ERY vs. INTW

Last updated Jun 23, 2026

ERY (Direxion Daily Energy Bear 2X Shares) and INTW (GraniteShares 2x Long INTC Daily ETF) are both Leveraged Equities funds. ERY is passively managed, while INTW is actively managed. Over the past year, ERY returned -38.62% vs 2279.34% for INTW. At a correlation of -0.15, they often move in opposite directions. ERY charges 1.07%/yr vs 1.50%/yr for INTW.

Performance

ERY vs. INTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Energy Bear 2X Shares (ERY) and GraniteShares 2x Long INTC Daily ETF (INTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERY achieves a -35.74% return, which is significantly lower than INTW's 871.59% return.

ERY

• 1D: -2.68%
• 1M: 18.36%
• YTD: -35.74%
• 6M: -37.04%
• 1Y: -38.62%
• 3Y*: -25.46%
• 5Y*: -36.29%
• 10Y*: -33.07%

INTW

• 1D: 10.59%
• 1M: 28.23%
• YTD: 871.59%
• 6M: 897.00%
• 1Y: 2,279.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ERY vs. INTW - Yearly Performance Comparison

	2026 (YTD)	2025
ERY Direxion Daily Energy Bear 2X Shares	-35.74%	-12.17%
INTW GraniteShares 2x Long INTC Daily ETF	871.59%	60.89%

Correlation

The correlation between ERY and INTW is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.15

Return for Risk

ERY vs. INTW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ERY

ERY Risk / Return Rank: 2
ERY Sharpe Ratio Rank: 2
ERY Sortino Ratio Rank: 2
ERY Omega Ratio Rank: 2
ERY Calmar Ratio Rank: 3
ERY Martin Ratio Rank: 3

INTW

INTW Risk / Return Rank: 98
INTW Sharpe Ratio Rank: 100
INTW Sortino Ratio Rank: 96
INTW Omega Ratio Rank: 95
INTW Calmar Ratio Rank: 99
INTW Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ERY vs. INTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and GraniteShares 2x Long INTC Daily ETF (INTW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ERY	INTW	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	15.45	-16.38
Sortino ratio: Return per unit of downside risk	-1.37	5.37	-6.73
Omega ratio: Gain probability vs. loss probability	0.86	1.68	-0.82
Calmar ratio: Return relative to maximum drawdown	-0.68	46.81	-47.49
Martin ratio: Return relative to average drawdown	-1.23	106.28	-107.50

ERY vs. INTW - Sharpe Ratio Comparison

The current ERY Sharpe Ratio is -0.93, which is lower than the INTW Sharpe Ratio of 15.45. The chart below compares the historical Sharpe Ratios of ERY and INTW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ERY vs. INTW - Drawdown Comparison

The maximum ERY drawdown since its inception was -99.99%, which is greater than INTW's maximum drawdown of -60.58%. Use the drawdown chart below to compare losses from any high point for ERY and INTW.

Drawdown Indicators

	ERY	INTW	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-60.58%	-39.41%
Max Drawdown (1Y) Largest decline over 1 year	-56.88%	-49.34%	-7.54%
Max Drawdown (3Y) Largest decline over 3 years	-67.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-94.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	—	—
Current Drawdown Current decline from peak	-99.99%	0.00%	-99.99%
Average Drawdown Average peak-to-trough decline	-96.91%	-29.71%	-67.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.56%	21.69%	+9.87%

Volatility

ERY vs. INTW - Volatility Comparison

The current volatility for Direxion Daily Energy Bear 2X Shares (ERY) is 14.06%, while GraniteShares 2x Long INTC Daily ETF (INTW) has a volatility of 53.88%. This indicates that ERY experiences smaller price fluctuations and is considered to be less risky than INTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERY	INTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.06%	53.88%	-39.82%
Volatility (6M) Calculated over the trailing 6-month period	33.46%	118.13%	-84.67%
Volatility (1Y) Calculated over the trailing 1-year period	41.78%	149.77%	-107.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.83%	148.63%	-96.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.63%	148.63%	-78.00%

ERY vs. INTW - Expense Ratio Comparison

ERY has a 1.07% expense ratio, which is lower than INTW's 1.50% expense ratio.

Dividends

ERY vs. INTW - Dividend Comparison

ERY's dividend yield for the trailing twelve months is around 3.24%, while INTW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ERY Direxion Daily Energy Bear 2X Shares	3.24%	3.48%	4.13%	4.14%	0.32%	0.00%	0.43%	1.50%	0.56%
INTW GraniteShares 2x Long INTC Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ERY and INTW in my portfolio?

ERY and INTW have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERY or INTW?

INTW has higher volatility (53.88%) compared to ERY (14.06%). In terms of maximum drawdown, ERY dropped -99.99% vs INTW's -60.58%.

Which ETF is better, ERY or INTW?

On 1-year performance, INTW leads with 2279.34% vs -38.62% for ERY. On fees, ERY is cheaper at 1.07% per year. On volatility, ERY has been the lower-risk option at 14.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ERY or INTW?

Over the 1-year period, INTW has performed better with a 2279.34% return vs -38.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ERY or INTW?

ERY is cheaper with a 1.07% expense ratio, compared with 1.50% for INTW.

Which ETF pays a higher dividend yield, ERY or INTW?

ERY has the higher dividend yield at 3.24%, compared with 0.00% for INTW.

What is the main difference between ERY and INTW?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.07% for ERY and 1.50% for INTW.

Which has better risk-adjusted returns?

INTW currently has the higher Sharpe Ratio (15.45 vs -0.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.