ERY vs. IXC
ERY (Direxion Daily Energy Bear 2X Shares) and IXC (iShares Global Energy ETF) are both exchange-traded funds - ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%), while IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index. Both are passively managed. Over the past 10 years, ERY returned -32.32%/yr vs 8.83%/yr for IXC. At a correlation of -0.96, they often move in opposite directions. ERY charges 1.07%/yr vs 0.40%/yr for IXC.
Performance
ERY vs. IXC - Performance Comparison
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Returns By Period
In the year-to-date period, ERY achieves a -38.08% return, which is significantly lower than IXC's 23.35% return. Over the past 10 years, ERY has underperformed IXC with an annualized return of -32.32%, while IXC has yielded a comparatively higher 8.83% annualized return.
ERY
- 1D
- -0.98%
- 1M
- 7.25%
- 6M
- -32.22%
- YTD
- -38.08%
- 1Y
- -39.69%
- 3Y*
- -22.70%
- 5Y*
- -37.43%
- 10Y*
- -32.32%
IXC
- 1D
- 0.51%
- 1M
- -4.50%
- 6M
- 20.68%
- YTD
- 23.35%
- 1Y
- 29.02%
- 3Y*
- 14.69%
- 5Y*
- 18.91%
- 10Y*
- 8.83%
ERY vs. IXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -38.08% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
IXC iShares Global Energy ETF | 23.35% | 13.98% | 1.95% | 3.92% | 48.51% | 40.88% | -31.00% | 12.67% | -14.85% | 5.54% |
Correlation
The correlation between ERY and IXC is -0.97, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.96 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2008 | -0.96 |
The correlation between ERY and IXC has been stable across timeframes, ranging from -0.97 to -0.96 - a consistent structural relationship.
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Return for Risk
ERY vs. IXC — Risk / Return Rank
ERY
IXC
ERY vs. IXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and iShares Global Energy ETF (IXC). 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 | IXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -3.55 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.26 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | 1.95 | -2.66 |
| Martin ratioReturn relative to average drawdown | -1.22 | 6.26 | -7.48 |
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Drawdowns
ERY vs. IXC - Drawdown Comparison
The maximum ERY drawdown since its inception was -99.99%, which is greater than IXC's maximum drawdown of -67.88%. Use the drawdown chart below to compare losses from any high point for ERY and IXC.
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Drawdown Indicators
| ERY | IXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -67.88% | -32.11% |
Max Drawdown (1Y)Largest decline over 1 year | -56.88% | -15.36% | -41.52% |
Max Drawdown (3Y)Largest decline over 3 years | -65.95% | -19.06% | -46.89% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | -24.93% | -69.11% |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | -64.16% | -35.50% |
Current DrawdownCurrent decline from peak | -99.99% | -11.22% | -88.77% |
Average DrawdownAverage peak-to-trough decline | -96.92% | -17.45% | -79.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.07% | 4.78% | +28.29% |
Volatility
ERY vs. IXC - Volatility Comparison
Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 13.80% compared to iShares Global Energy ETF (IXC) at 6.59%. This indicates that ERY's price experiences larger fluctuations and is considered to be riskier than IXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERY | IXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.80% | 6.59% | +7.21% |
Volatility (6M)Calculated over the trailing 6-month period | 33.16% | 15.86% | +17.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.55% | 19.18% | +22.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.69% | 23.45% | +28.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.40% | 26.81% | +43.59% |
ERY vs. IXC - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is higher than IXC's 0.40% expense ratio.
Dividends
ERY vs. IXC - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 2.98%, less than IXC's 3.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 2.98% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% | 0.00% | 0.00% | 0.00% |
IXC iShares Global Energy ETF | 3.08% | 3.68% | 4.56% | 3.45% | 4.76% | 3.98% | 4.86% | 7.00% | 3.51% | 3.05% | 2.86% | 3.77% |
Frequently Asked Questions
ERY and IXC have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (13.80%) compared to IXC (6.59%). In terms of maximum drawdown, ERY dropped -99.99% vs IXC's -67.88%.
On 10-year performance, IXC leads with 8.83% vs -32.32% for ERY. On fees, IXC is cheaper at 0.40% per year. On volatility, IXC has been the lower-risk option at 6.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IXC has performed better with a 8.83% return vs -32.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IXC is cheaper with a 0.40% expense ratio, compared with 1.07% for ERY.
IXC has the higher dividend yield at 3.08%, compared with 2.98% for ERY.
ERY is categorized as Leveraged Equities, while IXC is Energy Equities. ERY tracks Energy Select Sector Index (-300%), while IXC tracks S&P Global 1200 Energy Capped Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for ERY and 0.40% for IXC.
IXC currently has the higher Sharpe Ratio (1.56 vs -0.97), 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.
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