ERY vs. IYE
ERY (Direxion Daily Energy Bear 2X Shares) and IYE (iShares U.S. Energy ETF) are both exchange-traded funds - ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%), while IYE is a Energy Equities fund tracking the Dow Jones U.S. Oil & Gas Index. Both are passively managed. Over the past 10 years, ERY returned -33.15%/yr vs 8.30%/yr for IYE. At a correlation of -0.99, they often move in opposite directions. ERY charges 1.07%/yr vs 0.42%/yr for IYE.
Performance
ERY vs. IYE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ERY achieves a -42.37% return, which is significantly lower than IYE's 29.18% return. Over the past 10 years, ERY has underperformed IYE with an annualized return of -33.15%, while IYE has yielded a comparatively higher 8.30% annualized return.
ERY
- 1D
- 4.02%
- 1M
- -2.73%
- YTD
- -42.37%
- 6M
- -40.31%
- 1Y
- -53.41%
- 3Y*
- -26.88%
- 5Y*
- -37.56%
- 10Y*
- -33.15%
IYE
- 1D
- -2.10%
- 1M
- 0.88%
- YTD
- 29.18%
- 6M
- 26.69%
- 1Y
- 43.85%
- 3Y*
- 16.27%
- 5Y*
- 19.02%
- 10Y*
- 8.30%
ERY vs. IYE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -42.37% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
IYE iShares U.S. Energy ETF | 29.18% | 7.33% | 6.06% | -2.21% | 60.21% | 53.42% | -33.49% | 10.03% | -19.37% | -1.80% |
Correlation
The correlation between ERY and IYE is -1.00, 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 | -1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.99 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2008 | -0.99 |
The correlation between ERY and IYE has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ERY vs. IYE — Risk / Return Rank
ERY
IYE
ERY vs. IYE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and iShares U.S. Energy ETF (IYE). 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.
| ERY | IYE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.52 | ||
| Sortino ratioReturn per unit of downside risk | -5.11 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.36 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 3.70 | -4.62 |
| Martin ratioReturn relative to average drawdown | -1.69 | 10.81 | -12.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ERY | IYE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.31 | 2.20 | -3.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.73 | 0.74 | -1.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.47 | 0.28 | -0.75 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 0.26 | -0.80 |
Drawdowns
ERY vs. IYE - Drawdown Comparison
The maximum ERY drawdown since its inception was -99.99%, which is greater than IYE's maximum drawdown of -73.74%. Use the drawdown chart below to compare losses from any high point for ERY and IYE.
Loading charts...
Drawdown Indicators
| ERY | IYE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -73.74% | -26.25% |
Max Drawdown (1Y)Largest decline over 1 year | -58.18% | -11.92% | -46.26% |
Max Drawdown (3Y)Largest decline over 3 years | -67.94% | -20.37% | -47.57% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | -25.61% | -68.43% |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | -68.59% | -31.07% |
Current DrawdownCurrent decline from peak | -99.99% | -7.72% | -92.27% |
Average DrawdownAverage peak-to-trough decline | -96.93% | -19.36% | -77.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.64% | 4.07% | +29.57% |
Volatility
ERY vs. IYE - Volatility Comparison
Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 14.54% compared to iShares U.S. Energy ETF (IYE) at 7.06%. This indicates that ERY's price experiences larger fluctuations and is considered to be riskier than IYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ERY | IYE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.54% | 7.06% | +7.48% |
Volatility (6M)Calculated over the trailing 6-month period | 32.77% | 16.14% | +16.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.82% | 19.98% | +20.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.90% | 25.72% | +26.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.61% | 29.51% | +41.10% |
ERY vs. IYE - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is higher than IYE's 0.42% expense ratio.
Dividends
ERY vs. IYE - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 3.61%, more than IYE's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.61% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% | 0.00% | 0.00% | 0.00% |
IYE iShares U.S. Energy ETF | 2.18% | 2.85% | 2.75% | 2.99% | 3.37% | 2.98% | 4.75% | 6.60% | 3.16% | 2.66% | 2.11% | 3.39% |
Frequently Asked Questions
ERY and IYE have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (14.54%) compared to IYE (7.06%). In terms of maximum drawdown, ERY dropped -99.99% vs IYE's -73.74%.
On 10-year performance, IYE leads with 8.30% vs -33.15% for ERY. On fees, IYE is cheaper at 0.42% per year. On volatility, IYE has been the lower-risk option at 7.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYE has performed better with a 8.30% return vs -33.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYE is cheaper with a 0.42% expense ratio, compared with 1.07% for ERY.
ERY has the higher dividend yield at 3.61%, compared with 2.18% for IYE.
ERY is categorized as Leveraged Equities, while IYE is Energy Equities. ERY tracks Energy Select Sector Index (-300%), while IYE tracks Dow Jones U.S. Oil & Gas Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for ERY and 0.42% for IYE.
IYE currently has the higher Sharpe Ratio (2.20 vs -1.31), 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.
Find the right allocation for ERY and IYE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer