ERY vs. NBET
ERY (Direxion Daily Energy Bear 2X Shares) and NBET (Neuberger Berman Energy Transition & Infrastructure ETF) are both exchange-traded funds - ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%), while NBET is a Energy Equities fund actively managed by Neuberger Berman. ERY is passively managed, while NBET is actively managed. Over the past 3 years, ERY returned -25.97%/yr vs 19.86%/yr for NBET. At a correlation of -0.56, they often move in opposite directions. ERY charges 1.07%/yr vs 0.65%/yr for NBET.
Performance
ERY vs. NBET - Performance Comparison
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Returns By Period
In the year-to-date period, ERY achieves a -37.05% return, which is significantly lower than NBET's 20.80% return.
ERY
- 1D
- -2.05%
- 1M
- 15.94%
- YTD
- -37.05%
- 6M
- -37.59%
- 1Y
- -42.88%
- 3Y*
- -25.97%
- 5Y*
- -36.31%
- 10Y*
- -33.21%
NBET
- 1D
- 0.19%
- 1M
- -5.87%
- YTD
- 20.80%
- 6M
- 20.90%
- 1Y
- 23.09%
- 3Y*
- 19.86%
- 5Y*
- —
- 10Y*
- —
ERY vs. NBET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -37.05% | -18.54% | -5.58% | -0.35% | -45.09% |
NBET Neuberger Berman Energy Transition & Infrastructure ETF | 20.80% | 5.87% | 30.30% | 7.48% | -6.07% |
Correlation
The correlation between ERY and NBET is -0.81, 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 | -0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.59 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2022 | -0.56 |
Over the past year, the inverse relationship between ERY and NBET has strengthened: their correlation has moved from -0.56 to -0.81, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
ERY vs. NBET — Risk / Return Rank
ERY
NBET
ERY vs. NBET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and Neuberger Berman Energy Transition & Infrastructure ETF (NBET). 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 | NBET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.76 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.26 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 2.90 | -3.65 |
| Martin ratioReturn relative to average drawdown | -1.35 | 7.90 | -9.25 |
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Drawdowns
ERY vs. NBET - Drawdown Comparison
The maximum ERY drawdown since its inception was -99.99%, which is greater than NBET's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for ERY and NBET.
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Drawdown Indicators
| ERY | NBET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -18.72% | -81.27% |
Max Drawdown (1Y)Largest decline over 1 year | -56.88% | -8.00% | -48.88% |
Max Drawdown (3Y)Largest decline over 3 years | -67.94% | -18.72% | -49.22% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -6.98% | -93.01% |
Average DrawdownAverage peak-to-trough decline | -96.91% | -5.07% | -91.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.69% | 2.93% | +28.76% |
Volatility
ERY vs. NBET - Volatility Comparison
Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 14.26% compared to Neuberger Berman Energy Transition & Infrastructure ETF (NBET) at 4.77%. This indicates that ERY's price experiences larger fluctuations and is considered to be riskier than NBET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERY | NBET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.26% | 4.77% | +9.49% |
Volatility (6M)Calculated over the trailing 6-month period | 33.31% | 11.00% | +22.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.74% | 14.66% | +27.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.84% | 19.48% | +32.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.55% | 19.48% | +51.07% |
ERY vs. NBET - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is higher than NBET's 0.65% expense ratio.
Dividends
ERY vs. NBET - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 3.30%, more than NBET's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.30% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
NBET Neuberger Berman Energy Transition & Infrastructure ETF | 1.71% | 2.70% | 2.43% | 1.22% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ERY and NBET have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERY has higher volatility (14.26%) compared to NBET (4.77%). In terms of maximum drawdown, ERY dropped -99.99% vs NBET's -18.72%.
On 3-year performance, NBET leads with 19.86% vs -25.97% for ERY. On fees, NBET is cheaper at 0.65% per year. On volatility, NBET has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NBET has performed better with a 19.86% return vs -25.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NBET is cheaper with a 0.65% expense ratio, compared with 1.07% for ERY.
ERY has the higher dividend yield at 3.30%, compared with 1.71% for NBET.
ERY is categorized as Leveraged Equities, while NBET is Energy Equities. They also come from different issuers: Direxion and Neuberger Berman. Their fees differ too: 1.07% for ERY and 0.65% for NBET.
NBET currently has the higher Sharpe Ratio (1.59 vs -1.04), 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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