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ERY vs. QQQE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ERY vs. QQQE

Last updated Jun 5, 2026

ERY (Direxion Daily Energy Bear 2X Shares) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%), while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past 10 years, ERY returned -33.88%/yr vs 15.43%/yr for QQQE. At a correlation of -0.42, they often move in opposite directions. ERY charges 1.07%/yr vs 0.35%/yr for QQQE.

Performance

ERY vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Energy Bear 2X Shares (ERY) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ERY achieves a -44.59% return, which is significantly lower than QQQE's 18.85% return. Over the past 10 years, ERY has underperformed QQQE with an annualized return of -33.88%, while QQQE has yielded a comparatively higher 15.43% annualized return.

ERY

1D
-0.18%
1M
1.11%
YTD
-44.59%
6M
-42.08%
1Y
-55.06%
3Y*
-28.20%
5Y*
-38.05%
10Y*
-33.88%

QQQE

1D
-0.22%
1M
9.15%
YTD
18.85%
6M
17.59%
1Y
28.07%
3Y*
18.58%
5Y*
10.25%
10Y*
15.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ERY vs. QQQE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ERY
Direxion Daily Energy Bear 2X Shares		-44.59%-18.54%-5.58%-0.35%-73.61%-68.00%-11.94%-38.67%45.61%-5.67%
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		18.85%14.58%6.98%33.76%-24.47%17.93%37.85%36.43%-5.40%26.53%

Correlation

The correlation between ERY and QQQE is 0.03, 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

0.03

Correlation (3Y)
Calculated over the trailing 3-year period

-0.17

Correlation (5Y)
Calculated over the trailing 5-year period

-0.25

Correlation (10Y)
Calculated over the trailing 10-year period

-0.35

Correlation (All Time)
Calculated using the full available price history since Mar 22, 2012

-0.42

The correlation between ERY and QQQE shifts across timeframes, from -0.42 (all time) to 0.03 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily Energy Bear 2X Shares

Direxion NASDAQ-100 Equal Weighted Index Shares

Often compared with ERY:
ERY vs. ERXERY vs. DRIPERY vs. DUGERY vs. TECLERY vs. EINCERY vs. XLEERY vs. SPY
Often compared with QQQE:
QQQE vs. QQQQQQE vs. QQQMQQQE vs. QQEWQQQE vs. SPYGQQQE vs. TQQQQQQE vs. VOOQQQE vs. SPY

Return for Risk

ERY vs. QQQE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ERY
ERY Risk / Return Rank: 11
Overall Rank
ERY Sharpe Ratio Rank: 00
Sharpe Ratio Rank
ERY Sortino Ratio Rank: 00
Sortino Ratio Rank
ERY Omega Ratio Rank: 00
Omega Ratio Rank
ERY Calmar Ratio Rank: 11
Calmar Ratio Rank
ERY Martin Ratio Rank: 11
Martin Ratio Rank
QQQE
QQQE Risk / Return Rank: 5959
Overall Rank
QQQE Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
QQQE Sortino Ratio Rank: 5959
Sortino Ratio Rank
QQQE Omega Ratio Rank: 5656
Omega Ratio Rank
QQQE Calmar Ratio Rank: 6161
Calmar Ratio Rank
QQQE Martin Ratio Rank: 5959
Martin Ratio Rank
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. QQQE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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.

ERYQQQEDifference
Sharpe ratioReturn per unit of total volatility
-1.36
2.00

-3.36

Sortino ratioReturn per unit of downside risk
-2.40
2.74

-5.14

Omega ratioGain probability vs. loss probability

0.76

1.34

-0.58

Calmar ratioReturn relative to maximum drawdown

-0.92

3.00

-3.92

Martin ratioReturn relative to average drawdown

-1.65

10.34

-11.99

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ERY vs. QQQE - Sharpe Ratio Comparison

The current ERY Sharpe Ratio is -1.36, which is lower than the QQQE Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of ERY and QQQE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ERYQQQEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.36

2.00

-3.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.74

0.51

-1.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.48

0.75

-1.23

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.55

0.76

-1.31

Drawdowns

ERY vs. QQQE - Drawdown Comparison

The maximum ERY drawdown since its inception was -99.99%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for ERY and QQQE.

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Drawdown Indicators

ERYQQQEDifference

Max Drawdown

Largest peak-to-trough decline

-99.99%

-32.14%

-67.85%

Max Drawdown (1Y)

Largest decline over 1 year

-59.79%

-9.41%

-50.38%

Max Drawdown (3Y)

Largest decline over 3 years

-67.94%

-21.38%

-46.56%

Max Drawdown (5Y)

Largest decline over 5 years

-94.04%

-32.14%

-61.90%

Max Drawdown (10Y)

Largest decline over 10 years

-99.66%

-32.14%

-67.52%

Current Drawdown

Current decline from peak

-99.99%

-0.32%

-99.67%

Average Drawdown

Average peak-to-trough decline

-96.93%

-5.17%

-91.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

33.47%

2.72%

+30.75%

Volatility

ERY vs. QQQE - Volatility Comparison

Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 16.11% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 3.82%. This indicates that ERY's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ERYQQQEDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.11%

3.82%

+12.29%

Volatility (6M)

Calculated over the trailing 6-month period

32.64%

10.61%

+22.03%

Volatility (1Y)

Calculated over the trailing 1-year period

40.81%

14.13%

+26.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

51.89%

20.29%

+31.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

70.62%

20.72%

+49.90%

ERY vs. QQQE - Expense Ratio Comparison

ERY has a 1.07% expense ratio, which is higher than QQQE's 0.35% expense ratio.

Dividends

ERY vs. QQQE - Dividend Comparison

ERY's dividend yield for the trailing twelve months is around 3.75%, more than QQQE's 0.52% yield.

PositionTTM20252024202320222021202020192018201720162015
ERY
Direxion Daily Energy Bear 2X Shares		3.75%3.48%4.13%4.14%0.32%0.00%0.43%1.50%0.56%0.00%0.00%0.00%
QQQE
Direxion NASDAQ-100 Equal Weighted Index Shares		0.52%0.52%0.86%0.79%0.98%3.83%0.54%0.74%0.80%0.65%1.17%0.57%

Frequently Asked Questions

ERY and QQQE have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ERY has higher volatility (16.11%) compared to QQQE (3.82%). In terms of maximum drawdown, ERY dropped -99.99% vs QQQE's -32.14%.

On 10-year performance, QQQE leads with 15.43% vs -33.88% for ERY. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQQE has performed better with a 15.43% return vs -33.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQE is cheaper with a 0.35% expense ratio, compared with 1.07% for ERY.

ERY has the higher dividend yield at 3.75%, compared with 0.52% for QQQE.

ERY is categorized as Leveraged Equities, while QQQE is Nasdaq-100. ERY tracks Energy Select Sector Index (-300%), while QQQE tracks NASDAQ-100 Equal Weighted Index. Their fees differ too: 1.07% for ERY and 0.35% for QQQE.

QQQE currently has the higher Sharpe Ratio (2.00 vs -1.36), 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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