ERY vs. QTJL

Last updated Jul 18, 2026

ERY (Direxion Daily Energy Bear 2X Shares) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. ERY is passively managed, while QTJL is actively managed. Over the past 5 years, ERY returned -40.50%/yr vs 9.52%/yr for QTJL. At a correlation of -0.18, they often move in opposite directions. ERY charges 1.07%/yr vs 0.79%/yr for QTJL.

Performance

ERY vs. QTJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Energy Bear 2X Shares (ERY) and Innovator Growth Accelerated Plus ETF - July (QTJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERY achieves a -43.69% return, which is significantly lower than QTJL's 3.14% return.

ERY

• 1D: -2.39%
• 1M: -11.68%
• 6M: -35.52%
• YTD: -43.69%
• 1Y: -48.14%
• 3Y*: -25.72%
• 5Y*: -40.50%
• 10Y*: -33.12%

QTJL

• 1D: -0.95%
• 1M: -3.77%
• 6M: 2.43%
• YTD: 3.14%
• 1Y: 11.81%
• 3Y*: 16.01%
• 5Y*: 9.52%
• 10Y*: —

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

ERY vs. QTJL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ERY Direxion Daily Energy Bear 2X Shares	-43.69%	-18.54%	-5.58%	-0.35%	-73.61%	-20.82%
QTJL Innovator Growth Accelerated Plus ETF - July	3.14%	21.07%	16.50%	42.39%	-30.16%	9.36%

Correlation

The correlation between ERY and QTJL is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (5Y) Calculated over the trailing 5-year period	-0.18
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	-0.18

The correlation between ERY and QTJL shifts across timeframes, from -0.18 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ERY vs. QTJL — Risk / Return Rank

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

ERY

ERY Risk / Return Rank: 1
ERY Sharpe Ratio Rank: 1
ERY Sortino Ratio Rank: 1
ERY Omega Ratio Rank: 1
ERY Calmar Ratio Rank: 2
ERY Martin Ratio Rank: 1

QTJL

QTJL Risk / Return Rank: 45
QTJL Sharpe Ratio Rank: 39
QTJL Sortino Ratio Rank: 37
QTJL Omega Ratio Rank: 43
QTJL Calmar Ratio Rank: 44
QTJL Martin Ratio Rank: 64

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. QTJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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	QTJL	Difference
Sharpe ratio: Return per unit of total volatility	-1.15	1.11	-2.27
Sortino ratio: Return per unit of downside risk	-1.89	1.60	-3.49
Omega ratio: Gain probability vs. loss probability	0.81	1.22	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.85	1.77	-2.62
Martin ratio: Return relative to average drawdown	-1.42	8.67	-10.09

ERY vs. QTJL - Sharpe Ratio Comparison

The current ERY Sharpe Ratio is -1.15, which is lower than the QTJL Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of ERY and QTJL, 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. QTJL - Drawdown Comparison

The maximum ERY drawdown since its inception was -99.99%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for ERY and QTJL.

Drawdown Indicators

	ERY	QTJL	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-33.40%	-66.59%
Max Drawdown (1Y) Largest decline over 1 year	-56.88%	-6.68%	-50.20%
Max Drawdown (3Y) Largest decline over 3 years	-65.95%	-22.43%	-43.52%
Max Drawdown (5Y) Largest decline over 5 years	-94.04%	-33.40%	-60.64%
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	—	—
Current Drawdown Current decline from peak	-99.99%	-4.09%	-95.90%
Average Drawdown Average peak-to-trough decline	-96.92%	-7.77%	-89.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.81%	1.37%	+32.44%

Volatility

ERY vs. QTJL - Volatility Comparison

Direxion Daily Energy Bear 2X Shares (ERY) has a higher volatility of 12.82% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 4.26%. This indicates that ERY's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERY	QTJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.82%	4.26%	+8.56%
Volatility (6M) Calculated over the trailing 6-month period	32.88%	8.46%	+24.42%
Volatility (1Y) Calculated over the trailing 1-year period	41.84%	10.68%	+31.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.62%	20.34%	+31.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.39%	20.26%	+50.13%

ERY vs. QTJL - Expense Ratio Comparison

ERY has a 1.07% expense ratio, which is higher than QTJL's 0.79% expense ratio.

Dividends

ERY vs. QTJL - Dividend Comparison

ERY's dividend yield for the trailing twelve months is around 3.28%, while QTJL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ERY Direxion Daily Energy Bear 2X Shares	3.28%	3.48%	4.13%	4.14%	0.32%	0.00%	0.43%	1.50%	0.56%
QTJL Innovator Growth Accelerated Plus ETF - July	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 QTJL in my portfolio?

ERY and QTJL have a correlation of 0.12, 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 QTJL?

ERY has higher volatility (12.82%) compared to QTJL (4.26%). In terms of maximum drawdown, ERY dropped -99.99% vs QTJL's -33.40%.

Which ETF is better, ERY or QTJL?

On 5-year performance, QTJL leads with 9.52% vs -40.50% for ERY. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ERY or QTJL?

Over the 5-year period, QTJL has performed better with a 9.52% return vs -40.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ERY or QTJL?

QTJL is cheaper with a 0.79% expense ratio, compared with 1.07% for ERY.

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

ERY has the higher dividend yield at 3.28%, compared with 0.00% for QTJL.

What is the main difference between ERY and QTJL?

They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.07% for ERY and 0.79% for QTJL.

Which has better risk-adjusted returns?

QTJL currently has the higher Sharpe Ratio (1.11 vs -1.15), 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.