ESPO vs. NFXS
ESPO (VanEck Video Gaming and eSports ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index, while NFXS is a Inverse Equities fund actively managed by Direxion. ESPO is passively managed, while NFXS is actively managed. Over the past year, ESPO returned -19.58% vs 71.85% for NFXS. At a correlation of -0.36, they often move in opposite directions. ESPO charges 0.55%/yr vs 1.03%/yr for NFXS.
Performance
ESPO vs. NFXS - Performance Comparison
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Returns By Period
In the year-to-date period, ESPO achieves a -17.72% return, which is significantly lower than NFXS's 27.73% return.
ESPO
- 1D
- -1.06%
- 1M
- -3.82%
- YTD
- -17.72%
- 6M
- -18.33%
- 1Y
- -19.58%
- 3Y*
- 17.30%
- 5Y*
- 5.00%
- 10Y*
- —
NFXS
- 1D
- 1.37%
- 1M
- 23.42%
- YTD
- 27.73%
- 6M
- 27.53%
- 1Y
- 71.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ESPO vs. NFXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | -17.72% | 25.79% | 9.82% |
NFXS Direxion Daily NFLX Bear 1X Shares | 27.73% | -8.56% | -21.49% |
Correlation
The correlation between ESPO and NFXS is -0.21, 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 | -0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024 | -0.36 |
The correlation between ESPO and NFXS shifts across timeframes, from -0.36 (all time) to -0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ESPO vs. NFXS — Risk / Return Rank
ESPO
NFXS
ESPO vs. NFXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Video Gaming and eSports ETF (ESPO) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.
| ESPO | NFXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.20 | ||
| Sortino ratioReturn per unit of downside risk | -4.20 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.40 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 2.31 | -2.97 |
| Martin ratioReturn relative to average drawdown | -1.17 | 6.31 | -7.48 |
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Drawdowns
ESPO vs. NFXS - Drawdown Comparison
The maximum ESPO drawdown since its inception was -50.99%, roughly equal to the maximum NFXS drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for ESPO and NFXS.
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Drawdown Indicators
| ESPO | NFXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.99% | -50.37% | -0.62% |
Max Drawdown (1Y)Largest decline over 1 year | -29.43% | -31.31% | +1.88% |
Max Drawdown (3Y)Largest decline over 3 years | -29.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -48.33% | — | — |
Current DrawdownCurrent decline from peak | -29.43% | -10.41% | -19.02% |
Average DrawdownAverage peak-to-trough decline | -15.12% | -31.84% | +16.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.70% | 11.44% | +5.26% |
Volatility
ESPO vs. NFXS - Volatility Comparison
The current volatility for VanEck Video Gaming and eSports ETF (ESPO) is 4.34%, while Direxion Daily NFLX Bear 1X Shares (NFXS) has a volatility of 7.76%. This indicates that ESPO experiences smaller price fluctuations and is considered to be less risky than NFXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESPO | NFXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 7.76% | -3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 14.67% | 26.25% | -11.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.51% | 33.73% | -15.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.09% | 34.61% | -9.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.67% | 34.61% | -8.94% |
ESPO vs. NFXS - Expense Ratio Comparison
ESPO has a 0.55% expense ratio, which is lower than NFXS's 1.03% expense ratio.
Dividends
ESPO vs. NFXS - Dividend Comparison
ESPO's dividend yield for the trailing twelve months is around 1.51%, less than NFXS's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | 1.51% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% |
NFXS Direxion Daily NFLX Bear 1X Shares | 2.77% | 3.53% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESPO and NFXS have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFXS has higher volatility (7.76%) compared to ESPO (4.34%). In terms of maximum drawdown, ESPO dropped -50.99% vs NFXS's -50.37%.
On 1-year performance, NFXS leads with 71.85% vs -19.58% for ESPO. On fees, ESPO is cheaper at 0.55% per year. On volatility, ESPO has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NFXS has performed better with a 71.85% return vs -19.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESPO is cheaper with a 0.55% expense ratio, compared with 1.03% for NFXS.
NFXS has the higher dividend yield at 2.77%, compared with 1.51% for ESPO.
ESPO is categorized as Gaming, while NFXS is Inverse Equities. They also come from different issuers: VanEck and Direxion. Their fees differ too: 0.55% for ESPO and 1.03% for NFXS.
NFXS currently has the higher Sharpe Ratio (2.14 vs -1.06), 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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