ETHA vs. NFXS
ETHA (iShares Ethereum Trust ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while NFXS is a Inverse Equities fund actively managed by Direxion. ETHA is passively managed, while NFXS is actively managed. Over the past year, ETHA returned -46.25% vs 73.24% for NFXS. At a correlation of -0.19, they often move in opposite directions. ETHA charges 0.25%/yr vs 1.03%/yr for NFXS.
Performance
ETHA vs. NFXS - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -37.98% return, which is significantly lower than NFXS's 30.13% return.
ETHA
- 1D
- -1.56%
- 1M
- 6.43%
- 6M
- -44.09%
- YTD
- -37.98%
- 1Y
- -46.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NFXS
- 1D
- 7.40%
- 1M
- 10.36%
- 6M
- 21.84%
- YTD
- 30.13%
- 1Y
- 73.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETHA vs. NFXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -37.98% | -11.31% | 40.66% |
NFXS Direxion Daily NFLX Bear 1X Shares | 30.13% | -8.56% | -21.49% |
Correlation
The correlation between ETHA and NFXS is -0.14, 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 | -0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024 | -0.19 |
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Return for Risk
ETHA vs. NFXS — Risk / Return Rank
ETHA
NFXS
ETHA vs. NFXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) 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.
| ETHA | NFXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.78 | ||
| Sortino ratioReturn per unit of downside risk | -3.52 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.39 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 2.35 | -3.03 |
| Martin ratioReturn relative to average drawdown | -1.06 | 6.39 | -7.45 |
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Drawdowns
ETHA vs. NFXS - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.91%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for ETHA and NFXS.
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Drawdown Indicators
| ETHA | NFXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.91% | -50.37% | -17.54% |
Max Drawdown (1Y)Largest decline over 1 year | -67.91% | -31.31% | -36.60% |
Current DrawdownCurrent decline from peak | -61.98% | -8.73% | -53.25% |
Average DrawdownAverage peak-to-trough decline | -34.69% | -31.26% | -3.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.73% | 11.50% | +32.23% |
Volatility
ETHA vs. NFXS - Volatility Comparison
iShares Ethereum Trust ETF (ETHA) has a higher volatility of 14.80% compared to Direxion Daily NFLX Bear 1X Shares (NFXS) at 13.36%. This indicates that ETHA's price experiences larger fluctuations and is considered to be riskier 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
| ETHA | NFXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.80% | 13.36% | +1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 47.24% | 28.40% | +18.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.79% | 35.18% | +32.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.03% | 35.12% | +36.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.03% | 35.12% | +36.91% |
ETHA vs. NFXS - Expense Ratio Comparison
ETHA has a 0.25% expense ratio, which is lower than NFXS's 1.03% expense ratio.
Dividends
ETHA vs. NFXS - Dividend Comparison
ETHA has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 2.72%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% |
NFXS Direxion Daily NFLX Bear 1X Shares | 2.72% | 3.53% | 0.87% |
Frequently Asked Questions
ETHA and NFXS have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETHA has higher volatility (14.80%) compared to NFXS (13.36%). In terms of maximum drawdown, ETHA dropped -67.91% vs NFXS's -50.37%.
On 1-year performance, NFXS leads with 73.24% vs -46.25% for ETHA. On fees, ETHA is cheaper at 0.25% per year. On volatility, NFXS has been the lower-risk option at 13.36%. 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 73.24% return vs -46.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHA is cheaper with a 0.25% expense ratio, compared with 1.03% for NFXS.
NFXS has the higher dividend yield at 2.72%, compared with 0.00% for ETHA.
ETHA is categorized as Cryptocurrency, while NFXS is Inverse Equities. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.25% for ETHA and 1.03% for NFXS.
NFXS currently has the higher Sharpe Ratio (2.09 vs -0.68), 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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