ETLX.DE vs. DFEN

Last updated Aug 6, 2026

ETLX.DE (L&G Gold Mining UCITS ETF) and DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) are both exchange-traded funds - ETLX.DE is a Gold fund tracking the DAXglobal® Gold Miners, while DFEN is a Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300% Daily). Both are passively managed. Over the past 5 years, ETLX.DE returned 27.00%/yr vs 37.56%/yr for DFEN. Their 0.10 correlation means their historical movements had little consistent relationship. ETLX.DE charges 0.65%/yr vs 0.96%/yr for DFEN.

Performance

ETLX.DE vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G Gold Mining UCITS ETF (ETLX.DE) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ETLX.DE is traded in EUR, while DFEN is traded in USD. To make them comparable, the DFEN values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ETLX.DE achieves a -3.79% return, which is significantly lower than DFEN's 38.95% return.

ETLX.DE

• 1D: 8.27%
• 1M: 4.97%
• 6M: -11.78%
• YTD: -3.79%
• 1Y: 53.03%
• 3Y*: 50.82%
• 5Y*: 27.00%
• 10Y*: 12.92%
• ALL TIME*: 7.47%

DFEN

• 1D: 1.33%
• 1M: -1.65%
• 6M: 19.64%
• YTD: 38.95%
• 1Y: 64.01%
• 3Y*: 73.93%
• 5Y*: 37.56%
• 10Y*: —
• ALL TIME*: 17.70%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	€13.03M	€11.18M	€13.00M
ETLX.DE L&G Gold Mining UCITS ETF	€807.89K	€689.15K	€1.06M

ETLX.DE vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETLX.DE L&G Gold Mining UCITS ETF	-3.79%	152.51%	27.45%	11.01%	-7.07%	-3.33%	12.25%	42.55%	-5.79%	-3.65%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	38.95%	126.16%	35.46%	20.96%	13.62%	21.15%	-72.69%	99.50%	-29.71%	66.54%

Correlation

The correlation between ETLX.DE and DFEN is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (3Y) Balances recent behavior with more history.	0.19
Correlation (5Y) Shows whether the relationship held over a longer period.	0.15
Correlation (All Time) Calculated using the full available price history since May 3, 2017	0.10

The correlation between ETLX.DE and DFEN shifts across timeframes, from 0.10 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ETLX.DE vs. DFEN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ETLX.DE

ETLX.DE Risk / Return Rank: 35
ETLX.DE Sharpe Ratio Rank: 37
ETLX.DE Sortino Ratio Rank: 37
ETLX.DE Omega Ratio Rank: 36
ETLX.DE Calmar Ratio Rank: 36
ETLX.DE Martin Ratio Rank: 30

DFEN

DFEN Risk / Return Rank: 35
DFEN Sharpe Ratio Rank: 33
DFEN Sortino Ratio Rank: 38
DFEN Omega Ratio Rank: 35
DFEN Calmar Ratio Rank: 38
DFEN Martin Ratio Rank: 31

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ETLX.DE vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Gold Mining UCITS ETF (ETLX.DE) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.

	ETLX.DE	DFEN	Difference
Sharpe ratio: Return per unit of total volatility	1.07	0.95	+0.12
Sortino ratio: Return per unit of downside risk	1.59	1.62	-0.02
Omega ratio: Gain probability vs. loss probability	1.19	1.19	0.00
Calmar ratio: Return relative to maximum drawdown	1.43	1.55	-0.12
Martin ratio: Return relative to average drawdown	3.04	3.29	-0.25

ETLX.DE vs. DFEN - Sharpe Ratio Comparison

The current ETLX.DE Sharpe Ratio is 1.07, which is comparable to the DFEN Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of ETLX.DE and DFEN, 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

ETLX.DE vs. DFEN - Drawdown Comparison

The maximum ETLX.DE drawdown since its inception was -73.44%, smaller than the maximum DFEN drawdown of -91.25%. Use the drawdown chart below to compare losses from any high point for ETLX.DE and DFEN.

Drawdown Indicators

	ETLX.DE	DFEN	Difference
Max Drawdown Largest peak-to-trough decline	-73.44%	-91.25%	+17.81%
Max Drawdown (1Y) Largest decline over 1 year	-36.81%	-41.52%	+4.71%
Max Drawdown (3Y) Largest decline over 3 years	-36.81%	-44.89%	+8.08%
Max Drawdown (5Y) Largest decline over 5 years	-42.01%	-46.41%	+4.40%
Max Drawdown (10Y) Largest decline over 10 years	-46.81%	—	—
Current Drawdown Current decline from peak	-25.86%	-9.38%	-16.48%
Average Drawdown Average peak-to-trough decline	-34.38%	-44.93%	+10.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.41%	19.54%	-2.13%

Volatility

ETLX.DE vs. DFEN - Volatility Comparison

The current volatility for L&G Gold Mining UCITS ETF (ETLX.DE) is 15.15%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 22.57%. This indicates that ETLX.DE experiences smaller price fluctuations and is considered to be less risky than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETLX.DE	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.15%	22.57%	-7.42%
Volatility (6M) Calculated over the trailing 6-month period	36.93%	54.71%	-17.78%
Volatility (1Y) Calculated over the trailing 1-year period	49.32%	67.51%	-18.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.15%	60.17%	-23.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.25%	71.09%	-36.84%

ETLX.DE vs. DFEN - Expense Ratio Comparison

ETLX.DE has a 0.65% expense ratio, which is lower than DFEN's 0.96% expense ratio.

Dividends

ETLX.DE vs. DFEN - Dividend Comparison

ETLX.DE has not paid dividends to shareholders, while DFEN's dividend yield for the trailing twelve months is around 6.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	6.49%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%
ETLX.DE L&G Gold Mining UCITS ETF	0.00%	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 ETLX.DE and DFEN in my portfolio?

ETLX.DE and DFEN have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETLX.DE or DFEN?

On fees, ETLX.DE is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETLX.DE or DFEN?

ETLX.DE is cheaper with a 0.65% expense ratio, compared with 0.96% for DFEN.

What is the main difference between ETLX.DE and DFEN?

ETLX.DE is categorized as Gold, while DFEN is Leveraged Equities. ETLX.DE tracks DAXglobal® Gold Miners, while DFEN tracks Dow Jones U.S. Select Aerospace & Defense Index (300% Daily). They also come from different issuers: L&G and Direxion. Their fees differ too: 0.65% for ETLX.DE and 0.96% for DFEN.