EURL vs. EUFN

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily FTSE Europe Bull 3x Shares (EURL) and iShares MSCI Europe Financials ETF (EUFN).

EURL and EUFN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EURL is a passively managed fund by Direxion that tracks the performance of the FTSE Developed Europe Index (300%). It was launched on Jan 22, 2014. EUFN is a passively managed fund by iShares that tracks the performance of the MSCI Europe Financials Index. It was launched on Jan 20, 2010. Both EURL and EUFN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EURL vs. EUFN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily FTSE Europe Bull 3x Shares (EURL) and iShares MSCI Europe Financials ETF (EUFN). The values are adjusted to include any dividend payments, if applicable.

EURL vs. EUFN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	-7.92%	105.85%	-11.42%	44.19%	-54.41%	46.59%	-23.19%	72.61%	-46.39%	91.32%
EUFN iShares MSCI Europe Financials ETF	-6.04%	65.73%	17.20%	26.15%	-8.78%	19.13%	-8.55%	20.73%	-23.14%	26.94%

Returns By Period

In the year-to-date period, EURL achieves a -7.92% return, which is significantly lower than EUFN's -6.04% return. Over the past 10 years, EURL has underperformed EUFN with an annualized return of 7.52%, while EUFN has yielded a comparatively higher 11.63% annualized return.

EURL

• 1D: 8.71%
• 1M: -25.55%
• YTD: -7.92%
• 6M: 4.42%
• 1Y: 44.29%
• 3Y*: 24.06%
• 5Y*: 6.41%
• 10Y*: 7.52%

EUFN

• 1D: 4.25%
• 1M: -7.58%
• YTD: -6.04%
• 6M: 2.94%
• 1Y: 27.35%
• 3Y*: 29.23%
• 5Y*: 17.62%
• 10Y*: 11.63%

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

EURL vs. EUFN - Expense Ratio Comparison

EURL has a 1.07% expense ratio, which is higher than EUFN's 0.48% expense ratio.

EURL

Direxion Daily FTSE Europe Bull 3x Shares

EUFN

iShares MSCI Europe Financials ETF

Return for Risk

EURL vs. EUFN — Risk / Return Rank

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

EURL

EURL Risk / Return Rank: 50
EURL Sharpe Ratio Rank: 48
EURL Sortino Ratio Rank: 54
EURL Omega Ratio Rank: 53
EURL Calmar Ratio Rank: 48
EURL Martin Ratio Rank: 45

EUFN

EUFN Risk / Return Rank: 70
EUFN Sharpe Ratio Rank: 73
EUFN Sortino Ratio Rank: 72
EUFN Omega Ratio Rank: 69
EUFN Calmar Ratio Rank: 71
EUFN Martin Ratio Rank: 65

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.

EURL vs. EUFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) and iShares MSCI Europe Financials ETF (EUFN). 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.

	EURL	EUFN	Difference
Sharpe ratio Return per unit of total volatility	0.85	1.24	-0.39
Sortino ratio Return per unit of downside risk	1.41	1.76	-0.35
Omega ratio Gain probability vs. loss probability	1.20	1.24	-0.05
Calmar ratio Return relative to maximum drawdown	1.19	1.74	-0.55
Martin ratio Return relative to average drawdown	4.25	6.10	-1.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EURL vs. EUFN - Sharpe Ratio Comparison

The current EURL Sharpe Ratio is 0.85, which is lower than the EUFN Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of EURL and EUFN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EURL	EUFN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	1.24	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.82	-0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.48	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.25	-0.23

Correlation

The correlation between EURL and EUFN is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EURL vs. EUFN - Dividend Comparison

EURL's dividend yield for the trailing twelve months is around 1.70%, less than EUFN's 3.80% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.70%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%	0.00%	0.00%
EUFN iShares MSCI Europe Financials ETF	3.80%	3.57%	5.36%	5.00%	4.24%	4.15%	1.38%	4.55%	6.48%	3.04%	4.03%	3.65%

Drawdowns

EURL vs. EUFN - Drawdown Comparison

The maximum EURL drawdown since its inception was -84.65%, which is greater than EUFN's maximum drawdown of -53.25%. Use the drawdown chart below to compare losses from any high point for EURL and EUFN.

Drawdown Indicators

	EURL	EUFN	Difference
Max Drawdown Largest peak-to-trough decline	-84.65%	-53.25%	-31.40%
Max Drawdown (1Y) Largest decline over 1 year	-33.05%	-14.77%	-18.28%
Max Drawdown (5Y) Largest decline over 5 years	-75.24%	-35.15%	-40.09%
Max Drawdown (10Y) Largest decline over 10 years	-84.65%	-53.25%	-31.40%
Current Drawdown Current decline from peak	-26.13%	-10.30%	-15.83%
Average Drawdown Average peak-to-trough decline	-37.31%	-14.68%	-22.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.27%	4.22%	+5.05%

Volatility

EURL vs. EUFN - Volatility Comparison

Direxion Daily FTSE Europe Bull 3x Shares (EURL) has a higher volatility of 22.57% compared to iShares MSCI Europe Financials ETF (EUFN) at 9.84%. This indicates that EURL's price experiences larger fluctuations and is considered to be riskier than EUFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EURL	EUFN	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.57%	9.84%	+12.73%
Volatility (6M) Calculated over the trailing 6-month period	32.59%	14.70%	+17.89%
Volatility (1Y) Calculated over the trailing 1-year period	52.28%	22.21%	+30.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.65%	21.57%	+31.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.51%	24.53%	+30.98%