EVAV vs. TOAK

Last updated Jun 4, 2026

EVAV (Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares) and TOAK (Twin Oak Short Horizon Absolute Return ETF) are both exchange-traded funds - EVAV is a Leveraged Equities fund tracking the Indxx US Electric and Autonomous Vehicles Index - Benchmark TR Gross (200%), while TOAK is a Multistrategy fund actively managed by Twin Oak. EVAV is passively managed, while TOAK is actively managed. At a correlation of -0.12, they often move in opposite directions. EVAV charges 0.98%/yr vs 0.25%/yr for TOAK.

Performance

EVAV vs. TOAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and Twin Oak Short Horizon Absolute Return ETF (TOAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EVAV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TOAK

• 1D: 0.03%
• 1M: 0.24%
• YTD: 1.32%
• 6M: 1.55%
• 1Y: 3.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVAV vs. TOAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.00%	33.87%	46.31%
TOAK Twin Oak Short Horizon Absolute Return ETF	1.32%	4.28%	1.51%

Correlation

The correlation between EVAV and TOAK is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	-0.12

Return for Risk

EVAV vs. TOAK — Risk / Return Rank

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

TOAK

TOAK Risk / Return Rank: 52
TOAK Sharpe Ratio Rank: 36
TOAK Sortino Ratio Rank: 37
TOAK Omega Ratio Rank: 96
TOAK Calmar Ratio Rank: 42
TOAK Martin Ratio Rank: 49

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.

EVAV vs. TOAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and Twin Oak Short Horizon Absolute Return ETF (TOAK). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EVAV	TOAK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.82	—

Drawdowns

Drawdown Indicators

	EVAV	TOAK	Difference
Max Drawdown Largest peak-to-trough decline	—	-1.81%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.81%	—
Current Drawdown Current decline from peak	—	-1.72%	—
Average Drawdown Average peak-to-trough decline	—	-0.10%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.46%	—

Volatility

Volatility by Period

	EVAV	TOAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.92%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	2.22%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	2.22%	—

EVAV vs. TOAK - Expense Ratio Comparison

EVAV has a 0.98% expense ratio, which is higher than TOAK's 0.25% expense ratio.

Dividends

EVAV vs. TOAK - Dividend Comparison

EVAV's dividend yield for the trailing twelve months is around 0.81%, while TOAK has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.81%	0.97%	2.52%	2.34%	0.51%
TOAK Twin Oak Short Horizon Absolute Return ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVAV and TOAK in my portfolio?

EVAV and TOAK have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVAV or TOAK?

On fees, TOAK is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVAV or TOAK?

TOAK is cheaper with a 0.25% expense ratio, compared with 0.98% for EVAV.

Which ETF pays a higher dividend yield, EVAV or TOAK?

EVAV has the higher dividend yield at 0.81%, compared with 0.00% for TOAK.

What is the main difference between EVAV and TOAK?

EVAV is categorized as Leveraged Equities, while TOAK is Multistrategy. They also come from different issuers: Direxion and Twin Oak. Their fees differ too: 0.98% for EVAV and 0.25% for TOAK.