FDIG vs. NFXS

Last updated Jun 24, 2026

FDIG (Fidelity Crypto Industry and Digital Payments ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - FDIG is a Blockchain fund tracking the Fidelity Crypto Industry and Digital Payments Index, while NFXS is a Inverse Equities fund actively managed by Direxion. FDIG is passively managed, while NFXS is actively managed. Over the past year, FDIG returned 44.87% vs 64.26% for NFXS. At a correlation of -0.26, they often move in opposite directions. FDIG charges 0.39%/yr vs 1.03%/yr for NFXS.

Performance

FDIG vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDIG achieves a 17.50% return, which is significantly lower than NFXS's 24.21% return.

FDIG

• 1D: -1.95%
• 1M: 0.66%
• YTD: 17.50%
• 6M: 11.04%
• 1Y: 44.87%
• 3Y*: 36.48%
• 5Y*: —
• 10Y*: —

NFXS

• 1D: 0.09%
• 1M: 21.28%
• YTD: 24.21%
• 6M: 24.00%
• 1Y: 64.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDIG vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FDIG Fidelity Crypto Industry and Digital Payments ETF	17.50%	19.92%	24.73%
NFXS Direxion Daily NFLX Bear 1X Shares	24.21%	-8.56%	-21.49%

Correlation

The correlation between FDIG and NFXS is -0.17, 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	-0.17
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	-0.26

Return for Risk

FDIG vs. NFXS — Risk / Return Rank

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

FDIG

FDIG Risk / Return Rank: 24
FDIG Sharpe Ratio Rank: 26
FDIG Sortino Ratio Rank: 27
FDIG Omega Ratio Rank: 25
FDIG Calmar Ratio Rank: 22
FDIG Martin Ratio Rank: 18

NFXS

NFXS Risk / Return Rank: 55
NFXS Sharpe Ratio Rank: 65
NFXS Sortino Ratio Rank: 60
NFXS Omega Ratio Rank: 68
NFXS Calmar Ratio Rank: 45
NFXS Martin Ratio Rank: 39

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.

FDIG vs. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Crypto Industry and Digital Payments ETF (FDIG) 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.

	FDIG	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	0.89	1.91	-1.02
Sortino ratio: Return per unit of downside risk	1.45	2.55	-1.10
Omega ratio: Gain probability vs. loss probability	1.17	1.36	-0.19
Calmar ratio: Return relative to maximum drawdown	0.97	2.06	-1.10
Martin ratio: Return relative to average drawdown	1.82	5.64	-3.81

FDIG vs. NFXS - Sharpe Ratio Comparison

The current FDIG Sharpe Ratio is 0.89, which is lower than the NFXS Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of FDIG and NFXS, 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

FDIG vs. NFXS - Drawdown Comparison

The maximum FDIG drawdown since its inception was -61.35%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for FDIG and NFXS.

Drawdown Indicators

	FDIG	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-61.35%	-50.37%	-10.98%
Max Drawdown (1Y) Largest decline over 1 year	-46.69%	-31.31%	-15.38%
Max Drawdown (3Y) Largest decline over 3 years	-49.66%	—	—
Current Drawdown Current decline from peak	-22.18%	-12.88%	-9.30%
Average Drawdown Average peak-to-trough decline	-27.48%	-31.93%	+4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.69%	11.45%	+13.24%

Volatility

FDIG vs. NFXS - Volatility Comparison

Fidelity Crypto Industry and Digital Payments ETF (FDIG) has a higher volatility of 15.67% compared to Direxion Daily NFLX Bear 1X Shares (NFXS) at 7.74%. This indicates that FDIG'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.

Volatility by Period

	FDIG	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.67%	7.74%	+7.93%
Volatility (6M) Calculated over the trailing 6-month period	37.03%	26.22%	+10.81%
Volatility (1Y) Calculated over the trailing 1-year period	50.67%	33.81%	+16.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.91%	34.65%	+26.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.91%	34.65%	+26.26%

FDIG vs. NFXS - Expense Ratio Comparison

FDIG has a 0.39% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

FDIG vs. NFXS - Dividend Comparison

FDIG's dividend yield for the trailing twelve months is around 1.39%, less than NFXS's 3.23% yield.

Position	TTM	2025	2024	2023
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.39%	1.14%	1.17%	0.18%
NFXS Direxion Daily NFLX Bear 1X Shares	3.23%	3.53%	0.87%	0.00%

Frequently Asked Questions

Can I hold both FDIG and NFXS in my portfolio?

FDIG and NFXS have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDIG or NFXS?

FDIG has higher volatility (15.67%) compared to NFXS (7.74%). In terms of maximum drawdown, FDIG dropped -61.35% vs NFXS's -50.37%.

Which ETF is better, FDIG or NFXS?

On 1-year performance, NFXS leads with 64.26% vs 44.87% for FDIG. On fees, FDIG is cheaper at 0.39% per year. On volatility, NFXS has been the lower-risk option at 7.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDIG or NFXS?

Over the 1-year period, NFXS has performed better with a 64.26% return vs 44.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDIG or NFXS?

FDIG is cheaper with a 0.39% expense ratio, compared with 1.03% for NFXS.

Which ETF pays a higher dividend yield, FDIG or NFXS?

NFXS has the higher dividend yield at 3.23%, compared with 1.39% for FDIG.

What is the main difference between FDIG and NFXS?

FDIG is categorized as Blockchain, while NFXS is Inverse Equities. They also come from different issuers: Fidelity and Direxion. Their fees differ too: 0.39% for FDIG and 1.03% for NFXS.

Which has better risk-adjusted returns?

NFXS currently has the higher Sharpe Ratio (1.91 vs 0.89), 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.