FITE vs. DFEN

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR S&P Kensho Future Security ETF (FITE) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN).

FITE and DFEN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FITE is a passively managed fund by State Street that tracks the performance of the S&P Kensho Future Security Index. It was launched on Dec 26, 2017. DFEN is a passively managed fund by Direxion that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index (300%). It was launched on May 3, 2017. Both FITE and DFEN 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

FITE vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Kensho Future Security ETF (FITE) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

FITE vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FITE SPDR S&P Kensho Future Security ETF	0.28%	27.73%	21.63%	28.48%	-17.98%	14.45%	20.38%	33.96%	-0.53%	-0.35%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	-1.16%	156.62%	27.07%	24.70%	6.99%	12.72%	-70.23%	95.09%	-32.86%	-0.22%

Returns By Period

In the year-to-date period, FITE achieves a 0.28% return, which is significantly higher than DFEN's -1.16% return.

FITE

• 1D: 4.23%
• 1M: -3.24%
• YTD: 0.28%
• 6M: 0.05%
• 1Y: 36.53%
• 3Y*: 22.85%
• 5Y*: 12.17%
• 10Y*: —

DFEN

• 1D: 11.19%
• 1M: -30.09%
• YTD: -1.16%
• 6M: 1.22%
• 1Y: 127.12%
• 3Y*: 56.37%
• 5Y*: 30.53%
• 10Y*: —

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

FITE vs. DFEN - Expense Ratio Comparison

FITE has a 0.45% expense ratio, which is lower than DFEN's 0.99% expense ratio.

DFEN

Direxion Daily Aerospace & Defense Bull 3X Shares

FITE

SPDR S&P Kensho Future Security ETF

Return for Risk

FITE vs. DFEN — Risk / Return Rank

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

FITE

FITE Risk / Return Rank: 75
FITE Sharpe Ratio Rank: 77
FITE Sortino Ratio Rank: 78
FITE Omega Ratio Rank: 70
FITE Calmar Ratio Rank: 83
FITE Martin Ratio Rank: 69

DFEN

DFEN Risk / Return Rank: 88
DFEN Sharpe Ratio Rank: 89
DFEN Sortino Ratio Rank: 87
DFEN Omega Ratio Rank: 84
DFEN Calmar Ratio Rank: 91
DFEN Martin Ratio Rank: 88

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.

FITE vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Future Security ETF (FITE) 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.

	FITE	DFEN	Difference
Sharpe ratio Return per unit of total volatility	1.35	1.83	-0.48
Sortino ratio Return per unit of downside risk	1.95	2.27	-0.32
Omega ratio Gain probability vs. loss probability	1.25	1.32	-0.07
Calmar ratio Return relative to maximum drawdown	2.29	3.03	-0.74
Martin ratio Return relative to average drawdown	6.72	10.38	-3.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FITE vs. DFEN - Sharpe Ratio Comparison

The current FITE Sharpe Ratio is 1.35, which is comparable to the DFEN Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of FITE and DFEN, 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

	FITE	DFEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	1.83	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.52	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.21	+0.41

Correlation

The correlation between FITE and DFEN is 0.74, 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

FITE vs. DFEN - Dividend Comparison

FITE's dividend yield for the trailing twelve months is around 0.20%, less than DFEN's 9.03% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FITE SPDR S&P Kensho Future Security ETF	0.20%	0.23%	0.12%	0.13%	0.12%	0.92%	0.88%	0.44%	1.79%	0.00%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	9.03%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%

Drawdowns

FITE vs. DFEN - Drawdown Comparison

The maximum FITE drawdown since its inception was -36.90%, smaller than the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for FITE and DFEN.

Drawdown Indicators

	FITE	DFEN	Difference
Max Drawdown Largest peak-to-trough decline	-36.90%	-91.36%	+54.46%
Max Drawdown (1Y) Largest decline over 1 year	-15.35%	-41.75%	+26.40%
Max Drawdown (5Y) Largest decline over 5 years	-27.14%	-56.23%	+29.09%
Current Drawdown Current decline from peak	-11.77%	-35.23%	+23.46%
Average Drawdown Average peak-to-trough decline	-7.50%	-45.54%	+38.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.24%	12.18%	-6.94%

Volatility

FITE vs. DFEN - Volatility Comparison

The current volatility for SPDR S&P Kensho Future Security ETF (FITE) is 8.62%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 23.85%. This indicates that FITE 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

	FITE	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.62%	23.85%	-15.23%
Volatility (6M) Calculated over the trailing 6-month period	19.79%	48.18%	-28.39%
Volatility (1Y) Calculated over the trailing 1-year period	27.13%	69.88%	-42.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.98%	59.00%	-37.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.94%	71.31%	-48.37%