FLYD vs. ELIS

Last updated Jun 4, 2026

FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) and ELIS (Direxion Daily LLY Bear 1X Shares) are both Inverse Equities funds. FLYD is passively managed, while ELIS is actively managed. At a 0.25 correlation, their price movements are largely independent. FLYD charges 0.95%/yr vs 0.97%/yr for ELIS.

Performance

FLYD vs. ELIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and Direxion Daily LLY Bear 1X Shares (ELIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FLYD

• 1D: 3.25%
• 1M: -18.38%
• YTD: -11.20%
• 6M: -19.27%
• 1Y: -48.13%
• 3Y*: -55.26%
• 5Y*: —
• 10Y*: —

ELIS

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

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

FLYD vs. ELIS - Yearly Performance Comparison

	2026 (YTD)	2025
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	-11.20%	-65.72%
ELIS Direxion Daily LLY Bear 1X Shares	11.37%	-29.46%

Correlation

The correlation between FLYD and ELIS is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.25

FLYD vs. ELIS - Sectors Allocation Comparison

Sectors	FLYD	ELIS
Consumer Cyclical	51.9%	-
Industrials	22.8%	-
Technology	16.1%	-
Communication Services	9.0%	-
Real Estate	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Utilities	-	-

Return for Risk

FLYD vs. ELIS — Risk / Return Rank

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

FLYD

FLYD Risk / Return Rank: 3
FLYD Sharpe Ratio Rank: 4
FLYD Sortino Ratio Rank: 4
FLYD Omega Ratio Rank: 4
FLYD Calmar Ratio Rank: 1
FLYD Martin Ratio Rank: 3

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.

FLYD vs. ELIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and Direxion Daily LLY Bear 1X Shares (ELIS). 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.

	FLYD	ELIS	Difference
Sharpe ratio Return per unit of total volatility	-0.65	—	—
Sortino ratio Return per unit of downside risk	-0.67	—	—
Omega ratio Gain probability vs. loss probability	0.92	—	—
Calmar ratio Return relative to maximum drawdown	-0.88	—	—
Martin ratio Return relative to average drawdown	-1.30	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FLYD	ELIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.75	—	—

Drawdowns

Drawdown Indicators

	FLYD	ELIS	Difference
Max Drawdown Largest peak-to-trough decline	-98.11%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-54.89%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-93.41%	—	—
Current Drawdown Current decline from peak	-97.95%	—	—
Average Drawdown Average peak-to-trough decline	-83.12%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	37.06%	—	—

Volatility

Volatility by Period

	FLYD	ELIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	59.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	74.47%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.70%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.70%	—	—

FLYD vs. ELIS - Expense Ratio Comparison

FLYD has a 0.95% expense ratio, which is lower than ELIS's 0.97% expense ratio.

Dividends

FLYD vs. ELIS - Dividend Comparison

FLYD has not paid dividends to shareholders, while ELIS's dividend yield for the trailing twelve months is around 5.26%.

Position	TTM	2025
ELIS Direxion Daily LLY Bear 1X Shares	5.26%	5.86%
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLYD and ELIS in my portfolio?

FLYD and ELIS 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 ETF is better, FLYD or ELIS?

On fees, FLYD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLYD or ELIS?

FLYD is cheaper with a 0.95% expense ratio, compared with 0.97% for ELIS.

Which ETF pays a higher dividend yield, FLYD or ELIS?

ELIS has the higher dividend yield at 5.26%, compared with 0.00% for FLYD.

What is the main difference between FLYD and ELIS?

They also come from different issuers: REX and Direxion. Their fees differ too: 0.95% for FLYD and 0.97% for ELIS.