FLYD vs. MSFD
Compare and contrast key facts about MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and Direxion Daily MSFT Bear 1X Shares (MSFD).
FLYD and MSFD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLYD is a passively managed fund by REX that tracks the performance of the MerQube MicroSectors U.S. Travel Index. It was launched on Jun 22, 2022. MSFD is a passively managed fund by Direxion that tracks the performance of the Microsoft Corporation (-100%). It was launched on Sep 6, 2022. Both FLYD and MSFD 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
FLYD vs. MSFD - Performance Comparison
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FLYD vs. MSFD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | 31.58% | -60.42% | -54.13% | -75.14% | -1.71% |
MSFD Direxion Daily MSFT Bear 1X Shares | 28.73% | -13.36% | -7.86% | -35.90% | 3.88% |
Returns By Period
In the year-to-date period, FLYD achieves a 31.58% return, which is significantly higher than MSFD's 28.73% return.
FLYD
- 1D
- -12.05%
- 1M
- 19.00%
- YTD
- 31.58%
- 6M
- 12.07%
- 1Y
- -60.68%
- 3Y*
- -51.49%
- 5Y*
- —
- 10Y*
- —
MSFD
- 1D
- -3.15%
- 1M
- 6.11%
- YTD
- 28.73%
- 6M
- 38.42%
- 1Y
- -0.32%
- 3Y*
- -7.18%
- 5Y*
- —
- 10Y*
- —
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FLYD vs. MSFD - Expense Ratio Comparison
FLYD has a 0.95% expense ratio, which is lower than MSFD's 1.06% expense ratio.
Return for Risk
FLYD vs. MSFD — Risk / Return Rank
FLYD
MSFD
FLYD vs. MSFD - 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 MSFT Bear 1X Shares (MSFD). 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 | MSFD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.66 | -0.01 | -0.64 |
Sortino ratioReturn per unit of downside risk | -0.66 | 0.17 | -0.83 |
Omega ratioGain probability vs. loss probability | 0.91 | 1.02 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | -0.73 | 0.02 | -0.75 |
Martin ratioReturn relative to average drawdown | -0.83 | 0.03 | -0.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLYD | MSFD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | -0.01 | -0.64 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.72 | -0.39 | -0.33 |
Correlation
The correlation between FLYD and MSFD is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FLYD vs. MSFD - Dividend Comparison
FLYD has not paid dividends to shareholders, while MSFD's dividend yield for the trailing twelve months is around 2.43%.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MSFD Direxion Daily MSFT Bear 1X Shares | 2.43% | 3.33% | 4.46% | 4.43% | 0.74% |
Drawdowns
FLYD vs. MSFD - Drawdown Comparison
The maximum FLYD drawdown since its inception was -97.96%, which is greater than MSFD's maximum drawdown of -59.90%. Use the drawdown chart below to compare losses from any high point for FLYD and MSFD.
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Drawdown Indicators
| FLYD | MSFD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.96% | -59.90% | -38.06% |
Max Drawdown (1Y)Largest decline over 1 year | -82.41% | -34.84% | -47.57% |
Current DrawdownCurrent decline from peak | -96.97% | -41.94% | -55.03% |
Average DrawdownAverage peak-to-trough decline | -82.45% | -41.28% | -41.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.38% | 25.22% | +47.16% |
Volatility
FLYD vs. MSFD - Volatility Comparison
MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has a higher volatility of 27.93% compared to Direxion Daily MSFT Bear 1X Shares (MSFD) at 6.60%. This indicates that FLYD's price experiences larger fluctuations and is considered to be riskier than MSFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLYD | MSFD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.93% | 6.60% | +21.33% |
Volatility (6M)Calculated over the trailing 6-month period | 54.96% | 18.84% | +36.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 92.80% | 26.78% | +66.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.50% | 25.77% | +57.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.50% | 25.77% | +57.73% |