FLYD vs. SKRE
FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both Inverse Equities funds - FLYD tracks the MerQube MicroSectors U.S. Travel Index while SKRE tracks the S&P Regional Banks Select Industry. Both are passively managed. Over the past year, FLYD returned -50.80% vs -50.13% for SKRE. Their 0.56 correlation means they have sometimes moved together and sometimes differently. FLYD charges 0.95%/yr vs 0.75%/yr for SKRE.
Performance
FLYD vs. SKRE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FLYD having a -35.79% return and SKRE slightly lower at -36.36%.
FLYD
- 1D
- -4.90%
- 1M
- -5.05%
- 6M
- -41.66%
- YTD
- -35.79%
- 1Y
- -50.80%
- 3Y*
- -55.10%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -63.67%
SKRE
- 1D
- -1.86%
- 1M
- -7.49%
- 6M
- -22.04%
- YTD
- -36.36%
- 1Y
- -50.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $99.59K | $120.72K | $126.93K | |
| $134.47K | $146.04K | $238.58K |
FLYD vs. SKRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | -35.79% | -60.42% | -59.16% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | -36.36% | -31.29% | -44.47% |
Correlation
The correlation between FLYD and SKRE is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024 | 0.56 |
The correlation between FLYD and SKRE has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.
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Return for Risk
FLYD vs. SKRE — Risk / Return Rank
FLYD
SKRE
FLYD vs. SKRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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.
| FLYD | SKRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.80 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.98 | +0.08 |
| Martin ratioReturn relative to average drawdown | -1.66 | -1.62 | -0.04 |
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Drawdowns
FLYD vs. SKRE - Drawdown Comparison
The maximum FLYD drawdown since its inception was -98.52%, which is greater than SKRE's maximum drawdown of -79.35%. Use the drawdown chart below to compare losses from any high point for FLYD and SKRE.
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Drawdown Indicators
| FLYD | SKRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.52% | -79.35% | -19.17% |
Max Drawdown (1Y)Largest decline over 1 year | -57.09% | -51.50% | -5.59% |
Max Drawdown (3Y)Largest decline over 3 years | -94.84% | — | — |
Current DrawdownCurrent decline from peak | -98.52% | -79.35% | -19.17% |
Average DrawdownAverage peak-to-trough decline | -83.66% | -49.13% | -34.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.58% | 30.92% | -0.34% |
Volatility
FLYD vs. SKRE - Volatility Comparison
MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has a higher volatility of 22.74% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 10.87%. This indicates that FLYD's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLYD | SKRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.74% | 10.87% | +11.87% |
Volatility (6M)Calculated over the trailing 6-month period | 64.36% | 30.26% | +34.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.85% | 45.79% | +31.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.52% | 54.72% | +28.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.52% | 54.72% | +28.80% |
FLYD vs. SKRE - Expense Ratio Comparison
FLYD has a 0.95% expense ratio, which is higher than SKRE's 0.75% expense ratio.
Dividends
FLYD vs. SKRE - Dividend Comparison
FLYD has not paid dividends to shareholders, while SKRE's dividend yield for the trailing twelve months is around 0.40%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | 0.40% | 0.26% | 3.16% |
Frequently Asked Questions
FLYD and SKRE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYD has higher volatility (22.74%) compared to SKRE (10.87%). In terms of maximum drawdown, FLYD dropped -98.52% vs SKRE's -79.35%.
On 1-year performance, SKRE leads with -50.13% vs -50.80% for FLYD. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 10.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SKRE has performed better with a -50.13% return vs -50.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKRE is cheaper with a 0.75% expense ratio, compared with 0.95% for FLYD.
SKRE has the higher dividend yield at 0.40%, compared with 0.00% for FLYD.
FLYD tracks MerQube MicroSectors U.S. Travel Index, while SKRE tracks S&P Regional Banks Select Industry. They also come from different issuers: REX and Tuttle. Their fees differ too: 0.95% for FLYD and 0.75% for SKRE.
FLYD currently has the higher Sharpe Ratio (-0.66 vs -1.10), 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.
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