FTNJ vs. ERX

Last updated Jun 4, 2026

FTNJ (Franklin New Jersey Municipal Income ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - FTNJ is a Municipal Bonds fund tracking the Actively Managed, while ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%). Both are passively managed. At a correlation of -0.26, they often move in opposite directions. FTNJ charges 0.35%/yr vs 1.09%/yr for ERX.

Performance

FTNJ vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin New Jersey Municipal Income ETF (FTNJ) and Direxion Daily Energy Bull 2X Shares (ERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTNJ achieves a 1.80% return, which is significantly lower than ERX's 66.93% return.

FTNJ

• 1D: -0.06%
• 1M: 0.63%
• YTD: 1.80%
• 6M: 2.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ERX

• 1D: 2.68%
• 1M: -3.38%
• YTD: 66.93%
• 6M: 59.74%
• 1Y: 90.37%
• 3Y*: 23.69%
• 5Y*: 28.75%
• 10Y*: -8.79%

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

FTNJ vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025
FTNJ Franklin New Jersey Municipal Income ETF	1.80%	0.34%
ERX Direxion Daily Energy Bull 2X Shares	66.93%	-1.68%

Correlation

The correlation between FTNJ and ERX is -0.26, 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 (All Time) Calculated using the full available price history since Nov 11, 2025	-0.26

Return for Risk

FTNJ vs. ERX — Risk / Return Rank

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

ERX

ERX Risk / Return Rank: 61
ERX Sharpe Ratio Rank: 65
ERX Sortino Ratio Rank: 53
ERX Omega Ratio Rank: 51
ERX Calmar Ratio Rank: 76
ERX Martin Ratio Rank: 59

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.

FTNJ vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin New Jersey Municipal Income ETF (FTNJ) and Direxion Daily Energy Bull 2X Shares (ERX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FTNJ	ERX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.21	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.56	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	-0.09	+1.26

Drawdowns

FTNJ vs. ERX - Drawdown Comparison

The maximum FTNJ drawdown since its inception was -2.72%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for FTNJ and ERX.

Drawdown Indicators

	FTNJ	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-2.72%	-99.54%	+96.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-23.34%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-42.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.59%	—
Current Drawdown Current decline from peak	-0.20%	-91.57%	+91.37%
Average Drawdown Average peak-to-trough decline	-0.61%	-67.02%	+66.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.57%	—

Volatility

Volatility by Period

	FTNJ	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.49%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.35%	41.14%	-37.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	51.98%	-48.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	69.18%	-65.83%

FTNJ vs. ERX - Expense Ratio Comparison

FTNJ has a 0.35% expense ratio, which is lower than ERX's 1.09% expense ratio.

Dividends

FTNJ vs. ERX - Dividend Comparison

FTNJ's dividend yield for the trailing twelve months is around 1.98%, more than ERX's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERX Direxion Daily Energy Bull 2X Shares	1.61%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%
FTNJ Franklin New Jersey Municipal Income ETF	1.98%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTNJ and ERX in my portfolio?

FTNJ and ERX have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTNJ or ERX?

On fees, FTNJ is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTNJ or ERX?

FTNJ is cheaper with a 0.35% expense ratio, compared with 1.09% for ERX.

Which ETF pays a higher dividend yield, FTNJ or ERX?

FTNJ has the higher dividend yield at 1.98%, compared with 1.61% for ERX.

What is the main difference between FTNJ and ERX?

FTNJ is categorized as Municipal Bonds, while ERX is Leveraged Equities. FTNJ tracks Actively Managed, while ERX tracks Energy Select Sector Index (300%). They also come from different issuers: Franklin Templeton and Direxion. Their fees differ too: 0.35% for FTNJ and 1.09% for ERX.