HYGI vs. NFXS

Last updated Jun 25, 2026

HYGI (iShares Inflation Hedged High Yield Bond ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while NFXS is a Inverse Equities fund actively managed by Direxion. HYGI is passively managed, while NFXS is actively managed. At a correlation of -0.30, they often move in opposite directions. HYGI charges 0.52%/yr vs 1.03%/yr for NFXS.

Performance

HYGI vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Inflation Hedged High Yield Bond ETF (HYGI) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYGI

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

NFXS

• 1D: 1.44%
• 1M: 23.02%
• YTD: 26.00%
• 6M: 25.81%
• 1Y: 69.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HYGI vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	0.83%
NFXS Direxion Daily NFLX Bear 1X Shares	26.00%	-8.56%	-21.49%

Correlation

The correlation between HYGI and NFXS is -0.15, 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 (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	-0.30

The correlation between HYGI and NFXS shifts across timeframes, from -0.30 (all time) to -0.15 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HYGI vs. NFXS — Risk / Return Rank

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

HYGI

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

NFXS

NFXS Risk / Return Rank: 63
NFXS Sharpe Ratio Rank: 75
NFXS Sortino Ratio Rank: 69
NFXS Omega Ratio Rank: 76
NFXS Calmar Ratio Rank: 52
NFXS Martin Ratio Rank: 43

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.

HYGI vs. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.

	HYGI	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	—	2.08	—
Sortino ratio: Return per unit of downside risk	—	2.72	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	2.24	—
Martin ratio: Return relative to average drawdown	—	6.13	—

Drawdowns

Drawdown Indicators

	HYGI	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	—	-50.37%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-31.31%	—
Current Drawdown Current decline from peak	—	-11.63%	—
Average Drawdown Average peak-to-trough decline	—	-31.89%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.44%	—

Volatility

Volatility by Period

	HYGI	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.76%	—
Volatility (6M) Calculated over the trailing 6-month period	—	26.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	33.78%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	34.63%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	34.63%	—

HYGI vs. NFXS - Expense Ratio Comparison

HYGI has a 0.52% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

HYGI vs. NFXS - Dividend Comparison

HYGI has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 2.81%.

Position	TTM	2025	2024	2023	2022
HYGI iShares Inflation Hedged High Yield Bond ETF	0.97%	3.41%	6.08%	6.22%	3.19%
NFXS Direxion Daily NFLX Bear 1X Shares	2.81%	3.53%	0.87%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYGI and NFXS in my portfolio?

HYGI and NFXS have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYGI or NFXS?

On fees, HYGI is cheaper at 0.52% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYGI or NFXS?

HYGI is cheaper with a 0.52% expense ratio, compared with 1.03% for NFXS.

Which ETF pays a higher dividend yield, HYGI or NFXS?

NFXS has the higher dividend yield at 2.81%, compared with 0.97% for HYGI.

What is the main difference between HYGI and NFXS?

HYGI is categorized as Inflation-Protected Bonds, while NFXS is Inverse Equities. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.52% for HYGI and 1.03% for NFXS.