IAI vs. NFXS
IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both exchange-traded funds - IAI is a Financials Equities fund tracking the Dow Jones U.S. Select Investment Services Index, while NFXS is a Inverse Equities fund actively managed by Direxion. IAI is passively managed, while NFXS is actively managed. Over the past year, IAI returned 17.16% vs 64.26% for NFXS. At a correlation of -0.32, they often move in opposite directions. IAI charges 0.38%/yr vs 1.03%/yr for NFXS.
Performance
IAI vs. NFXS - Performance Comparison
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Returns By Period
In the year-to-date period, IAI achieves a 4.12% return, which is significantly lower than NFXS's 24.21% return.
IAI
- 1D
- -0.65%
- 1M
- 3.38%
- YTD
- 4.12%
- 6M
- 2.06%
- 1Y
- 17.16%
- 3Y*
- 29.87%
- 5Y*
- 14.88%
- 10Y*
- 19.81%
NFXS
- 1D
- 0.09%
- 1M
- 21.28%
- YTD
- 24.21%
- 6M
- 24.00%
- 1Y
- 64.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAI vs. NFXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 4.12% | 25.80% | 12.89% |
NFXS Direxion Daily NFLX Bear 1X Shares | 24.21% | -8.56% | -21.49% |
Correlation
The correlation between IAI and NFXS is -0.22, 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 | -0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024 | -0.32 |
The correlation between IAI and NFXS shifts across timeframes, from -0.32 (all time) to -0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAI vs. NFXS — Risk / Return Rank
IAI
NFXS
IAI vs. NFXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) 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.
| IAI | NFXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.36 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 2.06 | -1.02 |
| Martin ratioReturn relative to average drawdown | 2.96 | 5.64 | -2.67 |
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Drawdowns
IAI vs. NFXS - Drawdown Comparison
The maximum IAI drawdown since its inception was -75.46%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for IAI and NFXS.
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Drawdown Indicators
| IAI | NFXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.46% | -50.37% | -25.09% |
Max Drawdown (1Y)Largest decline over 1 year | -16.52% | -31.31% | +14.79% |
Max Drawdown (3Y)Largest decline over 3 years | -23.14% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.84% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.38% | — | — |
Current DrawdownCurrent decline from peak | -1.91% | -12.88% | +10.97% |
Average DrawdownAverage peak-to-trough decline | -22.61% | -31.93% | +9.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.80% | 11.45% | -5.65% |
Volatility
IAI vs. NFXS - Volatility Comparison
The current volatility for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) is 5.64%, while Direxion Daily NFLX Bear 1X Shares (NFXS) has a volatility of 7.74%. This indicates that IAI experiences smaller price fluctuations and is considered to be less risky than NFXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAI | NFXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 7.74% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 15.39% | 26.22% | -10.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.29% | 33.81% | -14.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.42% | 34.65% | -13.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.75% | 34.65% | -11.90% |
IAI vs. NFXS - Expense Ratio Comparison
IAI has a 0.38% expense ratio, which is lower than NFXS's 1.03% expense ratio.
Dividends
IAI vs. NFXS - Dividend Comparison
IAI's dividend yield for the trailing twelve months is around 1.10%, less than NFXS's 3.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF | 1.10% | 0.95% | 1.05% | 1.80% | 2.14% | 1.31% | 1.55% | 1.52% | 1.58% | 1.37% | 1.49% | 1.31% |
NFXS Direxion Daily NFLX Bear 1X Shares | 3.23% | 3.53% | 0.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IAI and NFXS have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFXS has higher volatility (7.74%) compared to IAI (5.64%). In terms of maximum drawdown, IAI dropped -75.46% vs NFXS's -50.37%.
On 1-year performance, NFXS leads with 64.26% vs 17.16% for IAI. On fees, IAI is cheaper at 0.38% per year. On volatility, IAI has been the lower-risk option at 5.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NFXS has performed better with a 64.26% return vs 17.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAI is cheaper with a 0.38% expense ratio, compared with 1.03% for NFXS.
NFXS has the higher dividend yield at 3.23%, compared with 1.10% for IAI.
IAI is categorized as Financials Equities, while NFXS is Inverse Equities. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.38% for IAI and 1.03% for NFXS.
NFXS currently has the higher Sharpe Ratio (1.91 vs 0.89), 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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