IDVO vs. DFEN

Last updated Jun 21, 2026

IDVO (Amplify CWP International Enhanced Dividend Income ETF) and DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) are both exchange-traded funds - IDVO is a Derivative Income fund actively managed by Amplify, while DFEN is a Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300% Daily). IDVO is actively managed, while DFEN is passively managed. Over the past 3 years, IDVO returned 21.61%/yr vs 67.96%/yr for DFEN. A 0.51 correlation means they provide meaningful diversification when combined. IDVO charges 0.65%/yr vs 0.96%/yr for DFEN.

Performance

IDVO vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify CWP International Enhanced Dividend Income ETF (IDVO) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDVO achieves a 13.34% return, which is significantly lower than DFEN's 20.97% return.

IDVO

• 1D: 0.17%
• 1M: 0.36%
• YTD: 13.34%
• 6M: 14.21%
• 1Y: 35.01%
• 3Y*: 21.61%
• 5Y*: —
• 10Y*: —

DFEN

• 1D: -4.32%
• 1M: 17.09%
• YTD: 20.97%
• 6M: 21.25%
• 1Y: 87.39%
• 3Y*: 67.96%
• 5Y*: 33.49%
• 10Y*: —

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

IDVO vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IDVO Amplify CWP International Enhanced Dividend Income ETF	13.34%	36.46%	10.16%	17.53%	6.42%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	20.97%	156.62%	27.07%	24.70%	24.80%

Correlation

The correlation between IDVO and DFEN is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022	0.51

The correlation between IDVO and DFEN has been stable across timeframes, ranging from 0.47 to 0.51 - a consistent structural relationship.

IDVO vs. DFEN - Sectors Allocation Comparison

Sectors	IDVO	DFEN
Financial Services	19.9%	-
Basic Materials	17.1%	-
Energy	12.5%	-
Technology	10.7%	0.0%
Communication Services	10.3%	-
Consumer Defensive	8.2%	-
Healthcare	7.8%	-
Industrials	7.2%	18.7%
Consumer Cyclical	3.2%	-
Utilities	3.2%	-
Real Estate	-	-

Return for Risk

IDVO vs. DFEN — Risk / Return Rank

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

IDVO

IDVO Risk / Return Rank: 68
IDVO Sharpe Ratio Rank: 67
IDVO Sortino Ratio Rank: 64
IDVO Omega Ratio Rank: 68
IDVO Calmar Ratio Rank: 69
IDVO Martin Ratio Rank: 71

DFEN

DFEN Risk / Return Rank: 40
DFEN Sharpe Ratio Rank: 41
DFEN Sortino Ratio Rank: 42
DFEN Omega Ratio Rank: 37
DFEN Calmar Ratio Rank: 46
DFEN Martin Ratio Rank: 36

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.

IDVO vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify CWP International Enhanced Dividend Income ETF (IDVO) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.

	IDVO	DFEN	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.40	+0.69
Sortino ratio: Return per unit of downside risk	2.81	2.04	+0.77
Omega ratio: Gain probability vs. loss probability	1.38	1.24	+0.14
Calmar ratio: Return relative to maximum drawdown	3.28	2.21	+1.07
Martin ratio: Return relative to average drawdown	12.51	5.08	+7.43

IDVO vs. DFEN - Sharpe Ratio Comparison

The current IDVO Sharpe Ratio is 2.09, which is higher than the DFEN Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of IDVO and DFEN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IDVO vs. DFEN - Drawdown Comparison

The maximum IDVO drawdown since its inception was -15.46%, smaller than the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for IDVO and DFEN.

Drawdown Indicators

	IDVO	DFEN	Difference
Max Drawdown Largest peak-to-trough decline	-15.46%	-91.36%	+75.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.37%	-41.75%	+31.38%
Max Drawdown (3Y) Largest decline over 3 years	-15.46%	-43.13%	+27.67%
Max Drawdown (5Y) Largest decline over 5 years	—	-55.30%	—
Current Drawdown Current decline from peak	-1.93%	-20.73%	+18.80%
Average Drawdown Average peak-to-trough decline	-2.30%	-45.15%	+42.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	18.16%	-15.44%

Volatility

IDVO vs. DFEN - Volatility Comparison

The current volatility for Amplify CWP International Enhanced Dividend Income ETF (IDVO) is 5.96%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 25.14%. This indicates that IDVO experiences smaller price fluctuations and is considered to be less risky than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDVO	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	25.14%	-19.18%
Volatility (6M) Calculated over the trailing 6-month period	13.89%	56.03%	-42.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.30%	66.17%	-49.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	60.80%	-44.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.48%	71.64%	-55.16%

IDVO vs. DFEN - Expense Ratio Comparison

IDVO has a 0.65% expense ratio, which is lower than DFEN's 0.96% expense ratio.

Dividends

IDVO vs. DFEN - Dividend Comparison

IDVO's dividend yield for the trailing twelve months is around 5.52%, less than DFEN's 7.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	7.38%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%
IDVO Amplify CWP International Enhanced Dividend Income ETF	5.52%	5.42%	6.14%	5.72%	1.96%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IDVO and DFEN in my portfolio?

IDVO and DFEN have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDVO or DFEN?

DFEN has higher volatility (25.14%) compared to IDVO (5.96%). In terms of maximum drawdown, IDVO dropped -15.46% vs DFEN's -91.36%.

Which ETF is better, IDVO or DFEN?

On 3-year performance, DFEN leads with 67.96% vs 21.61% for IDVO. On fees, IDVO is cheaper at 0.65% per year. On volatility, IDVO has been the lower-risk option at 5.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDVO or DFEN?

Over the 3-year period, DFEN has performed better with a 67.96% return vs 21.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDVO or DFEN?

IDVO is cheaper with a 0.65% expense ratio, compared with 0.96% for DFEN.

Which ETF pays a higher dividend yield, IDVO or DFEN?

DFEN has the higher dividend yield at 7.38%, compared with 5.52% for IDVO.

What is the main difference between IDVO and DFEN?

IDVO is categorized as Derivative Income, while DFEN is Leveraged Equities. They also come from different issuers: Amplify and Direxion. Their fees differ too: 0.65% for IDVO and 0.96% for DFEN.

Which has better risk-adjusted returns?

IDVO currently has the higher Sharpe Ratio (2.09 vs 1.40), 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.