IGLD vs. DFEN
IGLD (FT Vest Gold Strategy Target Income ETF) and DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) are both exchange-traded funds - IGLD is a Gold fund actively managed by First Trust, while DFEN is a Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300% Daily). IGLD is actively managed, while DFEN is passively managed. Over the past 5 years, IGLD returned 13.37%/yr vs 33.49%/yr for DFEN. At a 0.14 correlation, their price movements are largely independent. IGLD charges 0.85%/yr vs 0.96%/yr for DFEN.
Performance
IGLD vs. DFEN - Performance Comparison
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Returns By Period
In the year-to-date period, IGLD achieves a -3.05% return, which is significantly lower than DFEN's 20.97% return.
IGLD
- 1D
- -0.50%
- 1M
- -5.65%
- YTD
- -3.05%
- 6M
- -3.19%
- 1Y
- 18.24%
- 3Y*
- 20.70%
- 5Y*
- 13.37%
- 10Y*
- —
DFEN
- 1D
- -4.32%
- 1M
- 17.09%
- YTD
- 20.97%
- 6M
- 21.25%
- 1Y
- 87.39%
- 3Y*
- 67.96%
- 5Y*
- 33.49%
- 10Y*
- —
IGLD vs. DFEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGLD FT Vest Gold Strategy Target Income ETF | -3.05% | 47.46% | 19.36% | 9.24% | -2.34% | 4.30% |
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 20.97% | 156.62% | 27.07% | 24.70% | 6.99% | 4.27% |
Correlation
The correlation between IGLD and DFEN is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021 | 0.14 |
The correlation between IGLD and DFEN shifts across timeframes, from 0.14 (5 years) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGLD vs. DFEN — Risk / Return Rank
IGLD
DFEN
IGLD vs. DFEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Gold Strategy Target Income ETF (IGLD) 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.
| IGLD | DFEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 2.21 | -1.37 |
| Martin ratioReturn relative to average drawdown | 2.47 | 5.08 | -2.61 |
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Drawdowns
IGLD vs. DFEN - Drawdown Comparison
The maximum IGLD drawdown since its inception was -21.90%, smaller than the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for IGLD and DFEN.
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Drawdown Indicators
| IGLD | DFEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.90% | -91.36% | +69.46% |
Max Drawdown (1Y)Largest decline over 1 year | -21.90% | -41.75% | +19.85% |
Max Drawdown (3Y)Largest decline over 3 years | -21.90% | -43.13% | +21.23% |
Max Drawdown (5Y)Largest decline over 5 years | -21.90% | -55.30% | +33.40% |
Current DrawdownCurrent decline from peak | -19.11% | -20.73% | +1.62% |
Average DrawdownAverage peak-to-trough decline | -5.34% | -45.15% | +39.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.46% | 18.16% | -10.70% |
Volatility
IGLD vs. DFEN - Volatility Comparison
The current volatility for FT Vest Gold Strategy Target Income ETF (IGLD) is 8.12%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 25.14%. This indicates that IGLD 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.
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Volatility by Period
| IGLD | DFEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.12% | 25.14% | -17.02% |
Volatility (6M)Calculated over the trailing 6-month period | 22.26% | 56.03% | -33.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.31% | 66.17% | -41.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.45% | 60.80% | -45.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.28% | 71.64% | -56.36% |
IGLD vs. DFEN - Expense Ratio Comparison
IGLD has a 0.85% expense ratio, which is lower than DFEN's 0.96% expense ratio.
Dividends
IGLD vs. DFEN - Dividend Comparison
IGLD's dividend yield for the trailing twelve months is around 18.79%, more 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% |
IGLD FT Vest Gold Strategy Target Income ETF | 18.79% | 9.91% | 20.81% | 7.85% | 4.45% | 2.24% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGLD and DFEN 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.
DFEN has higher volatility (25.14%) compared to IGLD (8.12%). In terms of maximum drawdown, IGLD dropped -21.90% vs DFEN's -91.36%.
On 5-year performance, DFEN leads with 33.49% vs 13.37% for IGLD. On fees, IGLD is cheaper at 0.85% per year. On volatility, IGLD has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DFEN has performed better with a 33.49% return vs 13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGLD is cheaper with a 0.85% expense ratio, compared with 0.96% for DFEN.
IGLD has the higher dividend yield at 18.79%, compared with 7.38% for DFEN.
IGLD is categorized as Gold, while DFEN is Leveraged Equities. They also come from different issuers: First Trust and Direxion. Their fees differ too: 0.85% for IGLD and 0.96% for DFEN.
DFEN currently has the higher Sharpe Ratio (1.40 vs 0.76), 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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