INTW vs. ERY

Last updated Jun 24, 2026

INTW (GraniteShares 2x Long INTC Daily ETF) and ERY (Direxion Daily Energy Bear 2X Shares) are both Leveraged Equities funds. INTW is actively managed, while ERY is passively managed. Over the past year, INTW returned 1964.55% vs -42.88% for ERY. At a correlation of -0.14, they often move in opposite directions. INTW charges 1.50%/yr vs 1.07%/yr for ERY.

Performance

INTW vs. ERY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long INTC Daily ETF (INTW) and Direxion Daily Energy Bear 2X Shares (ERY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INTW achieves a 750.22% return, which is significantly higher than ERY's -37.05% return.

INTW

• 1D: -12.49%
• 1M: 12.21%
• YTD: 750.22%
• 6M: 775.58%
• 1Y: 1,964.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ERY

• 1D: -2.05%
• 1M: 15.94%
• YTD: -37.05%
• 6M: -37.59%
• 1Y: -42.88%
• 3Y*: -25.97%
• 5Y*: -36.31%
• 10Y*: -33.21%

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

INTW vs. ERY - Yearly Performance Comparison

	2026 (YTD)	2025
INTW GraniteShares 2x Long INTC Daily ETF	750.22%	60.89%
ERY Direxion Daily Energy Bear 2X Shares	-37.05%	-12.17%

Correlation

The correlation between INTW and ERY is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	-0.14

Return for Risk

INTW vs. ERY — Risk / Return Rank

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

INTW

INTW Risk / Return Rank: 98
INTW Sharpe Ratio Rank: 100
INTW Sortino Ratio Rank: 96
INTW Omega Ratio Rank: 94
INTW Calmar Ratio Rank: 99
INTW Martin Ratio Rank: 99

ERY

ERY Risk / Return Rank: 2
ERY Sharpe Ratio Rank: 1
ERY Sortino Ratio Rank: 1
ERY Omega Ratio Rank: 2
ERY Calmar Ratio Rank: 3
ERY Martin Ratio Rank: 2

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.

INTW vs. ERY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long INTC Daily ETF (INTW) and Direxion Daily Energy Bear 2X Shares (ERY). 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.

	INTW	ERY	Difference
Sharpe ratio: Return per unit of total volatility	13.25	-1.04	+14.29
Sortino ratio: Return per unit of downside risk	5.13	-1.61	+6.74
Omega ratio: Gain probability vs. loss probability	1.65	0.83	+0.81
Calmar ratio: Return relative to maximum drawdown	40.32	-0.76	+41.08
Martin ratio: Return relative to average drawdown	91.49	-1.35	+92.85

INTW vs. ERY - Sharpe Ratio Comparison

The current INTW Sharpe Ratio is 13.25, which is higher than the ERY Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of INTW and ERY, 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

INTW vs. ERY - Drawdown Comparison

The maximum INTW drawdown since its inception was -60.58%, smaller than the maximum ERY drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for INTW and ERY.

Drawdown Indicators

	INTW	ERY	Difference
Max Drawdown Largest peak-to-trough decline	-60.58%	-99.99%	+39.41%
Max Drawdown (1Y) Largest decline over 1 year	-49.34%	-56.88%	+7.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-67.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-94.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.66%	—
Current Drawdown Current decline from peak	-12.49%	-99.99%	+87.50%
Average Drawdown Average peak-to-trough decline	-29.66%	-96.91%	+67.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.70%	31.69%	-9.99%

Volatility

INTW vs. ERY - Volatility Comparison

GraniteShares 2x Long INTC Daily ETF (INTW) has a higher volatility of 55.81% compared to Direxion Daily Energy Bear 2X Shares (ERY) at 14.26%. This indicates that INTW's price experiences larger fluctuations and is considered to be riskier than ERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INTW	ERY	Difference
Volatility (1M) Calculated over the trailing 1-month period	55.81%	14.26%	+41.55%
Volatility (6M) Calculated over the trailing 6-month period	119.10%	33.31%	+85.79%
Volatility (1Y) Calculated over the trailing 1-year period	150.14%	41.74%	+108.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	148.88%	51.84%	+97.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	148.88%	70.55%	+78.33%

INTW vs. ERY - Expense Ratio Comparison

INTW has a 1.50% expense ratio, which is higher than ERY's 1.07% expense ratio.

Dividends

INTW vs. ERY - Dividend Comparison

INTW has not paid dividends to shareholders, while ERY's dividend yield for the trailing twelve months is around 3.30%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ERY Direxion Daily Energy Bear 2X Shares	3.30%	3.48%	4.13%	4.14%	0.32%	0.00%	0.43%	1.50%	0.56%
INTW GraniteShares 2x Long INTC Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INTW and ERY in my portfolio?

INTW and ERY have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INTW or ERY?

INTW has higher volatility (55.81%) compared to ERY (14.26%). In terms of maximum drawdown, INTW dropped -60.58% vs ERY's -99.99%.

Which ETF is better, INTW or ERY?

On 1-year performance, INTW leads with 1964.55% vs -42.88% for ERY. On fees, ERY is cheaper at 1.07% per year. On volatility, ERY has been the lower-risk option at 14.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INTW or ERY?

Over the 1-year period, INTW has performed better with a 1964.55% return vs -42.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INTW or ERY?

ERY is cheaper with a 1.07% expense ratio, compared with 1.50% for INTW.

Which ETF pays a higher dividend yield, INTW or ERY?

ERY has the higher dividend yield at 3.30%, compared with 0.00% for INTW.

What is the main difference between INTW and ERY?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for INTW and 1.07% for ERY.

Which has better risk-adjusted returns?

INTW currently has the higher Sharpe Ratio (13.25 vs -1.04), 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.