IVES vs. EVAV

Last updated Apr 1, 2026

Compare and contrast key facts about Dan IVES Wedbush AI Revolution ETF (IVES) and Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV).

IVES and EVAV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IVES is a passively managed fund by Wedbush that tracks the performance of the Solactive Wedbush Artificial Intelligence Index. It was launched on Jun 4, 2025. EVAV is a passively managed fund by Direxion that tracks the performance of the Indxx US Electric and Autonomous Vehicles Index - Benchmark TR Gross (200%). It was launched on Aug 10, 2022. Both IVES and EVAV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IVES vs. EVAV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dan IVES Wedbush AI Revolution ETF (IVES) and Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV). The values are adjusted to include any dividend payments, if applicable.

IVES vs. EVAV - Yearly Performance Comparison

	2026 (YTD)	2025
IVES Dan IVES Wedbush AI Revolution ETF	-10.25%	25.06%
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.00%	42.22%

Returns By Period

IVES

• 1D: 4.61%
• 1M: -4.73%
• YTD: -10.25%
• 6M: -11.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVAV

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

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

IVES vs. EVAV - Expense Ratio Comparison

IVES has a 0.75% expense ratio, which is lower than EVAV's 0.98% expense ratio.

EVAV

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares

IVES

Dan IVES Wedbush AI Revolution ETF

Return for Risk

IVES vs. EVAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dan IVES Wedbush AI Revolution ETF (IVES) and Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV). 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.

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

Sharpe Ratios by Period

	IVES	EVAV	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	—	—

Correlation

The correlation between IVES and EVAV is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IVES vs. EVAV - Dividend Comparison

IVES's dividend yield for the trailing twelve months is around 0.46%, less than EVAV's 0.81% yield.

	TTM	2025	2024	2023	2022
IVES Dan IVES Wedbush AI Revolution ETF	0.46%	0.41%	0.00%	0.00%	0.00%
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.81%	0.97%	2.52%	2.34%	0.51%

Drawdowns

Drawdown Indicators

	IVES	EVAV	Difference
Max Drawdown Largest peak-to-trough decline	-22.64%	—	—
Current Drawdown Current decline from peak	-19.07%	—	—
Average Drawdown Average peak-to-trough decline	-5.65%	—	—

Volatility

Volatility by Period

	IVES	EVAV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	25.09%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.09%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.09%	—	—