JEDI vs. DFEN

Last updated Apr 1, 2026

Compare and contrast key facts about Defiance Drone & Modern Warfare ETF (JEDI) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN).

JEDI and DFEN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFEN is a passively managed fund by Direxion that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index (300%). It was launched on May 3, 2017. Both JEDI and DFEN 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

JEDI vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Drone & Modern Warfare ETF (JEDI) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

JEDI vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025
JEDI Defiance Drone & Modern Warfare ETF	5.39%	-3.73%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	-1.16%	7.67%

Returns By Period

In the year-to-date period, JEDI achieves a 5.39% return, which is significantly higher than DFEN's -1.16% return.

JEDI

• 1D: 8.11%
• 1M: -3.25%
• YTD: 5.39%
• 6M: -2.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFEN

• 1D: 11.19%
• 1M: -30.09%
• YTD: -1.16%
• 6M: 1.22%
• 1Y: 127.12%
• 3Y*: 56.37%
• 5Y*: 30.53%
• 10Y*: —

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

JEDI vs. DFEN - Expense Ratio Comparison

JEDI has a 0.69% expense ratio, which is lower than DFEN's 0.99% expense ratio.

DFEN

Direxion Daily Aerospace & Defense Bull 3X Shares

JEDI

Defiance Drone & Modern Warfare ETF

Return for Risk

JEDI vs. DFEN — Risk / Return Rank

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

DFEN

DFEN Risk / Return Rank: 88
DFEN Sharpe Ratio Rank: 89
DFEN Sortino Ratio Rank: 87
DFEN Omega Ratio Rank: 84
DFEN Calmar Ratio Rank: 91
DFEN Martin Ratio Rank: 88

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.

JEDI vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Drone & Modern Warfare ETF (JEDI) 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.

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

Sharpe Ratios by Period

	JEDI	DFEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.83	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.21	-0.13

Correlation

The correlation between JEDI and DFEN is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JEDI vs. DFEN - Dividend Comparison

JEDI has not paid dividends to shareholders, while DFEN's dividend yield for the trailing twelve months is around 9.03%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JEDI Defiance Drone & Modern Warfare ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	9.03%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%

Drawdowns

JEDI vs. DFEN - Drawdown Comparison

The maximum JEDI drawdown since its inception was -21.67%, smaller than the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for JEDI and DFEN.

Drawdown Indicators

	JEDI	DFEN	Difference
Max Drawdown Largest peak-to-trough decline	-21.67%	-91.36%	+69.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-41.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.23%	—
Current Drawdown Current decline from peak	-15.31%	-35.23%	+19.92%
Average Drawdown Average peak-to-trough decline	-10.25%	-45.54%	+35.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.18%	—

Volatility

Volatility by Period

	JEDI	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	23.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	48.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	35.92%	69.88%	-33.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.92%	59.00%	-23.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.92%	71.31%	-35.39%