JEDI vs. DFEN

Last updated Jun 24, 2026

JEDI (Defiance Drone & Modern Warfare ETF) and DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) are both exchange-traded funds - JEDI is a Aerospace & Defense fund tracking the BITA Drone & Modern Warfare Select Index, while DFEN is a Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300% Daily). Both are passively managed. A 0.64 correlation means they provide meaningful diversification when combined. JEDI charges 0.69%/yr vs 0.96%/yr for DFEN.

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.

Returns By Period

The year-to-date returns for both stocks are quite close, with JEDI having a 16.35% return and DFEN slightly lower at 15.64%.

JEDI

• 1D: -3.02%
• 1M: -16.28%
• YTD: 16.35%
• 6M: 12.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFEN

• 1D: 0.49%
• 1M: 11.93%
• YTD: 15.64%
• 6M: 7.44%
• 1Y: 71.10%
• 3Y*: 68.88%
• 5Y*: 30.03%
• 10Y*: —

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

JEDI vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025
JEDI Defiance Drone & Modern Warfare ETF	16.35%	-3.42%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	15.64%	11.82%

Correlation

The correlation between JEDI and DFEN is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025	0.64

Return for Risk

JEDI vs. DFEN — Risk / Return Rank

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

JEDI

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

DFEN

DFEN Risk / Return Rank: 32
DFEN Sharpe Ratio Rank: 31
DFEN Sortino Ratio Rank: 35
DFEN Omega Ratio Rank: 31
DFEN Calmar Ratio Rank: 36
DFEN Martin Ratio Rank: 29

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.

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.

	JEDI	DFEN	Difference
Sharpe ratio: Return per unit of total volatility	—	1.08	—
Sortino ratio: Return per unit of downside risk	—	1.76	—
Omega ratio: Gain probability vs. loss probability	—	1.20	—
Calmar ratio: Return relative to maximum drawdown	—	1.71	—
Martin ratio: Return relative to average drawdown	—	3.90	—

Drawdowns

JEDI vs. DFEN - Drawdown Comparison

The maximum JEDI drawdown since its inception was -33.43%, 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	-33.43%	-91.36%	+57.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-41.75%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-43.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-55.30%	—
Current Drawdown Current decline from peak	-33.43%	-24.22%	-9.21%
Average Drawdown Average peak-to-trough decline	-10.15%	-45.13%	+34.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	18.29%	—

Volatility

Volatility by Period

	JEDI	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	25.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	55.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	51.52%	66.30%	-14.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.52%	60.78%	-9.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.52%	71.63%	-20.11%

JEDI vs. DFEN - Expense Ratio Comparison

JEDI has a 0.69% expense ratio, which is lower than DFEN's 0.96% expense ratio.

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 7.72%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	7.72%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%
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%

Frequently Asked Questions

Can I hold both JEDI and DFEN in my portfolio?

JEDI and DFEN have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEDI or DFEN?

On fees, JEDI is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JEDI or DFEN?

JEDI is cheaper with a 0.69% expense ratio, compared with 0.96% for DFEN.

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

DFEN has the higher dividend yield at 7.72%, compared with 0.00% for JEDI.

What is the main difference between JEDI and DFEN?

JEDI is categorized as Aerospace & Defense, while DFEN is Leveraged Equities. JEDI tracks BITA Drone & Modern Warfare Select Index, while DFEN tracks Dow Jones U.S. Select Aerospace & Defense Index (300% Daily). Their fees differ too: 0.69% for JEDI and 0.96% for DFEN.