KRE vs. MIDU

Last updated Jun 4, 2026

KRE (SPDR S&P Regional Banking ETF) and MIDU (Direxion Daily Mid Cap Bull 3X Shares) are both exchange-traded funds - KRE is a Financials Equities fund tracking the S&P Regional Banks Select Industry Index, while MIDU is a Leveraged Equities fund tracking the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 10 years, KRE returned 7.80%/yr vs 11.92%/yr for MIDU. A 0.77 correlation means they provide meaningful diversification when combined. KRE charges 0.35%/yr vs 1.06%/yr for MIDU.

Performance

KRE vs. MIDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Regional Banking ETF (KRE) and Direxion Daily Mid Cap Bull 3X Shares (MIDU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KRE achieves a 5.35% return, which is significantly lower than MIDU's 37.63% return. Over the past 10 years, KRE has underperformed MIDU with an annualized return of 7.80%, while MIDU has yielded a comparatively higher 11.92% annualized return.

KRE

• 1D: -2.39%
• 1M: -1.61%
• YTD: 5.35%
• 6M: 6.27%
• 1Y: 21.36%
• 3Y*: 20.63%
• 5Y*: 1.92%
• 10Y*: 7.80%

MIDU

• 1D: -0.19%
• 1M: 10.56%
• YTD: 37.63%
• 6M: 36.96%
• 1Y: 65.54%
• 3Y*: 26.41%
• 5Y*: 2.59%
• 10Y*: 11.92%

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

KRE vs. MIDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KRE SPDR S&P Regional Banking ETF	5.35%	10.21%	18.58%	-7.61%	-15.08%	39.29%	-7.43%	27.44%	-18.81%	7.49%
MIDU Direxion Daily Mid Cap Bull 3X Shares	37.63%	-2.75%	20.32%	27.79%	-49.27%	72.89%	-18.31%	77.38%	-39.21%	46.86%

Correlation

The correlation between KRE and MIDU is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 9, 2009	0.77

The correlation between KRE and MIDU has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.

KRE vs. MIDU - Sectors Allocation Comparison

Sectors	KRE	MIDU
Financial Services	100.0%	14.4%
Basic Materials	-	4.8%
Communication Services	-	1.0%
Consumer Cyclical	-	10.7%
Consumer Defensive	-	3.8%
Energy	-	5.5%
Healthcare	-	8.6%
Industrials	-	25.0%
Real Estate	-	7.5%
Technology	-	15.7%
Utilities	-	3.1%

Return for Risk

KRE vs. MIDU — Risk / Return Rank

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

KRE

KRE Risk / Return Rank: 26
KRE Sharpe Ratio Rank: 25
KRE Sortino Ratio Rank: 25
KRE Omega Ratio Rank: 26
KRE Calmar Ratio Rank: 29
KRE Martin Ratio Rank: 26

MIDU

MIDU Risk / Return Rank: 43
MIDU Sharpe Ratio Rank: 39
MIDU Sortino Ratio Rank: 39
MIDU Omega Ratio Rank: 37
MIDU Calmar Ratio Rank: 52
MIDU Martin Ratio Rank: 50

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.

KRE vs. MIDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Regional Banking ETF (KRE) and Direxion Daily Mid Cap Bull 3X Shares (MIDU). 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.

	KRE	MIDU	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.42	-0.50
Sortino ratio: Return per unit of downside risk	1.39	2.04	-0.65
Omega ratio: Gain probability vs. loss probability	1.18	1.25	-0.07
Calmar ratio: Return relative to maximum drawdown	1.44	2.55	-1.12
Martin ratio: Return relative to average drawdown	3.72	8.47	-4.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KRE vs. MIDU - Sharpe Ratio Comparison

The current KRE Sharpe Ratio is 0.92, which is lower than the MIDU Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of KRE and MIDU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KRE	MIDU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	1.42	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.04	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.19	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.35	-0.22

Drawdowns

KRE vs. MIDU - Drawdown Comparison

The maximum KRE drawdown since its inception was -68.54%, smaller than the maximum MIDU drawdown of -86.26%. Use the drawdown chart below to compare losses from any high point for KRE and MIDU.

Drawdown Indicators

	KRE	MIDU	Difference
Max Drawdown Largest peak-to-trough decline	-68.54%	-86.26%	+17.72%
Max Drawdown (1Y) Largest decline over 1 year	-14.95%	-25.80%	+10.85%
Max Drawdown (3Y) Largest decline over 3 years	-28.20%	-60.41%	+32.21%
Max Drawdown (5Y) Largest decline over 5 years	-52.69%	-64.14%	+11.45%
Max Drawdown (10Y) Largest decline over 10 years	-54.92%	-86.26%	+31.34%
Current Drawdown Current decline from peak	-7.27%	-4.20%	-3.07%
Average Drawdown Average peak-to-trough decline	-21.90%	-22.44%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.75%	7.76%	-2.01%

Volatility

KRE vs. MIDU - Volatility Comparison

The current volatility for SPDR S&P Regional Banking ETF (KRE) is 6.14%, while Direxion Daily Mid Cap Bull 3X Shares (MIDU) has a volatility of 12.93%. This indicates that KRE experiences smaller price fluctuations and is considered to be less risky than MIDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KRE	MIDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	12.93%	-6.79%
Volatility (6M) Calculated over the trailing 6-month period	15.84%	33.72%	-17.88%
Volatility (1Y) Calculated over the trailing 1-year period	23.37%	46.41%	-23.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.98%	59.44%	-29.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.92%	63.60%	-31.68%

KRE vs. MIDU - Expense Ratio Comparison

KRE has a 0.35% expense ratio, which is lower than MIDU's 1.06% expense ratio.

Dividends

KRE vs. MIDU - Dividend Comparison

KRE's dividend yield for the trailing twelve months is around 2.32%, more than MIDU's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KRE SPDR S&P Regional Banking ETF	2.32%	2.45%	2.59%	2.99%	2.51%	1.97%	2.78%	2.21%	2.48%	1.40%	1.40%	1.80%
MIDU Direxion Daily Mid Cap Bull 3X Shares	0.65%	1.04%	1.10%	1.43%	0.11%	0.00%	0.06%	0.71%	0.70%	2.67%	1.89%	0.00%

Frequently Asked Questions

Can I hold both KRE and MIDU in my portfolio?

KRE and MIDU have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KRE or MIDU?

MIDU has higher volatility (12.93%) compared to KRE (6.14%). In terms of maximum drawdown, KRE dropped -68.54% vs MIDU's -86.26%.

Which ETF is better, KRE or MIDU?

On 10-year performance, MIDU leads with 11.92% vs 7.80% for KRE. On fees, KRE is cheaper at 0.35% per year. On volatility, KRE has been the lower-risk option at 6.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KRE or MIDU?

Over the 10-year period, MIDU has performed better with a 11.92% return vs 7.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KRE or MIDU?

KRE is cheaper with a 0.35% expense ratio, compared with 1.06% for MIDU.

Which ETF pays a higher dividend yield, KRE or MIDU?

KRE has the higher dividend yield at 2.32%, compared with 0.65% for MIDU.

What is the main difference between KRE and MIDU?

KRE is categorized as Financials Equities, while MIDU is Leveraged Equities. KRE tracks S&P Regional Banks Select Industry Index, while MIDU tracks S&P MidCap 400 Index (300%). They also come from different issuers: State Street and Direxion. Their fees differ too: 0.35% for KRE and 1.06% for MIDU.

Which has better risk-adjusted returns?

MIDU currently has the higher Sharpe Ratio (1.42 vs 0.92), 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.