LULG vs. ERX
LULG (Leverage Shares 2X Long LULU Daily ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both Leveraged Equities funds. LULG is actively managed, while ERX is passively managed. At a correlation of -0.22, they often move in opposite directions. LULG charges 0.75%/yr vs 1.09%/yr for ERX.
Performance
LULG vs. ERX - Performance Comparison
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Returns By Period
In the year-to-date period, LULG achieves a -72.19% return, which is significantly lower than ERX's 56.45% return.
LULG
- 1D
- 2.05%
- 1M
- -0.23%
- 6M
- -72.43%
- YTD
- -72.19%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ERX
- 1D
- 6.40%
- 1M
- -2.19%
- 6M
- 46.49%
- YTD
- 56.45%
- 1Y
- 56.30%
- 3Y*
- 19.32%
- 5Y*
- 31.60%
- 10Y*
- -10.38%
LULG vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
LULG Leverage Shares 2X Long LULU Daily ETF | -72.19% | 55.59% |
ERX Direxion Daily Energy Bull 2X Shares | 56.45% | 5.27% |
Correlation
The correlation between LULG and ERX is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025 | -0.22 |
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Return for Risk
LULG vs. ERX — Risk / Return Rank
LULG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ERX
LULG vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long LULU Daily ETF (LULG) and Direxion Daily Energy Bull 2X Shares (ERX). 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.
| LULG | ERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.89 | — |
| Martin ratioReturn relative to average drawdown | — | 4.95 | — |
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Drawdowns
LULG vs. ERX - Drawdown Comparison
The maximum LULG drawdown since its inception was -79.88%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for LULG and ERX.
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Drawdown Indicators
| LULG | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.88% | -99.54% | +19.66% |
Max Drawdown (1Y)Largest decline over 1 year | — | -29.97% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -42.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.90% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -98.59% | — |
Current DrawdownCurrent decline from peak | -74.24% | -92.10% | +17.86% |
Average DrawdownAverage peak-to-trough decline | -39.70% | -67.17% | +27.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.48% | — |
Volatility
LULG vs. ERX - Volatility Comparison
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Volatility by Period
| LULG | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 15.01% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 33.70% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 87.42% | 42.30% | +45.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.42% | 51.86% | +35.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.42% | 68.94% | +18.48% |
LULG vs. ERX - Expense Ratio Comparison
LULG has a 0.75% expense ratio, which is lower than ERX's 1.09% expense ratio.
Dividends
LULG vs. ERX - Dividend Comparison
LULG has not paid dividends to shareholders, while ERX's dividend yield for the trailing twelve months is around 1.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.63% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
LULG Leverage Shares 2X Long LULU Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LULG and ERX have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LULG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LULG is cheaper with a 0.75% expense ratio, compared with 1.09% for ERX.
ERX has the higher dividend yield at 1.63%, compared with 0.00% for LULG.
They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for LULG and 1.09% for ERX.
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