MAGX vs. ERX

Last updated Jul 17, 2026

MAGX (Roundhill Daily 2X Long Magnificent Seven ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both Leveraged Equities funds. MAGX is actively managed, while ERX is passively managed. Over the past year, MAGX returned 31.35% vs 68.66% for ERX. At a correlation of -0.03, they often move in opposite directions. MAGX charges 0.95%/yr vs 1.09%/yr for ERX.

Performance

MAGX vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) and Direxion Daily Energy Bull 2X Shares (ERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAGX achieves a -0.42% return, which is significantly lower than ERX's 57.54% return.

MAGX

• 1D: -2.39%
• 1M: 4.25%
• 6M: 3.06%
• YTD: -0.42%
• 1Y: 31.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ERX

• 1D: 1.76%
• 1M: 6.94%
• 6M: 39.75%
• YTD: 57.54%
• 1Y: 68.66%
• 3Y*: 19.68%
• 5Y*: 34.10%
• 10Y*: -10.35%

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

MAGX vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	-0.42%	26.16%	82.41%
ERX Direxion Daily Energy Bull 2X Shares	57.54%	2.79%	-1.85%

Correlation

The correlation between MAGX and ERX is -0.25, 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 (1Y) Calculated over the trailing 1-year period	-0.25
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	-0.03

Over the past year, the inverse relationship between MAGX and ERX has strengthened: their correlation has moved from -0.03 to -0.25, meaning they now move in opposite directions more often than their long-term average.

MAGX vs. ERX - Sectors Allocation Comparison

Sectors	MAGX	ERX
Financial Services	37.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

MAGX vs. ERX — Risk / Return Rank

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

MAGX

MAGX Risk / Return Rank: 24
MAGX Sharpe Ratio Rank: 25
MAGX Sortino Ratio Rank: 26
MAGX Omega Ratio Rank: 25
MAGX Calmar Ratio Rank: 22
MAGX Martin Ratio Rank: 24

ERX

ERX Risk / Return Rank: 54
ERX Sharpe Ratio Rank: 62
ERX Sortino Ratio Rank: 53
ERX Omega Ratio Rank: 50
ERX Calmar Ratio Rank: 57
ERX Martin Ratio Rank: 45

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.

MAGX vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) 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.

	MAGX	ERX	Difference
Sharpe ratio: Return per unit of total volatility	0.74	1.64	-0.91
Sortino ratio: Return per unit of downside risk	1.22	2.12	-0.89
Omega ratio: Gain probability vs. loss probability	1.15	1.26	-0.11
Calmar ratio: Return relative to maximum drawdown	0.85	2.30	-1.46
Martin ratio: Return relative to average drawdown	2.37	5.95	-3.58

MAGX vs. ERX - Sharpe Ratio Comparison

The current MAGX Sharpe Ratio is 0.74, which is lower than the ERX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of MAGX and ERX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MAGX vs. ERX - Drawdown Comparison

The maximum MAGX drawdown since its inception was -54.19%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for MAGX and ERX.

Drawdown Indicators

	MAGX	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-54.19%	-99.54%	+45.35%
Max Drawdown (1Y) Largest decline over 1 year	-37.24%	-29.97%	-7.27%
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 Drawdown Current decline from peak	-9.23%	-92.05%	+82.82%
Average Drawdown Average peak-to-trough decline	-13.84%	-67.18%	+53.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.26%	11.57%	+1.69%

Volatility

MAGX vs. ERX - Volatility Comparison

Roundhill Daily 2X Long Magnificent Seven ETF (MAGX) has a higher volatility of 15.43% compared to Direxion Daily Energy Bull 2X Shares (ERX) at 12.31%. This indicates that MAGX's price experiences larger fluctuations and is considered to be riskier than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGX	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.43%	12.31%	+3.12%
Volatility (6M) Calculated over the trailing 6-month period	33.62%	33.63%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	42.77%	42.09%	+0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.63%	51.72%	+1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.63%	68.92%	-15.29%

MAGX vs. ERX - Expense Ratio Comparison

MAGX has a 0.95% expense ratio, which is lower than ERX's 1.09% expense ratio.

Dividends

MAGX vs. ERX - Dividend Comparison

MAGX's dividend yield for the trailing twelve months is around 2.06%, more than ERX's 1.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERX Direxion Daily Energy Bull 2X Shares	1.62%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%
MAGX Roundhill Daily 2X Long Magnificent Seven ETF	2.06%	2.05%	0.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAGX and ERX in my portfolio?

MAGX and ERX have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGX or ERX?

MAGX has higher volatility (15.43%) compared to ERX (12.31%). In terms of maximum drawdown, MAGX dropped -54.19% vs ERX's -99.54%.

Which ETF is better, MAGX or ERX?

On 1-year performance, ERX leads with 68.66% vs 31.35% for MAGX. On fees, MAGX is cheaper at 0.95% per year. On volatility, ERX has been the lower-risk option at 12.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGX or ERX?

Over the 1-year period, ERX has performed better with a 68.66% return vs 31.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGX or ERX?

MAGX is cheaper with a 0.95% expense ratio, compared with 1.09% for ERX.

Which ETF pays a higher dividend yield, MAGX or ERX?

MAGX has the higher dividend yield at 2.06%, compared with 1.62% for ERX.

What is the main difference between MAGX and ERX?

They also come from different issuers: Roundhill and Direxion. Their fees differ too: 0.95% for MAGX and 1.09% for ERX.

Which has better risk-adjusted returns?

ERX currently has the higher Sharpe Ratio (1.64 vs 0.74), 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.