METD vs. MSFD

Last updated Jun 24, 2026

METD (Direxion Daily META Bear 1X ETF) and MSFD (Direxion Daily MSFT Bear 1X Shares) are both Inverse Equities funds from Direxion. METD is actively managed, while MSFD is passively managed. Over the past year, METD returned 16.44% vs 26.45% for MSFD. A 0.51 correlation means they provide meaningful diversification when combined. METD charges 1.00%/yr vs 1.06%/yr for MSFD.

Performance

METD vs. MSFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily META Bear 1X ETF (METD) and Direxion Daily MSFT Bear 1X Shares (MSFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, METD achieves a 11.74% return, which is significantly lower than MSFD's 24.19% return.

METD

• 1D: 0.27%
• 1M: 7.29%
• YTD: 11.74%
• 6M: 12.81%
• 1Y: 16.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSFD

• 1D: -3.08%
• 1M: 9.58%
• YTD: 24.19%
• 6M: 25.23%
• 1Y: 26.45%
• 3Y*: -3.55%
• 5Y*: —
• 10Y*: —

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

METD vs. MSFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
METD Direxion Daily META Bear 1X ETF	11.74%	-17.33%	-15.84%
MSFD Direxion Daily MSFT Bear 1X Shares	24.19%	-13.36%	0.35%

Correlation

The correlation between METD and MSFD is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jun 5, 2024	0.51

The correlation between METD and MSFD has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.

Return for Risk

METD vs. MSFD — Risk / Return Rank

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

METD

METD Risk / Return Rank: 17
METD Sharpe Ratio Rank: 16
METD Sortino Ratio Rank: 17
METD Omega Ratio Rank: 18
METD Calmar Ratio Rank: 17
METD Martin Ratio Rank: 16

MSFD

MSFD Risk / Return Rank: 29
MSFD Sharpe Ratio Rank: 30
MSFD Sortino Ratio Rank: 32
MSFD Omega Ratio Rank: 32
MSFD Calmar Ratio Rank: 25
MSFD Martin Ratio Rank: 28

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.

METD vs. MSFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily META Bear 1X ETF (METD) and Direxion Daily MSFT Bear 1X Shares (MSFD). 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.

	METD	MSFD	Difference
Sharpe ratio: Return per unit of total volatility	0.45	1.01	-0.56
Sortino ratio: Return per unit of downside risk	0.86	1.63	-0.77
Omega ratio: Gain probability vs. loss probability	1.12	1.20	-0.08
Calmar ratio: Return relative to maximum drawdown	0.68	1.14	-0.47
Martin ratio: Return relative to average drawdown	1.54	3.69	-2.15

METD vs. MSFD - Sharpe Ratio Comparison

The current METD Sharpe Ratio is 0.45, which is lower than the MSFD Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of METD and MSFD, 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

METD vs. MSFD - Drawdown Comparison

The maximum METD drawdown since its inception was -46.03%, smaller than the maximum MSFD drawdown of -59.90%. Use the drawdown chart below to compare losses from any high point for METD and MSFD.

Drawdown Indicators

	METD	MSFD	Difference
Max Drawdown Largest peak-to-trough decline	-46.03%	-59.90%	+13.87%
Max Drawdown (1Y) Largest decline over 1 year	-24.38%	-23.25%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-40.50%	—
Current Drawdown Current decline from peak	-28.18%	-43.99%	+15.81%
Average Drawdown Average peak-to-trough decline	-28.60%	-41.61%	+13.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.70%	7.35%	+3.35%

Volatility

METD vs. MSFD - Volatility Comparison

Direxion Daily META Bear 1X ETF (METD) has a higher volatility of 13.02% compared to Direxion Daily MSFT Bear 1X Shares (MSFD) at 11.74%. This indicates that METD's price experiences larger fluctuations and is considered to be riskier than MSFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	METD	MSFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.02%	11.74%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	28.31%	22.81%	+5.50%
Volatility (1Y) Calculated over the trailing 1-year period	36.59%	26.33%	+10.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.64%	26.27%	+10.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.64%	26.27%	+10.37%

METD vs. MSFD - Expense Ratio Comparison

METD has a 1.00% expense ratio, which is lower than MSFD's 1.06% expense ratio.

Dividends

METD vs. MSFD - Dividend Comparison

METD's dividend yield for the trailing twelve months is around 3.02%, more than MSFD's 2.52% yield.

Position	TTM	2025	2024	2023	2022
METD Direxion Daily META Bear 1X ETF	3.02%	3.35%	2.30%	0.00%	0.00%
MSFD Direxion Daily MSFT Bear 1X Shares	2.52%	3.33%	4.46%	4.43%	0.74%

Frequently Asked Questions

Can I hold both METD and MSFD in my portfolio?

METD and MSFD have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, METD or MSFD?

METD has higher volatility (13.02%) compared to MSFD (11.74%). In terms of maximum drawdown, METD dropped -46.03% vs MSFD's -59.90%.

Which ETF is better, METD or MSFD?

On 1-year performance, MSFD leads with 26.45% vs 16.44% for METD. On fees, METD is cheaper at 1.00% per year. On volatility, MSFD has been the lower-risk option at 11.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, METD or MSFD?

Over the 1-year period, MSFD has performed better with a 26.45% return vs 16.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, METD or MSFD?

METD is cheaper with a 1.00% expense ratio, compared with 1.06% for MSFD.

Which ETF pays a higher dividend yield, METD or MSFD?

METD has the higher dividend yield at 3.02%, compared with 2.52% for MSFD.

What is the main difference between METD and MSFD?

Their fees differ too: 1.00% for METD and 1.06% for MSFD.

Which has better risk-adjusted returns?

MSFD currently has the higher Sharpe Ratio (1.01 vs 0.45), 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.