METW vs. ERX

Last updated Jul 17, 2026

METW (Roundhill Meta Weeklypay ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - METW is a Technology Equities fund tracking the Ball Metaverse Index, while ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%). Both are passively managed. Over the past year, METW returned -11.12% vs 68.66% for ERX. At a correlation of -0.22, they often move in opposite directions. METW charges 0.59%/yr vs 1.09%/yr for ERX.

Performance

METW vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Meta Weeklypay ETF (METW) 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, METW achieves a -2.29% return, which is significantly lower than ERX's 57.54% return.

METW

• 1D: -3.04%
• 1M: 12.30%
• 6M: 5.60%
• YTD: -2.29%
• 1Y: -11.12%
• 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)

METW vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025
METW Roundhill Meta Weeklypay ETF	-2.29%	-9.14%
ERX Direxion Daily Energy Bull 2X Shares	57.54%	1.70%

Correlation

The correlation between METW 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 (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	-0.22

METW vs. ERX - Sectors Allocation Comparison

Sectors	METW	ERX
Communication Services	23.8%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

METW vs. ERX — Risk / Return Rank

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

METW

METW Risk / Return Rank: 7
METW Sharpe Ratio Rank: 7
METW Sortino Ratio Rank: 8
METW Omega Ratio Rank: 8
METW Calmar Ratio Rank: 7
METW Martin Ratio Rank: 7

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.

METW vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Meta Weeklypay ETF (METW) 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.

	METW	ERX	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	1.64	-1.88
Sortino ratio: Return per unit of downside risk	-0.04	2.12	-2.16
Omega ratio: Gain probability vs. loss probability	0.99	1.26	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.28	2.30	-2.58
Martin ratio: Return relative to average drawdown	-0.50	5.95	-6.45

METW vs. ERX - Sharpe Ratio Comparison

The current METW Sharpe Ratio is -0.24, which is lower than the ERX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of METW 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

METW vs. ERX - Drawdown Comparison

The maximum METW drawdown since its inception was -40.52%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for METW and ERX.

Drawdown Indicators

	METW	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-40.52%	-99.54%	+59.02%
Max Drawdown (1Y) Largest decline over 1 year	-40.52%	-29.97%	-10.55%
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	-22.47%	-92.05%	+69.58%
Average Drawdown Average peak-to-trough decline	-18.77%	-67.18%	+48.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.42%	11.57%	+10.85%

Volatility

METW vs. ERX - Volatility Comparison

Roundhill Meta Weeklypay ETF (METW) has a higher volatility of 18.87% compared to Direxion Daily Energy Bull 2X Shares (ERX) at 12.31%. This indicates that METW'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

	METW	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.87%	12.31%	+6.56%
Volatility (6M) Calculated over the trailing 6-month period	37.21%	33.63%	+3.58%
Volatility (1Y) Calculated over the trailing 1-year period	46.05%	42.09%	+3.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.04%	51.72%	-6.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.04%	68.92%	-23.88%

METW vs. ERX - Expense Ratio Comparison

METW has a 0.59% expense ratio, which is lower than ERX's 1.09% expense ratio.

Dividends

METW vs. ERX - Dividend Comparison

METW's dividend yield for the trailing twelve months is around 53.86%, 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%
METW Roundhill Meta Weeklypay ETF	53.86%	30.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both METW and ERX in my portfolio?

METW 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.

Which is riskier, METW or ERX?

METW has higher volatility (18.87%) compared to ERX (12.31%). In terms of maximum drawdown, METW dropped -40.52% vs ERX's -99.54%.

Which ETF is better, METW or ERX?

On 1-year performance, ERX leads with 68.66% vs -11.12% for METW. On fees, METW is cheaper at 0.59% 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, METW or ERX?

Over the 1-year period, ERX has performed better with a 68.66% return vs -11.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, METW or ERX?

METW is cheaper with a 0.59% expense ratio, compared with 1.09% for ERX.

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

METW has the higher dividend yield at 53.86%, compared with 1.62% for ERX.

What is the main difference between METW and ERX?

METW is categorized as Technology Equities, while ERX is Leveraged Equities. METW tracks Ball Metaverse Index, while ERX tracks Energy Select Sector Index (300%). They also come from different issuers: Roundhill and Direxion. Their fees differ too: 0.59% for METW and 1.09% for ERX.

Which has better risk-adjusted returns?

ERX currently has the higher Sharpe Ratio (1.64 vs -0.24), 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.