MEXX vs. FZROX

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) and Fidelity ZERO Total Market Index Fund (FZROX).

MEXX is a passively managed fund by Direxion that tracks the performance of the MSCI Mexico IMI 25-50 Net Total Return USD Index (300%). It was launched on May 3, 2017. FZROX is managed by Fidelity.

Performance

MEXX vs. FZROX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) and Fidelity ZERO Total Market Index Fund (FZROX). The values are adjusted to include any dividend payments, if applicable.

MEXX vs. FZROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	21.48%	181.49%	-73.13%	115.60%	-12.96%	52.75%	-53.63%	21.41%	-46.75%
FZROX Fidelity ZERO Total Market Index Fund	-3.98%	17.23%	23.94%	26.20%	-19.21%	26.00%	20.51%	31.15%	-12.72%

Returns By Period

In the year-to-date period, MEXX achieves a 21.48% return, which is significantly higher than FZROX's -3.98% return.

MEXX

• 1D: 4.52%
• 1M: -15.82%
• YTD: 21.48%
• 6M: 37.58%
• 1Y: 165.08%
• 3Y*: 6.59%
• 5Y*: 20.07%
• 10Y*: —

FZROX

• 1D: 2.99%
• 1M: -5.06%
• YTD: -3.98%
• 6M: -1.97%
• 1Y: 17.77%
• 3Y*: 17.96%
• 5Y*: 10.74%
• 10Y*: —

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

MEXX vs. FZROX - Expense Ratio Comparison

MEXX has a 1.21% expense ratio, which is higher than FZROX's 0.00% expense ratio.

MEXX

Direxion Daily MSCI Mexico Bull 3X Shares

FZROX

Fidelity ZERO Total Market Index Fund

Return for Risk

MEXX vs. FZROX — Risk / Return Rank

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

MEXX

MEXX Risk / Return Rank: 92
MEXX Sharpe Ratio Rank: 93
MEXX Sortino Ratio Rank: 89
MEXX Omega Ratio Rank: 86
MEXX Calmar Ratio Rank: 96
MEXX Martin Ratio Rank: 95

FZROX

FZROX Risk / Return Rank: 60
FZROX Sharpe Ratio Rank: 48
FZROX Sortino Ratio Rank: 54
FZROX Omega Ratio Rank: 56
FZROX Calmar Ratio Rank: 64
FZROX Martin Ratio Rank: 76

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.

MEXX vs. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) and Fidelity ZERO Total Market Index Fund (FZROX). 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.

	MEXX	FZROX	Difference
Sharpe ratio Return per unit of total volatility	2.27	0.98	+1.29
Sortino ratio Return per unit of downside risk	2.56	1.50	+1.05
Omega ratio Gain probability vs. loss probability	1.36	1.23	+0.13
Calmar ratio Return relative to maximum drawdown	4.69	1.51	+3.18
Martin ratio Return relative to average drawdown	16.31	7.28	+9.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEXX vs. FZROX - Sharpe Ratio Comparison

The current MEXX Sharpe Ratio is 2.27, which is higher than the FZROX Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of MEXX and FZROX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MEXX	FZROX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	0.98	+1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.62	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	0.63	-0.70

Correlation

The correlation between MEXX and FZROX is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MEXX vs. FZROX - Dividend Comparison

MEXX's dividend yield for the trailing twelve months is around 1.31%, more than FZROX's 1.07% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEXX Direxion Daily MSCI Mexico Bull 3X Shares	1.31%	1.60%	5.81%	1.66%	1.33%	0.63%	0.12%	1.60%	5.61%	0.27%
FZROX Fidelity ZERO Total Market Index Fund	1.07%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%	0.00%	0.00%

Drawdowns

MEXX vs. FZROX - Drawdown Comparison

The maximum MEXX drawdown since its inception was -95.58%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for MEXX and FZROX.

Drawdown Indicators

	MEXX	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	-95.58%	-34.96%	-60.62%
Max Drawdown (1Y) Largest decline over 1 year	-38.77%	-12.44%	-26.33%
Max Drawdown (5Y) Largest decline over 5 years	-74.92%	-25.12%	-49.80%
Current Drawdown Current decline from peak	-55.81%	-6.16%	-49.65%
Average Drawdown Average peak-to-trough decline	-65.77%	-5.61%	-60.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.16%	2.58%	+8.58%

Volatility

MEXX vs. FZROX - Volatility Comparison

Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) has a higher volatility of 30.56% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 5.52%. This indicates that MEXX's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEXX	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.56%	5.52%	+25.04%
Volatility (6M) Calculated over the trailing 6-month period	52.34%	9.81%	+42.53%
Volatility (1Y) Calculated over the trailing 1-year period	73.51%	18.68%	+54.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.72%	17.45%	+49.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.70%	20.28%	+54.42%