MEXX vs. OOQB
MEXX (Direxion Daily MSCI Mexico Bull 3X Shares) and OOQB (Volatility Shares One+One Nasdaq-100® and Bitcoin ETF) are both exchange-traded funds - MEXX is a Leveraged Equities fund tracking the MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while OOQB is a Nasdaq-100 fund actively managed by Volatility Shares. MEXX is passively managed, while OOQB is actively managed. Over the past year, MEXX returned 90.76% vs -27.35% for OOQB. At a 0.37 correlation, their price movements are largely independent. MEXX charges 1.21%/yr vs 0.75%/yr for OOQB.
Performance
MEXX vs. OOQB - Performance Comparison
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Returns By Period
In the year-to-date period, MEXX achieves a 25.36% return, which is significantly higher than OOQB's -18.43% return.
MEXX
- 1D
- -3.80%
- 1M
- 7.60%
- YTD
- 25.36%
- 6M
- 36.34%
- 1Y
- 90.76%
- 3Y*
- 7.01%
- 5Y*
- 15.32%
- 10Y*
- —
OOQB
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -18.43%
- 6M
- -24.99%
- 1Y
- -27.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MEXX vs. OOQB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 25.36% | 108.99% |
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | -18.43% | -13.30% |
Correlation
The correlation between MEXX and OOQB is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.37 |
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Return for Risk
MEXX vs. OOQB — Risk / Return Rank
MEXX
OOQB
MEXX vs. OOQB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) and Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB). 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 | OOQB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.52 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.94 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | -0.51 | +2.87 |
| Martin ratioReturn relative to average drawdown | 7.26 | -0.91 | +8.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MEXX | OOQB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | -0.53 | +1.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | -0.41 | +0.34 |
Drawdowns
MEXX vs. OOQB - Drawdown Comparison
The maximum MEXX drawdown since its inception was -95.58%, which is greater than OOQB's maximum drawdown of -53.44%. Use the drawdown chart below to compare losses from any high point for MEXX and OOQB.
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Drawdown Indicators
| MEXX | OOQB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.58% | -53.44% | -42.14% |
Max Drawdown (1Y)Largest decline over 1 year | -38.77% | -53.44% | +14.67% |
Max Drawdown (3Y)Largest decline over 3 years | -74.92% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -74.92% | — | — |
Current DrawdownCurrent decline from peak | -54.40% | -43.69% | -10.71% |
Average DrawdownAverage peak-to-trough decline | -65.53% | -23.26% | -42.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.55% | 30.11% | -17.56% |
Volatility
MEXX vs. OOQB - Volatility Comparison
Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) has a higher volatility of 16.78% compared to Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) at 0.00%. This indicates that MEXX's price experiences larger fluctuations and is considered to be riskier than OOQB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MEXX | OOQB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.78% | 0.00% | +16.78% |
Volatility (6M)Calculated over the trailing 6-month period | 52.51% | 39.39% | +13.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.78% | 51.57% | +11.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.88% | 58.12% | +8.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.43% | 58.12% | +16.31% |
MEXX vs. OOQB - Expense Ratio Comparison
MEXX has a 1.21% expense ratio, which is higher than OOQB's 0.75% expense ratio.
Dividends
MEXX vs. OOQB - Dividend Comparison
MEXX's dividend yield for the trailing twelve months is around 1.27%, less than OOQB's 11.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 1.27% | 1.60% | 5.81% | 1.66% | 1.33% | 0.63% | 0.12% | 1.60% | 5.61% | 0.27% |
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | 11.62% | 9.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MEXX and OOQB have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEXX has higher volatility (16.78%) compared to OOQB (0.00%). In terms of maximum drawdown, MEXX dropped -95.58% vs OOQB's -53.44%.
On 1-year performance, MEXX leads with 90.76% vs -27.35% for OOQB. On fees, OOQB is cheaper at 0.75% per year. On volatility, OOQB has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MEXX has performed better with a 90.76% return vs -27.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OOQB is cheaper with a 0.75% expense ratio, compared with 1.21% for MEXX.
OOQB has the higher dividend yield at 11.62%, compared with 1.27% for MEXX.
MEXX is categorized as Leveraged Equities, while OOQB is Nasdaq-100. They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 1.21% for MEXX and 0.75% for OOQB.
MEXX currently has the higher Sharpe Ratio (1.45 vs -0.53), 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.
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