MOON vs. CHAT

Last updated Jun 4, 2026

MOON (Direxion Moonshot Innovators ETF) and CHAT (Roundhill Generative AI & Technology ETF) are both Technology Equities funds. MOON is passively managed, while CHAT is actively managed. At a 0.27 correlation, their price movements are largely independent. MOON charges 0.65%/yr vs 0.75%/yr for CHAT.

Performance

MOON vs. CHAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Moonshot Innovators ETF (MOON) and Roundhill Generative AI & Technology ETF (CHAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MOON

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHAT

• 1D: -0.66%
• 1M: 27.78%
• YTD: 74.30%
• 6M: 73.13%
• 1Y: 144.01%
• 3Y*: 55.51%
• 5Y*: —
• 10Y*: —

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

MOON vs. CHAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	-8.56%	4.86%
CHAT Roundhill Generative AI & Technology ETF	74.30%	49.85%	30.98%	19.23%

Correlation

The correlation between MOON and CHAT is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since May 19, 2023	0.27

MOON vs. CHAT - Sectors Allocation Comparison

Sectors	MOON	CHAT
Technology	42.4%	76.5%
Healthcare	23.5%	-
Consumer Cyclical	11.9%	5.6%
Communication Services	9.3%	16.6%
Industrials	7.5%	0.8%
Financial Services	4.2%	0.0%
Basic Materials	1.2%	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MOON vs. CHAT — Risk / Return Rank

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

CHAT

CHAT Risk / Return Rank: 94
CHAT Sharpe Ratio Rank: 97
CHAT Sortino Ratio Rank: 94
CHAT Omega Ratio Rank: 93
CHAT Calmar Ratio Rank: 96
CHAT Martin Ratio Rank: 94

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.

MOON vs. CHAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Moonshot Innovators ETF (MOON) and Roundhill Generative AI & Technology ETF (CHAT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MOON	CHAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.98	—

Drawdowns

Drawdown Indicators

	MOON	CHAT	Difference
Max Drawdown Largest peak-to-trough decline	—	-31.34%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-16.28%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-31.34%	—
Current Drawdown Current decline from peak	—	-0.66%	—
Average Drawdown Average peak-to-trough decline	—	-5.35%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.51%	—

Volatility

Volatility by Period

	MOON	CHAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	24.62%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	30.74%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	29.90%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	29.90%	—

MOON vs. CHAT - Expense Ratio Comparison

MOON has a 0.65% expense ratio, which is lower than CHAT's 0.75% expense ratio.

Dividends

MOON vs. CHAT - Dividend Comparison

MOON has not paid dividends to shareholders, while CHAT's dividend yield for the trailing twelve months is around 1.64%.

Position	TTM	2025	2024	2023	2022	2021
CHAT Roundhill Generative AI & Technology ETF	1.64%	2.85%	0.00%	0.00%	0.00%	0.00%
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	0.62%	1.41%	0.00%	1.64%

Frequently Asked Questions

Can I hold both MOON and CHAT in my portfolio?

MOON and CHAT have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MOON or CHAT?

On fees, MOON is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MOON or CHAT?

MOON is cheaper with a 0.65% expense ratio, compared with 0.75% for CHAT.

Which ETF pays a higher dividend yield, MOON or CHAT?

CHAT has the higher dividend yield at 1.64%, compared with 0.00% for MOON.

What is the main difference between MOON and CHAT?

They also come from different issuers: Direxion and Roundhill. Their fees differ too: 0.65% for MOON and 0.75% for CHAT.