MOON vs. TIME

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Moonshot Innovators ETF (MOON) and Clockwise Core Equity & Innovation ETF (TIME).

MOON and TIME are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MOON is a passively managed fund by Direxion that tracks the performance of the S&P Kensho Moonshots Index. It was launched on Nov 12, 2020. TIME is an actively managed fund by Clockwise Capital. It was launched on Jan 27, 2022.

Performance

MOON vs. TIME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Moonshot Innovators ETF (MOON) and Clockwise Core Equity & Innovation ETF (TIME). The values are adjusted to include any dividend payments, if applicable.

MOON vs. TIME - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	10.48%
TIME Clockwise Core Equity & Innovation ETF	-7.92%	10.17%	6.75%

Returns By Period

MOON

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

TIME

• 1D: 2.20%
• 1M: -5.68%
• YTD: -7.92%
• 6M: -6.35%
• 1Y: 11.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MOON vs. TIME - Expense Ratio Comparison

MOON has a 0.65% expense ratio, which is lower than TIME's 1.00% expense ratio.

TIME

Clockwise Core Equity & Innovation ETF

MOON

Direxion Moonshot Innovators ETF

Return for Risk

MOON vs. TIME — Risk / Return Rank

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

TIME

TIME Risk / Return Rank: 40
TIME Sharpe Ratio Rank: 43
TIME Sortino Ratio Rank: 42
TIME Omega Ratio Rank: 39
TIME Calmar Ratio Rank: 37
TIME Martin Ratio Rank: 39

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. TIME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Moonshot Innovators ETF (MOON) and Clockwise Core Equity & Innovation ETF (TIME). 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	TIME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.26	—

Correlation

The correlation between MOON and TIME is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MOON vs. TIME - Dividend Comparison

MOON has not paid dividends to shareholders, while TIME's dividend yield for the trailing twelve months is around 10.88%.

	TTM	2025	2024	2023	2022	2021
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	0.62%	1.41%	0.00%	1.64%
TIME Clockwise Core Equity & Innovation ETF	10.88%	10.02%	15.84%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	MOON	TIME	Difference
Max Drawdown Largest peak-to-trough decline	—	-24.26%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-13.09%	—
Current Drawdown Current decline from peak	—	-11.18%	—
Average Drawdown Average peak-to-trough decline	—	-5.94%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.39%	—

Volatility

Volatility by Period

	MOON	TIME	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	15.02%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.99%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.99%	—