MPLX vs. DFEN

Last updated Jun 20, 2026

MPLX (MPLX LP) is a stock, while DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) is Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300% Daily). Over the past 5 years, MPLX returned 24.50%/yr vs 33.49%/yr for DFEN. At a 0.34 correlation, their price movements are largely independent.

Performance

MPLX vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MPLX LP (MPLX) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MPLX achieves a 10.71% return, which is significantly lower than DFEN's 20.97% return.

MPLX

• 1D: 1.66%
• 1M: 0.66%
• YTD: 10.71%
• 6M: 10.03%
• 1Y: 19.67%
• 3Y*: 28.75%
• 5Y*: 24.50%
• 10Y*: 15.31%

DFEN

• 1D: -4.32%
• 1M: 17.09%
• YTD: 20.97%
• 6M: 21.25%
• 1Y: 87.39%
• 3Y*: 67.96%
• 5Y*: 33.49%
• 10Y*: —

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

MPLX vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MPLX MPLX LP	10.71%	20.54%	41.72%	22.46%	21.09%	53.92%	-1.79%	-8.25%	-8.43%	4.72%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	20.97%	156.62%	27.07%	24.70%	6.99%	12.72%	-70.23%	95.09%	-32.86%	83.64%

Correlation

The correlation between MPLX and DFEN is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since May 3, 2017	0.34

Over the past year, the correlation between MPLX and DFEN has dropped to 0.05 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

Return for Risk

MPLX vs. DFEN — Risk / Return Rank

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

MPLX

MPLX Risk / Return Rank: 76
MPLX Sharpe Ratio Rank: 78
MPLX Sortino Ratio Rank: 72
MPLX Omega Ratio Rank: 70
MPLX Calmar Ratio Rank: 80
MPLX Martin Ratio Rank: 79

DFEN

DFEN Risk / Return Rank: 40
DFEN Sharpe Ratio Rank: 41
DFEN Sortino Ratio Rank: 42
DFEN Omega Ratio Rank: 37
DFEN Calmar Ratio Rank: 46
DFEN Martin Ratio Rank: 36

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.

MPLX vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MPLX LP (MPLX) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.

	MPLX	DFEN	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.40	-0.15
Sortino ratio: Return per unit of downside risk	1.77	2.04	-0.28
Omega ratio: Gain probability vs. loss probability	1.21	1.24	-0.03
Calmar ratio: Return relative to maximum drawdown	2.55	2.21	+0.34
Martin ratio: Return relative to average drawdown	5.92	5.08	+0.84

MPLX vs. DFEN - Sharpe Ratio Comparison

The current MPLX Sharpe Ratio is 1.25, which is comparable to the DFEN Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of MPLX and DFEN, 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

MPLX vs. DFEN - Drawdown Comparison

The maximum MPLX drawdown since its inception was -85.72%, smaller than the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for MPLX and DFEN.

Drawdown Indicators

	MPLX	DFEN	Difference
Max Drawdown Largest peak-to-trough decline	-85.72%	-91.36%	+5.64%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-41.75%	+34.04%
Max Drawdown (3Y) Largest decline over 3 years	-14.58%	-43.13%	+28.55%
Max Drawdown (5Y) Largest decline over 5 years	-18.46%	-55.30%	+36.84%
Max Drawdown (10Y) Largest decline over 10 years	-75.21%	—	—
Current Drawdown Current decline from peak	-2.06%	-20.73%	+18.67%
Average Drawdown Average peak-to-trough decline	-29.91%	-45.15%	+15.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	18.16%	-14.84%

Volatility

MPLX vs. DFEN - Volatility Comparison

The current volatility for MPLX LP (MPLX) is 4.72%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 25.14%. This indicates that MPLX experiences smaller price fluctuations and is considered to be less risky than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MPLX	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	25.14%	-20.42%
Volatility (6M) Calculated over the trailing 6-month period	11.52%	56.03%	-44.51%
Volatility (1Y) Calculated over the trailing 1-year period	15.77%	66.17%	-50.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.37%	60.80%	-41.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.63%	71.64%	-41.01%

Dividends

MPLX vs. DFEN - Dividend Comparison

MPLX's dividend yield for the trailing twelve months is around 7.36%, which matches DFEN's 7.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	7.38%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%	0.00%	0.00%
MPLX MPLX LP	7.36%	7.39%	7.33%	8.65%	8.80%	11.30%	12.70%	10.41%	8.22%	6.23%	5.86%	4.33%

Frequently Asked Questions

Can I hold both MPLX and DFEN in my portfolio?

MPLX and DFEN have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MPLX or DFEN?

DFEN has higher volatility (25.14%) compared to MPLX (4.72%). In terms of maximum drawdown, MPLX dropped -85.72% vs DFEN's -91.36%.

Which has better risk-adjusted returns?

DFEN currently has the higher Sharpe Ratio (1.40 vs 1.25), 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.