MSDD vs. NFXS
MSDD (GraniteShares 2x Short MSTR Daily ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both Inverse Equities funds. Both are actively managed. At a 0.18 correlation, their price movements are largely independent. MSDD charges 1.50%/yr vs 1.03%/yr for NFXS.
Performance
MSDD vs. NFXS - Performance Comparison
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Returns By Period
In the year-to-date period, MSDD achieves a -47.16% return, which is significantly lower than NFXS's 8.89% return.
MSDD
- 1D
- 13.67%
- 1M
- 85.18%
- YTD
- -47.16%
- 6M
- -24.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NFXS
- 1D
- 2.94%
- 1M
- 10.36%
- YTD
- 8.89%
- 6M
- 26.62%
- 1Y
- 40.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSDD vs. NFXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MSDD GraniteShares 2x Short MSTR Daily ETF | -47.16% | 271.43% |
NFXS Direxion Daily NFLX Bear 1X Shares | 8.89% | 27.33% |
Correlation
The correlation between MSDD and NFXS is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025 | 0.18 |
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Return for Risk
MSDD vs. NFXS — Risk / Return Rank
MSDD
NFXS
MSDD vs. NFXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Short MSTR Daily ETF (MSDD) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.
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Sharpe Ratios by Period
| MSDD | NFXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | -0.40 | +1.10 |
Drawdowns
MSDD vs. NFXS - Drawdown Comparison
The maximum MSDD drawdown since its inception was -84.91%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for MSDD and NFXS.
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Drawdown Indicators
| MSDD | NFXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.91% | -50.37% | -34.54% |
Max Drawdown (1Y)Largest decline over 1 year | — | -31.31% | — |
Current DrawdownCurrent decline from peak | -67.67% | -23.62% | -44.05% |
Average DrawdownAverage peak-to-trough decline | -29.42% | -32.41% | +2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 11.37% | — |
Volatility
MSDD vs. NFXS - Volatility Comparison
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Volatility by Period
| MSDD | NFXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.06% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 26.35% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 141.56% | 33.08% | +108.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 141.56% | 34.68% | +106.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 141.56% | 34.68% | +106.88% |
MSDD vs. NFXS - Expense Ratio Comparison
MSDD has a 1.50% expense ratio, which is higher than NFXS's 1.03% expense ratio.
Dividends
MSDD vs. NFXS - Dividend Comparison
MSDD has not paid dividends to shareholders, while NFXS's dividend yield for the trailing twelve months is around 2.87%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MSDD GraniteShares 2x Short MSTR Daily ETF | 0.00% | 0.00% | 0.00% |
NFXS Direxion Daily NFLX Bear 1X Shares | 2.87% | 3.53% | 0.87% |
Frequently Asked Questions
MSDD and NFXS have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NFXS is cheaper at 1.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NFXS is cheaper with a 1.03% expense ratio, compared with 1.50% for MSDD.
NFXS has the higher dividend yield at 2.87%, compared with 0.00% for MSDD.
They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for MSDD and 1.03% for NFXS.
Find the right allocation for MSDD and NFXS
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