NAIL vs. AIRR

Last updated Aug 4, 2026

NAIL (Direxion Daily Homebuilders & Supplies Bull 3X ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both Building & Construction funds - NAIL tracks the Dow Jones U.S. Select Home Construction Index while AIRR tracks the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. Over the past 10 years, NAIL returned 3.16%/yr vs 20.17%/yr for AIRR. Their 0.59 correlation means they have sometimes moved together and sometimes differently. NAIL charges 0.96%/yr vs 0.69%/yr for AIRR.

Performance

NAIL vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Homebuilders & Supplies Bull 3X ETF (NAIL) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NAIL achieves a -18.83% return, which is significantly lower than AIRR's 22.38% return. Over the past 10 years, NAIL has underperformed AIRR with an annualized return of 3.16%, while AIRR has yielded a comparatively higher 20.17% annualized return.

NAIL

• 1D: 8.38%
• 1M: -18.48%
• 6M: -30.57%
• YTD: -18.83%
• 1Y: -35.72%
• 3Y*: -20.50%
• 5Y*: -13.41%
• 10Y*: 3.16%
• ALL TIME*: 0.49%

AIRR

• 1D: 2.73%
• 1M: -4.50%
• 6M: 6.93%
• YTD: 22.38%
• 1Y: 41.30%
• 3Y*: 31.02%
• 5Y*: 24.25%
• 10Y*: 20.17%
• ALL TIME*: 15.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIRR First Trust RBA American Industrial Renaissance ETF	$85.28M	$87.33M	$93.05M
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF	$44.86M	$43.79M	$61.55M

NAIL vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF	-18.83%	-40.43%	-22.83%	259.61%	-75.23%	168.20%	-32.08%	184.63%	-73.96%	268.71%
AIRR First Trust RBA American Industrial Renaissance ETF	22.38%	27.92%	33.45%	31.43%	-2.08%	33.01%	17.17%	33.97%	-20.57%	16.28%

Correlation

The correlation between NAIL and AIRR is 0.50, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (3Y) Balances recent behavior with more history.	0.60
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.61
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015	0.59

The correlation between NAIL and AIRR shifts across timeframes, from 0.50 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

NAIL vs. AIRR - Sectors Allocation Comparison

Sectors	NAIL	AIRR
Consumer Cyclical	71.9%	1.9%
Industrials	19.0%	77.6%
Basic Materials	8.4%	3.4%
Real Estate	0.7%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	1.7%
Financial Services	-	12.1%
Healthcare	-	-
Technology	-	3.4%
Utilities	-	-

Return for Risk

NAIL vs. AIRR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NAIL

NAIL Risk / Return Rank: 7
NAIL Sharpe Ratio Rank: 6
NAIL Sortino Ratio Rank: 8
NAIL Omega Ratio Rank: 8
NAIL Calmar Ratio Rank: 5
NAIL Martin Ratio Rank: 6

AIRR

AIRR Risk / Return Rank: 63
AIRR Sharpe Ratio Rank: 62
AIRR Sortino Ratio Rank: 59
AIRR Omega Ratio Rank: 54
AIRR Calmar Ratio Rank: 68
AIRR Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NAIL vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X ETF (NAIL) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

	NAIL	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	1.48	-1.88
Sortino ratio: Return per unit of downside risk	-0.12	2.05	-2.17
Omega ratio: Gain probability vs. loss probability	0.99	1.25	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.53	2.42	-2.94
Martin ratio: Return relative to average drawdown	-0.81	9.17	-9.98

NAIL vs. AIRR - Sharpe Ratio Comparison

The current NAIL Sharpe Ratio is -0.41, which is lower than the AIRR Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of NAIL and AIRR, 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

NAIL vs. AIRR - Drawdown Comparison

The maximum NAIL drawdown since its inception was -93.75%, which is greater than AIRR's maximum drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for NAIL and AIRR.

Drawdown Indicators

	NAIL	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-93.75%	-42.37%	-51.38%
Max Drawdown (1Y) Largest decline over 1 year	-67.85%	-17.18%	-50.67%
Max Drawdown (3Y) Largest decline over 3 years	-82.09%	-27.95%	-54.14%
Max Drawdown (5Y) Largest decline over 5 years	-84.40%	-27.95%	-56.45%
Max Drawdown (10Y) Largest decline over 10 years	-93.75%	-42.37%	-51.38%
Current Drawdown Current decline from peak	-76.81%	-9.76%	-67.05%
Average Drawdown Average peak-to-trough decline	-44.25%	-7.47%	-36.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.12%	4.51%	+39.61%

Volatility

NAIL vs. AIRR - Volatility Comparison

Direxion Daily Homebuilders & Supplies Bull 3X ETF (NAIL) has a higher volatility of 27.85% compared to First Trust RBA American Industrial Renaissance ETF (AIRR) at 10.27%. This indicates that NAIL's price experiences larger fluctuations and is considered to be riskier than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAIL	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.85%	10.27%	+17.58%
Volatility (6M) Calculated over the trailing 6-month period	65.81%	22.42%	+43.39%
Volatility (1Y) Calculated over the trailing 1-year period	88.16%	28.14%	+60.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.19%	25.74%	+62.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.87%	26.50%	+63.37%

NAIL vs. AIRR - Expense Ratio Comparison

NAIL has a 0.96% expense ratio, which is higher than AIRR's 0.69% expense ratio.

Dividends

NAIL vs. AIRR - Dividend Comparison

NAIL's dividend yield for the trailing twelve months is around 0.77%, more than AIRR's 0.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.09%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF	0.77%	1.55%	0.63%	0.22%	0.00%	0.00%	0.01%	0.17%	0.35%	1.25%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NAIL and AIRR in my portfolio?

NAIL and AIRR have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NAIL or AIRR?

NAIL has higher volatility (27.85%) compared to AIRR (10.27%). In terms of maximum drawdown, NAIL dropped -93.75% vs AIRR's -42.37%.

Which ETF is better, NAIL or AIRR?

On 10-year performance, AIRR leads with 20.17% vs 3.16% for NAIL. On fees, AIRR is cheaper at 0.69% per year. On volatility, AIRR has been the lower-risk option at 10.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NAIL or AIRR?

Over the 10-year period, AIRR has performed better with a 20.17% return vs 3.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NAIL or AIRR?

AIRR is cheaper with a 0.69% expense ratio, compared with 0.96% for NAIL.

Which ETF pays a higher dividend yield, NAIL or AIRR?

NAIL has the higher dividend yield at 0.77%, compared with 0.09% for AIRR.

What is the main difference between NAIL and AIRR?

NAIL tracks Dow Jones U.S. Select Home Construction Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index. They also come from different issuers: Direxion and First Trust. Their fees differ too: 0.96% for NAIL and 0.69% for AIRR.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (1.48 vs -0.41), 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.