NAIL vs. IFED
NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - NAIL tracks the Dow Jones U.S. Select Home Construction Index (300%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, NAIL returned -11.78%/yr vs 16.71%/yr for IFED. A 0.59 correlation means they provide meaningful diversification when combined. NAIL charges 0.99%/yr vs 0.45%/yr for IFED.
Performance
NAIL vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, NAIL achieves a -23.44% return, which is significantly lower than IFED's -3.52% return.
NAIL
- 1D
- -2.39%
- 1M
- 1.50%
- YTD
- -23.44%
- 6M
- -42.68%
- 1Y
- -20.27%
- 3Y*
- -11.78%
- 5Y*
- -14.07%
- 10Y*
- 3.96%
IFED
- 1D
- -1.24%
- 1M
- 4.85%
- YTD
- -3.52%
- 6M
- -3.51%
- 1Y
- 1.97%
- 3Y*
- 16.71%
- 5Y*
- —
- 10Y*
- —
NAIL vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | -23.44% | -40.43% | -22.83% | 259.61% | -75.23% | 61.37% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.52% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between NAIL and IFED is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021 | 0.59 |
Over the past year, the correlation between NAIL and IFED has dropped to 0.39 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.
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Return for Risk
NAIL vs. IFED — Risk / Return Rank
NAIL
IFED
NAIL vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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.
| NAIL | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.04 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 0.14 | -0.44 |
| Martin ratioReturn relative to average drawdown | -0.53 | 0.34 | -0.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NAIL | IFED | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.23 | 0.12 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | 0.65 | -0.65 |
Drawdowns
NAIL vs. IFED - Drawdown Comparison
The maximum NAIL drawdown since its inception was -93.75%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for NAIL and IFED.
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Drawdown Indicators
| NAIL | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.75% | -22.36% | -71.39% |
Max Drawdown (1Y)Largest decline over 1 year | -67.85% | -14.65% | -53.20% |
Max Drawdown (3Y)Largest decline over 3 years | -82.09% | -22.36% | -59.73% |
Max Drawdown (5Y)Largest decline over 5 years | -84.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -93.75% | — | — |
Current DrawdownCurrent decline from peak | -78.12% | -5.50% | -72.62% |
Average DrawdownAverage peak-to-trough decline | -43.80% | -5.84% | -37.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.18% | 5.75% | +32.43% |
Volatility
NAIL vs. IFED - Volatility Comparison
Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a higher volatility of 24.23% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 4.50%. This indicates that NAIL's price experiences larger fluctuations and is considered to be riskier than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NAIL | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.23% | 4.50% | +19.73% |
Volatility (6M)Calculated over the trailing 6-month period | 60.86% | 12.86% | +48.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.63% | 16.21% | +71.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 86.99% | 19.88% | +67.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.20% | 19.88% | +69.32% |
NAIL vs. IFED - Expense Ratio Comparison
NAIL has a 0.99% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
NAIL vs. IFED - Dividend Comparison
NAIL's dividend yield for the trailing twelve months is around 1.04%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | 1.04% | 1.55% | 0.63% | 0.22% | 0.00% | 0.00% | 0.01% | 0.17% | 0.35% | 1.25% |
Frequently Asked Questions
NAIL and IFED have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAIL has higher volatility (24.23%) compared to IFED (4.50%). In terms of maximum drawdown, NAIL dropped -93.75% vs IFED's -22.36%.
On 3-year performance, IFED leads with 16.71% vs -11.78% for NAIL. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IFED has performed better with a 16.71% return vs -11.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 0.99% for NAIL.
NAIL has the higher dividend yield at 1.04%, compared with 0.00% for IFED.
NAIL tracks Dow Jones U.S. Select Home Construction Index (300%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: Direxion and UBS. Their fees differ too: 0.99% for NAIL and 0.45% for IFED.
IFED currently has the higher Sharpe Ratio (0.12 vs -0.23), 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.
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