NAIL vs. LQD
NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) and LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF) are both exchange-traded funds - NAIL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Home Construction Index (300%), while LQD is a Corporate Bonds fund tracking the iBoxx $ Liquid Investment Grade Index. Both are passively managed. Over the past 10 years, NAIL returned 3.80%/yr vs 2.41%/yr for LQD. At a 0.30 correlation, their price movements are largely independent. NAIL charges 0.99%/yr vs 0.15%/yr for LQD.
Performance
NAIL vs. LQD - Performance Comparison
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Returns By Period
In the year-to-date period, NAIL achieves a -23.54% return, which is significantly lower than LQD's -0.06% return. Over the past 10 years, NAIL has outperformed LQD with an annualized return of 3.80%, while LQD has yielded a comparatively lower 2.41% annualized return.
NAIL
- 1D
- -0.92%
- 1M
- -3.69%
- YTD
- -23.54%
- 6M
- -33.60%
- 1Y
- -22.27%
- 3Y*
- -13.87%
- 5Y*
- -13.16%
- 10Y*
- 3.80%
LQD
- 1D
- -0.10%
- 1M
- -0.67%
- YTD
- -0.06%
- 6M
- -0.06%
- 1Y
- 5.73%
- 3Y*
- 4.95%
- 5Y*
- -0.28%
- 10Y*
- 2.41%
NAIL vs. LQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | -23.54% | -40.43% | -22.83% | 259.61% | -75.23% | 168.20% | -32.08% | 184.63% | -73.96% | 268.71% |
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | -0.06% | 7.90% | 0.86% | 9.40% | -17.92% | -1.84% | 10.97% | 17.37% | -3.79% | 7.06% |
Correlation
The correlation between NAIL and LQD is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | 0.30 |
The correlation between NAIL and LQD shifts across timeframes, from 0.30 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NAIL vs. LQD — Risk / Return Rank
NAIL
LQD
NAIL vs. LQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) and iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD). 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 | LQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.19 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 1.72 | -2.05 |
| Martin ratioReturn relative to average drawdown | -0.58 | 4.88 | -5.46 |
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 | LQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.26 | 1.08 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.15 | -0.03 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.04 | 0.28 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | 0.54 | -0.54 |
Drawdowns
NAIL vs. LQD - Drawdown Comparison
The maximum NAIL drawdown since its inception was -93.75%, which is greater than LQD's maximum drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for NAIL and LQD.
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Drawdown Indicators
| NAIL | LQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.75% | -24.95% | -68.80% |
Max Drawdown (1Y)Largest decline over 1 year | -67.85% | -3.34% | -64.51% |
Max Drawdown (3Y)Largest decline over 3 years | -82.09% | -8.43% | -73.66% |
Max Drawdown (5Y)Largest decline over 5 years | -84.40% | -24.95% | -59.45% |
Max Drawdown (10Y)Largest decline over 10 years | -93.75% | -24.95% | -68.80% |
Current DrawdownCurrent decline from peak | -78.15% | -4.21% | -73.94% |
Average DrawdownAverage peak-to-trough decline | -43.83% | -3.99% | -39.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.74% | 1.18% | +37.56% |
Volatility
NAIL vs. LQD - Volatility Comparison
Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a higher volatility of 21.13% compared to iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) at 1.62%. This indicates that NAIL's price experiences larger fluctuations and is considered to be riskier than LQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NAIL | LQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.13% | 1.62% | +19.51% |
Volatility (6M)Calculated over the trailing 6-month period | 60.31% | 3.94% | +56.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.48% | 5.32% | +82.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 86.98% | 8.65% | +78.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.20% | 8.68% | +80.52% |
NAIL vs. LQD - Expense Ratio Comparison
NAIL has a 0.99% expense ratio, which is higher than LQD's 0.15% expense ratio.
Dividends
NAIL vs. LQD - Dividend Comparison
NAIL's dividend yield for the trailing twelve months is around 1.04%, less than LQD's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 4.59% | 4.48% | 4.45% | 3.99% | 3.30% | 2.30% | 2.66% | 3.29% | 3.67% | 3.10% | 3.34% | 3.47% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
NAIL and LQD 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.
NAIL has higher volatility (21.13%) compared to LQD (1.62%). In terms of maximum drawdown, NAIL dropped -93.75% vs LQD's -24.95%.
On 10-year performance, NAIL leads with 3.80% vs 2.41% for LQD. On fees, LQD is cheaper at 0.15% per year. On volatility, LQD has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NAIL has performed better with a 3.80% return vs 2.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQD is cheaper with a 0.15% expense ratio, compared with 0.99% for NAIL.
LQD has the higher dividend yield at 4.59%, compared with 1.04% for NAIL.
NAIL is categorized as Leveraged Equities, while LQD is Corporate Bonds. NAIL tracks Dow Jones U.S. Select Home Construction Index (300%), while LQD tracks iBoxx $ Liquid Investment Grade Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.99% for NAIL and 0.15% for LQD.
LQD currently has the higher Sharpe Ratio (1.08 vs -0.26), 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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