NAIL vs. USD

Last updated Jun 4, 2026

NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) and USD (ProShares Ultra Semiconductors) are both Leveraged Equities funds - NAIL tracks the Dow Jones U.S. Select Home Construction Index (300%) while USD tracks the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, NAIL returned 3.96%/yr vs 62.16%/yr for USD. At a 0.43 correlation, their price movements are largely independent. NAIL charges 0.99%/yr vs 0.95%/yr for USD.

Performance

NAIL vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) and ProShares Ultra Semiconductors (USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NAIL achieves a -23.44% return, which is significantly lower than USD's 114.00% return. Over the past 10 years, NAIL has underperformed USD with an annualized return of 3.96%, while USD has yielded a comparatively higher 62.16% annualized 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%

USD

• 1D: -1.14%
• 1M: 44.53%
• YTD: 114.00%
• 6M: 111.06%
• 1Y: 274.62%
• 3Y*: 127.67%
• 5Y*: 69.52%
• 10Y*: 62.16%

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

NAIL vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares	-23.44%	-40.43%	-22.83%	259.61%	-75.23%	168.20%	-32.08%	184.63%	-73.96%	268.71%
USD ProShares Ultra Semiconductors	114.00%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	81.72%

Correlation

The correlation between NAIL and USD is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Aug 20, 2015	0.43

Over the past year, the correlation between NAIL and USD has dropped to 0.11 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

NAIL vs. USD - Sectors Allocation Comparison

Sectors	NAIL	USD
Consumer Cyclical	71.8%	-
Industrials	19.1%	-
Basic Materials	8.6%	-
Real Estate	0.5%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Financial Services	-	27.8%
Healthcare	-	-
Technology	-	27.4%
Utilities	-	-

Return for Risk

NAIL vs. USD — Risk / Return Rank

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

NAIL

NAIL Risk / Return Rank: 7
NAIL Sharpe Ratio Rank: 6
NAIL Sortino Ratio Rank: 9
NAIL Omega Ratio Rank: 9
NAIL Calmar Ratio Rank: 6
NAIL Martin Ratio Rank: 6

USD

USD Risk / Return Rank: 90
USD Sharpe Ratio Rank: 97
USD Sortino Ratio Rank: 83
USD Omega Ratio Rank: 83
USD Calmar Ratio Rank: 95
USD Martin Ratio Rank: 93

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.

NAIL vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) and ProShares Ultra Semiconductors (USD). 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	USD	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	4.53	-4.77
Sortino ratio: Return per unit of downside risk	0.27	3.81	-3.54
Omega ratio: Gain probability vs. loss probability	1.03	1.51	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.30	8.70	-9.00
Martin ratio: Return relative to average drawdown	-0.53	25.16	-25.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NAIL vs. USD - Sharpe Ratio Comparison

The current NAIL Sharpe Ratio is -0.23, which is lower than the USD Sharpe Ratio of 4.53. The chart below compares the historical Sharpe Ratios of NAIL and USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NAIL	USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.23	4.53	-4.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	0.91	-1.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.04	0.90	-0.86
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.49	-0.49

Drawdowns

NAIL vs. USD - Drawdown Comparison

The maximum NAIL drawdown since its inception was -93.75%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for NAIL and USD.

Drawdown Indicators

	NAIL	USD	Difference
Max Drawdown Largest peak-to-trough decline	-93.75%	-88.63%	-5.12%
Max Drawdown (1Y) Largest decline over 1 year	-67.85%	-31.80%	-36.05%
Max Drawdown (3Y) Largest decline over 3 years	-82.09%	-64.46%	-17.63%
Max Drawdown (5Y) Largest decline over 5 years	-84.40%	-77.85%	-6.55%
Max Drawdown (10Y) Largest decline over 10 years	-93.75%	-77.85%	-15.90%
Current Drawdown Current decline from peak	-78.12%	-1.14%	-76.98%
Average Drawdown Average peak-to-trough decline	-43.80%	-32.35%	-11.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.18%	10.97%	+27.21%

Volatility

NAIL vs. USD - Volatility Comparison

Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a higher volatility of 24.23% compared to ProShares Ultra Semiconductors (USD) at 20.36%. This indicates that NAIL's price experiences larger fluctuations and is considered to be riskier than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAIL	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.23%	20.36%	+3.87%
Volatility (6M) Calculated over the trailing 6-month period	60.86%	46.39%	+14.47%
Volatility (1Y) Calculated over the trailing 1-year period	87.63%	61.22%	+26.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	86.99%	76.55%	+10.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.20%	69.23%	+19.97%

NAIL vs. USD - Expense Ratio Comparison

NAIL has a 0.99% expense ratio, which is higher than USD's 0.95% expense ratio.

Dividends

NAIL vs. USD - Dividend Comparison

NAIL's dividend yield for the trailing twelve months is around 1.04%, more than USD's 0.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
USD ProShares Ultra Semiconductors	0.21%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both NAIL and USD in my portfolio?

NAIL and USD have a correlation of 0.11, 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 USD?

NAIL has higher volatility (24.23%) compared to USD (20.36%). In terms of maximum drawdown, NAIL dropped -93.75% vs USD's -88.63%.

Which ETF is better, NAIL or USD?

On 10-year performance, USD leads with 62.16% vs 3.96% for NAIL. On fees, USD is cheaper at 0.95% per year. On volatility, USD has been the lower-risk option at 20.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NAIL or USD?

Over the 10-year period, USD has performed better with a 62.16% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NAIL or USD?

USD is cheaper with a 0.95% expense ratio, compared with 0.99% for NAIL.

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

NAIL has the higher dividend yield at 1.04%, compared with 0.21% for USD.

What is the main difference between NAIL and USD?

NAIL tracks Dow Jones U.S. Select Home Construction Index (300%), while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for NAIL and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (4.53 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.