NAIL vs. USD

Last updated Aug 2, 2026

NAIL (Direxion Daily Homebuilders & Supplies Bull 3X ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - NAIL is a Building & Construction fund tracking the Dow Jones U.S. Select Home Construction Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, NAIL returned 2.80%/yr vs 54.19%/yr for USD. Their 0.42 correlation means their historical movements had little consistent relationship. NAIL charges 0.96%/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 ETF (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 -25.11% return, which is significantly lower than USD's 50.25% return. Over the past 10 years, NAIL has underperformed USD with an annualized return of 2.80%, while USD has yielded a comparatively higher 54.19% annualized return.

NAIL

• 1D: -3.77%
• 1M: -24.78%
• 6M: -35.02%
• YTD: -25.11%
• 1Y: -40.69%
• 3Y*: -23.69%
• 5Y*: -14.77%
• 10Y*: 2.80%
• ALL TIME*: -0.25%

USD

• 1D: 1.44%
• 1M: -10.08%
• 6M: 34.80%
• YTD: 50.25%
• 1Y: 92.29%
• 3Y*: 87.71%
• 5Y*: 55.02%
• 10Y*: 54.19%
• ALL TIME*: 28.07%

*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)
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF	$44.87M	$43.82M	$62.70M
USD ProShares Ultra Semiconductors	$68.86M	$72.62M	$95.81M

NAIL vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF	-25.11%	-40.43%	-22.83%	259.61%	-75.23%	168.20%	-32.08%	184.63%	-73.96%	268.71%
USD ProShares Ultra Semiconductors	50.25%	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 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.10
Correlation (3Y) Balances recent behavior with more history.	0.25
Correlation (5Y) Shows whether the relationship held over a longer period.	0.41
Correlation (10Y) Provides a long-term view across more market conditions.	0.42
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015	0.42

Over the past year, the correlation between NAIL and USD has dropped to 0.10 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

NAIL vs. USD - Sectors Allocation Comparison

Sectors	NAIL	USD
Consumer Cyclical	71.9%	-
Industrials	19.0%	-
Basic Materials	8.4%	-
Real Estate	0.7%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Financial Services	-	32.1%
Healthcare	-	-
Technology	-	32.6%
Utilities	-	-

Return for Risk

NAIL vs. USD — Risk / Return Rank

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

NAIL

NAIL Risk / Return Rank: 6
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

USD

USD Risk / Return Rank: 52
USD Sharpe Ratio Rank: 47
USD Sortino Ratio Rank: 49
USD Omega Ratio Rank: 49
USD Calmar Ratio Rank: 62
USD Martin Ratio Rank: 53

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. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X ETF (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.

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	USD	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	1.15	-1.56
Sortino ratio: Return per unit of downside risk	-0.12	1.73	-1.85
Omega ratio: Gain probability vs. loss probability	0.99	1.22	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.53	2.16	-2.69
Martin ratio: Return relative to average drawdown	-0.82	6.21	-7.03

NAIL vs. USD - Sharpe Ratio Comparison

The current NAIL Sharpe Ratio is -0.41, which is lower than the USD Sharpe Ratio of 1.15. 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.

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%	-39.33%	-28.52%
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	-78.60%	-30.59%	-48.01%
Average Drawdown Average peak-to-trough decline	-44.24%	-32.23%	-12.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.97%	13.62%	+30.35%

Volatility

NAIL vs. USD - Volatility Comparison

The current volatility for Direxion Daily Homebuilders & Supplies Bull 3X ETF (NAIL) is 26.41%, while ProShares Ultra Semiconductors (USD) has a volatility of 28.19%. This indicates that NAIL experiences smaller price fluctuations and is considered to be less risky 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	26.41%	28.19%	-1.78%
Volatility (6M) Calculated over the trailing 6-month period	65.39%	61.13%	+4.26%
Volatility (1Y) Calculated over the trailing 1-year period	87.99%	73.80%	+14.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.09%	78.73%	+9.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.81%	70.38%	+19.43%

NAIL vs. USD - Expense Ratio Comparison

NAIL has a 0.96% 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 0.83%, more than USD's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF	0.83%	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	0.39%	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 0.10, 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?

USD has higher volatility (28.19%) compared to NAIL (26.41%). 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 54.19% vs 2.80% for NAIL. On fees, USD is cheaper at 0.95% per year. On volatility, NAIL has been the lower-risk option at 26.41%. 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 54.19% return vs 2.80%. 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 0.96% for NAIL.

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

NAIL has the higher dividend yield at 0.83%, compared with 0.39% for USD.

What is the main difference between NAIL and USD?

NAIL is categorized as Building & Construction, while USD is Leveraged Equities. NAIL tracks Dow Jones U.S. Select Home Construction Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.96% for NAIL and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (1.15 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.