NFXS vs. AIBD

Last updated Jun 3, 2026

NFXS (Direxion Daily NFLX Bear 1X Shares) and AIBD (Direxion Daily AI and Big Data Bear 2X Shares) are both Inverse Equities funds from Direxion. NFXS is actively managed, while AIBD is passively managed. Over the past year, NFXS returned 40.25% vs -62.17% for AIBD. At a 0.31 correlation, their price movements are largely independent. NFXS charges 1.03%/yr vs 1.05%/yr for AIBD.

Performance

NFXS vs. AIBD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NFLX Bear 1X Shares (NFXS) and Direxion Daily AI and Big Data Bear 2X Shares (AIBD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFXS achieves a 8.89% return, which is significantly higher than AIBD's -41.21% return.

NFXS

• 1D: 2.94%
• 1M: 10.36%
• YTD: 8.89%
• 6M: 26.62%
• 1Y: 40.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIBD

• 1D: -0.75%
• 1M: -27.47%
• YTD: -41.21%
• 6M: -36.82%
• 1Y: -62.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NFXS vs. AIBD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFXS Direxion Daily NFLX Bear 1X Shares	8.89%	-8.56%	-21.19%
AIBD Direxion Daily AI and Big Data Bear 2X Shares	-41.21%	-49.15%	-18.44%

Correlation

The correlation between NFXS and AIBD 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 (All Time) Calculated using the full available price history since Oct 4, 2024	0.31

The correlation between NFXS and AIBD shifts across timeframes, from 0.11 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NFXS vs. AIBD — Risk / Return Rank

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

NFXS

NFXS Risk / Return Rank: 31
NFXS Sharpe Ratio Rank: 33
NFXS Sortino Ratio Rank: 33
NFXS Omega Ratio Rank: 37
NFXS Calmar Ratio Rank: 26
NFXS Martin Ratio Rank: 25

AIBD

AIBD Risk / Return Rank: 0
AIBD Sharpe Ratio Rank: 1
AIBD Sortino Ratio Rank: 0
AIBD Omega Ratio Rank: 1
AIBD Calmar Ratio Rank: 0
AIBD Martin Ratio Rank: 0

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.

NFXS vs. AIBD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bear 1X Shares (NFXS) and Direxion Daily AI and Big Data Bear 2X Shares (AIBD). 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.

	NFXS	AIBD	Difference
Sharpe ratio Return per unit of total volatility	1.22	-1.22	+2.45
Sortino ratio Return per unit of downside risk	1.80	-2.20	+4.01
Omega ratio Gain probability vs. loss probability	1.25	0.77	+0.49
Calmar ratio Return relative to maximum drawdown	1.25	-1.01	+2.27
Martin ratio Return relative to average drawdown	3.44	-1.84	+5.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NFXS vs. AIBD - Sharpe Ratio Comparison

The current NFXS Sharpe Ratio is 1.22, which is higher than the AIBD Sharpe Ratio of -1.22. The chart below compares the historical Sharpe Ratios of NFXS and AIBD, 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

	NFXS	AIBD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	-1.22	+2.45
Sharpe Ratio (All Time) Calculated using the full available price history	-0.40	-0.97	+0.57

Drawdowns

NFXS vs. AIBD - Drawdown Comparison

The maximum NFXS drawdown since its inception was -50.37%, smaller than the maximum AIBD drawdown of -82.11%. Use the drawdown chart below to compare losses from any high point for NFXS and AIBD.

Drawdown Indicators

	NFXS	AIBD	Difference
Max Drawdown Largest peak-to-trough decline	-50.37%	-82.11%	+31.74%
Max Drawdown (1Y) Largest decline over 1 year	-31.31%	-61.47%	+30.16%
Current Drawdown Current decline from peak	-23.62%	-82.11%	+58.49%
Average Drawdown Average peak-to-trough decline	-32.41%	-48.10%	+15.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.37%	34.26%	-22.89%

Volatility

NFXS vs. AIBD - Volatility Comparison

The current volatility for Direxion Daily NFLX Bear 1X Shares (NFXS) is 7.06%, while Direxion Daily AI and Big Data Bear 2X Shares (AIBD) has a volatility of 13.52%. This indicates that NFXS experiences smaller price fluctuations and is considered to be less risky than AIBD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFXS	AIBD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.06%	13.52%	-6.46%
Volatility (6M) Calculated over the trailing 6-month period	26.35%	37.14%	-10.79%
Volatility (1Y) Calculated over the trailing 1-year period	33.08%	51.00%	-17.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.68%	56.49%	-21.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.68%	56.49%	-21.81%

NFXS vs. AIBD - Expense Ratio Comparison

NFXS has a 1.03% expense ratio, which is lower than AIBD's 1.05% expense ratio.

Dividends

NFXS vs. AIBD - Dividend Comparison

NFXS's dividend yield for the trailing twelve months is around 2.87%, less than AIBD's 5.93% yield.

Position	TTM	2025	2024
AIBD Direxion Daily AI and Big Data Bear 2X Shares	5.93%	4.37%	3.58%
NFXS Direxion Daily NFLX Bear 1X Shares	2.87%	3.53%	0.87%

Frequently Asked Questions

Can I hold both NFXS and AIBD in my portfolio?

NFXS and AIBD 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, NFXS or AIBD?

AIBD has higher volatility (13.52%) compared to NFXS (7.06%). In terms of maximum drawdown, NFXS dropped -50.37% vs AIBD's -82.11%.

Which ETF is better, NFXS or AIBD?

On 1-year performance, NFXS leads with 40.25% vs -62.17% for AIBD. On fees, NFXS is cheaper at 1.03% per year. On volatility, NFXS has been the lower-risk option at 7.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFXS or AIBD?

Over the 1-year period, NFXS has performed better with a 40.25% return vs -62.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFXS or AIBD?

NFXS is cheaper with a 1.03% expense ratio, compared with 1.05% for AIBD.

Which ETF pays a higher dividend yield, NFXS or AIBD?

AIBD has the higher dividend yield at 5.93%, compared with 2.87% for NFXS.

What is the main difference between NFXS and AIBD?

Their fees differ too: 1.03% for NFXS and 1.05% for AIBD.

Which has better risk-adjusted returns?

NFXS currently has the higher Sharpe Ratio (1.22 vs -1.22), 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.