NFXS vs. SKRE

Last updated Jul 14, 2026

NFXS (Direxion Daily NFLX Bear 1X Shares) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both Inverse Equities funds. NFXS is actively managed, while SKRE is passively managed. Over the past year, NFXS returned 60.27% vs -40.68% for SKRE. At a 0.08 correlation, their price movements are largely independent. NFXS charges 1.03%/yr vs 0.75%/yr for SKRE.

Performance

NFXS vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NFLX Bear 1X Shares (NFXS) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NFXS achieves a 22.10% return, which is significantly higher than SKRE's -31.48% return.

NFXS

• 1D: -0.62%
• 1M: 7.91%
• 6M: 16.25%
• YTD: 22.10%
• 1Y: 60.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SKRE

• 1D: 0.15%
• 1M: -6.10%
• 6M: -27.31%
• YTD: -31.48%
• 1Y: -40.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NFXS vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NFXS Direxion Daily NFLX Bear 1X Shares	22.10%	-8.56%	-21.49%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-31.48%	-31.29%	-25.79%

Correlation

The correlation between NFXS and SKRE is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.08

The correlation between NFXS and SKRE shifts across timeframes, from -0.02 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NFXS vs. SKRE — Risk / Return Rank

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

NFXS

NFXS Risk / Return Rank: 59
NFXS Sharpe Ratio Rank: 68
NFXS Sortino Ratio Rank: 63
NFXS Omega Ratio Rank: 72
NFXS Calmar Ratio Rank: 48
NFXS Martin Ratio Rank: 41

SKRE

SKRE Risk / Return Rank: 2
SKRE Sharpe Ratio Rank: 2
SKRE Sortino Ratio Rank: 3
SKRE Omega Ratio Rank: 3
SKRE Calmar Ratio Rank: 2
SKRE Martin Ratio Rank: 1

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. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bear 1X Shares (NFXS) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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.

	NFXS	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	1.76	-0.88	+2.64
Sortino ratio: Return per unit of downside risk	2.35	-1.25	+3.60
Omega ratio: Gain probability vs. loss probability	1.34	0.86	+0.48
Calmar ratio: Return relative to maximum drawdown	1.93	-0.83	+2.77
Martin ratio: Return relative to average drawdown	5.26	-1.44	+6.70

NFXS vs. SKRE - Sharpe Ratio Comparison

The current NFXS Sharpe Ratio is 1.76, which is higher than the SKRE Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of NFXS and SKRE, 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

NFXS vs. SKRE - Drawdown Comparison

The maximum NFXS drawdown since its inception was -50.37%, smaller than the maximum SKRE drawdown of -78.32%. Use the drawdown chart below to compare losses from any high point for NFXS and SKRE.

Drawdown Indicators

	NFXS	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-50.37%	-78.32%	+27.95%
Max Drawdown (1Y) Largest decline over 1 year	-31.31%	-49.07%	+17.76%
Current Drawdown Current decline from peak	-14.36%	-77.77%	+63.41%
Average Drawdown Average peak-to-trough decline	-31.42%	-48.39%	+16.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.49%	28.32%	-16.83%

Volatility

NFXS vs. SKRE - Volatility Comparison

Direxion Daily NFLX Bear 1X Shares (NFXS) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) have volatilities of 11.99% and 11.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFXS	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.99%	11.56%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	27.58%	32.34%	-4.76%
Volatility (1Y) Calculated over the trailing 1-year period	34.53%	46.52%	-11.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.82%	55.15%	-20.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.82%	55.15%	-20.33%

NFXS vs. SKRE - Expense Ratio Comparison

NFXS has a 1.03% expense ratio, which is higher than SKRE's 0.75% expense ratio.

Dividends

NFXS vs. SKRE - Dividend Comparison

NFXS's dividend yield for the trailing twelve months is around 2.90%, more than SKRE's 0.37% yield.

Position	TTM	2025	2024
NFXS Direxion Daily NFLX Bear 1X Shares	2.90%	3.53%	0.87%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.37%	0.26%	3.16%

Frequently Asked Questions

Can I hold both NFXS and SKRE in my portfolio?

NFXS and SKRE have a correlation of -0.02, 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 SKRE?

NFXS has higher volatility (11.99%) compared to SKRE (11.56%). In terms of maximum drawdown, NFXS dropped -50.37% vs SKRE's -78.32%.

Which ETF is better, NFXS or SKRE?

On 1-year performance, NFXS leads with 60.27% vs -40.68% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 11.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFXS or SKRE?

Over the 1-year period, NFXS has performed better with a 60.27% return vs -40.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFXS or SKRE?

SKRE is cheaper with a 0.75% expense ratio, compared with 1.03% for NFXS.

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

NFXS has the higher dividend yield at 2.90%, compared with 0.37% for SKRE.

What is the main difference between NFXS and SKRE?

They also come from different issuers: Direxion and Tuttle. Their fees differ too: 1.03% for NFXS and 0.75% for SKRE.

Which has better risk-adjusted returns?

NFXS currently has the higher Sharpe Ratio (1.76 vs -0.88), 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.