NFXS vs. ZIVB

Last updated Jun 24, 2026

NFXS (Direxion Daily NFLX Bear 1X Shares) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both Inverse Equities funds. Both are actively managed. At a 0.23 correlation, their price movements are largely independent. NFXS charges 1.03%/yr vs 1.35%/yr for ZIVB.

Performance

NFXS vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily NFLX Bear 1X Shares (NFXS) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NFXS

• 1D: 0.09%
• 1M: 21.28%
• YTD: 24.21%
• 6M: 24.00%
• 1Y: 64.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NFXS vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
NFXS Direxion Daily NFLX Bear 1X Shares	19.40%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	33.28%

Correlation

The correlation between NFXS and ZIVB is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.23

Return for Risk

NFXS vs. ZIVB — Risk / Return Rank

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

NFXS

NFXS Risk / Return Rank: 55
NFXS Sharpe Ratio Rank: 65
NFXS Sortino Ratio Rank: 60
NFXS Omega Ratio Rank: 68
NFXS Calmar Ratio Rank: 45
NFXS Martin Ratio Rank: 39

ZIVB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NFLX Bear 1X Shares (NFXS) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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	ZIVB	Difference
Sharpe ratio: Return per unit of total volatility	1.91	—	—
Sortino ratio: Return per unit of downside risk	2.55	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	2.06	—	—
Martin ratio: Return relative to average drawdown	5.64	—	—

Drawdowns

NFXS vs. ZIVB - Drawdown Comparison

The maximum NFXS drawdown since its inception was -50.37%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for NFXS and ZIVB.

Drawdown Indicators

	NFXS	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-50.37%	0.00%	-50.37%
Max Drawdown (1Y) Largest decline over 1 year	-31.31%	—	—
Current Drawdown Current decline from peak	-12.88%	0.00%	-12.88%
Average Drawdown Average peak-to-trough decline	-31.93%	0.00%	-31.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.45%	—	—

Volatility

Volatility by Period

	NFXS	ZIVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	26.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	33.81%	112.57%	-78.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.65%	112.57%	-77.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.65%	112.57%	-77.92%

NFXS vs. ZIVB - Expense Ratio Comparison

NFXS has a 1.03% expense ratio, which is lower than ZIVB's 1.35% expense ratio.

Dividends

NFXS vs. ZIVB - Dividend Comparison

NFXS's dividend yield for the trailing twelve months is around 3.23%, more than ZIVB's 2.37% yield.

Position	TTM	2025	2024
NFXS Direxion Daily NFLX Bear 1X Shares	3.23%	3.53%	0.87%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	2.37%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NFXS and ZIVB in my portfolio?

NFXS and ZIVB have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NFXS or ZIVB?

On fees, NFXS is cheaper at 1.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NFXS or ZIVB?

NFXS is cheaper with a 1.03% expense ratio, compared with 1.35% for ZIVB.

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

NFXS has the higher dividend yield at 3.23%, compared with 2.37% for ZIVB.

What is the main difference between NFXS and ZIVB?

They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 1.03% for NFXS and 1.35% for ZIVB.