NUSB vs. ERX
NUSB (Nuveen Ultra Short Income ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - NUSB is a Ultrashort Bond fund actively managed by Nuveen, while ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%). NUSB is actively managed, while ERX is passively managed. Over the past year, NUSB returned 4.32% vs 90.37% for ERX. At a correlation of -0.05, they often move in opposite directions. NUSB charges 0.17%/yr vs 1.09%/yr for ERX.
Performance
NUSB vs. ERX - Performance Comparison
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Returns By Period
In the year-to-date period, NUSB achieves a 1.52% return, which is significantly lower than ERX's 66.93% return.
NUSB
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.52%
- 6M
- 1.88%
- 1Y
- 4.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ERX
- 1D
- 2.68%
- 1M
- -3.38%
- YTD
- 66.93%
- 6M
- 59.74%
- 1Y
- 90.37%
- 3Y*
- 23.69%
- 5Y*
- 28.75%
- 10Y*
- -8.79%
NUSB vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NUSB Nuveen Ultra Short Income ETF | 1.52% | 4.71% | 4.50% |
ERX Direxion Daily Energy Bull 2X Shares | 66.93% | 2.79% | -4.84% |
Correlation
The correlation between NUSB and ERX is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | -0.05 |
The correlation between NUSB and ERX shifts across timeframes, from -0.16 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NUSB vs. ERX — Risk / Return Rank
NUSB
ERX
NUSB vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Ultra Short Income ETF (NUSB) and Direxion Daily Energy Bull 2X Shares (ERX). 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.
| NUSB | ERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.58 | ||
| Sortino ratioReturn per unit of downside risk | +29.93 | ||
| Omega ratioGain probability vs. loss probability | 9.19 | 1.32 | +7.86 |
| Calmar ratioReturn relative to maximum drawdown | 72.98 | 3.89 | +69.09 |
| Martin ratioReturn relative to average drawdown | 397.82 | 10.60 | +387.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NUSB | ERX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 11.80 | 2.21 | +9.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.56 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.13 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 12.54 | -0.09 | +12.63 |
Drawdowns
NUSB vs. ERX - Drawdown Comparison
The maximum NUSB drawdown since its inception was -0.16%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for NUSB and ERX.
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Drawdown Indicators
| NUSB | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.16% | -99.54% | +99.38% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | -23.34% | +23.28% |
Max Drawdown (3Y)Largest decline over 3 years | — | -42.34% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.90% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -98.59% | — |
Current DrawdownCurrent decline from peak | 0.00% | -91.57% | +91.57% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -67.02% | +67.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 8.57% | -8.56% |
Volatility
NUSB vs. ERX - Volatility Comparison
The current volatility for Nuveen Ultra Short Income ETF (NUSB) is 0.09%, while Direxion Daily Energy Bull 2X Shares (ERX) has a volatility of 16.49%. This indicates that NUSB experiences smaller price fluctuations and is considered to be less risky than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUSB | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 16.49% | -16.40% |
Volatility (6M)Calculated over the trailing 6-month period | 0.23% | 33.45% | -33.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.37% | 41.14% | -40.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.39% | 51.98% | -51.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.39% | 69.18% | -68.79% |
NUSB vs. ERX - Expense Ratio Comparison
NUSB has a 0.17% expense ratio, which is lower than ERX's 1.09% expense ratio.
Dividends
NUSB vs. ERX - Dividend Comparison
NUSB's dividend yield for the trailing twelve months is around 4.30%, more than ERX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.61% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
NUSB Nuveen Ultra Short Income ETF | 4.30% | 4.51% | 3.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NUSB and ERX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERX has higher volatility (16.49%) compared to NUSB (0.09%). In terms of maximum drawdown, NUSB dropped -0.16% vs ERX's -99.54%.
On 1-year performance, ERX leads with 90.37% vs 4.32% for NUSB. On fees, NUSB is cheaper at 0.17% per year. On volatility, NUSB has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ERX has performed better with a 90.37% return vs 4.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NUSB is cheaper with a 0.17% expense ratio, compared with 1.09% for ERX.
NUSB has the higher dividend yield at 4.30%, compared with 1.61% for ERX.
NUSB is categorized as Ultrashort Bond, while ERX is Leveraged Equities. They also come from different issuers: Nuveen and Direxion. Their fees differ too: 0.17% for NUSB and 1.09% for ERX.
NUSB currently has the higher Sharpe Ratio (11.80 vs 2.21), 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.
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