NVIR vs. TEXU

Last updated Aug 2, 2026

NVIR (Horizon Kinetics Energy Remediation ETF) and TEXU (Direxion Daily Energy Top 5 Bull 2X ETF) are both exchange-traded funds - NVIR is a Energy Equities fund actively managed by Horizon, while TEXU is a Leveraged Equities fund tracking the S&P 500 Energy (Sector) Top 5 Equal Capped Index. NVIR is actively managed, while TEXU is passively managed. Their 0.70 correlation means they have sometimes moved together and sometimes differently. NVIR charges 0.85%/yr vs 0.98%/yr for TEXU.

Performance

NVIR vs. TEXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Kinetics Energy Remediation ETF (NVIR) and Direxion Daily Energy Top 5 Bull 2X ETF (TEXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVIR achieves a 19.87% return, which is significantly lower than TEXU's 61.53% return.

NVIR

• 1D: 1.02%
• 1M: 3.92%
• 6M: 8.24%
• YTD: 19.87%
• 1Y: 32.95%
• 3Y*: 14.61%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.25%

TEXU

• 1D: 3.70%
• 1M: 20.93%
• 6M: 27.67%
• YTD: 61.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
NVIR Horizon Kinetics Energy Remediation ETF	$13.32K	$14.45K	$24.85K
TEXU Direxion Daily Energy Top 5 Bull 2X ETF	$74.49K	$95.78K	$95.00K

NVIR vs. TEXU - Yearly Performance Comparison

	2026 (YTD)	2025
NVIR Horizon Kinetics Energy Remediation ETF	19.87%	2.12%
TEXU Direxion Daily Energy Top 5 Bull 2X ETF	61.53%	-1.42%

Correlation

The correlation between NVIR and TEXU is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.70

Return for Risk

NVIR vs. TEXU — Risk / Return Rank

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

NVIR

NVIR Risk / Return Rank: 76
NVIR Sharpe Ratio Rank: 77
NVIR Sortino Ratio Rank: 73
NVIR Omega Ratio Rank: 72
NVIR Calmar Ratio Rank: 86
NVIR Martin Ratio Rank: 71

TEXU

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

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.

NVIR vs. TEXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Energy Remediation ETF (NVIR) and Direxion Daily Energy Top 5 Bull 2X ETF (TEXU). 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.

	NVIR	TEXU	Difference
Sharpe ratio: Return per unit of total volatility	1.78	—	—
Sortino ratio: Return per unit of downside risk	2.36	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	3.33	—	—
Martin ratio: Return relative to average drawdown	8.79	—	—

Drawdowns

NVIR vs. TEXU - Drawdown Comparison

The maximum NVIR drawdown since its inception was -22.47%, smaller than the maximum TEXU drawdown of -31.71%. Use the drawdown chart below to compare losses from any high point for NVIR and TEXU.

Drawdown Indicators

	NVIR	TEXU	Difference
Max Drawdown Largest peak-to-trough decline	-22.47%	-31.71%	+9.24%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.47%	—	—
Current Drawdown Current decline from peak	-4.91%	-15.96%	+11.05%
Average Drawdown Average peak-to-trough decline	-4.66%	-8.67%	+4.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	—	—

Volatility

Volatility by Period

	NVIR	TEXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.05%	40.87%	-23.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.26%	40.87%	-21.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	40.87%	-21.61%

NVIR vs. TEXU - Expense Ratio Comparison

NVIR has a 0.85% expense ratio, which is lower than TEXU's 0.98% expense ratio.

Dividends

NVIR vs. TEXU - Dividend Comparison

NVIR's dividend yield for the trailing twelve months is around 0.76%, less than TEXU's 1.36% yield.

Position	TTM	2025	2024	2023
NVIR Horizon Kinetics Energy Remediation ETF	0.76%	0.92%	1.50%	1.34%
TEXU Direxion Daily Energy Top 5 Bull 2X ETF	1.36%	0.67%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVIR and TEXU in my portfolio?

NVIR and TEXU have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVIR or TEXU?

On fees, NVIR is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NVIR or TEXU?

NVIR is cheaper with a 0.85% expense ratio, compared with 0.98% for TEXU.

Which ETF pays a higher dividend yield, NVIR or TEXU?

TEXU has the higher dividend yield at 1.36%, compared with 0.76% for NVIR.

What is the main difference between NVIR and TEXU?

NVIR is categorized as Energy Equities, while TEXU is Leveraged Equities. They also come from different issuers: Horizon and Direxion. Their fees differ too: 0.85% for NVIR and 0.98% for TEXU.