OILD vs. MSFD
OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and MSFD (Direxion Daily MSFT Bear 1X Shares) are both Inverse Equities funds - OILD tracks the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%) while MSFD tracks the Microsoft Corporation (-100%). Both are passively managed. Over the past 3 years, OILD returned -44.77%/yr vs -3.82%/yr for MSFD. At a 0.07 correlation, their price movements are largely independent. OILD charges 0.95%/yr vs 1.06%/yr for MSFD.
Performance
OILD vs. MSFD - Performance Comparison
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Returns By Period
In the year-to-date period, OILD achieves a -58.56% return, which is significantly lower than MSFD's 19.79% return.
OILD
- 1D
- -8.84%
- 1M
- 0.76%
- 6M
- -53.66%
- YTD
- -58.56%
- 1Y
- -63.34%
- 3Y*
- -44.77%
- 5Y*
- —
- 10Y*
- —
MSFD
- 1D
- -1.53%
- 1M
- -0.73%
- 6M
- 18.10%
- YTD
- 19.79%
- 1Y
- 25.82%
- 3Y*
- -3.82%
- 5Y*
- —
- 10Y*
- —
OILD vs. MSFD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -58.56% | -41.67% | -14.58% | -19.58% | -38.16% |
MSFD Direxion Daily MSFT Bear 1X Shares | 19.79% | -13.36% | -7.86% | -35.90% | 3.88% |
Correlation
The correlation between OILD and MSFD is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | 0.07 |
The correlation between OILD and MSFD shifts across timeframes, from -0.08 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OILD vs. MSFD — Risk / Return Rank
OILD
MSFD
OILD vs. MSFD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) and Direxion Daily MSFT Bear 1X Shares (MSFD). 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.
| OILD | MSFD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -3.29 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.19 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 1.12 | -1.97 |
| Martin ratioReturn relative to average drawdown | -1.36 | 3.58 | -4.94 |
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Drawdowns
OILD vs. MSFD - Drawdown Comparison
The maximum OILD drawdown since its inception was -98.90%, which is greater than MSFD's maximum drawdown of -59.90%. Use the drawdown chart below to compare losses from any high point for OILD and MSFD.
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Drawdown Indicators
| OILD | MSFD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.90% | -59.90% | -39.00% |
Max Drawdown (1Y)Largest decline over 1 year | -74.53% | -23.25% | -51.28% |
Max Drawdown (3Y)Largest decline over 3 years | -86.29% | -40.50% | -45.79% |
Current DrawdownCurrent decline from peak | -98.65% | -45.97% | -52.68% |
Average DrawdownAverage peak-to-trough decline | -88.78% | -41.64% | -47.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.68% | 7.23% | +39.45% |
Volatility
OILD vs. MSFD - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 23.04% compared to Direxion Daily MSFT Bear 1X Shares (MSFD) at 10.57%. This indicates that OILD's price experiences larger fluctuations and is considered to be riskier than MSFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OILD | MSFD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.04% | 10.57% | +12.47% |
Volatility (6M)Calculated over the trailing 6-month period | 50.04% | 23.99% | +26.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.35% | 27.34% | +36.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.31% | 26.39% | +52.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.31% | 26.39% | +52.92% |
OILD vs. MSFD - Expense Ratio Comparison
OILD has a 0.95% expense ratio, which is lower than MSFD's 1.06% expense ratio.
Dividends
OILD vs. MSFD - Dividend Comparison
OILD has not paid dividends to shareholders, while MSFD's dividend yield for the trailing twelve months is around 3.30%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MSFD Direxion Daily MSFT Bear 1X Shares | 3.30% | 3.33% | 4.46% | 4.43% | 0.74% |
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OILD and MSFD have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (23.04%) compared to MSFD (10.57%). In terms of maximum drawdown, OILD dropped -98.90% vs MSFD's -59.90%.
On 3-year performance, MSFD leads with -3.82% vs -44.77% for OILD. On fees, OILD is cheaper at 0.95% per year. On volatility, MSFD has been the lower-risk option at 10.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MSFD has performed better with a -3.82% return vs -44.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILD is cheaper with a 0.95% expense ratio, compared with 1.06% for MSFD.
MSFD has the higher dividend yield at 3.30%, compared with 0.00% for OILD.
OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while MSFD tracks Microsoft Corporation (-100%). They also come from different issuers: REX and Direxion. Their fees differ too: 0.95% for OILD and 1.06% for MSFD.
MSFD currently has the higher Sharpe Ratio (0.95 vs -1.00), 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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