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 -43.79%/yr vs -10.70%/yr for MSFD. Their 0.06 correlation means their historical movements had little consistent relationship. 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 -64.92% return, which is significantly lower than MSFD's -1.78% return.
OILD
- 1D
- -3.75%
- 1M
- -31.76%
- 6M
- -47.49%
- YTD
- -64.92%
- 1Y
- -72.17%
- 3Y*
- -43.79%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -59.42%
MSFD
- 1D
- -2.88%
- 1M
- -18.05%
- 6M
- -11.78%
- YTD
- -1.78%
- 1Y
- 7.40%
- 3Y*
- -10.70%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -15.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $21.45M | $15.41M | $22.03M | |
| $2.56M | $2.79M | $3.90M |
OILD vs. MSFD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -64.92% | -41.67% | -14.58% | -19.58% | -38.16% |
MSFD Direxion Daily MSFT Bear 1X Shares | -1.78% | -13.36% | -7.86% | -35.90% | 3.88% |
Correlation
The correlation between OILD and MSFD is -0.10, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | 0.06 |
The correlation between OILD and MSFD shifts across timeframes, from -0.10 (1 year) to 0.06 (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 | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.82 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.09 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 0.36 | -1.31 |
| Martin ratioReturn relative to average drawdown | -1.42 | 1.20 | -2.63 |
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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% | -26.54% | -47.99% |
Max Drawdown (3Y)Largest decline over 3 years | -85.42% | -40.50% | -44.92% |
Current DrawdownCurrent decline from peak | -98.86% | -55.70% | -43.16% |
Average DrawdownAverage peak-to-trough decline | -88.90% | -41.72% | -47.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.58% | 7.87% | +41.71% |
Volatility
OILD vs. MSFD - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 19.24% compared to Direxion Daily MSFT Bear 1X Shares (MSFD) at 18.10%. 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 | 19.24% | 18.10% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 50.43% | 27.83% | +22.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.51% | 32.03% | +31.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.08% | 27.55% | +51.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.08% | 27.55% | +51.53% |
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 4.02%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MSFD Direxion Daily MSFT Bear 1X Shares | 4.02% | 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 -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (19.24%) compared to MSFD (18.10%). In terms of maximum drawdown, OILD dropped -98.90% vs MSFD's -59.90%.
On 3-year performance, MSFD leads with -10.70% vs -43.79% for OILD. On fees, OILD is cheaper at 0.95% per year. On volatility, MSFD has been the lower-risk option at 18.10%. 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 -10.70% return vs -43.79%. 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 4.02%, 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 (0.30 vs -1.11), 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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