OPEG vs. PILL

Last updated Jun 5, 2026

OPEG (Leverage Shares 2X Long OPEN Daily ETF) and PILL (Direxion Daily Pharmaceutical & Medical Bull 3X Shares) are both Leveraged Equities funds. OPEG is actively managed, while PILL is passively managed. At a 0.11 correlation, their price movements are largely independent. OPEG charges 0.75%/yr vs 0.98%/yr for PILL.

Performance

OPEG vs. PILL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long OPEN Daily ETF (OPEG) and Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OPEG achieves a -48.11% return, which is significantly lower than PILL's -1.69% return.

OPEG

• 1D: 3.80%
• 1M: -15.10%
• YTD: -48.11%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PILL

• 1D: 8.24%
• 1M: -11.70%
• YTD: -1.69%
• 6M: 7.86%
• 1Y: 123.35%
• 3Y*: 16.40%
• 5Y*: -10.52%
• 10Y*: —

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

OPEG vs. PILL - Yearly Performance Comparison

	2026 (YTD)	2025
OPEG Leverage Shares 2X Long OPEN Daily ETF	-48.11%	-33.53%
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares	-1.69%	-1.67%

Correlation

The correlation between OPEG and PILL is 0.11, 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 Dec 12, 2025	0.11

Return for Risk

OPEG vs. PILL — Risk / Return Rank

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

PILL

PILL Risk / Return Rank: 61
PILL Sharpe Ratio Rank: 60
PILL Sortino Ratio Rank: 52
PILL Omega Ratio Rank: 49
PILL Calmar Ratio Rank: 75
PILL Martin Ratio Rank: 68

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.

OPEG vs. PILL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long OPEN Daily ETF (OPEG) and Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL). 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.

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

Sharpe Ratios by Period

	OPEG	PILL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.99	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.61	-0.11	-0.50

Drawdowns

OPEG vs. PILL - Drawdown Comparison

The maximum OPEG drawdown since its inception was -73.22%, smaller than the maximum PILL drawdown of -88.76%. Use the drawdown chart below to compare losses from any high point for OPEG and PILL.

Drawdown Indicators

	OPEG	PILL	Difference
Max Drawdown Largest peak-to-trough decline	-73.22%	-88.76%	+15.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-33.21%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-60.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-83.38%	—
Current Drawdown Current decline from peak	-65.51%	-66.31%	+0.80%
Average Drawdown Average peak-to-trough decline	-51.36%	-58.54%	+7.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.12%	—

Volatility

Volatility by Period

	OPEG	PILL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	22.02%	—
Volatility (6M) Calculated over the trailing 6-month period	—	48.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	148.35%	62.21%	+86.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	148.35%	60.53%	+87.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	148.35%	63.83%	+84.52%

OPEG vs. PILL - Expense Ratio Comparison

OPEG has a 0.75% expense ratio, which is lower than PILL's 0.98% expense ratio.

Dividends

OPEG vs. PILL - Dividend Comparison

OPEG has not paid dividends to shareholders, while PILL's dividend yield for the trailing twelve months is around 0.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
OPEG Leverage Shares 2X Long OPEN Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares	0.64%	0.69%	1.28%	1.83%	0.67%	0.00%	0.00%	0.38%	0.91%	0.10%

Frequently Asked Questions

Can I hold both OPEG and PILL in my portfolio?

OPEG and PILL have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OPEG or PILL?

On fees, OPEG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OPEG or PILL?

OPEG is cheaper with a 0.75% expense ratio, compared with 0.98% for PILL.

Which ETF pays a higher dividend yield, OPEG or PILL?

PILL has the higher dividend yield at 0.64%, compared with 0.00% for OPEG.

What is the main difference between OPEG and PILL?

They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for OPEG and 0.98% for PILL.