PALD vs. FIAT
PALD (Direxion Daily PANW Bear 1X Shares) and FIAT (YieldMax Short COIN Option Income Strategy ETF) are both exchange-traded funds - PALD is a Inverse Equities fund actively managed by Direxion, while FIAT is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, PALD returned -45.37% vs 50.08% for FIAT. At a 0.33 correlation, their price movements are largely independent. PALD charges 1.02%/yr vs 0.99%/yr for FIAT.
Performance
PALD vs. FIAT - Performance Comparison
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Returns By Period
In the year-to-date period, PALD achieves a -49.10% return, which is significantly lower than FIAT's 20.38% return.
PALD
- 1D
- -9.16%
- 1M
- -17.17%
- YTD
- -49.10%
- 6M
- -48.38%
- 1Y
- -45.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIAT
- 1D
- 0.30%
- 1M
- 17.45%
- YTD
- 20.38%
- 6M
- 22.75%
- 1Y
- 50.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PALD vs. FIAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PALD Direxion Daily PANW Bear 1X Shares | -49.10% | -3.89% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 20.38% | -31.64% |
Correlation
The correlation between PALD and FIAT is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.33 |
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Return for Risk
PALD vs. FIAT — Risk / Return Rank
PALD
FIAT
PALD vs. FIAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily PANW Bear 1X Shares (PALD) and YieldMax Short COIN Option Income Strategy ETF (FIAT). 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.
| PALD | FIAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.10 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.20 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 1.47 | -2.23 |
| Martin ratioReturn relative to average drawdown | -2.01 | 3.19 | -5.20 |
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Drawdowns
PALD vs. FIAT - Drawdown Comparison
The maximum PALD drawdown since its inception was -60.23%, smaller than the maximum FIAT drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for PALD and FIAT.
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Drawdown Indicators
| PALD | FIAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.23% | -70.50% | +10.27% |
Max Drawdown (1Y)Largest decline over 1 year | -60.23% | -34.22% | -26.01% |
Current DrawdownCurrent decline from peak | -60.23% | -48.12% | -12.11% |
Average DrawdownAverage peak-to-trough decline | -23.31% | -45.42% | +22.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.61% | 15.76% | +6.85% |
Volatility
PALD vs. FIAT - Volatility Comparison
Direxion Daily PANW Bear 1X Shares (PALD) has a higher volatility of 18.31% compared to YieldMax Short COIN Option Income Strategy ETF (FIAT) at 14.72%. This indicates that PALD's price experiences larger fluctuations and is considered to be riskier than FIAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PALD | FIAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.31% | 14.72% | +3.59% |
Volatility (6M)Calculated over the trailing 6-month period | 33.90% | 43.32% | -9.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.26% | 52.28% | -12.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.97% | 60.19% | -19.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.97% | 60.19% | -19.22% |
PALD vs. FIAT - Expense Ratio Comparison
PALD has a 1.02% expense ratio, which is higher than FIAT's 0.99% expense ratio.
Dividends
PALD vs. FIAT - Dividend Comparison
PALD's dividend yield for the trailing twelve months is around 5.11%, less than FIAT's 93.03% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 93.03% | 178.11% | 70.99% |
PALD Direxion Daily PANW Bear 1X Shares | 5.11% | 3.31% | 0.00% |
Frequently Asked Questions
PALD and FIAT have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PALD has higher volatility (18.31%) compared to FIAT (14.72%). In terms of maximum drawdown, PALD dropped -60.23% vs FIAT's -70.50%.
On 1-year performance, FIAT leads with 50.08% vs -45.37% for PALD. On fees, FIAT is cheaper at 0.99% per year. On volatility, FIAT has been the lower-risk option at 14.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FIAT has performed better with a 50.08% return vs -45.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIAT is cheaper with a 0.99% expense ratio, compared with 1.02% for PALD.
FIAT has the higher dividend yield at 93.03%, compared with 5.11% for PALD.
PALD is categorized as Inverse Equities, while FIAT is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 1.02% for PALD and 0.99% for FIAT.
FIAT currently has the higher Sharpe Ratio (0.96 vs -1.13), 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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