PILL vs. IFED
PILL (Direxion Daily Pharmaceutical & Medical Bull 3X Shares) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - PILL tracks the Dynamic Pharmaceuticals Intellidex Index while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, PILL returned 28.79%/yr vs 17.39%/yr for IFED. A 0.54 correlation means they provide meaningful diversification when combined. PILL charges 0.98%/yr vs 0.45%/yr for IFED.
Performance
PILL vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, PILL achieves a 33.93% return, which is significantly higher than IFED's -0.67% return.
PILL
- 1D
- -0.48%
- 1M
- 33.79%
- YTD
- 33.93%
- 6M
- 24.05%
- 1Y
- 209.10%
- 3Y*
- 28.79%
- 5Y*
- -7.05%
- 10Y*
- —
IFED
- 1D
- 4.16%
- 1M
- 5.15%
- YTD
- -0.67%
- 6M
- -1.84%
- 1Y
- 4.90%
- 3Y*
- 17.39%
- 5Y*
- —
- 10Y*
- —
PILL vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares | 33.93% | 75.14% | -7.26% | -12.06% | -43.16% | -10.03% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -0.67% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between PILL and IFED is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.54 |
Over the past year, the correlation between PILL and IFED has dropped to 0.32 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
PILL vs. IFED — Risk / Return Rank
PILL
IFED
PILL vs. IFED - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) and ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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.
| PILL | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.07 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 6.34 | 0.34 | +6.00 |
| Martin ratioReturn relative to average drawdown | 20.92 | 0.83 | +20.09 |
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Drawdowns
PILL vs. IFED - Drawdown Comparison
The maximum PILL drawdown since its inception was -88.76%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for PILL and IFED.
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Drawdown Indicators
| PILL | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.76% | -22.36% | -66.40% |
Max Drawdown (1Y)Largest decline over 1 year | -33.21% | -14.65% | -18.56% |
Max Drawdown (3Y)Largest decline over 3 years | -60.43% | -22.36% | -38.07% |
Max Drawdown (5Y)Largest decline over 5 years | -83.26% | — | — |
Current DrawdownCurrent decline from peak | -54.11% | -2.71% | -51.40% |
Average DrawdownAverage peak-to-trough decline | -58.54% | -5.83% | -52.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.04% | 5.90% | +4.14% |
Volatility
PILL vs. IFED - Volatility Comparison
Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) has a higher volatility of 18.74% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 7.96%. This indicates that PILL's price experiences larger fluctuations and is considered to be riskier than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PILL | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.74% | 7.96% | +10.78% |
Volatility (6M)Calculated over the trailing 6-month period | 48.11% | 14.49% | +33.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.66% | 17.38% | +45.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.65% | 20.00% | +40.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.79% | 20.00% | +43.79% |
PILL vs. IFED - Expense Ratio Comparison
PILL has a 0.98% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
PILL vs. IFED - Dividend Comparison
PILL's dividend yield for the trailing twelve months is around 0.41%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | 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 | 0.41% | 0.69% | 1.28% | 1.83% | 0.67% | 0.00% | 0.00% | 0.38% | 0.91% | 0.10% |
Frequently Asked Questions
PILL and IFED have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PILL has higher volatility (18.74%) compared to IFED (7.96%). In terms of maximum drawdown, PILL dropped -88.76% vs IFED's -22.36%.
On 3-year performance, PILL leads with 28.79% vs 17.39% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 7.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PILL has performed better with a 28.79% return vs 17.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 0.98% for PILL.
PILL has the higher dividend yield at 0.41%, compared with 0.00% for IFED.
PILL tracks Dynamic Pharmaceuticals Intellidex Index, while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: Direxion and UBS. Their fees differ too: 0.98% for PILL and 0.45% for IFED.
PILL currently has the higher Sharpe Ratio (3.37 vs 0.28), 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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