PLTD vs. BERZ

Last updated Jun 4, 2026

PLTD (Direxion Daily PLTR Bear 1X Shares) and BERZ (MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN) are both Inverse Equities funds - PLTD tracks the Palantir Technologies Inc. (-100%) while BERZ tracks the Solactive FANG Innovation Index. Both are passively managed. Over the past year, PLTD returned -22.19% vs -86.22% for BERZ. A 0.63 correlation means they provide meaningful diversification when combined. PLTD charges 0.98%/yr vs 0.95%/yr for BERZ.

Performance

PLTD vs. BERZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily PLTR Bear 1X Shares (PLTD) and MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLTD achieves a 13.23% return, which is significantly higher than BERZ's -65.19% return.

PLTD

• 1D: 6.63%
• 1M: -0.00%
• YTD: 13.23%
• 6M: 11.78%
• 1Y: -22.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BERZ

• 1D: 3.73%
• 1M: -37.37%
• YTD: -65.19%
• 6M: -64.50%
• 1Y: -86.22%
• 3Y*: -77.59%
• 5Y*: —
• 10Y*: —

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

PLTD vs. BERZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PLTD Direxion Daily PLTR Bear 1X Shares	13.23%	-70.53%	-5.12%
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN	-65.19%	-78.81%	12.25%

Correlation

The correlation between PLTD and BERZ is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	0.63

The correlation between PLTD and BERZ has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.

Return for Risk

PLTD vs. BERZ — Risk / Return Rank

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

PLTD

PLTD Risk / Return Rank: 5
PLTD Sharpe Ratio Rank: 5
PLTD Sortino Ratio Rank: 6
PLTD Omega Ratio Rank: 6
PLTD Calmar Ratio Rank: 5
PLTD Martin Ratio Rank: 6

BERZ

BERZ Risk / Return Rank: 0
BERZ Sharpe Ratio Rank: 1
BERZ Sortino Ratio Rank: 0
BERZ Omega Ratio Rank: 0
BERZ Calmar Ratio Rank: 0
BERZ Martin Ratio Rank: 1

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.

PLTD vs. BERZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily PLTR Bear 1X Shares (PLTD) and MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ). 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.

	PLTD	BERZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	-1.14	+0.71
Sortino ratio: Return per unit of downside risk	-0.34	-2.96	+2.62
Omega ratio: Gain probability vs. loss probability	0.96	0.69	+0.27
Calmar ratio: Return relative to maximum drawdown	-0.50	-0.99	+0.49
Martin ratio: Return relative to average drawdown	-0.74	-1.54	+0.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLTD vs. BERZ - Sharpe Ratio Comparison

The current PLTD Sharpe Ratio is -0.43, which is higher than the BERZ Sharpe Ratio of -1.14. The chart below compares the historical Sharpe Ratios of PLTD and BERZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PLTD	BERZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.43	-1.14	+0.71
Sharpe Ratio (All Time) Calculated using the full available price history	-0.86	-0.75	-0.11

Drawdowns

PLTD vs. BERZ - Drawdown Comparison

The maximum PLTD drawdown since its inception was -77.34%, smaller than the maximum BERZ drawdown of -99.80%. Use the drawdown chart below to compare losses from any high point for PLTD and BERZ.

Drawdown Indicators

	PLTD	BERZ	Difference
Max Drawdown Largest peak-to-trough decline	-77.34%	-99.80%	+22.46%
Max Drawdown (1Y) Largest decline over 1 year	-44.79%	-87.32%	+42.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-98.97%	—
Current Drawdown Current decline from peak	-71.01%	-99.79%	+28.78%
Average Drawdown Average peak-to-trough decline	-59.43%	-71.57%	+12.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.14%	56.07%	-25.93%

Volatility

PLTD vs. BERZ - Volatility Comparison

The current volatility for Direxion Daily PLTR Bear 1X Shares (PLTD) is 18.68%, while MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a volatility of 23.63%. This indicates that PLTD experiences smaller price fluctuations and is considered to be less risky than BERZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLTD	BERZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.68%	23.63%	-4.95%
Volatility (6M) Calculated over the trailing 6-month period	38.02%	57.98%	-19.96%
Volatility (1Y) Calculated over the trailing 1-year period	51.79%	75.77%	-23.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.73%	92.20%	-28.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.73%	92.20%	-28.47%

PLTD vs. BERZ - Expense Ratio Comparison

PLTD has a 0.98% expense ratio, which is higher than BERZ's 0.95% expense ratio.

Dividends

PLTD vs. BERZ - Dividend Comparison

PLTD's dividend yield for the trailing twelve months is around 3.26%, while BERZ has not paid dividends to shareholders.

Position	TTM	2025
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN	0.00%	0.00%
PLTD Direxion Daily PLTR Bear 1X Shares	3.26%	5.17%

Frequently Asked Questions

Can I hold both PLTD and BERZ in my portfolio?

PLTD and BERZ have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTD or BERZ?

BERZ has higher volatility (23.63%) compared to PLTD (18.68%). In terms of maximum drawdown, PLTD dropped -77.34% vs BERZ's -99.80%.

Which ETF is better, PLTD or BERZ?

On 1-year performance, PLTD leads with -22.19% vs -86.22% for BERZ. On fees, BERZ is cheaper at 0.95% per year. On volatility, PLTD has been the lower-risk option at 18.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTD or BERZ?

Over the 1-year period, PLTD has performed better with a -22.19% return vs -86.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTD or BERZ?

BERZ is cheaper with a 0.95% expense ratio, compared with 0.98% for PLTD.

Which ETF pays a higher dividend yield, PLTD or BERZ?

PLTD has the higher dividend yield at 3.26%, compared with 0.00% for BERZ.

What is the main difference between PLTD and BERZ?

PLTD tracks Palantir Technologies Inc. (-100%), while BERZ tracks Solactive FANG Innovation Index. They also come from different issuers: Direxion and BMO. Their fees differ too: 0.98% for PLTD and 0.95% for BERZ.

Which has better risk-adjusted returns?

PLTD currently has the higher Sharpe Ratio (-0.43 vs -1.14), 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.