SIJ vs. ERX
SIJ (ProShares UltraShort Industrials) and ERX (Direxion Daily Energy Bull 2X Shares) are both Leveraged Equities funds - SIJ tracks the DJ Global United States (All) / Industrials -IND (-200%) while ERX tracks the Energy Select Sector Index (300%). Both are passively managed. Over the past 10 years, SIJ returned -27.81%/yr vs -11.06%/yr for ERX. At a correlation of -0.58, they often move in opposite directions. SIJ charges 0.95%/yr vs 1.09%/yr for ERX.
Performance
SIJ vs. ERX - Performance Comparison
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Returns By Period
In the year-to-date period, SIJ achieves a -28.55% return, which is significantly lower than ERX's 47.05% return. Over the past 10 years, SIJ has underperformed ERX with an annualized return of -27.81%, while ERX has yielded a comparatively higher -11.06% annualized return.
SIJ
- 1D
- -1.30%
- 1M
- -6.93%
- 6M
- -21.99%
- YTD
- -28.55%
- 1Y
- -32.13%
- 3Y*
- -28.25%
- 5Y*
- -19.80%
- 10Y*
- -27.81%
ERX
- 1D
- 0.89%
- 1M
- -8.07%
- 6M
- 35.65%
- YTD
- 47.05%
- 1Y
- 46.91%
- 3Y*
- 15.12%
- 5Y*
- 27.99%
- 10Y*
- -11.06%
SIJ vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -28.55% | -29.33% | -21.63% | -24.18% | 18.15% | -34.31% | -54.09% | -45.12% | 20.55% | -36.32% |
ERX Direxion Daily Energy Bull 2X Shares | 47.05% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -91.60% | 17.13% | -55.94% | -11.60% |
Correlation
The correlation between SIJ and ERX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.46 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2008 | -0.58 |
Over the past year, the inverse relationship between SIJ and ERX has weakened: their correlation has moved from -0.58 to -0.02, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SIJ vs. ERX — Risk / Return Rank
SIJ
ERX
SIJ vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) and Direxion Daily Energy Bull 2X Shares (ERX). 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.
| SIJ | ERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.10 | ||
| Sortino ratioReturn per unit of downside risk | -2.94 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.20 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 1.62 | -2.46 |
| Martin ratioReturn relative to average drawdown | -1.64 | 4.23 | -5.88 |
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Drawdowns
SIJ vs. ERX - Drawdown Comparison
The maximum SIJ drawdown since its inception was -99.93%, roughly equal to the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for SIJ and ERX.
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Drawdown Indicators
| SIJ | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -99.54% | -0.39% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -29.97% | -7.56% |
Max Drawdown (3Y)Largest decline over 3 years | -72.61% | -42.34% | -30.27% |
Max Drawdown (5Y)Largest decline over 5 years | -78.65% | -46.90% | -31.75% |
Max Drawdown (10Y)Largest decline over 10 years | -96.42% | -98.59% | +2.17% |
Current DrawdownCurrent decline from peak | -99.93% | -92.58% | -7.35% |
Average DrawdownAverage peak-to-trough decline | -86.79% | -67.16% | -19.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.35% | 11.42% | +7.93% |
Volatility
SIJ vs. ERX - Volatility Comparison
ProShares UltraShort Industrials (SIJ) and Direxion Daily Energy Bull 2X Shares (ERX) have volatilities of 13.89% and 13.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIJ | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.89% | 13.86% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 28.40% | 33.73% | -5.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.95% | 41.78% | -7.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.22% | 51.77% | -15.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.65% | 68.93% | -29.28% |
SIJ vs. ERX - Expense Ratio Comparison
SIJ has a 0.95% expense ratio, which is lower than ERX's 1.09% expense ratio.
Dividends
SIJ vs. ERX - Dividend Comparison
SIJ's dividend yield for the trailing twelve months is around 4.93%, more than ERX's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.73% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
SIJ ProShares UltraShort Industrials | 4.93% | 5.38% | 5.99% | 4.90% | 0.00% | 0.00% | 0.00% | 1.49% | 0.39% | 0.00% |
Frequently Asked Questions
SIJ and ERX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIJ has higher volatility (13.89%) compared to ERX (13.86%). In terms of maximum drawdown, SIJ dropped -99.93% vs ERX's -99.54%.
On 10-year performance, ERX leads with -11.06% vs -27.81% for SIJ. On fees, SIJ is cheaper at 0.95% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ERX has performed better with a -11.06% return vs -27.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIJ is cheaper with a 0.95% expense ratio, compared with 1.09% for ERX.
SIJ has the higher dividend yield at 4.93%, compared with 1.73% for ERX.
SIJ tracks DJ Global United States (All) / Industrials -IND (-200%), while ERX tracks Energy Select Sector Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SIJ and 1.09% for ERX.
ERX currently has the higher Sharpe Ratio (1.16 vs -0.94), 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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