SIXH vs. AVL

Last updated Jun 4, 2026

SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) and AVL (Direxion Daily AVGO Bull 2X Shares) are both exchange-traded funds - SIXH is a Volatility Hedged Equity fund actively managed by Exchange Traded Concepts, while AVL is a Leveraged Equities fund actively managed by Direxion. Both are actively managed. Over the past year, SIXH returned 10.61% vs 167.73% for AVL. At a correlation of -0.08, they often move in opposite directions. SIXH charges 0.87%/yr vs 1.04%/yr for AVL.

Performance

SIXH vs. AVL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Direxion Daily AVGO Bull 2X Shares (AVL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXH achieves a 7.20% return, which is significantly lower than AVL's 72.10% return.

SIXH

• 1D: 0.48%
• 1M: -0.21%
• YTD: 7.20%
• 6M: 8.70%
• 1Y: 10.61%
• 3Y*: 12.22%
• 5Y*: 8.95%
• 10Y*: —

AVL

• 1D: -0.97%
• 1M: 29.70%
• YTD: 72.10%
• 6M: 38.64%
• 1Y: 167.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIXH vs. AVL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	7.20%	9.47%	-1.04%
AVL Direxion Daily AVGO Bull 2X Shares	72.10%	54.38%	39.90%

Correlation

The correlation between SIXH and AVL is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024	-0.08

SIXH vs. AVL - Sectors Allocation Comparison

Sectors	SIXH	AVL
Consumer Defensive	23.2%	-
Technology	20.2%	100.0%
Communication Services	13.3%	-
Healthcare	12.6%	-
Financial Services	9.7%	-
Industrials	7.8%	-
Consumer Cyclical	6.8%	-
Utilities	5.0%	-
Real Estate	1.4%	-
Energy	0.1%	-
Basic Materials	0.1%	-

Return for Risk

SIXH vs. AVL — Risk / Return Rank

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

SIXH

SIXH Risk / Return Rank: 42
SIXH Sharpe Ratio Rank: 39
SIXH Sortino Ratio Rank: 43
SIXH Omega Ratio Rank: 38
SIXH Calmar Ratio Rank: 49
SIXH Martin Ratio Rank: 39

AVL

AVL Risk / Return Rank: 53
AVL Sharpe Ratio Rank: 58
AVL Sortino Ratio Rank: 52
AVL Omega Ratio Rank: 50
AVL Calmar Ratio Rank: 63
AVL Martin Ratio Rank: 43

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.

SIXH vs. AVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Direxion Daily AVGO Bull 2X Shares (AVL). 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.

	SIXH	AVL	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.97	-0.57
Sortino ratio: Return per unit of downside risk	2.18	2.54	-0.36
Omega ratio: Gain probability vs. loss probability	1.25	1.32	-0.07
Calmar ratio: Return relative to maximum drawdown	2.44	3.14	-0.70
Martin ratio: Return relative to average drawdown	6.25	7.02	-0.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIXH vs. AVL - Sharpe Ratio Comparison

The current SIXH Sharpe Ratio is 1.40, which is comparable to the AVL Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of SIXH and AVL, 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

	SIXH	AVL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	1.97	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	1.18	-0.12

Drawdowns

SIXH vs. AVL - Drawdown Comparison

The maximum SIXH drawdown since its inception was -11.68%, smaller than the maximum AVL drawdown of -70.63%. Use the drawdown chart below to compare losses from any high point for SIXH and AVL.

Drawdown Indicators

	SIXH	AVL	Difference
Max Drawdown Largest peak-to-trough decline	-11.68%	-70.63%	+58.95%
Max Drawdown (1Y) Largest decline over 1 year	-4.36%	-53.69%	+49.33%
Max Drawdown (3Y) Largest decline over 3 years	-9.10%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.68%	—	—
Current Drawdown Current decline from peak	-2.42%	-0.97%	-1.45%
Average Drawdown Average peak-to-trough decline	-1.85%	-23.38%	+21.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	24.00%	-22.30%

Volatility

SIXH vs. AVL - Volatility Comparison

The current volatility for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) is 2.31%, while Direxion Daily AVGO Bull 2X Shares (AVL) has a volatility of 23.46%. This indicates that SIXH experiences smaller price fluctuations and is considered to be less risky than AVL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXH	AVL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	23.46%	-21.15%
Volatility (6M) Calculated over the trailing 6-month period	6.02%	61.68%	-55.66%
Volatility (1Y) Calculated over the trailing 1-year period	7.60%	85.76%	-78.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.37%	105.25%	-94.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.15%	105.25%	-95.10%

SIXH vs. AVL - Expense Ratio Comparison

SIXH has a 0.87% expense ratio, which is lower than AVL's 1.04% expense ratio.

Dividends

SIXH vs. AVL - Dividend Comparison

SIXH's dividend yield for the trailing twelve months is around 1.90%, less than AVL's 17.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
AVL Direxion Daily AVGO Bull 2X Shares	17.16%	29.04%	0.22%	0.00%	0.00%	0.00%	0.00%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.90%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%

Frequently Asked Questions

Can I hold both SIXH and AVL in my portfolio?

SIXH and AVL have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXH or AVL?

AVL has higher volatility (23.46%) compared to SIXH (2.31%). In terms of maximum drawdown, SIXH dropped -11.68% vs AVL's -70.63%.

Which ETF is better, SIXH or AVL?

On 1-year performance, AVL leads with 167.73% vs 10.61% for SIXH. On fees, SIXH is cheaper at 0.87% per year. On volatility, SIXH has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXH or AVL?

Over the 1-year period, AVL has performed better with a 167.73% return vs 10.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXH or AVL?

SIXH is cheaper with a 0.87% expense ratio, compared with 1.04% for AVL.

Which ETF pays a higher dividend yield, SIXH or AVL?

AVL has the higher dividend yield at 17.16%, compared with 1.90% for SIXH.

What is the main difference between SIXH and AVL?

SIXH is categorized as Volatility Hedged Equity, while AVL is Leveraged Equities. They also come from different issuers: Exchange Traded Concepts and Direxion. Their fees differ too: 0.87% for SIXH and 1.04% for AVL.

Which has better risk-adjusted returns?

AVL currently has the higher Sharpe Ratio (1.97 vs 1.40), 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.