SKRE vs. NFXS

Last updated Jul 14, 2026

SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) and NFXS (Direxion Daily NFLX Bear 1X Shares) are both Inverse Equities funds. SKRE is passively managed, while NFXS is actively managed. Over the past year, SKRE returned -40.68% vs 60.27% for NFXS. At a 0.08 correlation, their price movements are largely independent. SKRE charges 0.75%/yr vs 1.03%/yr for NFXS.

Performance

SKRE vs. NFXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) and Direxion Daily NFLX Bear 1X Shares (NFXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKRE achieves a -31.48% return, which is significantly lower than NFXS's 22.10% return.

SKRE

• 1D: 0.15%
• 1M: -6.10%
• 6M: -27.31%
• YTD: -31.48%
• 1Y: -40.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NFXS

• 1D: -0.62%
• 1M: 7.91%
• 6M: 16.25%
• YTD: 22.10%
• 1Y: 60.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SKRE vs. NFXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-31.48%	-31.29%	-25.79%
NFXS Direxion Daily NFLX Bear 1X Shares	22.10%	-8.56%	-21.49%

Correlation

The correlation between SKRE and NFXS 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 (All Time) Calculated using the full available price history since Oct 3, 2024	0.08

The correlation between SKRE and NFXS shifts across timeframes, from -0.02 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SKRE vs. NFXS — Risk / Return Rank

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

SKRE

SKRE Risk / Return Rank: 2
SKRE Sharpe Ratio Rank: 2
SKRE Sortino Ratio Rank: 3
SKRE Omega Ratio Rank: 3
SKRE Calmar Ratio Rank: 2
SKRE Martin Ratio Rank: 1

NFXS

NFXS Risk / Return Rank: 59
NFXS Sharpe Ratio Rank: 68
NFXS Sortino Ratio Rank: 63
NFXS Omega Ratio Rank: 72
NFXS Calmar Ratio Rank: 48
NFXS Martin Ratio Rank: 41

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.

SKRE vs. NFXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) and Direxion Daily NFLX Bear 1X Shares (NFXS). 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.

	SKRE	NFXS	Difference
Sharpe ratio: Return per unit of total volatility	-0.88	1.76	-2.64
Sortino ratio: Return per unit of downside risk	-1.25	2.35	-3.60
Omega ratio: Gain probability vs. loss probability	0.86	1.34	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.83	1.93	-2.77
Martin ratio: Return relative to average drawdown	-1.44	5.26	-6.70

SKRE vs. NFXS - Sharpe Ratio Comparison

The current SKRE Sharpe Ratio is -0.88, which is lower than the NFXS Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of SKRE and NFXS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SKRE vs. NFXS - Drawdown Comparison

The maximum SKRE drawdown since its inception was -78.32%, which is greater than NFXS's maximum drawdown of -50.37%. Use the drawdown chart below to compare losses from any high point for SKRE and NFXS.

Drawdown Indicators

	SKRE	NFXS	Difference
Max Drawdown Largest peak-to-trough decline	-78.32%	-50.37%	-27.95%
Max Drawdown (1Y) Largest decline over 1 year	-49.07%	-31.31%	-17.76%
Current Drawdown Current decline from peak	-77.77%	-14.36%	-63.41%
Average Drawdown Average peak-to-trough decline	-48.39%	-31.42%	-16.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.32%	11.49%	+16.83%

Volatility

SKRE vs. NFXS - Volatility Comparison

Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) and Direxion Daily NFLX Bear 1X Shares (NFXS) have volatilities of 11.56% and 11.99%, 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.

Volatility by Period

	SKRE	NFXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.56%	11.99%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	32.34%	27.58%	+4.76%
Volatility (1Y) Calculated over the trailing 1-year period	46.52%	34.53%	+11.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.15%	34.82%	+20.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.15%	34.82%	+20.33%

SKRE vs. NFXS - Expense Ratio Comparison

SKRE has a 0.75% expense ratio, which is lower than NFXS's 1.03% expense ratio.

Dividends

SKRE vs. NFXS - Dividend Comparison

SKRE's dividend yield for the trailing twelve months is around 0.37%, less than NFXS's 2.90% yield.

Position	TTM	2025	2024
NFXS Direxion Daily NFLX Bear 1X Shares	2.90%	3.53%	0.87%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.37%	0.26%	3.16%

Frequently Asked Questions

Can I hold both SKRE and NFXS in my portfolio?

SKRE and NFXS 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.

Which is riskier, SKRE or NFXS?

NFXS has higher volatility (11.99%) compared to SKRE (11.56%). In terms of maximum drawdown, SKRE dropped -78.32% vs NFXS's -50.37%.

Which ETF is better, SKRE or NFXS?

On 1-year performance, NFXS leads with 60.27% vs -40.68% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 11.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKRE or NFXS?

Over the 1-year period, NFXS has performed better with a 60.27% return vs -40.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKRE or NFXS?

SKRE is cheaper with a 0.75% expense ratio, compared with 1.03% for NFXS.

Which ETF pays a higher dividend yield, SKRE or NFXS?

NFXS has the higher dividend yield at 2.90%, compared with 0.37% for SKRE.

What is the main difference between SKRE and NFXS?

They also come from different issuers: Tuttle and Direxion. Their fees differ too: 0.75% for SKRE and 1.03% for NFXS.

Which has better risk-adjusted returns?

NFXS currently has the higher Sharpe Ratio (1.76 vs -0.88), 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.