SRFM vs. DFEN
SRFM (Surf Air Mobility Inc.) is a stock, while DFEN (Direxion Daily Aerospace & Defense Bull 3X Shares) is Leveraged Equities fund tracking the Dow Jones U.S. Select Aerospace & Defense Index (300% Daily). Over the past year, SRFM returned -45.03% vs 71.10% for DFEN. At a 0.25 correlation, their price movements are largely independent.
Performance
SRFM vs. DFEN - Performance Comparison
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Returns By Period
In the year-to-date period, SRFM achieves a -45.88% return, which is significantly lower than DFEN's 15.64% return.
SRFM
- 1D
- -1.87%
- 1M
- -15.32%
- YTD
- -45.88%
- 6M
- -50.47%
- 1Y
- -45.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DFEN
- 1D
- 0.49%
- 1M
- 11.93%
- YTD
- 15.64%
- 6M
- 7.44%
- 1Y
- 71.10%
- 3Y*
- 68.88%
- 5Y*
- 30.03%
- 10Y*
- —
SRFM vs. DFEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SRFM Surf Air Mobility Inc. | -45.88% | -64.01% | -50.32% | -69.00% |
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 15.64% | 156.62% | 27.07% | 20.91% |
Correlation
The correlation between SRFM and DFEN is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2023 | 0.25 |
The correlation between SRFM and DFEN shifts across timeframes, from 0.25 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SRFM vs. DFEN — Risk / Return Rank
SRFM
DFEN
SRFM vs. DFEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Surf Air Mobility Inc. (SRFM) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.
| SRFM | DFEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.20 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 1.71 | -2.22 |
| Martin ratioReturn relative to average drawdown | -0.65 | 3.90 | -4.55 |
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Drawdowns
SRFM vs. DFEN - Drawdown Comparison
The maximum SRFM drawdown since its inception was -97.29%, which is greater than DFEN's maximum drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for SRFM and DFEN.
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Drawdown Indicators
| SRFM | DFEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.29% | -91.36% | -5.93% |
Max Drawdown (1Y)Largest decline over 1 year | -88.30% | -41.75% | -46.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -43.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -55.30% | — |
Current DrawdownCurrent decline from peak | -97.00% | -24.22% | -72.78% |
Average DrawdownAverage peak-to-trough decline | -87.76% | -45.13% | -42.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 68.85% | 18.29% | +50.56% |
Volatility
SRFM vs. DFEN - Volatility Comparison
The current volatility for Surf Air Mobility Inc. (SRFM) is 18.05%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 25.03%. This indicates that SRFM experiences smaller price fluctuations and is considered to be less risky than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRFM | DFEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.05% | 25.03% | -6.98% |
Volatility (6M)Calculated over the trailing 6-month period | 70.40% | 55.87% | +14.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 147.81% | 66.30% | +81.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 151.56% | 60.78% | +90.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 151.56% | 71.63% | +79.93% |
Dividends
SRFM vs. DFEN - Dividend Comparison
SRFM has not paid dividends to shareholders, while DFEN's dividend yield for the trailing twelve months is around 7.72%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 7.72% | 8.89% | 14.12% | 1.13% | 0.46% | 1.89% | 0.48% | 0.50% | 1.07% | 1.50% |
SRFM Surf Air Mobility Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SRFM and DFEN have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFEN has higher volatility (25.03%) compared to SRFM (18.05%). In terms of maximum drawdown, SRFM dropped -97.29% vs DFEN's -91.36%.
DFEN currently has the higher Sharpe Ratio (1.08 vs -0.31), 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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