TINT vs. ERX

Last updated Aug 2, 2026

TINT (ProShares Smart Materials ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both Energy Equities funds - TINT tracks the Solactive Smart Materials Index - Benchmark TR Net while ERX tracks the Energy Select Sector Index (200%). Both are passively managed. Over the past 3 years, TINT returned 4.82%/yr vs 17.67%/yr for ERX. Their 0.30 correlation means their historical movements had little consistent relationship. TINT charges 0.58%/yr vs 0.91%/yr for ERX.

Performance

TINT vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Smart Materials ETF (TINT) and Direxion Daily Energy Bull 2X Shares (ERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TINT achieves a 15.69% return, which is significantly lower than ERX's 71.01% return.

TINT

• 1D: -0.40%
• 1M: -2.42%
• 6M: 7.68%
• YTD: 15.69%
• 1Y: 26.92%
• 3Y*: 4.82%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.41%

ERX

• 1D: 1.98%
• 1M: 23.93%
• 6M: 32.46%
• YTD: 71.01%
• 1Y: 85.96%
• 3Y*: 17.67%
• 5Y*: 35.70%
• 10Y*: -8.11%
• ALL TIME*: -6.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ERX Direxion Daily Energy Bull 2X Shares	$22.14M	$22.35M	$28.47M
TINT ProShares Smart Materials ETF	$21.03K	$17.30K	$33.22K

TINT vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TINT ProShares Smart Materials ETF	15.69%	16.13%	-13.37%	20.04%	-28.14%	1.56%
ERX Direxion Daily Energy Bull 2X Shares	71.01%	2.79%	1.09%	-12.26%	130.58%	-11.00%

Correlation

The correlation between TINT and ERX is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.05
Correlation (3Y) Balances recent behavior with more history.	0.19
Correlation (All Time) Calculated using the full available price history since Oct 27, 2021	0.30

The correlation between TINT and ERX shifts across timeframes, from -0.05 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

TINT vs. ERX - Sectors Allocation Comparison

Sectors	TINT	ERX
Basic Materials	70.5%	-
Technology	18.4%	-
Industrials	7.9%	-
Financial Services	2.5%	-
Healthcare	0.7%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Real Estate	-	-
Utilities	-	-

Return for Risk

TINT vs. ERX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TINT

TINT Risk / Return Rank: 41
TINT Sharpe Ratio Rank: 42
TINT Sortino Ratio Rank: 42
TINT Omega Ratio Rank: 42
TINT Calmar Ratio Rank: 41
TINT Martin Ratio Rank: 42

ERX

ERX Risk / Return Rank: 71
ERX Sharpe Ratio Rank: 82
ERX Sortino Ratio Rank: 72
ERX Omega Ratio Rank: 69
ERX Calmar Ratio Rank: 76
ERX Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TINT vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Smart Materials ETF (TINT) 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.

	TINT	ERX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.88	-0.84
Sortino ratio: Return per unit of downside risk	1.58	2.31	-0.74
Omega ratio: Gain probability vs. loss probability	1.20	1.29	-0.09
Calmar ratio: Return relative to maximum drawdown	1.47	2.65	-1.19
Martin ratio: Return relative to average drawdown	4.56	6.74	-2.18

TINT vs. ERX - Sharpe Ratio Comparison

The current TINT Sharpe Ratio is 1.04, which is lower than the ERX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of TINT and ERX, 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

TINT vs. ERX - Drawdown Comparison

The maximum TINT drawdown since its inception was -41.36%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for TINT and ERX.

Drawdown Indicators

	TINT	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-41.36%	-99.54%	+58.18%
Max Drawdown (1Y) Largest decline over 1 year	-17.53%	-29.97%	+12.44%
Max Drawdown (3Y) Largest decline over 3 years	-30.42%	-42.34%	+11.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-46.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.59%	—
Current Drawdown Current decline from peak	-9.48%	-91.37%	+81.89%
Average Drawdown Average peak-to-trough decline	-20.64%	-67.24%	+46.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.63%	11.83%	-6.20%

Volatility

TINT vs. ERX - Volatility Comparison

The current volatility for ProShares Smart Materials ETF (TINT) is 5.54%, while Direxion Daily Energy Bull 2X Shares (ERX) has a volatility of 11.87%. This indicates that TINT experiences smaller price fluctuations and is considered to be less risky than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TINT	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	11.87%	-6.33%
Volatility (6M) Calculated over the trailing 6-month period	21.41%	33.76%	-12.35%
Volatility (1Y) Calculated over the trailing 1-year period	24.72%	42.31%	-17.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.48%	51.50%	-28.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.48%	68.84%	-45.36%

TINT vs. ERX - Expense Ratio Comparison

TINT has a 0.58% expense ratio, which is lower than ERX's 0.91% expense ratio.

Dividends

TINT vs. ERX - Dividend Comparison

TINT's dividend yield for the trailing twelve months is around 1.19%, less than ERX's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERX Direxion Daily Energy Bull 2X Shares	1.49%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%
TINT ProShares Smart Materials ETF	1.19%	1.27%	1.47%	0.99%	1.36%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TINT and ERX in my portfolio?

TINT and ERX have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TINT or ERX?

ERX has higher volatility (11.87%) compared to TINT (5.54%). In terms of maximum drawdown, TINT dropped -41.36% vs ERX's -99.54%.

Which ETF is better, TINT or ERX?

On 3-year performance, ERX leads with 17.67% vs 4.82% for TINT. On fees, TINT is cheaper at 0.58% per year. On volatility, TINT has been the lower-risk option at 5.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TINT or ERX?

Over the 3-year period, ERX has performed better with a 17.67% return vs 4.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TINT or ERX?

TINT is cheaper with a 0.58% expense ratio, compared with 0.91% for ERX.

Which ETF pays a higher dividend yield, TINT or ERX?

ERX has the higher dividend yield at 1.49%, compared with 1.19% for TINT.

What is the main difference between TINT and ERX?

TINT tracks Solactive Smart Materials Index - Benchmark TR Net, while ERX tracks Energy Select Sector Index (200%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.58% for TINT and 0.91% for ERX.

Which has better risk-adjusted returns?

ERX currently has the higher Sharpe Ratio (1.88 vs 1.04), 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.