TRVI vs. DFEN

Last updated Jun 13, 2026

TRVI (Trevi Therapeutics, 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%). Over the past 5 years, TRVI returned 44.83%/yr vs 29.22%/yr for DFEN. At a 0.20 correlation, their price movements are largely independent.

Performance

TRVI vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trevi Therapeutics, Inc. (TRVI) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TRVI having a 13.50% return and DFEN slightly lower at 13.12%.

TRVI

• 1D: 5.57%
• 1M: -6.94%
• YTD: 13.50%
• 6M: 11.28%
• 1Y: 130.31%
• 3Y*: 75.70%
• 5Y*: 44.83%
• 10Y*: —

DFEN

• 1D: -2.71%
• 1M: 7.74%
• YTD: 13.12%
• 6M: 20.44%
• 1Y: 76.99%
• 3Y*: 64.38%
• 5Y*: 29.22%
• 10Y*: —

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

TRVI vs. DFEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TRVI Trevi Therapeutics, Inc.	13.50%	203.88%	207.46%	-30.57%	146.74%	-67.68%	-35.47%	-60.53%
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	13.12%	156.62%	27.07%	24.70%	6.99%	12.72%	-70.23%	12.52%

Correlation

The correlation between TRVI and DFEN is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since May 7, 2019	0.20

Return for Risk

TRVI vs. DFEN — Risk / Return Rank

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

TRVI

TRVI Risk / Return Rank: 89
TRVI Sharpe Ratio Rank: 91
TRVI Sortino Ratio Rank: 87
TRVI Omega Ratio Rank: 86
TRVI Calmar Ratio Rank: 91
TRVI Martin Ratio Rank: 89

DFEN

DFEN Risk / Return Rank: 38
DFEN Sharpe Ratio Rank: 37
DFEN Sortino Ratio Rank: 40
DFEN Omega Ratio Rank: 36
DFEN Calmar Ratio Rank: 42
DFEN Martin Ratio Rank: 33

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.

TRVI vs. DFEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trevi Therapeutics, Inc. (TRVI) 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.

	TRVI	DFEN	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.18	+0.99
Sortino ratio: Return per unit of downside risk	2.72	1.85	+0.87
Omega ratio: Gain probability vs. loss probability	1.35	1.22	+0.13
Calmar ratio: Return relative to maximum drawdown	4.44	1.85	+2.59
Martin ratio: Return relative to average drawdown	10.40	4.29	+6.10

TRVI vs. DFEN - Sharpe Ratio Comparison

The current TRVI Sharpe Ratio is 2.17, which is higher than the DFEN Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of TRVI and DFEN, 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

TRVI vs. DFEN - Drawdown Comparison

The maximum TRVI drawdown since its inception was -95.45%, roughly equal to the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for TRVI and DFEN.

Drawdown Indicators

	TRVI	DFEN	Difference
Max Drawdown Largest peak-to-trough decline	-95.45%	-91.36%	-4.09%
Max Drawdown (1Y) Largest decline over 1 year	-29.50%	-41.75%	+12.25%
Max Drawdown (3Y) Largest decline over 3 years	-61.96%	-43.13%	-18.83%
Max Drawdown (5Y) Largest decline over 5 years	-80.26%	-55.30%	-24.96%
Current Drawdown Current decline from peak	-7.73%	-25.87%	+18.14%
Average Drawdown Average peak-to-trough decline	-61.49%	-45.20%	-16.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.58%	17.99%	-5.41%

Volatility

TRVI vs. DFEN - Volatility Comparison

The current volatility for Trevi Therapeutics, Inc. (TRVI) is 13.78%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 27.31%. This indicates that TRVI 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.

Volatility by Period

	TRVI	DFEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.78%	27.31%	-13.53%
Volatility (6M) Calculated over the trailing 6-month period	39.38%	55.81%	-16.43%
Volatility (1Y) Calculated over the trailing 1-year period	60.39%	65.81%	-5.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.26%	60.74%	+27.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.35%	71.66%	+27.69%

Dividends

TRVI vs. DFEN - Dividend Comparison

TRVI has not paid dividends to shareholders, while DFEN's dividend yield for the trailing twelve months is around 7.89%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares	7.89%	8.89%	14.12%	1.13%	0.46%	1.89%	0.48%	0.50%	1.07%	1.50%
TRVI Trevi Therapeutics, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRVI and DFEN in my portfolio?

TRVI and DFEN have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRVI or DFEN?

DFEN has higher volatility (27.31%) compared to TRVI (13.78%). In terms of maximum drawdown, TRVI dropped -95.45% vs DFEN's -91.36%.

Which has better risk-adjusted returns?

TRVI currently has the higher Sharpe Ratio (2.17 vs 1.18), 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.