UMI vs. ERX

Last updated Aug 2, 2026

UMI (USCF Midstream Energy Income Fund ETF) and ERX (Direxion Daily Energy Bull 2X Shares) are both Energy Equities funds. UMI is actively managed, while ERX is passively managed. Over the past 5 years, UMI returned 22.50%/yr vs 35.70%/yr for ERX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. UMI charges 0.85%/yr vs 0.91%/yr for ERX.

Performance

UMI vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USCF Midstream Energy Income Fund ETF (UMI) 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, UMI achieves a 26.70% return, which is significantly lower than ERX's 71.01% return.

UMI

• 1D: 0.50%
• 1M: 3.72%
• 6M: 18.07%
• YTD: 26.70%
• 1Y: 28.25%
• 3Y*: 26.23%
• 5Y*: 22.50%
• 10Y*: —
• ALL TIME*: 14.58%

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
UMI USCF Midstream Energy Income Fund ETF	$1.28M	$1.03M	$1.15M

UMI vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMI USCF Midstream Energy Income Fund ETF	26.70%	5.11%	42.97%	14.60%	20.78%	20.97%	-8.25%	21.06%	-10.64%	2.76%
ERX Direxion Daily Energy Bull 2X Shares	71.01%	2.79%	1.09%	-12.26%	130.58%	111.91%	-91.60%	17.13%	-55.94%	20.78%

Correlation

The correlation between UMI and ERX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.67
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (All Time) Calculated using the full available price history since Nov 30, 2017	0.64

The correlation between UMI and ERX shifts across timeframes, from 0.64 (all time) to 0.76 (5 years), reflecting how their relationship changes across market environments.

UMI vs. ERX - Sectors Allocation Comparison

Sectors	UMI	ERX
Energy	99.1%	100.0%
Utilities	0.9%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

UMI vs. ERX — Risk / Return Rank

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

UMI

UMI Risk / Return Rank: 83
UMI Sharpe Ratio Rank: 84
UMI Sortino Ratio Rank: 83
UMI Omega Ratio Rank: 81
UMI Calmar Ratio Rank: 90
UMI Martin Ratio Rank: 76

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.

UMI vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USCF Midstream Energy Income Fund ETF (UMI) 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.

	UMI	ERX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.88	+0.07
Sortino ratio: Return per unit of downside risk	2.69	2.31	+0.38
Omega ratio: Gain probability vs. loss probability	1.34	1.29	+0.05
Calmar ratio: Return relative to maximum drawdown	3.79	2.65	+1.13
Martin ratio: Return relative to average drawdown	9.51	6.74	+2.77

UMI vs. ERX - Sharpe Ratio Comparison

The current UMI Sharpe Ratio is 1.95, which is comparable to the ERX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of UMI 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

UMI vs. ERX - Drawdown Comparison

The maximum UMI drawdown since its inception was -48.08%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for UMI and ERX.

Drawdown Indicators

	UMI	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-48.08%	-99.54%	+51.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.50%	-29.97%	+22.47%
Max Drawdown (3Y) Largest decline over 3 years	-17.08%	-42.34%	+25.26%
Max Drawdown (5Y) Largest decline over 5 years	-20.05%	-46.90%	+26.85%
Max Drawdown (10Y) Largest decline over 10 years	—	-98.59%	—
Current Drawdown Current decline from peak	-2.00%	-91.37%	+89.37%
Average Drawdown Average peak-to-trough decline	-6.53%	-67.24%	+60.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	11.83%	-8.85%

Volatility

UMI vs. ERX - Volatility Comparison

The current volatility for USCF Midstream Energy Income Fund ETF (UMI) is 5.19%, while Direxion Daily Energy Bull 2X Shares (ERX) has a volatility of 11.87%. This indicates that UMI 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

	UMI	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	11.87%	-6.68%
Volatility (6M) Calculated over the trailing 6-month period	11.67%	33.76%	-22.09%
Volatility (1Y) Calculated over the trailing 1-year period	14.59%	42.31%	-27.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.35%	51.50%	-32.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.10%	68.84%	-45.74%

UMI vs. ERX - Expense Ratio Comparison

UMI has a 0.85% expense ratio, which is lower than ERX's 0.91% expense ratio.

Dividends

UMI vs. ERX - Dividend Comparison

UMI's dividend yield for the trailing twelve months is around 5.80%, more 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%
UMI USCF Midstream Energy Income Fund ETF	5.80%	6.23%	4.39%	4.67%	4.36%	3.00%	2.18%	2.47%	2.48%	0.15%

Frequently Asked Questions

Can I hold both UMI and ERX in my portfolio?

UMI and ERX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UMI or ERX?

ERX has higher volatility (11.87%) compared to UMI (5.19%). In terms of maximum drawdown, UMI dropped -48.08% vs ERX's -99.54%.

Which ETF is better, UMI or ERX?

On 5-year performance, ERX leads with 35.70% vs 22.50% for UMI. On fees, UMI is cheaper at 0.85% per year. On volatility, UMI has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UMI or ERX?

Over the 5-year period, ERX has performed better with a 35.70% return vs 22.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UMI or ERX?

UMI is cheaper with a 0.85% expense ratio, compared with 0.91% for ERX.

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

UMI has the higher dividend yield at 5.80%, compared with 1.49% for ERX.

What is the main difference between UMI and ERX?

They also come from different issuers: USCF and Direxion. Their fees differ too: 0.85% for UMI and 0.91% for ERX.

Which has better risk-adjusted returns?

UMI currently has the higher Sharpe Ratio (1.95 vs 1.88), 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.