URTY vs. ERX

Last updated Aug 4, 2026

URTY (ProShares UltraPro Russell2000) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - URTY is a Leveraged Equities fund tracking the Russell 2000 Index (300%), while ERX is a Energy Equities fund tracking the Energy Select Sector Index (200%). Both are passively managed. Over the past 10 years, URTY returned 6.75%/yr vs -9.07%/yr for ERX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. URTY charges 0.95%/yr vs 0.91%/yr for ERX.

Performance

URTY vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Russell2000 (URTY) 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, URTY achieves a 55.97% return, which is significantly lower than ERX's 66.56% return. Over the past 10 years, URTY has outperformed ERX with an annualized return of 6.75%, while ERX has yielded a comparatively lower -9.07% annualized return.

URTY

• 1D: 5.14%
• 1M: -2.55%
• 6M: 31.22%
• YTD: 55.97%
• 1Y: 118.59%
• 3Y*: 23.05%
• 5Y*: -2.82%
• 10Y*: 6.75%
• ALL TIME*: 14.07%

ERX

• 1D: -2.60%
• 1M: 20.71%
• 6M: 34.28%
• YTD: 66.56%
• 1Y: 81.13%
• 3Y*: 16.84%
• 5Y*: 36.03%
• 10Y*: -9.07%
• ALL TIME*: -7.12%

*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	$21.45M	$22.83M	$28.29M
URTY ProShares UltraPro Russell2000	$35.77M	$36.50M	$68.68M

URTY vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
URTY ProShares UltraPro Russell2000	55.97%	9.26%	7.38%	24.43%	-62.81%	28.47%	-7.72%	72.37%	-39.59%	38.85%
ERX Direxion Daily Energy Bull 2X Shares	66.56%	2.79%	1.09%	-12.26%	130.58%	111.91%	-91.60%	17.13%	-55.94%	-11.60%

Correlation

The correlation between URTY and ERX is -0.06, 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.	-0.06
Correlation (3Y) Balances recent behavior with more history.	0.26
Correlation (5Y) Shows whether the relationship held over a longer period.	0.37
Correlation (10Y) Provides a long-term view across more market conditions.	0.50
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.59

The correlation between URTY and ERX shifts across timeframes, from -0.06 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

URTY vs. ERX - Sectors Allocation Comparison

Sectors	URTY	ERX
Healthcare	20.2%	-
Financial Services	17.7%	-
Technology	14.8%	-
Industrials	14.1%	-
Consumer Cyclical	9.2%	-
Real Estate	6.7%	-
Energy	5.4%	100.0%
Basic Materials	4.4%	-
Utilities	2.7%	-
Consumer Defensive	2.6%	-
Communication Services	2.2%	-

Return for Risk

URTY vs. ERX — Risk / Return Rank

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

URTY

URTY Risk / Return Rank: 81
URTY Sharpe Ratio Rank: 85
URTY Sortino Ratio Rank: 77
URTY Omega Ratio Rank: 71
URTY Calmar Ratio Rank: 88
URTY Martin Ratio Rank: 84

ERX

ERX Risk / Return Rank: 70
ERX Sharpe Ratio Rank: 81
ERX Sortino Ratio Rank: 71
ERX Omega Ratio Rank: 68
ERX Calmar Ratio Rank: 75
ERX Martin Ratio Rank: 56

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.

URTY vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Russell2000 (URTY) 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.

	URTY	ERX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.93	+0.13
Sortino ratio: Return per unit of downside risk	2.56	2.36	+0.20
Omega ratio: Gain probability vs. loss probability	1.30	1.29	+0.01
Calmar ratio: Return relative to maximum drawdown	3.66	2.72	+0.94
Martin ratio: Return relative to average drawdown	12.00	6.90	+5.11

URTY vs. ERX - Sharpe Ratio Comparison

The current URTY Sharpe Ratio is 2.06, which is comparable to the ERX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of URTY 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

URTY vs. ERX - Drawdown Comparison

The maximum URTY drawdown since its inception was -88.09%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for URTY and ERX.

Drawdown Indicators

	URTY	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-88.09%	-99.54%	+11.45%
Max Drawdown (1Y) Largest decline over 1 year	-32.56%	-29.97%	-2.59%
Max Drawdown (3Y) Largest decline over 3 years	-65.85%	-42.34%	-23.51%
Max Drawdown (5Y) Largest decline over 5 years	-82.76%	-46.90%	-35.86%
Max Drawdown (10Y) Largest decline over 10 years	-88.09%	-98.59%	+10.50%
Current Drawdown Current decline from peak	-35.79%	-91.59%	+55.80%
Average Drawdown Average peak-to-trough decline	-34.80%	-67.25%	+32.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.92%	11.81%	-1.89%

Volatility

URTY vs. ERX - Volatility Comparison

ProShares UltraPro Russell2000 (URTY) and Direxion Daily Energy Bull 2X Shares (ERX) have volatilities of 12.57% and 12.43%, 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

	URTY	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.57%	12.43%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	42.24%	33.84%	+8.40%
Volatility (1Y) Calculated over the trailing 1-year period	57.90%	42.28%	+15.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.36%	51.50%	+15.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.28%	68.84%	+0.44%

URTY vs. ERX - Expense Ratio Comparison

URTY has a 0.95% expense ratio, which is higher than ERX's 0.91% expense ratio.

Dividends

URTY vs. ERX - Dividend Comparison

URTY's dividend yield for the trailing twelve months is around 0.76%, less than ERX's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ERX Direxion Daily Energy Bull 2X Shares	1.53%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%	0.00%
URTY ProShares UltraPro Russell2000	0.76%	1.02%	1.16%	0.55%	0.28%	0.00%	0.00%	0.18%	0.28%	0.00%	0.03%

Frequently Asked Questions

Can I hold both URTY and ERX in my portfolio?

URTY and ERX have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URTY or ERX?

URTY has higher volatility (12.57%) compared to ERX (12.43%). In terms of maximum drawdown, URTY dropped -88.09% vs ERX's -99.54%.

Which ETF is better, URTY or ERX?

On 10-year performance, URTY leads with 6.75% vs -9.07% for ERX. On fees, ERX is cheaper at 0.91% per year. On volatility, ERX has been the lower-risk option at 12.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URTY or ERX?

Over the 10-year period, URTY has performed better with a 6.75% return vs -9.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URTY or ERX?

ERX is cheaper with a 0.91% expense ratio, compared with 0.95% for URTY.

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

ERX has the higher dividend yield at 1.53%, compared with 0.76% for URTY.

What is the main difference between URTY and ERX?

URTY is categorized as Leveraged Equities, while ERX is Energy Equities. URTY tracks Russell 2000 Index (300%), while ERX tracks Energy Select Sector Index (200%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for URTY and 0.91% for ERX.

Which has better risk-adjusted returns?

URTY currently has the higher Sharpe Ratio (2.06 vs 1.93), 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.