WDH vs. DFEN
WDH (Waterdrop 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 5 years, WDH returned -27.68%/yr vs 30.03%/yr for DFEN. At a 0.17 correlation, their price movements are largely independent.
Performance
WDH vs. DFEN - Performance Comparison
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Returns By Period
In the year-to-date period, WDH achieves a -36.24% return, which is significantly lower than DFEN's 15.64% return.
WDH
- 1D
- -0.83%
- 1M
- -17.36%
- YTD
- -36.24%
- 6M
- -35.90%
- 1Y
- -15.09%
- 3Y*
- -18.54%
- 5Y*
- -27.68%
- 10Y*
- —
DFEN
- 1D
- 0.49%
- 1M
- 11.93%
- YTD
- 15.64%
- 6M
- 7.44%
- 1Y
- 71.10%
- 3Y*
- 68.88%
- 5Y*
- 30.03%
- 10Y*
- —
WDH vs. DFEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WDH Waterdrop Inc. | -36.24% | 66.25% | 19.17% | -68.77% | 141.30% | -86.54% |
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 15.64% | 156.62% | 27.07% | 24.70% | 6.99% | -15.18% |
Correlation
The correlation between WDH and DFEN is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 7, 2021 | 0.17 |
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Return for Risk
WDH vs. DFEN — Risk / Return Rank
WDH
DFEN
WDH vs. DFEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waterdrop Inc. (WDH) 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.
| WDH | DFEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.98 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.20 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 1.71 | -2.09 |
| Martin ratioReturn relative to average drawdown | -1.02 | 3.90 | -4.92 |
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Drawdowns
WDH vs. DFEN - Drawdown Comparison
The maximum WDH drawdown since its inception was -91.12%, roughly equal to the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for WDH and DFEN.
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Drawdown Indicators
| WDH | DFEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.12% | -91.36% | +0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -39.65% | -41.75% | +2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -60.91% | -43.13% | -17.78% |
Max Drawdown (5Y)Largest decline over 5 years | -86.25% | -55.30% | -30.95% |
Current DrawdownCurrent decline from peak | -87.18% | -24.22% | -62.96% |
Average DrawdownAverage peak-to-trough decline | -81.17% | -45.13% | -36.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.87% | 18.29% | -3.42% |
Volatility
WDH vs. DFEN - Volatility Comparison
The current volatility for Waterdrop Inc. (WDH) is 15.86%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 25.03%. This indicates that WDH 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
| WDH | DFEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.86% | 25.03% | -9.17% |
Volatility (6M)Calculated over the trailing 6-month period | 25.13% | 55.87% | -30.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.49% | 66.30% | -20.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.86% | 60.78% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.77% | 71.63% | -8.86% |
Dividends
WDH vs. DFEN - Dividend Comparison
WDH's dividend yield for the trailing twelve months is around 5.04%, less than DFEN's 7.72% yield.
| 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% |
WDH Waterdrop Inc. | 5.04% | 2.63% | 5.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WDH and DFEN have a correlation of 0.23, 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 WDH (15.86%). In terms of maximum drawdown, WDH dropped -91.12% vs DFEN's -91.36%.
DFEN currently has the higher Sharpe Ratio (1.08 vs -0.33), 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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