WEBL vs. WEBS

Last updated Jun 3, 2026

WEBL (Daily Dow Jones Internet Bull 3X Shares) and WEBS (Daily Dow Jones Internet Bear 3X Shares) are both Leveraged Equities funds from Direxion tracking the Dow Jones Internet Composite Index (300%). Both are passively managed. Over the past 5 years, WEBL returned -14.83%/yr vs -38.11%/yr for WEBS. At a correlation of -0.99, they often move in opposite directions. WEBL charges 1.17%/yr vs 1.07%/yr for WEBS.

Performance

WEBL vs. WEBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Daily Dow Jones Internet Bull 3X Shares (WEBL) and Daily Dow Jones Internet Bear 3X Shares (WEBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEBL achieves a 8.76% return, which is significantly higher than WEBS's -21.45% return.

WEBL

• 1D: -3.91%
• 1M: 22.49%
• YTD: 8.76%
• 6M: 4.92%
• 1Y: 17.72%
• 3Y*: 39.89%
• 5Y*: -14.83%
• 10Y*: —

WEBS

• 1D: 4.02%
• 1M: -19.57%
• YTD: -21.45%
• 6M: -18.76%
• 1Y: -35.37%
• 3Y*: -50.43%
• 5Y*: -38.11%
• 10Y*: —

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

WEBL vs. WEBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
WEBL Daily Dow Jones Internet Bull 3X Shares	8.76%	2.37%	76.78%	165.50%	-91.04%	2.73%	132.56%	13.47%
WEBS Daily Dow Jones Internet Bear 3X Shares	-21.45%	-40.66%	-56.62%	-75.58%	117.15%	-39.82%	-87.18%	-13.16%

Correlation

The correlation between WEBL and WEBS is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-1.00
Correlation (3Y) Calculated over the trailing 3-year period	-1.00
Correlation (5Y) Calculated over the trailing 5-year period	-1.00
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019	-0.99

The correlation between WEBL and WEBS has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.

Return for Risk

WEBL vs. WEBS — Risk / Return Rank

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

WEBL

WEBL Risk / Return Rank: 14
WEBL Sharpe Ratio Rank: 13
WEBL Sortino Ratio Rank: 16
WEBL Omega Ratio Rank: 16
WEBL Calmar Ratio Rank: 13
WEBL Martin Ratio Rank: 12

WEBS

WEBS Risk / Return Rank: 3
WEBS Sharpe Ratio Rank: 4
WEBS Sortino Ratio Rank: 4
WEBS Omega Ratio Rank: 4
WEBS Calmar Ratio Rank: 3
WEBS Martin Ratio Rank: 1

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.

WEBL vs. WEBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bull 3X Shares (WEBL) and Daily Dow Jones Internet Bear 3X Shares (WEBS). 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.

	WEBL	WEBS	Difference
Sharpe ratio Return per unit of total volatility	0.32	-0.62	+0.94
Sortino ratio Return per unit of downside risk	0.79	-0.70	+1.49
Omega ratio Gain probability vs. loss probability	1.10	0.92	+0.17
Calmar ratio Return relative to maximum drawdown	0.37	-0.69	+1.06
Martin ratio Return relative to average drawdown	0.81	-1.60	+2.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WEBL vs. WEBS - Sharpe Ratio Comparison

The current WEBL Sharpe Ratio is 0.32, which is higher than the WEBS Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of WEBL and WEBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WEBL	WEBS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	-0.62	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	-0.47	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	-0.59	+0.63

Drawdowns

WEBL vs. WEBS - Drawdown Comparison

The maximum WEBL drawdown since its inception was -94.44%, smaller than the maximum WEBS drawdown of -99.63%. Use the drawdown chart below to compare losses from any high point for WEBL and WEBS.

Drawdown Indicators

	WEBL	WEBS	Difference
Max Drawdown Largest peak-to-trough decline	-94.44%	-99.63%	+5.19%
Max Drawdown (1Y) Largest decline over 1 year	-56.57%	-53.54%	-3.03%
Max Drawdown (3Y) Largest decline over 3 years	-60.82%	-90.33%	+29.51%
Max Drawdown (5Y) Largest decline over 5 years	-94.44%	-97.09%	+2.65%
Current Drawdown Current decline from peak	-67.99%	-99.62%	+31.63%
Average Drawdown Average peak-to-trough decline	-58.86%	-91.09%	+32.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.95%	23.08%	+2.87%

Volatility

WEBL vs. WEBS - Volatility Comparison

Daily Dow Jones Internet Bull 3X Shares (WEBL) and Daily Dow Jones Internet Bear 3X Shares (WEBS) have volatilities of 13.79% and 14.22%, 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

	WEBL	WEBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.79%	14.22%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	42.99%	43.06%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	56.36%	57.33%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.65%	81.78%	-1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.87%	89.84%	-6.97%

WEBL vs. WEBS - Expense Ratio Comparison

WEBL has a 1.17% expense ratio, which is higher than WEBS's 1.07% expense ratio.

Dividends

WEBL vs. WEBS - Dividend Comparison

WEBL's dividend yield for the trailing twelve months is around 0.18%, less than WEBS's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
WEBL Daily Dow Jones Internet Bull 3X Shares	0.18%	0.25%	0.00%	0.00%	0.00%	4.79%	0.00%	0.06%
WEBS Daily Dow Jones Internet Bear 3X Shares	4.16%	3.77%	8.02%	8.51%	0.20%	0.00%	1.11%	0.11%

Frequently Asked Questions

Can I hold both WEBL and WEBS in my portfolio?

WEBL and WEBS have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WEBL or WEBS?

WEBS has higher volatility (14.22%) compared to WEBL (13.79%). In terms of maximum drawdown, WEBL dropped -94.44% vs WEBS's -99.63%.

Which ETF is better, WEBL or WEBS?

On 5-year performance, WEBL leads with -14.83% vs -38.11% for WEBS. On fees, WEBS is cheaper at 1.07% per year. On volatility, WEBL has been the lower-risk option at 13.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WEBL or WEBS?

Over the 5-year period, WEBL has performed better with a -14.83% return vs -38.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WEBL or WEBS?

WEBS is cheaper with a 1.07% expense ratio, compared with 1.17% for WEBL.

Which ETF pays a higher dividend yield, WEBL or WEBS?

WEBS has the higher dividend yield at 4.16%, compared with 0.18% for WEBL.

What is the main difference between WEBL and WEBS?

Both ETFs track Dow Jones Internet Composite Index (300%). Their fees differ too: 1.17% for WEBL and 1.07% for WEBS.

Which has better risk-adjusted returns?

WEBL currently has the higher Sharpe Ratio (0.32 vs -0.62), 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.