WEBS vs. ERX
WEBS (Daily Dow Jones Internet Bear 3X Shares) and ERX (Direxion Daily Energy Bull 2X Shares) are both Leveraged Equities funds from Direxion - WEBS tracks the Dow Jones Internet Composite Index (300%) while ERX tracks the Energy Select Sector Index (300%). Both are passively managed. Over the past 5 years, WEBS returned -30.51%/yr vs 24.74%/yr for ERX. At a correlation of -0.17, they often move in opposite directions. WEBS charges 1.07%/yr vs 1.09%/yr for ERX.
Performance
WEBS vs. ERX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WEBS achieves a 8.23% return, which is significantly lower than ERX's 42.50% return.
WEBS
- 1D
- 4.12%
- 1M
- 20.33%
- YTD
- 8.23%
- 6M
- 12.06%
- 1Y
- -3.46%
- 3Y*
- -45.46%
- 5Y*
- -30.51%
- 10Y*
- —
ERX
- 1D
- 1.86%
- 1M
- -12.34%
- YTD
- 42.50%
- 6M
- 44.57%
- 1Y
- 57.63%
- 3Y*
- 18.03%
- 5Y*
- 24.74%
- 10Y*
- -9.47%
WEBS vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | 8.23% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
ERX Direxion Daily Energy Bull 2X Shares | 42.50% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -91.60% | 10.47% |
Correlation
The correlation between WEBS and ERX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | -0.17 |
The correlation between WEBS and ERX shifts across timeframes, from -0.17 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WEBS vs. ERX — Risk / Return Rank
WEBS
ERX
WEBS vs. ERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) 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.
| WEBS | ERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.23 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 2.03 | -2.10 |
| Martin ratioReturn relative to average drawdown | -0.16 | 5.74 | -5.90 |
Loading charts...
Drawdowns
WEBS vs. ERX - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, roughly equal to the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for WEBS and ERX.
Loading charts...
Drawdown Indicators
| WEBS | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -99.54% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -28.49% | -25.05% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -42.34% | -47.99% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -46.90% | -50.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -98.59% | — |
Current DrawdownCurrent decline from peak | -99.48% | -92.81% | -6.67% |
Average DrawdownAverage peak-to-trough decline | -91.11% | -67.10% | -24.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.78% | 10.06% | +12.72% |
Volatility
WEBS vs. ERX - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) has a higher volatility of 22.31% compared to Direxion Daily Energy Bull 2X Shares (ERX) at 13.95%. This indicates that WEBS's price experiences larger fluctuations and is considered to be riskier than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WEBS | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.31% | 13.95% | +8.36% |
Volatility (6M)Calculated over the trailing 6-month period | 46.50% | 34.17% | +12.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.59% | 41.76% | +17.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.14% | 51.94% | +30.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.73% | 69.06% | +20.67% |
WEBS vs. ERX - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is lower than ERX's 1.09% expense ratio.
Dividends
WEBS vs. ERX - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 2.53%, more than ERX's 1.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.79% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 2.53% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% | 0.00% | 0.00% |
Frequently Asked Questions
WEBS and ERX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEBS has higher volatility (22.31%) compared to ERX (13.95%). In terms of maximum drawdown, WEBS dropped -99.63% vs ERX's -99.54%.
On 5-year performance, ERX leads with 24.74% vs -30.51% for WEBS. On fees, WEBS is cheaper at 1.07% per year. On volatility, ERX has been the lower-risk option at 13.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ERX has performed better with a 24.74% return vs -30.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WEBS is cheaper with a 1.07% expense ratio, compared with 1.09% for ERX.
WEBS has the higher dividend yield at 2.53%, compared with 1.79% for ERX.
WEBS tracks Dow Jones Internet Composite Index (300%), while ERX tracks Energy Select Sector Index (300%). Their fees differ too: 1.07% for WEBS and 1.09% for ERX.
ERX currently has the higher Sharpe Ratio (1.39 vs -0.06), 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.
Find the right allocation for WEBS and ERX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer