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 -36.70%/yr vs 28.75%/yr for ERX. At a correlation of -0.18, they often move in opposite directions. WEBS charges 1.07%/yr vs 1.09%/yr for ERX.
Performance
WEBS vs. ERX - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a -16.82% return, which is significantly lower than ERX's 66.93% return.
WEBS
- 1D
- 5.89%
- 1M
- -13.46%
- YTD
- -16.82%
- 6M
- -14.14%
- 1Y
- -30.71%
- 3Y*
- -49.47%
- 5Y*
- -36.70%
- 10Y*
- —
ERX
- 1D
- 2.68%
- 1M
- -3.38%
- YTD
- 66.93%
- 6M
- 59.74%
- 1Y
- 90.37%
- 3Y*
- 23.69%
- 5Y*
- 28.75%
- 10Y*
- -8.79%
WEBS vs. ERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -16.82% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -13.16% |
ERX Direxion Daily Energy Bull 2X Shares | 66.93% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -91.60% | 5.82% |
Correlation
The correlation between WEBS and ERX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | -0.18 |
The correlation between WEBS and ERX shifts across timeframes, from -0.18 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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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.
| WEBS | ERX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.54 | 2.21 | -2.75 |
Sortino ratioReturn per unit of downside risk | -0.52 | 2.62 | -3.14 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.32 | -0.38 |
Calmar ratioReturn relative to maximum drawdown | -0.58 | 3.89 | -4.47 |
Martin ratioReturn relative to average drawdown | -1.33 | 10.60 | -11.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WEBS | ERX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | 2.21 | -2.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 0.56 | -1.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.13 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | -0.09 | -0.50 |
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.
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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% | -23.34% | -30.20% |
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 | -99.60% | -91.57% | -8.03% |
Average DrawdownAverage peak-to-trough decline | -91.09% | -67.02% | -24.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.19% | 8.57% | +14.62% |
Volatility
WEBS vs. ERX - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) and Direxion Daily Energy Bull 2X Shares (ERX) have volatilities of 15.72% and 16.49%, 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.
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Volatility by Period
| WEBS | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.72% | 16.49% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 43.46% | 33.45% | +10.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.60% | 41.14% | +16.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.81% | 51.98% | +29.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.84% | 69.18% | +20.66% |
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 3.92%, more than ERX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 1.61% | 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 | 3.92% | 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 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERX has higher volatility (16.49%) compared to WEBS (15.72%). In terms of maximum drawdown, WEBS dropped -99.63% vs ERX's -99.54%.
On 5-year performance, ERX leads with 28.75% vs -36.70% for WEBS. On fees, WEBS is cheaper at 1.07% per year. On volatility, WEBS has been the lower-risk option at 15.72%. 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 28.75% return vs -36.70%. 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 3.92%, compared with 1.61% 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 (2.21 vs -0.54), 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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