WTID vs. ERX

Last updated Aug 4, 2026

WTID (MicroSectors Energy -3X Inverse Leveraged ETN) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - WTID is a Inverse Equities fund tracking the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%), while ERX is a Energy Equities fund tracking the Energy Select Sector Index (200%). Both are passively managed. Over the past 3 years, WTID returned -45.60%/yr vs 16.84%/yr for ERX. Their -0.97 correlation means they have often moved in opposite directions in the past. WTID charges 0.95%/yr vs 0.91%/yr for ERX.

Performance

WTID vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Energy -3X Inverse Leveraged ETN (WTID) 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, WTID achieves a -67.32% return, which is significantly lower than ERX's 66.56% return.

WTID

• 1D: 4.70%
• 1M: -32.80%
• 6M: -56.78%
• YTD: -67.32%
• 1Y: -74.04%
• 3Y*: -45.60%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -43.47%

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
WTID MicroSectors Energy -3X Inverse Leveraged ETN	$198.95K	$195.92K	$630.81K

WTID vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WTID MicroSectors Energy -3X Inverse Leveraged ETN	-67.32%	-44.50%	-7.93%	-16.93%
ERX Direxion Daily Energy Bull 2X Shares	66.56%	2.79%	1.09%	-15.80%

Correlation

The correlation between WTID and ERX is -0.96, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.96
Correlation (3Y) Balances recent behavior with more history.	-0.97
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023	-0.97

The correlation between WTID and ERX has been stable across timeframes, ranging from -0.97 to -0.96 - a consistent structural relationship.

WTID vs. ERX - Sectors Allocation Comparison

Sectors	WTID	ERX
Energy	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

WTID vs. ERX — Risk / Return Rank

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

WTID

WTID Risk / Return Rank: 1
WTID Sharpe Ratio Rank: 1
WTID Sortino Ratio Rank: 0
WTID Omega Ratio Rank: 1
WTID Calmar Ratio Rank: 1
WTID Martin Ratio Rank: 1

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.

WTID vs. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Energy -3X Inverse Leveraged ETN (WTID) 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.

	WTID	ERX	Difference
Sharpe ratio: Return per unit of total volatility	-1.07	1.93	-3.01
Sortino ratio: Return per unit of downside risk	-2.20	2.36	-4.56
Omega ratio: Gain probability vs. loss probability	0.77	1.29	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.98	2.72	-3.70
Martin ratio: Return relative to average drawdown	-1.49	6.90	-8.39

WTID vs. ERX - Sharpe Ratio Comparison

The current WTID Sharpe Ratio is -1.07, which is lower than the ERX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of WTID 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

WTID vs. ERX - Drawdown Comparison

The maximum WTID drawdown since its inception was -90.80%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for WTID and ERX.

Drawdown Indicators

	WTID	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-90.80%	-99.54%	+8.74%
Max Drawdown (1Y) Largest decline over 1 year	-76.06%	-29.97%	-46.09%
Max Drawdown (3Y) Largest decline over 3 years	-86.73%	-42.34%	-44.39%
Max Drawdown (5Y) Largest decline over 5 years	—	-46.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.59%	—
Current Drawdown Current decline from peak	-90.37%	-91.59%	+1.22%
Average Drawdown Average peak-to-trough decline	-55.96%	-67.25%	+11.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.62%	11.81%	+37.81%

Volatility

WTID vs. ERX - Volatility Comparison

MicroSectors Energy -3X Inverse Leveraged ETN (WTID) has a higher volatility of 23.44% compared to Direxion Daily Energy Bull 2X Shares (ERX) at 12.43%. This indicates that WTID'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.

Volatility by Period

	WTID	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.44%	12.43%	+11.01%
Volatility (6M) Calculated over the trailing 6-month period	56.62%	33.84%	+22.78%
Volatility (1Y) Calculated over the trailing 1-year period	69.15%	42.28%	+26.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.60%	51.50%	+19.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.60%	68.84%	+1.76%

WTID vs. ERX - Expense Ratio Comparison

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

Dividends

WTID vs. ERX - Dividend Comparison

WTID has not paid dividends to shareholders, while ERX's dividend yield for the trailing twelve months is around 1.53%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
WTID MicroSectors Energy -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WTID and ERX in my portfolio?

WTID and ERX have a correlation of -0.96, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WTID or ERX?

WTID has higher volatility (23.44%) compared to ERX (12.43%). In terms of maximum drawdown, WTID dropped -90.80% vs ERX's -99.54%.

Which ETF is better, WTID or ERX?

On 3-year performance, ERX leads with 16.84% vs -45.60% for WTID. 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, WTID or ERX?

Over the 3-year period, ERX has performed better with a 16.84% return vs -45.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTID or ERX?

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

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

ERX has the higher dividend yield at 1.53%, compared with 0.00% for WTID.

What is the main difference between WTID and ERX?

WTID is categorized as Inverse Equities, while ERX is Energy Equities. WTID tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%), while ERX tracks Energy Select Sector Index (200%). They also come from different issuers: REX and Direxion. Their fees differ too: 0.95% for WTID and 0.91% for ERX.

Which has better risk-adjusted returns?

ERX currently has the higher Sharpe Ratio (1.93 vs -1.07), 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.