XHB vs. NAIL

Last updated Aug 2, 2026

XHB (SPDR S&P Homebuilders ETF) and NAIL (Direxion Daily Homebuilders & Supplies Bull 3X ETF) are both Building & Construction funds - XHB tracks the S&P Homebuilders Select Industry Index while NAIL tracks the Dow Jones U.S. Select Home Construction Index. Both are passively managed. Over the past 10 years, XHB returned 12.21%/yr vs 2.80%/yr for NAIL. Their correlation of 0.92 means they have usually moved in the same direction. XHB charges 0.35%/yr vs 0.96%/yr for NAIL.

Performance

XHB vs. NAIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Homebuilders ETF (XHB) and Direxion Daily Homebuilders & Supplies Bull 3X ETF (NAIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XHB achieves a 1.01% return, which is significantly higher than NAIL's -25.11% return. Over the past 10 years, XHB has outperformed NAIL with an annualized return of 12.21%, while NAIL has yielded a comparatively lower 2.80% annualized return.

XHB

• 1D: -0.79%
• 1M: -7.88%
• 6M: -4.06%
• YTD: 1.01%
• 1Y: 0.45%
• 3Y*: 7.59%
• 5Y*: 7.43%
• 10Y*: 12.21%
• ALL TIME*: 5.06%

NAIL

• 1D: -3.77%
• 1M: -24.78%
• 6M: -35.02%
• YTD: -25.11%
• 1Y: -40.69%
• 3Y*: -23.69%
• 5Y*: -14.77%
• 10Y*: 2.80%
• ALL TIME*: -0.25%

*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)
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF	$44.87M	$43.82M	$62.70M
XHB SPDR S&P Homebuilders ETF	$247.88M	$253.08M	$291.07M

XHB vs. NAIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XHB SPDR S&P Homebuilders ETF	1.01%	-0.69%	9.87%	60.10%	-28.93%	49.70%	27.97%	41.30%	-25.73%	31.80%
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF	-25.11%	-40.43%	-22.83%	259.61%	-75.23%	168.20%	-32.08%	184.63%	-73.96%	268.71%

Correlation

The correlation between XHB and NAIL is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	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 (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015	0.92

The correlation between XHB and NAIL has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

XHB vs. NAIL - Sectors Allocation Comparison

Sectors	XHB	NAIL
Consumer Cyclical	60.4%	71.9%
Industrials	38.2%	19.0%
Basic Materials	14.4%	8.4%
Consumer Defensive	3.5%	-
Real Estate	1.3%	0.7%
Communication Services	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XHB vs. NAIL — Risk / Return Rank

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

XHB

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

NAIL

NAIL Risk / Return Rank: 6
NAIL Sharpe Ratio Rank: 6
NAIL Sortino Ratio Rank: 8
NAIL Omega Ratio Rank: 8
NAIL Calmar Ratio Rank: 5
NAIL Martin Ratio Rank: 6

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.

XHB vs. NAIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Homebuilders ETF (XHB) and Direxion Daily Homebuilders & Supplies Bull 3X ETF (NAIL). 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.

	XHB	NAIL	Difference
Sharpe ratio: Return per unit of total volatility	0.08	-0.41	+0.49
Sortino ratio: Return per unit of downside risk	0.35	-0.12	+0.47
Omega ratio: Gain probability vs. loss probability	1.04	0.99	+0.05
Calmar ratio: Return relative to maximum drawdown	0.11	-0.53	+0.64
Martin ratio: Return relative to average drawdown	0.21	-0.82	+1.03

XHB vs. NAIL - Sharpe Ratio Comparison

The current XHB Sharpe Ratio is 0.08, which is higher than the NAIL Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of XHB and NAIL, 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

XHB vs. NAIL - Drawdown Comparison

The maximum XHB drawdown since its inception was -81.61%, smaller than the maximum NAIL drawdown of -93.75%. Use the drawdown chart below to compare losses from any high point for XHB and NAIL.

Drawdown Indicators

	XHB	NAIL	Difference
Max Drawdown Largest peak-to-trough decline	-81.61%	-93.75%	+12.14%
Max Drawdown (1Y) Largest decline over 1 year	-21.71%	-67.85%	+46.14%
Max Drawdown (3Y) Largest decline over 3 years	-30.53%	-82.09%	+51.56%
Max Drawdown (5Y) Largest decline over 5 years	-39.46%	-84.40%	+44.94%
Max Drawdown (10Y) Largest decline over 10 years	-49.57%	-93.75%	+44.18%
Current Drawdown Current decline from peak	-16.36%	-78.60%	+62.24%
Average Drawdown Average peak-to-trough decline	-27.48%	-44.24%	+16.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.08%	43.97%	-32.89%

Volatility

XHB vs. NAIL - Volatility Comparison

The current volatility for SPDR S&P Homebuilders ETF (XHB) is 7.68%, while Direxion Daily Homebuilders & Supplies Bull 3X ETF (NAIL) has a volatility of 26.41%. This indicates that XHB experiences smaller price fluctuations and is considered to be less risky than NAIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHB	NAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.68%	26.41%	-18.73%
Volatility (6M) Calculated over the trailing 6-month period	21.65%	65.39%	-43.74%
Volatility (1Y) Calculated over the trailing 1-year period	28.26%	87.99%	-59.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.00%	88.09%	-60.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.59%	89.81%	-62.22%

XHB vs. NAIL - Expense Ratio Comparison

XHB has a 0.35% expense ratio, which is lower than NAIL's 0.96% expense ratio.

Dividends

XHB vs. NAIL - Dividend Comparison

XHB's dividend yield for the trailing twelve months is around 0.63%, less than NAIL's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NAIL Direxion Daily Homebuilders & Supplies Bull 3X ETF	0.83%	1.55%	0.63%	0.22%	0.00%	0.00%	0.01%	0.17%	0.35%	1.25%	0.00%	0.00%
XHB SPDR S&P Homebuilders ETF	0.63%	0.78%	0.59%	0.77%	1.06%	0.51%	0.73%	0.89%	1.25%	0.72%	0.67%	0.50%

Frequently Asked Questions

Can I hold both XHB and NAIL in my portfolio?

With a correlation of 0.96, XHB and NAIL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XHB or NAIL?

NAIL has higher volatility (26.41%) compared to XHB (7.68%). In terms of maximum drawdown, XHB dropped -81.61% vs NAIL's -93.75%.

Which ETF is better, XHB or NAIL?

On 10-year performance, XHB leads with 12.21% vs 2.80% for NAIL. On fees, XHB is cheaper at 0.35% per year. On volatility, XHB has been the lower-risk option at 7.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XHB or NAIL?

Over the 10-year period, XHB has performed better with a 12.21% return vs 2.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XHB or NAIL?

XHB is cheaper with a 0.35% expense ratio, compared with 0.96% for NAIL.

Which ETF pays a higher dividend yield, XHB or NAIL?

NAIL has the higher dividend yield at 0.83%, compared with 0.63% for XHB.

What is the main difference between XHB and NAIL?

XHB tracks S&P Homebuilders Select Industry Index, while NAIL tracks Dow Jones U.S. Select Home Construction Index. They also come from different issuers: State Street and Direxion. Their fees differ too: 0.35% for XHB and 0.96% for NAIL.

Which has better risk-adjusted returns?

XHB currently has the higher Sharpe Ratio (0.08 vs -0.41), 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.