XXXX vs. SKRE

Last updated Jul 17, 2026

XXXX (MAX S&P 500 4X Leveraged ETN) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both exchange-traded funds - XXXX is a Leveraged Equities fund tracking the S&P 500 Index (400%), while SKRE is a Inverse Equities fund tracking the S&P Regional Banks Select Industry. Both are passively managed. Over the past year, XXXX returned 51.18% vs -46.37% for SKRE. At a correlation of -0.48, they often move in opposite directions. XXXX charges 2.95%/yr vs 0.75%/yr for SKRE.

Performance

XXXX vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX S&P 500 4X Leveraged ETN (XXXX) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XXXX achieves a 22.43% return, which is significantly higher than SKRE's -36.29% return.

XXXX

• 1D: -2.13%
• 1M: -1.38%
• 6M: 16.54%
• YTD: 22.43%
• 1Y: 51.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SKRE

• 1D: -5.25%
• 1M: -14.79%
• 6M: -29.24%
• YTD: -36.29%
• 1Y: -46.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XXXX vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XXXX MAX S&P 500 4X Leveraged ETN	22.43%	17.36%	71.17%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-36.29%	-31.29%	-44.47%

Correlation

The correlation between XXXX and SKRE is -0.41, 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	-0.41
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024	-0.48

Return for Risk

XXXX vs. SKRE — Risk / Return Rank

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

XXXX

XXXX Risk / Return Rank: 35
XXXX Sharpe Ratio Rank: 35
XXXX Sortino Ratio Rank: 35
XXXX Omega Ratio Rank: 35
XXXX Calmar Ratio Rank: 33
XXXX Martin Ratio Rank: 39

SKRE

SKRE Risk / Return Rank: 1
SKRE Sharpe Ratio Rank: 2
SKRE Sortino Ratio Rank: 2
SKRE Omega Ratio Rank: 2
SKRE Calmar Ratio Rank: 1
SKRE Martin Ratio Rank: 0

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.

XXXX vs. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX S&P 500 4X Leveraged ETN (XXXX) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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.

	XXXX	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	1.04	-1.01	+2.04
Sortino ratio: Return per unit of downside risk	1.55	-1.55	+3.10
Omega ratio: Gain probability vs. loss probability	1.20	0.82	+0.38
Calmar ratio: Return relative to maximum drawdown	1.38	-0.90	+2.28
Martin ratio: Return relative to average drawdown	4.97	-1.61	+6.58

XXXX vs. SKRE - Sharpe Ratio Comparison

The current XXXX Sharpe Ratio is 1.04, which is higher than the SKRE Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of XXXX and SKRE, 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

XXXX vs. SKRE - Drawdown Comparison

The maximum XXXX drawdown since its inception was -62.27%, smaller than the maximum SKRE drawdown of -79.33%. Use the drawdown chart below to compare losses from any high point for XXXX and SKRE.

Drawdown Indicators

	XXXX	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-62.27%	-79.33%	+17.06%
Max Drawdown (1Y) Largest decline over 1 year	-37.25%	-51.44%	+14.19%
Current Drawdown Current decline from peak	-8.05%	-79.33%	+71.28%
Average Drawdown Average peak-to-trough decline	-11.51%	-48.53%	+37.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.33%	28.81%	-18.48%

Volatility

XXXX vs. SKRE - Volatility Comparison

MAX S&P 500 4X Leveraged ETN (XXXX) has a higher volatility of 13.67% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 11.56%. This indicates that XXXX's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XXXX	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.67%	11.56%	+2.11%
Volatility (6M) Calculated over the trailing 6-month period	39.78%	32.58%	+7.20%
Volatility (1Y) Calculated over the trailing 1-year period	49.68%	46.09%	+3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.73%	55.12%	+5.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.73%	55.12%	+5.61%

XXXX vs. SKRE - Expense Ratio Comparison

XXXX has a 2.95% expense ratio, which is higher than SKRE's 0.75% expense ratio.

Dividends

XXXX vs. SKRE - Dividend Comparison

XXXX has not paid dividends to shareholders, while SKRE's dividend yield for the trailing twelve months is around 0.40%.

Position	TTM	2025	2024
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.40%	0.26%	3.16%
XXXX MAX S&P 500 4X Leveraged ETN	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XXXX and SKRE in my portfolio?

XXXX and SKRE have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XXXX or SKRE?

XXXX has higher volatility (13.67%) compared to SKRE (11.56%). In terms of maximum drawdown, XXXX dropped -62.27% vs SKRE's -79.33%.

Which ETF is better, XXXX or SKRE?

On 1-year performance, XXXX leads with 51.18% vs -46.37% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 11.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XXXX or SKRE?

Over the 1-year period, XXXX has performed better with a 51.18% return vs -46.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XXXX or SKRE?

SKRE is cheaper with a 0.75% expense ratio, compared with 2.95% for XXXX.

Which ETF pays a higher dividend yield, XXXX or SKRE?

SKRE has the higher dividend yield at 0.40%, compared with 0.00% for XXXX.

What is the main difference between XXXX and SKRE?

XXXX is categorized as Leveraged Equities, while SKRE is Inverse Equities. XXXX tracks S&P 500 Index (400%), while SKRE tracks S&P Regional Banks Select Industry. They also come from different issuers: Max and Tuttle. Their fees differ too: 2.95% for XXXX and 0.75% for SKRE.

Which has better risk-adjusted returns?

XXXX currently has the higher Sharpe Ratio (1.04 vs -1.01), 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.