ZIVB vs. BRKD

Last updated Jul 9, 2026

ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) and BRKD (Direxion Daily BRKB Bear 1X Shares) are both Inverse Equities funds. ZIVB is actively managed, while BRKD is passively managed. ZIVB charges 1.35%/yr vs 1.00%/yr for BRKD.

Performance

ZIVB vs. BRKD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB) and Direxion Daily BRKB Bear 1X Shares (BRKD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZIVB

• 1D: 0.00%
• 1M: 2.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BRKD

• 1D: 0.00%
• 1M: 0.00%
• 6M: 5.12%
• YTD: 5.90%
• 1Y: 3.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZIVB vs. BRKD - Yearly Performance Comparison

	2026 (YTD)
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	33.28%
BRKD Direxion Daily BRKB Bear 1X Shares	0.00%

Return for Risk

ZIVB vs. BRKD — Risk / Return Rank

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

ZIVB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BRKD

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

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.

ZIVB vs. BRKD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB) and Direxion Daily BRKB Bear 1X Shares (BRKD). 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.

	ZIVB	BRKD	Difference
Sharpe ratio: Return per unit of total volatility	—	0.25	—
Sortino ratio: Return per unit of downside risk	—	0.46	—
Omega ratio: Gain probability vs. loss probability	—	1.06	—
Calmar ratio: Return relative to maximum drawdown	—	0.33	—
Martin ratio: Return relative to average drawdown	—	0.64	—

Drawdowns

ZIVB vs. BRKD - Drawdown Comparison

The maximum ZIVB drawdown since its inception was 0.00%, smaller than the maximum BRKD drawdown of -17.92%. Use the drawdown chart below to compare losses from any high point for ZIVB and BRKD.

Drawdown Indicators

	ZIVB	BRKD	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-17.92%	+17.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.34%	—
Current Drawdown Current decline from peak	0.00%	-3.69%	+3.69%
Average Drawdown Average peak-to-trough decline	0.00%	-7.49%	+7.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.82%	—

Volatility

Volatility by Period

	ZIVB	BRKD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	90.41%	12.60%	+77.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.41%	16.74%	+73.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.41%	16.74%	+73.67%

ZIVB vs. BRKD - Expense Ratio Comparison

ZIVB has a 1.35% expense ratio, which is higher than BRKD's 1.00% expense ratio.

Dividends

ZIVB vs. BRKD - Dividend Comparison

ZIVB's dividend yield for the trailing twelve months is around 2.37%, more than BRKD's 1.91% yield.

Position	TTM	2025
BRKD Direxion Daily BRKB Bear 1X Shares	1.91%	3.50%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	2.37%	0.00%

Frequently Asked Questions

Which ETF is better, ZIVB or BRKD?

On fees, BRKD is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZIVB or BRKD?

BRKD is cheaper with a 1.00% expense ratio, compared with 1.35% for ZIVB.

Which ETF pays a higher dividend yield, ZIVB or BRKD?

ZIVB has the higher dividend yield at 2.37%, compared with 1.91% for BRKD.

What is the main difference between ZIVB and BRKD?

They also come from different issuers: Volatility Shares and Direxion. Their fees differ too: 1.35% for ZIVB and 1.00% for BRKD.