ZIVB vs. BRKD

Last updated Jul 29, 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*: —
• ALL TIME*: —

BRKD

• 1D: 0.00%
• 1M: 0.00%
• 6M: -0.35%
• YTD: 5.90%
• 1Y: 3.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.60%

*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)
BRKD Direxion Daily BRKB Bear 1X Shares	$0.00	$0.00	$0.00
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	$0.00	$0.00	$0.00

ZIVB vs. BRKD - Yearly Performance Comparison

	2026 (YTD)
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	36.51%
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: 16
BRKD Sharpe Ratio Rank: 17
BRKD Sortino Ratio Rank: 16
BRKD Omega Ratio Rank: 17
BRKD Calmar Ratio Rank: 17
BRKD Martin Ratio Rank: 16

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	—	0.29	—
Sortino ratio: Return per unit of downside risk	—	0.52	—
Omega ratio: Gain probability vs. loss probability	—	1.07	—
Calmar ratio: Return relative to maximum drawdown	—	0.38	—
Martin ratio: Return relative to average drawdown	—	0.73	—

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%	-7.35%	+7.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.83%	—

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	—	8.04%	—
Volatility (1Y) Calculated over the trailing 1-year period	73.98%	12.30%	+61.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.98%	16.43%	+57.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.98%	16.43%	+57.55%

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 4.73%, 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	4.73%	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 4.73%, 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.