Direxion Daily Energy Bear 2X ETF
CThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
The ETF.net ERY Grade
C
Score 43 out of 100
- 4 of 5
Score 43 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D30 out of 100Rank 4 of 5Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C54 out of 100Rank 1 of 5Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B61 out of 100Rank 2 of 5Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C40 out of 100Rank 5 of 5
Our read on ERY
In short
CA 2008-vintage way to lean against Big Oil: ERY aims for negative 200% of the daily move in the S&P 500's energy sector, shorting the stocks themselves rather than crude futures. Built as a single-day tool.
Stated mandate
The fund seeks daily investment results, before fees and expenses, equal to negative 200% of the Energy Select Sector Index. It is a leveraged inverse strategy intended for a single day rather than the index’s cumulative return over longer periods.
Why people hold it
Worth knowing
ERY Holdings
- Other
- 4
- 217%
- Ixe Swap Asset Leg (Ixebcs)
ERY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
ERY$4,475
Returns run to the Nov 5, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | ERY |
|---|---|
| Year to date | −52.4% |
| 1 month | +3.9% |
| 3 months | −16.6% |
| 1 year | −55.2% |
| 3 years | −27.0% |
| 5 years | −36.9% |
| 10 years | −34.0% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | ERY |
|---|---|---|
| 2026 YTD | −52.4% | |
| 2025 | −18.5% | |
| 2024 | −5.5% | |
| 2023 | −0.3% | |
| 2022 | −73.6% |
ERY in the news
ERY Dividends
- 3.31%
- $0.31
- $0.07 per share
- Quarterly
ERY Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 39.0%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.95
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −93.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −0.03
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
ERY Cost
Overpaying vs SCO, tied cheapest in Inverse Energy
$656
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
ERY 0.99%
$18,525
SCO 0.95% Tied cheapest
$17,869
Cost over time
Year by year
| Year | ERY | SCO | Overpaying |
|---|---|---|---|
| 10 | $1,746 | $1,678 | $68 |
| 20 | $6,565 | $6,322 | $243 |
| 30 | $18,525 | $17,869 | $656 |
You pay 0.99%Waived by Direxion 0.05%
Full fee 1.04% waiver 0.05% you pay 0.99%
Other funds in Inverse Energy
- BSCOProShares UltraShort Bloomberg Crude OilExpense ratio 0.95%1 year return −74.0%
- BDUGProShares UltraShort EnergyExpense ratio 0.95%1 year return −55.5%
- CKOLDProShares UltraShort Bloomberg Natural GasExpense ratio 0.95%1 year return +6.3%
- DDRIPDirexion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETFExpense ratio 1.01%1 year return −58.2%
