Direxion Daily MSCI Emerging Markets Bear 3X… (EDZ) Performance
EDZ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −47.4% since Dec 31, 2025
- 1 year
- −49.0% total return
- 5 years
- −24.2% a year
- 10 years
- −32.5% a year
- Since first price
- −39.7% a year since 2008
EDZ trailing returns vs SPY, QQQ, AGG
| Period | EDZ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +29.6% | +29.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +8.5% | +7.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −15.3% | −17.8% | +7.8% | +8.4% | −1.5% |
| YTD | −47.4% | −49.5% | +12.3% | +15.1% | −1.0% |
| 1 year | −49.0% | −51.2% | +14.4% | +15.9% | −1.1% |
| 3 years | −86.4%−48.6%/yr | −88.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −75.0%−24.2%/yr | −78.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −98.0%−32.5%/yr | −98.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −99.6%−31.0%/yr | −99.7% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionDec 30, 2008 | −99.99%−39.7%/yr | −99.99% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: EDZ vs SPY
From Dec 30, 2008: EDZ grew to $1, SPY to $117,399.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EDZ returns by calendar year
3 of 17 full years positive. Best 2022 (+49.3%), worst 2009 (−92.6%). 2026 is year to date.
EDZ annual returns table
| Year | EDZ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −47.4% | −59.9% | +12.3% | +15.1% | −1.0% |
| 2025 | −59.3% | −68.8% | +17.7% | +20.8% | +7.2% |
| 2024 | −12.7% | −48.6% | +24.9% | +25.6% | +1.3% |
| 2023 | −20.3% | −30.3% | +26.2% | +54.9% | +5.7% |
| 2022 | +49.3% | −39.0% | −18.2% | −32.6% | −13.0% |
| 2021 | −8.7% | −30.2% | +28.7% | +27.4% | −1.8% |
| 2020 | −68.8% | −85.9% | +18.3% | +48.6% | +7.5% |
| 2019 | −43.0% | −46.4% | +31.2% | +39.0% | +8.5% |
| 2018 | +32.9% | −27.7% | −4.6% | −0.1% | +0.1% |
| 2017 | −64.1% | −62.7% | +21.7% | +32.7% | +3.6% |
| 2016 | −46.3% | −68.3% | +12.0% | +7.1% | +2.4% |
| 2015 | +25.2% | −41.5% | +1.2% | +9.4% | +0.5% |
| 2014 | −5.8% | −52.4% | +13.5% | +19.2% | +6.0% |
| 2013 | −11.7% | −48.7% | +32.3% | +36.6% | −2.0% |
| 2012 | −54.2% | −53.2% | +16.0% | +18.1% | +3.8% |
| 2011 | −3.0% | −52.7% | +1.9% | +3.4% | +7.7% |
| 2010 | −59.3% | −70.1% | +15.1% | +19.9% | +6.4% |
| 2009 | −92.6% | −94.8% | +26.4% | +54.7% | +3.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
EDZ largest drawdowns
Now 99.99% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 2, 2009 | −99.99% | Jun 22, 2026 | not yet | 17.3 years | 17.6 years so far |
| Jan 20, 2009 | −41.3% | Feb 6, 2009 | Mar 2, 2009 | 17 days | 41 days |
| Dec 30, 2008 | −27.7% | Jan 6, 2009 | Jan 12, 2009 | 7 days | 13 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EDZ risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | −50.6% | −29.0% | −34.1% | −40.4% |
| Volatility (annualized) | 42.1% | 50.5% | 47.2% | 53.6% |
| Sharpe ratio | -1.52 | -0.49 | -0.68 | -0.69 |
| Sortino ratio | -1.62 | -0.65 | -0.86 | -0.85 |
| Best month | +26.7% | +42.6% | +42.6% | +63.0% |
| Worst month | −31.5% | −36.9% | −36.9% | −49.5% |
| Best 12 months | −12.7% | +130.8% | +130.8% | +130.8% |
| Worst 12 months | −75.1% | −75.1% | −82.3% | −93.0% |
| Positive months | 25% | 38% | 36% | 38% |
| Beta vs S&P 500 | -2.05 | -2.13 | -2.03 | — |
| Correlation with S&P 500 | -0.60 | -0.66 | -0.66 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
EDZ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 203 | −93.0% | −29.1% | +130.8% | 21% |
| 3-year (a year) | 179 | −75.4% | −30.6% | +12.4% | 8% |
| 5-year (a year) | 155 | −59.2% | −26.3% | −14.0% | 0% |
| 10-year (a year) | 95 | −45.5% | −30.1% | −22.3% | 0% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
EDZ performance overview
Direxion Daily MSCI Emerging Markets Bear 3X… (EDZ) returned −49.0% over the past year and −32.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned −39.7% a year, turning $10,000 into about $1. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.99%, from Mar 2, 2009 to Jun 22, 2026; the fund has not yet regained that high. EDZ finished 3 of its 17 full calendar years with a gain; the best year was 2022 (+49.3%) and the worst 2009 (−92.6%). Volatility has been 53.6% a year.
Related: EDZ chart, EDZ dividends. See the EDZ overview for the latest quote and fund facts.
EDZ performance FAQ
What is the EDZ return over the past year?
EDZ returned −49.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 51.2%.
What is the average annual return of EDZ?
EDZ has returned −24.2% a year over 5 years, −32.5% a year over 10 years, −39.7% a year since December 30, 2008 (total return, distributions reinvested).
How much would $10,000 invested in EDZ be worth?
$10,000 invested in EDZ at its first recorded close on December 30, 2008 would be worth about $1 on October 23, 2026 with distributions reinvested.
What was the worst year for EDZ?
The worst calendar year was 2009, with a total return of −92.6%. The best was 2022 at +49.3%.
What is the biggest drawdown of EDZ?
The largest peak-to-trough decline was −99.99% between March 2, 2009 and June 22, 2026. It has not yet recovered to that high; it is 99.99% below its peak.
How volatile is EDZ?
Over the past 3 years EDZ had an annualized volatility of 42.1% and a Sharpe ratio of -1.52 (excess return over 1–3 month T-bills per unit of risk).