Direxion Daily Energy Bull 2X Shares (ERX) Performance
ERX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +129.4% since Dec 31, 2025
- 1 year
- +132.0% total return
- 5 years
- +34.9% a year
- 10 years
- −7.1% a year
- Since first price
- −4.6% a year since 2008
ERX trailing returns vs SPY, QQQ, AGG
| Period | ERX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +22.4% | +22.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +34.5% | +34.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +44.2% | +43.3% | +7.8% | +8.4% | −1.5% |
| YTD | +129.4% | +126.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +132.0% | +128.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +112.0%+28.5%/yr | +97.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +347.1%+34.9%/yr | +293.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −52.0%−7.1%/yr | −61.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −66.8%−7.1%/yr | −73.2% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionNov 19, 2008 | −56.6%−4.6%/yr | −69.1% | — | — | — |
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: ERX vs SPY
From Nov 19, 2008: ERX grew to $4,338, SPY to $129,200.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
ERX returns by calendar year
10 of 17 full years positive. Best 2022 (+130.6%), worst 2020 (−91.6%). 2026 is year to date.
ERX annual returns table
| Year | ERX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +129.4% | −30.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +2.8% | −35.3% | +17.7% | +20.8% | +7.2% |
| 2024 | +1.1% | −30.6% | +24.9% | +25.6% | +1.3% |
| 2023 | −12.3% | −34.0% | +26.2% | +54.9% | +5.7% |
| 2022 | +130.6% | −46.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +111.9% | −33.9% | +28.7% | +27.4% | −1.8% |
| 2020 | −91.6% | −96.7% | +18.3% | +48.6% | +7.5% |
| 2019 | +17.1% | −48.3% | +31.2% | +39.0% | +8.5% |
| 2018 | −55.9% | −70.4% | −4.6% | −0.1% | +0.1% |
| 2017 | −11.6% | −47.7% | +21.7% | +32.7% | +3.6% |
| 2016 | +70.3% | −39.0% | +12.0% | +7.1% | +2.4% |
| 2015 | −61.3% | −67.3% | +1.2% | +9.4% | +0.5% |
| 2014 | −32.7% | −64.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +85.4% | −20.9% | +32.3% | +36.6% | −2.0% |
| 2012 | +3.5% | −46.3% | +16.0% | +18.1% | +3.8% |
| 2011 | −19.8% | −69.5% | +1.9% | +3.4% | +7.7% |
| 2010 | +48.9% | −51.9% | +15.1% | +19.9% | +6.4% |
| 2009 | +14.5% | −63.6% | +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.
ERX largest drawdowns
Now 88.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 23, 2014 | −99.5% | Mar 23, 2020 | not yet | 5.7 years | 12.3 years so far |
| Apr 29, 2011 | −69.5% | Oct 3, 2011 | Apr 1, 2014 | 5 months | 2.9 years |
| Nov 26, 2008 | −66.3% | Mar 5, 2009 | Oct 19, 2009 | 3 months | 11 months |
| Apr 23, 2010 | −51.9% | Jul 2, 2010 | Nov 11, 2010 | 2 months | 7 months |
| Nov 19, 2008 | −33.9% | Nov 20, 2008 | Nov 24, 2008 | 1 days | 5 days |
| Oct 19, 2009 | −30.6% | Feb 8, 2010 | Apr 23, 2010 | 4 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
ERX risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | +17.2% | +34.3% | −9.4% | −6.8% |
| Volatility (annualized) | 41.7% | 53.4% | 69.2% | 65.5% |
| Sharpe ratio | 0.48 | 0.74 | 0.27 | 0.26 |
| Sortino ratio | 0.80 | 1.38 | 0.40 | 0.39 |
| Best month | +29.1% | +53.9% | +62.5% | +62.5% |
| Worst month | −28.7% | −32.6% | −86.7% | −86.7% |
| Best 12 months | +113.1% | +161.6% | +282.4% | +282.4% |
| Worst 12 months | −30.7% | −30.7% | −95.7% | −95.7% |
| Positive months | 50% | 57% | 54% | 55% |
| Beta vs S&P 500 | -0.03 | 0.96 | 2.46 | — |
| Correlation with S&P 500 | -0.01 | 0.28 | 0.54 | — |
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.
ERX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 204 | −95.7% | +4.0% | +282.4% | 54% |
| 3-year (a year) | 180 | −68.7% | −2.3% | +98.0% | 48% |
| 5-year (a year) | 156 | −55.0% | −15.9% | +50.5% | 28% |
| 10-year (a year) | 96 | −31.4% | −19.8% | +1.5% | 2% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
ERX performance overview
Direxion Daily Energy Bull 2X Shares (ERX) returned +132.0% over the past year and −7.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned −4.6% a year, turning $10,000 into about $4,338. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.5%, from Jun 23, 2014 to Mar 23, 2020; the fund has not yet regained that high. ERX finished 10 of its 17 full calendar years with a gain; the best year was 2022 (+130.6%) and the worst 2020 (−91.6%). Volatility has been 65.5% a year.
Related: ERX chart, ERX dividends. See the ERX overview for the latest quote and fund facts.
ERX performance FAQ
What is the ERX return over the past year?
ERX returned +132.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 128.1%.
What is the average annual return of ERX?
ERX has returned +34.9% a year over 5 years, −7.1% a year over 10 years, −4.6% a year since November 19, 2008 (total return, distributions reinvested).
How much would $10,000 invested in ERX be worth?
$10,000 invested in ERX at its first recorded close on November 19, 2008 would be worth about $4,338 on October 23, 2026 with distributions reinvested.
What was the worst year for ERX?
The worst calendar year was 2020, with a total return of −91.6%. The best was 2022 at +130.6%.
What is the biggest drawdown of ERX?
The largest peak-to-trough decline was −99.5% between June 23, 2014 and March 23, 2020. It has not yet recovered to that high; it is 88.4% below its peak.
How volatile is ERX?
Over the past 3 years ERX had an annualized volatility of 41.7% and a Sharpe ratio of 0.48 (excess return over 1–3 month T-bills per unit of risk).