Direxion Daily Energy Bear 2X Shares (ERY) Performance
ERY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −61.8% since Dec 31, 2025
- 1 year
- −62.7% total return
- 5 years
- −39.8% a year
- 10 years
- −34.8% a year
- Since first price
- −40.6% a year since 2008
ERY trailing returns vs SPY, QQQ, AGG
| Period | ERY total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −19.2% | −19.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −28.2% | −28.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −35.9% | −36.8% | +7.8% | +8.4% | −1.5% |
| YTD | −61.8% | −62.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −62.7% | −63.6% | +14.4% | +15.9% | −1.1% |
| 3 years | −67.3%−31.1%/yr | −70.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −92.1%−39.8%/yr | −93.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −98.6%−34.8%/yr | −98.8% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −99.8%−33.7%/yr | −99.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionNov 6, 2008 | −99.99%−40.6%/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: ERY vs SPY
From Nov 6, 2008: ERY grew to $1, SPY to $115,890.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
ERY returns by calendar year
3 of 17 full years positive. Best 2018 (+45.5%), worst 2022 (−73.6%). 2026 is year to date.
ERY annual returns table
| Year | ERY | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −61.8% | −60.9% | +12.3% | +15.1% | −1.0% |
| 2025 | −18.5% | −34.7% | +17.7% | +20.8% | +7.2% |
| 2024 | −5.6% | −33.6% | +24.9% | +25.6% | +1.3% |
| 2023 | −0.4% | −34.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −73.6% | −74.9% | −18.2% | −32.6% | −13.0% |
| 2021 | −68.0% | −69.8% | +28.7% | +27.4% | −1.8% |
| 2020 | −11.9% | −90.8% | +18.3% | +48.6% | +7.5% |
| 2019 | −38.7% | −43.1% | +31.2% | +39.0% | +8.5% |
| 2018 | +45.5% | −46.0% | −4.6% | −0.1% | +0.1% |
| 2017 | −5.6% | −42.5% | +21.7% | +32.7% | +3.6% |
| 2016 | −67.5% | −80.1% | +12.0% | +7.1% | +2.4% |
| 2015 | +39.6% | −50.7% | +1.2% | +9.4% | +0.5% |
| 2014 | +4.4% | −50.4% | +13.5% | +19.2% | +6.0% |
| 2013 | −57.1% | −54.2% | +32.3% | +36.6% | −2.0% |
| 2012 | −30.9% | −52.3% | +16.0% | +18.1% | +3.8% |
| 2011 | −49.8% | −56.3% | +1.9% | +3.4% | +7.7% |
| 2010 | −60.0% | −67.1% | +15.1% | +19.9% | +6.4% |
| 2009 | −69.8% | −82.3% | +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.
ERY largest drawdowns
Now 99.99% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 20, 2008 | −99.99% | Oct 23, 2026 | not yet | 17.9 years | 17.9 years so far |
| Nov 12, 2008 | −35.2% | Nov 13, 2008 | Nov 20, 2008 | 1 days | 8 days |
| Nov 6, 2008 | −10.8% | Nov 7, 2008 | Nov 12, 2008 | 1 days | 6 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
ERY risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | −24.5% | −39.6% | −33.1% | −38.2% |
| Volatility (annualized) | 37.9% | 47.9% | 61.9% | 59.6% |
| Sharpe ratio | -0.66 | -0.86 | -0.36 | -0.51 |
| Sortino ratio | -0.83 | -1.04 | -0.51 | -0.69 |
| Best month | +25.5% | +36.6% | +50.6% | +50.6% |
| Worst month | −23.7% | −37.8% | −48.8% | −48.8% |
| Best 12 months | +21.3% | +21.3% | +196.5% | +196.5% |
| Worst 12 months | −57.3% | −76.9% | −85.1% | −85.1% |
| Positive months | 50% | 42% | 42% | 40% |
| Beta vs S&P 500 | -0.06 | -0.94 | -2.22 | — |
| Correlation with S&P 500 | -0.02 | -0.31 | -0.55 | — |
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.
ERY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 204 | −85.1% | −38.2% | +196.5% | 21% |
| 3-year (a year) | 180 | −70.1% | −29.3% | +27.9% | 4% |
| 5-year (a year) | 156 | −57.5% | −36.2% | +3.3% | 1% |
| 10-year (a year) | 96 | −40.1% | −31.4% | −22.7% | 0% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
ERY performance overview
Direxion Daily Energy Bear 2X Shares (ERY) returned −62.7% over the past year and −34.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned −40.6% 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 Nov 20, 2008 to Oct 23, 2026; the fund has not yet regained that high. ERY finished 3 of its 17 full calendar years with a gain; the best year was 2018 (+45.5%) and the worst 2022 (−73.6%). Volatility has been 59.6% a year.
Related: ERY chart, ERY dividends. See the ERY overview for the latest quote and fund facts.
ERY performance FAQ
What is the ERY return over the past year?
ERY returned −62.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 63.6%.
What is the average annual return of ERY?
ERY has returned −39.8% a year over 5 years, −34.8% a year over 10 years, −40.6% a year since November 6, 2008 (total return, distributions reinvested).
How much would $10,000 invested in ERY be worth?
$10,000 invested in ERY at its first recorded close on November 6, 2008 would be worth about $1 on October 23, 2026 with distributions reinvested.
What was the worst year for ERY?
The worst calendar year was 2022, with a total return of −73.6%. The best was 2018 at +45.5%.
What is the biggest drawdown of ERY?
The largest peak-to-trough decline was −99.99% between November 20, 2008 and October 23, 2026. It has not yet recovered to that high; it is 99.99% below its peak.
How volatile is ERY?
Over the past 3 years ERY had an annualized volatility of 37.9% and a Sharpe ratio of -0.66 (excess return over 1–3 month T-bills per unit of risk).