BRKD vs TAIL
Direxion Daily BRKB Bear 1X ETF vs Cambria Tail Risk ETF
Which is better, BRKD or TAIL?
Each has led over a different period.
TAIL has a lower expense ratio. BRKD led over 1Y, TAIL over the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BRKD | TAIL |
|---|---|---|
| Expense Ratio | 1.00% | 0.59%Best |
| AUM | $1M | $152M |
| Dividend Yield | 2.82% | 3.56% |
| Holdings | 7 | 22 |
| Volatility (annualized) | 16.8% | 10.5%Best |
| Max Drawdown | -17.9% | -16.8%Best |
| $10,000 over 1.3 years | $10,083 | $10,312Best |
| Fund Family | Direxion Shares ETF Trust | Cambria Investment Management |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Dec 11, 2024 | Apr 5, 2017 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 187 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. BRKD has data through Apr 10, 2026 and TAIL through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Dec 11, 2024 to Apr 10, 2026 (1.3 years).
Risk: Volatility and Drawdowns
BRKD has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 10.5% for TAIL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -17.9% for BRKD and -16.8% for TAIL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.40. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BRKD charges 1.00% per year while TAIL charges 0.59%. On a $10,000 position that is $100 vs $59 annually, a gap of $41 per year that compounds over a long holding period. On income, BRKD currently yields 2.82% against 3.56% for TAIL.
Holdings Overlap
We hold position weights for 3 holdings in BRKD and 2 in TAIL, totalling 99.9% and 93.4% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 227 days apart, BRKD as of Jan 30, 2026 and TAIL as of Sep 14, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 3 positions we hold weights for in BRKD and 2 in TAIL, against full books of 7 and 22.
You are not choosing between two funds in isolation.
Whichever of BRKD and TAIL you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BRKD or TAIL?
BRKD has an expense ratio of 1.00% while TAIL charges 0.59%. TAIL is the cheaper option, by $41 a year on a $10,000 investment.
Which is riskier, BRKD or TAIL?
BRKD has been the more volatile fund at 16.8% annualized versus 10.5% for TAIL. Worst drawdown: BRKD -17.9% vs TAIL -16.8%.
Should I hold both BRKD and TAIL?
BRKD and TAIL have a monthly-return correlation of -0.40, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BRKD or TAIL?
BRKD yields 2.82% while TAIL yields 3.56%, so TAIL currently pays the higher dividend yield.
Is TAIL better than BRKD?
TAIL has a lower expense ratio. BRKD led over 1Y, TAIL over the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.