AVRE vs. DRN

Last updated Jun 4, 2026

AVRE (Avantis Real Estate ETF) and DRN (Direxion Daily Real Estate Bull 3x Shares) are both REIT funds. AVRE is actively managed, while DRN is passively managed. Over the past 3 years, AVRE returned 8.26%/yr vs 7.35%/yr for DRN. With a 0.96 correlation, they move nearly in lockstep. AVRE charges 0.17%/yr vs 0.99%/yr for DRN.

Performance

AVRE vs. DRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Real Estate ETF (AVRE) and Direxion Daily Real Estate Bull 3x Shares (DRN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVRE achieves a 7.23% return, which is significantly lower than DRN's 19.48% return.

AVRE

• 1D: -0.30%
• 1M: -1.25%
• YTD: 7.23%
• 6M: 6.93%
• 1Y: 9.59%
• 3Y*: 8.26%
• 5Y*: —
• 10Y*: —

DRN

• 1D: 0.10%
• 1M: -4.89%
• YTD: 19.48%
• 6M: 15.83%
• 1Y: 7.81%
• 3Y*: 7.35%
• 5Y*: -11.56%
• 10Y*: -5.09%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVRE vs. DRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVRE Avantis Real Estate ETF	7.23%	8.34%	0.54%	9.10%	-23.70%	13.16%
DRN Direxion Daily Real Estate Bull 3x Shares	19.48%	-11.24%	-5.29%	12.03%	-67.26%	47.83%

Correlation

The correlation between AVRE and DRN is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.96

The correlation between AVRE and DRN has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

AVRE vs. DRN - Sectors Allocation Comparison

Sectors	AVRE	DRN
Real Estate	99.3%	19.6%
Financial Services	0.1%	-
Utilities	0.1%	-
Basic Materials	-	0.4%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-

Return for Risk

AVRE vs. DRN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVRE

AVRE Risk / Return Rank: 23
AVRE Sharpe Ratio Rank: 23
AVRE Sortino Ratio Rank: 22
AVRE Omega Ratio Rank: 22
AVRE Calmar Ratio Rank: 22
AVRE Martin Ratio Rank: 27

DRN

DRN Risk / Return Rank: 12
DRN Sharpe Ratio Rank: 11
DRN Sortino Ratio Rank: 12
DRN Omega Ratio Rank: 13
DRN Calmar Ratio Rank: 12
DRN Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVRE vs. DRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Real Estate ETF (AVRE) and Direxion Daily Real Estate Bull 3x Shares (DRN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AVRE	DRN	Difference
Sharpe ratio: Return per unit of total volatility	0.81	0.20	+0.61
Sortino ratio: Return per unit of downside risk	1.18	0.53	+0.64
Omega ratio: Gain probability vs. loss probability	1.15	1.07	+0.08
Calmar ratio: Return relative to maximum drawdown	1.03	0.32	+0.70
Martin ratio: Return relative to average drawdown	3.74	0.72	+3.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVRE vs. DRN - Sharpe Ratio Comparison

The current AVRE Sharpe Ratio is 0.81, which is higher than the DRN Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of AVRE and DRN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVRE	DRN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	0.20	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.21	-0.08

Drawdowns

AVRE vs. DRN - Drawdown Comparison

The maximum AVRE drawdown since its inception was -32.52%, smaller than the maximum DRN drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for AVRE and DRN.

Drawdown Indicators

	AVRE	DRN	Difference
Max Drawdown Largest peak-to-trough decline	-32.52%	-86.32%	+53.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-24.28%	+14.90%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-48.26%	+30.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-80.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.32%	—
Current Drawdown Current decline from peak	-3.04%	-65.93%	+62.89%
Average Drawdown Average peak-to-trough decline	-14.76%	-35.07%	+20.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	10.91%	-8.34%

Volatility

AVRE vs. DRN - Volatility Comparison

The current volatility for Avantis Real Estate ETF (AVRE) is 3.45%, while Direxion Daily Real Estate Bull 3x Shares (DRN) has a volatility of 11.13%. This indicates that AVRE experiences smaller price fluctuations and is considered to be less risky than DRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVRE	DRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	11.13%	-7.68%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	28.89%	-19.93%
Volatility (1Y) Calculated over the trailing 1-year period	11.90%	40.04%	-28.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	56.65%	-40.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	60.61%	-44.01%

AVRE vs. DRN - Expense Ratio Comparison

AVRE has a 0.17% expense ratio, which is lower than DRN's 0.99% expense ratio.

Dividends

AVRE vs. DRN - Dividend Comparison

AVRE's dividend yield for the trailing twelve months is around 3.51%, more than DRN's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVRE Avantis Real Estate ETF	3.51%	4.30%	3.99%	3.33%	3.78%	0.61%	0.00%	0.00%	0.00%	0.00%
DRN Direxion Daily Real Estate Bull 3x Shares	2.23%	2.81%	2.24%	2.84%	2.70%	4.21%	1.90%	2.59%	3.11%	0.91%

Frequently Asked Questions

Can I hold both AVRE and DRN in my portfolio?

With a correlation of 0.95, AVRE and DRN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AVRE or DRN?

DRN has higher volatility (11.13%) compared to AVRE (3.45%). In terms of maximum drawdown, AVRE dropped -32.52% vs DRN's -86.32%.

Which ETF is better, AVRE or DRN?

On 3-year performance, AVRE leads with 8.26% vs 7.35% for DRN. On fees, AVRE is cheaper at 0.17% per year. On volatility, AVRE has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVRE or DRN?

Over the 3-year period, AVRE has performed better with a 8.26% return vs 7.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVRE or DRN?

AVRE is cheaper with a 0.17% expense ratio, compared with 0.99% for DRN.

Which ETF pays a higher dividend yield, AVRE or DRN?

AVRE has the higher dividend yield at 3.51%, compared with 2.23% for DRN.

What is the main difference between AVRE and DRN?

They also come from different issuers: Avantis and Direxion. Their fees differ too: 0.17% for AVRE and 0.99% for DRN.

Which has better risk-adjusted returns?

AVRE currently has the higher Sharpe Ratio (0.81 vs 0.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.