CHAU vs. DRV
CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) and DRV (Direxion Daily Real Estate Bear 3x Shares) are both exchange-traded funds - CHAU is a Leveraged Equities fund tracking the CSI 300 Index (200%), while DRV is a REIT fund tracking the MSCI US REIT Index (-300%). Both are passively managed. Over the past 10 years, CHAU returned 5.49%/yr vs -29.40%/yr for DRV. At a correlation of -0.21, they often move in opposite directions. CHAU charges 1.21%/yr vs 1.08%/yr for DRV.
Performance
CHAU vs. DRV - Performance Comparison
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Returns By Period
In the year-to-date period, CHAU achieves a 15.68% return, which is significantly higher than DRV's -29.93% return. Over the past 10 years, CHAU has outperformed DRV with an annualized return of 5.49%, while DRV has yielded a comparatively lower -29.40% annualized return.
CHAU
- 1D
- -6.92%
- 1M
- 2.59%
- YTD
- 15.68%
- 6M
- 16.43%
- 1Y
- 74.53%
- 3Y*
- 14.03%
- 5Y*
- -8.64%
- 10Y*
- 5.49%
DRV
- 1D
- -4.91%
- 1M
- -4.37%
- YTD
- -29.93%
- 6M
- -30.51%
- 1Y
- -22.15%
- 3Y*
- -27.14%
- 5Y*
- -17.01%
- 10Y*
- -29.40%
CHAU vs. DRV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares | 15.68% | 47.73% | 6.61% | -28.25% | -49.17% | -2.84% | 71.95% | 70.01% | -51.03% | 74.91% |
DRV Direxion Daily Real Estate Bear 3x Shares | -29.93% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 5.07% | -17.10% |
Correlation
The correlation between CHAU and DRV is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015 | -0.21 |
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Return for Risk
CHAU vs. DRV — Risk / Return Rank
CHAU
DRV
CHAU vs. DRV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) and Direxion Daily Real Estate Bear 3x Shares (DRV). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CHAU | DRV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.63 | ||
| Sortino ratioReturn per unit of downside risk | +3.24 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.94 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 4.91 | -0.68 | +5.58 |
| Martin ratioReturn relative to average drawdown | 13.77 | -1.47 | +15.24 |
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Drawdowns
CHAU vs. DRV - Drawdown Comparison
The maximum CHAU drawdown since its inception was -79.21%, smaller than the maximum DRV drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for CHAU and DRV.
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Drawdown Indicators
| CHAU | DRV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.21% | -99.99% | +20.78% |
Max Drawdown (1Y)Largest decline over 1 year | -15.27% | -32.86% | +17.59% |
Max Drawdown (3Y)Largest decline over 3 years | -59.88% | -71.93% | +12.05% |
Max Drawdown (5Y)Largest decline over 5 years | -72.59% | -74.35% | +1.76% |
Max Drawdown (10Y)Largest decline over 10 years | -78.58% | -97.42% | +18.84% |
Current DrawdownCurrent decline from peak | -53.31% | -99.99% | +46.68% |
Average DrawdownAverage peak-to-trough decline | -58.86% | -97.75% | +38.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.43% | 15.12% | -9.69% |
Volatility
CHAU vs. DRV - Volatility Comparison
The current volatility for Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) is 14.72%, while Direxion Daily Real Estate Bear 3x Shares (DRV) has a volatility of 16.42%. This indicates that CHAU experiences smaller price fluctuations and is considered to be less risky than DRV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHAU | DRV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.72% | 16.42% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 25.68% | 31.89% | -6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.51% | 42.62% | -7.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.32% | 57.12% | -9.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.22% | 62.82% | -15.60% |
CHAU vs. DRV - Expense Ratio Comparison
CHAU has a 1.21% expense ratio, which is higher than DRV's 1.08% expense ratio.
Dividends
CHAU vs. DRV - Dividend Comparison
CHAU's dividend yield for the trailing twelve months is around 1.76%, less than DRV's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares | 1.35% | 1.97% | 2.25% | 3.97% | 0.77% | 1.73% | 0.09% | 0.58% | 0.83% |
DRV Direxion Daily Real Estate Bear 3x Shares | 2.93% | 2.88% | 4.57% | 5.35% | 0.38% | 0.00% | 0.58% | 1.71% | 0.42% |
Frequently Asked Questions
CHAU and DRV have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRV has higher volatility (16.42%) compared to CHAU (14.72%). In terms of maximum drawdown, CHAU dropped -79.21% vs DRV's -99.99%.
On 10-year performance, CHAU leads with 5.49% vs -29.40% for DRV. On fees, DRV is cheaper at 1.08% per year. On volatility, CHAU has been the lower-risk option at 14.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CHAU has performed better with a 5.49% return vs -29.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRV is cheaper with a 1.08% expense ratio, compared with 1.21% for CHAU.
DRV has the higher dividend yield at 4.00%, compared with 1.76% for CHAU.
CHAU is categorized as Leveraged Equities, while DRV is REIT. CHAU tracks CSI 300 Index (200%), while DRV tracks MSCI US REIT Index (-300%). Their fees differ too: 1.21% for CHAU and 1.08% for DRV.
CHAU currently has the higher Sharpe Ratio (2.11 vs -0.52), 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.
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