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 4.54%/yr vs -28.88%/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 17.74% return, which is significantly higher than DRV's -21.17% return. Over the past 10 years, CHAU has outperformed DRV with an annualized return of 4.54%, while DRV has yielded a comparatively lower -28.88% annualized return.
CHAU
- 1D
- -0.12%
- 1M
- 5.21%
- YTD
- 17.74%
- 6M
- 25.00%
- 1Y
- 80.30%
- 3Y*
- 12.95%
- 5Y*
- -9.67%
- 10Y*
- 4.54%
DRV
- 1D
- -0.19%
- 1M
- 4.49%
- YTD
- -21.17%
- 6M
- -18.62%
- 1Y
- -16.69%
- 3Y*
- -22.80%
- 5Y*
- -15.28%
- 10Y*
- -28.88%
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 | 17.74% | 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 | -21.17% | -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 -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
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 17, 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.
| CHAU | DRV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.84 | ||
| Sortino ratioReturn per unit of downside risk | +3.42 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.96 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 5.29 | -0.56 | +5.85 |
| Martin ratioReturn relative to average drawdown | 15.85 | -1.24 | +17.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CHAU | DRV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.42 | -0.42 | +2.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.21 | -0.27 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | -0.46 | +0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | -0.68 | +0.61 |
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% | -30.02% | +14.75% |
Max Drawdown (3Y)Largest decline over 3 years | -59.88% | -70.74% | +10.86% |
Max Drawdown (5Y)Largest decline over 5 years | -73.69% | -73.26% | -0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -78.58% | -97.31% | +18.73% |
Current DrawdownCurrent decline from peak | -52.49% | -99.99% | +47.50% |
Average DrawdownAverage peak-to-trough decline | -58.90% | -97.77% | +38.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.08% | 13.53% | -8.45% |
Volatility
CHAU vs. DRV - Volatility Comparison
Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) and Direxion Daily Real Estate Bear 3x Shares (DRV) have volatilities of 11.70% and 11.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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 | 11.70% | 11.51% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 22.78% | 28.83% | -6.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.37% | 40.37% | -7.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.08% | 56.91% | -9.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.14% | 62.65% | -15.51% |
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 1.73%, less than DRV's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares | 1.73% | 1.97% | 2.25% | 3.97% | 0.77% | 1.73% | 0.09% | 0.58% | 0.83% |
DRV Direxion Daily Real Estate Bear 3x Shares | 3.56% | 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 -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHAU has higher volatility (11.70%) compared to DRV (11.51%). In terms of maximum drawdown, CHAU dropped -79.21% vs DRV's -99.99%.
On 10-year performance, CHAU leads with 4.54% vs -28.88% for DRV. On fees, DRV is cheaper at 1.08% per year. On volatility, DRV has been the lower-risk option at 11.51%. 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 4.54% return vs -28.88%. 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 3.56%, compared with 1.73% 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 (2.42 vs -0.41), 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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