DRN vs. BBRE
DRN (Direxion Daily Real Estate Bull 3x Shares) and BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) are both REIT funds - DRN tracks the MSCI US REIT Index (300%) while BBRE tracks the MSCI US REIT Index. Both are passively managed. Over the past 5 years, DRN returned -11.67%/yr vs 4.93%/yr for BBRE. With a 0.95 correlation, they move nearly in lockstep. DRN charges 0.99%/yr vs 0.11%/yr for BBRE.
Performance
DRN vs. BBRE - Performance Comparison
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Returns By Period
In the year-to-date period, DRN achieves a 29.86% return, which is significantly higher than BBRE's 18.65% return.
DRN
- 1D
- 1.48%
- 1M
- -3.26%
- 6M
- 27.76%
- YTD
- 29.86%
- 1Y
- 16.43%
- 3Y*
- 4.43%
- 5Y*
- -11.67%
- 10Y*
- -6.30%
BBRE
- 1D
- 0.68%
- 1M
- 1.23%
- 6M
- 16.92%
- YTD
- 18.65%
- 1Y
- 20.68%
- 3Y*
- 11.08%
- 5Y*
- 4.93%
- 10Y*
- —
DRN vs. BBRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 29.86% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -14.95% |
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 18.65% | 2.09% | 8.24% | 13.85% | -24.68% | 42.99% | -7.55% | 26.06% | -2.41% |
Correlation
The correlation between DRN and BBRE is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018 | 0.95 |
The correlation between DRN and BBRE has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
DRN vs. BBRE — Risk / Return Rank
DRN
BBRE
DRN vs. BBRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bull 3x Shares (DRN) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). 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.
| DRN | BBRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.25 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 2.57 | -1.89 |
| Martin ratioReturn relative to average drawdown | 1.51 | 8.16 | -6.65 |
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Drawdowns
DRN vs. BBRE - Drawdown Comparison
The maximum DRN drawdown since its inception was -86.32%, which is greater than BBRE's maximum drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for DRN and BBRE.
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Drawdown Indicators
| DRN | BBRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.32% | -43.61% | -42.71% |
Max Drawdown (1Y)Largest decline over 1 year | -24.28% | -8.07% | -16.21% |
Max Drawdown (3Y)Largest decline over 3 years | -48.26% | -18.92% | -29.34% |
Max Drawdown (5Y)Largest decline over 5 years | -80.58% | -31.15% | -49.43% |
Max Drawdown (10Y)Largest decline over 10 years | -86.32% | — | — |
Current DrawdownCurrent decline from peak | -62.98% | -0.73% | -62.25% |
Average DrawdownAverage peak-to-trough decline | -35.23% | -10.40% | -24.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.91% | 2.54% | +8.37% |
Volatility
DRN vs. BBRE - Volatility Comparison
Direxion Daily Real Estate Bull 3x Shares (DRN) has a higher volatility of 15.53% compared to JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) at 4.82%. This indicates that DRN's price experiences larger fluctuations and is considered to be riskier than BBRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRN | BBRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.53% | 4.82% | +10.71% |
Volatility (6M)Calculated over the trailing 6-month period | 33.02% | 10.67% | +22.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.58% | 14.09% | +28.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.94% | 18.83% | +38.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.77% | 22.50% | +38.27% |
DRN vs. BBRE - Expense Ratio Comparison
DRN has a 0.99% expense ratio, which is higher than BBRE's 0.11% expense ratio.
Dividends
DRN vs. BBRE - Dividend Comparison
DRN's dividend yield for the trailing twelve months is around 1.90%, less than BBRE's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 2.61% | 3.24% | 3.19% | 3.68% | 2.62% | 1.70% | 3.17% | 2.19% | 1.96% | 0.00% |
DRN Direxion Daily Real Estate Bull 3x Shares | 1.90% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% |
Frequently Asked Questions
With a correlation of 0.93, DRN and BBRE 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.
DRN has higher volatility (15.53%) compared to BBRE (4.82%). In terms of maximum drawdown, DRN dropped -86.32% vs BBRE's -43.61%.
On 5-year performance, BBRE leads with 4.93% vs -11.67% for DRN. On fees, BBRE is cheaper at 0.11% per year. On volatility, BBRE has been the lower-risk option at 4.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBRE has performed better with a 4.93% return vs -11.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBRE is cheaper with a 0.11% expense ratio, compared with 0.99% for DRN.
BBRE has the higher dividend yield at 2.61%, compared with 1.90% for DRN.
DRN tracks MSCI US REIT Index (300%), while BBRE tracks MSCI US REIT Index. They also come from different issuers: Direxion and JPMorgan. Their fees differ too: 0.99% for DRN and 0.11% for BBRE.
BBRE currently has the higher Sharpe Ratio (1.48 vs 0.39), 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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