DRN vs. FAS
DRN (Direxion Daily Real Estate Bull 3x Shares) and FAS (Direxion Daily Financial Bull 3X ETF) are both exchange-traded funds - DRN is a REIT fund tracking the MSCI US REIT Index (300%), while FAS is a Leveraged Equities fund tracking the Financial Select Sector Index. Both are passively managed. Over the past 10 years, DRN returned -6.49%/yr vs 21.45%/yr for FAS. A 0.63 correlation means they provide meaningful diversification when combined. DRN charges 0.99%/yr vs 0.88%/yr for FAS.
Performance
DRN vs. FAS - Performance Comparison
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Returns By Period
In the year-to-date period, DRN achieves a 34.25% return, which is significantly higher than FAS's -0.13% return. Over the past 10 years, DRN has underperformed FAS with an annualized return of -6.49%, while FAS has yielded a comparatively higher 21.45% annualized return.
DRN
- 1D
- -1.31%
- 1M
- 11.04%
- 6M
- 18.28%
- YTD
- 34.25%
- 1Y
- 18.52%
- 3Y*
- 6.25%
- 5Y*
- -11.34%
- 10Y*
- -6.49%
- ALL TIME*
- 14.22%
FAS
- 1D
- -1.04%
- 1M
- 14.28%
- 6M
- 2.58%
- YTD
- -0.13%
- 1Y
- 7.81%
- 3Y*
- 37.27%
- 5Y*
- 12.46%
- 10Y*
- 21.45%
- ALL TIME*
- 13.85%
DRN vs. FAS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 34.25% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
FAS Direxion Daily Financial Bull 3X ETF | -0.13% | 21.48% | 84.47% | 14.92% | -43.19% | 116.59% | -34.97% | 113.04% | -33.84% | 67.37% |
Correlation
The correlation between DRN and FAS is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | 0.63 |
The correlation between DRN and FAS shifts across timeframes, from 0.44 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DRN vs. FAS — Risk / Return Rank
DRN
FAS
DRN vs. FAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bull 3x Shares (DRN) and Direxion Daily Financial Bull 3X ETF (FAS). 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 | FAS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.07 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 0.19 | +0.57 |
| Martin ratioReturn relative to average drawdown | 1.70 | 0.42 | +1.28 |
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Drawdowns
DRN vs. FAS - Drawdown Comparison
The maximum DRN drawdown since its inception was -86.32%, smaller than the maximum FAS drawdown of -91.61%. Use the drawdown chart below to compare losses from any high point for DRN and FAS.
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Drawdown Indicators
| DRN | FAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.32% | -91.61% | +5.29% |
Max Drawdown (1Y)Largest decline over 1 year | -24.28% | -40.88% | +16.60% |
Max Drawdown (3Y)Largest decline over 3 years | -48.26% | -43.10% | -5.16% |
Max Drawdown (5Y)Largest decline over 5 years | -80.58% | -66.88% | -13.70% |
Max Drawdown (10Y)Largest decline over 10 years | -86.32% | -85.99% | -0.33% |
Current DrawdownCurrent decline from peak | -61.72% | -8.36% | -53.36% |
Average DrawdownAverage peak-to-trough decline | -35.27% | -31.02% | -4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.91% | 18.45% | -7.54% |
Volatility
DRN vs. FAS - Volatility Comparison
Direxion Daily Real Estate Bull 3x Shares (DRN) has a higher volatility of 14.09% compared to Direxion Daily Financial Bull 3X ETF (FAS) at 12.21%. This indicates that DRN's price experiences larger fluctuations and is considered to be riskier than FAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRN | FAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.09% | 12.21% | +1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 33.33% | 33.49% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.66% | 43.53% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.85% | 55.00% | +1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.80% | 61.10% | -0.30% |
DRN vs. FAS - Expense Ratio Comparison
DRN has a 0.99% expense ratio, which is higher than FAS's 0.88% expense ratio.
Dividends
DRN vs. FAS - Dividend Comparison
DRN's dividend yield for the trailing twelve months is around 1.84%, less than FAS's 8.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 1.84% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% |
FAS Direxion Daily Financial Bull 3X ETF | 8.40% | 8.21% | 0.76% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% |
Frequently Asked Questions
DRN and FAS have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRN has higher volatility (14.09%) compared to FAS (12.21%). In terms of maximum drawdown, DRN dropped -86.32% vs FAS's -91.61%.
On 10-year performance, FAS leads with 21.45% vs -6.49% for DRN. On fees, FAS is cheaper at 0.88% per year. On volatility, FAS has been the lower-risk option at 12.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FAS has performed better with a 21.45% return vs -6.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FAS is cheaper with a 0.88% expense ratio, compared with 0.99% for DRN.
FAS has the higher dividend yield at 8.40%, compared with 1.84% for DRN.
DRN is categorized as REIT, while FAS is Leveraged Equities. DRN tracks MSCI US REIT Index (300%), while FAS tracks Financial Select Sector Index. Their fees differ too: 0.99% for DRN and 0.88% for FAS.
DRN currently has the higher Sharpe Ratio (0.44 vs 0.18), 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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