DRN vs. ITB
DRN (Direxion Daily Real Estate Bull 3x Shares) and ITB (iShares U.S. Home Construction ETF) are both exchange-traded funds - DRN is a REIT fund tracking the MSCI US REIT Index (300%), while ITB is a Building & Construction fund tracking the Dow Jones U.S. Select Home Construction Index. Both are passively managed. Over the past 10 years, DRN returned -6.30%/yr vs 13.44%/yr for ITB. A 0.56 correlation means they provide meaningful diversification when combined. DRN charges 0.99%/yr vs 0.38%/yr for ITB.
Performance
DRN vs. ITB - 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 ITB's 0.36% return. Over the past 10 years, DRN has underperformed ITB with an annualized return of -6.30%, while ITB has yielded a comparatively higher 13.44% annualized 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%
ITB
- 1D
- -1.49%
- 1M
- -0.51%
- 6M
- -10.42%
- YTD
- 0.36%
- 1Y
- -1.85%
- 3Y*
- 3.64%
- 5Y*
- 8.49%
- 10Y*
- 13.44%
DRN vs. ITB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 29.86% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
ITB iShares U.S. Home Construction ETF | 0.36% | -5.26% | 2.06% | 68.91% | -26.26% | 49.25% | 26.42% | 48.70% | -30.92% | 59.65% |
Correlation
The correlation between DRN and ITB is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | 0.56 |
The correlation between DRN and ITB has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.
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Return for Risk
DRN vs. ITB — Risk / Return Rank
DRN
ITB
DRN vs. ITB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bull 3x Shares (DRN) and iShares U.S. Home Construction ETF (ITB). 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 | ITB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.02 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | -0.07 | +0.75 |
| Martin ratioReturn relative to average drawdown | 1.51 | -0.13 | +1.64 |
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Drawdowns
DRN vs. ITB - Drawdown Comparison
The maximum DRN drawdown since its inception was -86.32%, roughly equal to the maximum ITB drawdown of -86.53%. Use the drawdown chart below to compare losses from any high point for DRN and ITB.
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Drawdown Indicators
| DRN | ITB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.32% | -86.53% | +0.21% |
Max Drawdown (1Y)Largest decline over 1 year | -24.28% | -26.04% | +1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -48.26% | -33.35% | -14.91% |
Max Drawdown (5Y)Largest decline over 5 years | -80.58% | -40.55% | -40.03% |
Max Drawdown (10Y)Largest decline over 10 years | -86.32% | -52.10% | -34.22% |
Current DrawdownCurrent decline from peak | -62.98% | -23.92% | -39.06% |
Average DrawdownAverage peak-to-trough decline | -35.23% | -37.02% | +1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.91% | 14.00% | -3.09% |
Volatility
DRN vs. ITB - Volatility Comparison
Direxion Daily Real Estate Bull 3x Shares (DRN) has a higher volatility of 15.53% compared to iShares U.S. Home Construction ETF (ITB) at 10.84%. This indicates that DRN's price experiences larger fluctuations and is considered to be riskier than ITB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRN | ITB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.53% | 10.84% | +4.69% |
Volatility (6M)Calculated over the trailing 6-month period | 33.02% | 22.25% | +10.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.58% | 30.26% | +12.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.94% | 29.51% | +27.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.77% | 30.14% | +30.63% |
DRN vs. ITB - Expense Ratio Comparison
DRN has a 0.99% expense ratio, which is higher than ITB's 0.38% expense ratio.
Dividends
DRN vs. ITB - Dividend Comparison
DRN's dividend yield for the trailing twelve months is around 1.90%, more than ITB's 0.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
ITB iShares U.S. Home Construction ETF | 0.67% | 1.67% | 0.46% | 0.48% | 0.86% | 0.37% | 0.46% | 0.50% | 0.63% | 0.28% | 0.43% | 0.34% |
Frequently Asked Questions
DRN and ITB have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRN has higher volatility (15.53%) compared to ITB (10.84%). In terms of maximum drawdown, DRN dropped -86.32% vs ITB's -86.53%.
On 10-year performance, ITB leads with 13.44% vs -6.30% for DRN. On fees, ITB is cheaper at 0.38% per year. On volatility, ITB has been the lower-risk option at 10.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ITB has performed better with a 13.44% return vs -6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITB is cheaper with a 0.38% expense ratio, compared with 0.99% for DRN.
DRN has the higher dividend yield at 1.90%, compared with 0.67% for ITB.
DRN is categorized as REIT, while ITB is Building & Construction. DRN tracks MSCI US REIT Index (300%), while ITB tracks Dow Jones U.S. Select Home Construction Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.99% for DRN and 0.38% for ITB.
DRN currently has the higher Sharpe Ratio (0.39 vs -0.06), 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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