DRN vs. KBWY
DRN (Direxion Daily Real Estate Bull 3x Shares) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both REIT funds - DRN tracks the MSCI US REIT Index (300%) while KBWY tracks the KBW Premium Yield Equity REIT Index. Both are passively managed. Over the past 10 years, DRN returned -5.09%/yr vs 1.18%/yr for KBWY. Their correlation of 0.82 suggests significant overlap in exposure. DRN charges 0.99%/yr vs 0.35%/yr for KBWY.
Performance
DRN vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, DRN achieves a 19.48% return, which is significantly higher than KBWY's 17.06% return. Over the past 10 years, DRN has underperformed KBWY with an annualized return of -5.09%, while KBWY has yielded a comparatively higher 1.18% annualized return.
DRN
- 1D
- 0.10%
- 1M
- -4.89%
- YTD
- 19.48%
- 6M
- 15.83%
- 1Y
- 7.81%
- 3Y*
- 7.35%
- 5Y*
- -11.56%
- 10Y*
- -5.09%
KBWY
- 1D
- -0.81%
- 1M
- 5.63%
- YTD
- 17.06%
- 6M
- 17.05%
- 1Y
- 22.51%
- 3Y*
- 9.10%
- 5Y*
- 2.15%
- 10Y*
- 1.18%
DRN vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 19.48% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 17.06% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between DRN and KBWY is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2010 | 0.82 |
The correlation between DRN and KBWY shifts across timeframes, from 0.71 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DRN vs. KBWY — Risk / Return Rank
DRN
KBWY
DRN vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bull 3x Shares (DRN) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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.
| DRN | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.23 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 2.45 | -2.12 |
| Martin ratioReturn relative to average drawdown | 0.72 | 5.82 | -5.10 |
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
| DRN | KBWY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.20 | 1.38 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | 0.10 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | 0.04 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.20 | +0.01 |
Drawdowns
DRN vs. KBWY - Drawdown Comparison
The maximum DRN drawdown since its inception was -86.32%, which is greater than KBWY's maximum drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for DRN and KBWY.
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Drawdown Indicators
| DRN | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.32% | -57.68% | -28.64% |
Max Drawdown (1Y)Largest decline over 1 year | -24.28% | -9.24% | -15.04% |
Max Drawdown (3Y)Largest decline over 3 years | -48.26% | -29.93% | -18.33% |
Max Drawdown (5Y)Largest decline over 5 years | -80.58% | -32.29% | -48.29% |
Max Drawdown (10Y)Largest decline over 10 years | -86.32% | -57.68% | -28.64% |
Current DrawdownCurrent decline from peak | -65.93% | -10.82% | -55.11% |
Average DrawdownAverage peak-to-trough decline | -35.07% | -14.18% | -20.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.91% | 3.88% | +7.03% |
Volatility
DRN vs. KBWY - Volatility Comparison
Direxion Daily Real Estate Bull 3x Shares (DRN) has a higher volatility of 11.13% compared to Invesco KBW Premium Yield Equity REIT ETF (KBWY) at 4.73%. This indicates that DRN's price experiences larger fluctuations and is considered to be riskier than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRN | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.13% | 4.73% | +6.40% |
Volatility (6M)Calculated over the trailing 6-month period | 28.89% | 11.61% | +17.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.04% | 16.44% | +23.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.65% | 21.61% | +35.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.61% | 27.05% | +33.56% |
DRN vs. KBWY - Expense Ratio Comparison
DRN has a 0.99% expense ratio, which is higher than KBWY's 0.35% expense ratio.
Dividends
DRN vs. KBWY - Dividend Comparison
DRN's dividend yield for the trailing twelve months is around 2.23%, less than KBWY's 8.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 2.23% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% | 0.00% | 0.00% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.64% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
Frequently Asked Questions
DRN and KBWY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRN has higher volatility (11.13%) compared to KBWY (4.73%). In terms of maximum drawdown, DRN dropped -86.32% vs KBWY's -57.68%.
On 10-year performance, KBWY leads with 1.18% vs -5.09% for DRN. On fees, KBWY is cheaper at 0.35% per year. On volatility, KBWY has been the lower-risk option at 4.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, KBWY has performed better with a 1.18% return vs -5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY is cheaper with a 0.35% expense ratio, compared with 0.99% for DRN.
KBWY has the higher dividend yield at 8.64%, compared with 2.23% for DRN.
DRN tracks MSCI US REIT Index (300%), while KBWY tracks KBW Premium Yield Equity REIT Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.99% for DRN and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.38 vs 0.20), 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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