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DRN vs. MIDU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DRN vs. MIDU

Last updated Jun 13, 2026

DRN (Direxion Daily Real Estate Bull 3x Shares) and MIDU (Direxion Daily Mid Cap Bull 3X Shares) are both exchange-traded funds - DRN is a REIT fund tracking the MSCI US REIT Index (300%), while MIDU is a Leveraged Equities fund tracking the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 10 years, DRN returned -3.96%/yr vs 12.76%/yr for MIDU. A 0.67 correlation means they provide meaningful diversification when combined. DRN charges 0.99%/yr vs 1.06%/yr for MIDU.

Performance

DRN vs. MIDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Real Estate Bull 3x Shares (DRN) and Direxion Daily Mid Cap Bull 3X Shares (MIDU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DRN achieves a 34.24% return, which is significantly lower than MIDU's 41.54% return. Over the past 10 years, DRN has underperformed MIDU with an annualized return of -3.96%, while MIDU has yielded a comparatively higher 12.76% annualized return.

DRN

1D
2.62%
1M
6.26%
YTD
34.24%
6M
33.93%
1Y
16.41%
3Y*
10.01%
5Y*
-10.77%
10Y*
-3.96%

MIDU

1D
1.98%
1M
10.51%
YTD
41.54%
6M
35.51%
1Y
66.94%
3Y*
23.88%
5Y*
2.68%
10Y*
12.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DRN vs. MIDU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DRN
Direxion Daily Real Estate Bull 3x Shares		34.24%-11.24%-5.29%12.03%-67.26%152.94%-55.37%81.86%-25.11%7.50%
MIDU
Direxion Daily Mid Cap Bull 3X Shares		41.54%-2.75%20.32%27.79%-49.27%72.89%-18.31%77.38%-39.21%46.86%

Correlation

The correlation between DRN and MIDU 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

0.59

Correlation (5Y)
Calculated over the trailing 5-year period

0.66

Correlation (10Y)
Calculated over the trailing 10-year period

0.61

Correlation (All Time)
Calculated using the full available price history since Jul 16, 2009

0.67

The correlation between DRN and MIDU shifts across timeframes, from 0.51 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

DRN vs. MIDU - Sectors Allocation Comparison

Sectors
DRN
MIDU

Real Estate

19.8%
7.5%

Basic Materials

0.4%
4.8%

Communication Services

-

1.0%

Consumer Cyclical

-

10.7%

Consumer Defensive

-

3.8%

Energy

-

5.5%

Financial Services

-

14.4%

Healthcare

-

8.6%

Industrials

-

25.0%

Technology

-

15.7%

Utilities

-

3.1%

Real Estate

DRN
19.8%
MIDU
7.5%

Basic Materials

DRN
0.4%
MIDU
4.8%

Communication Services

DRN

-

MIDU
1.0%

Consumer Cyclical

DRN

-

MIDU
10.7%

Consumer Defensive

DRN

-

MIDU
3.8%

Energy

DRN

-

MIDU
5.5%

Financial Services

DRN

-

MIDU
14.4%

Healthcare

DRN

-

MIDU
8.6%

Industrials

DRN

-

MIDU
25.0%

Technology

DRN

-

MIDU
15.7%

Utilities

DRN

-

MIDU
3.1%

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Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Mid Cap Bull 3X Shares

Often compared with DRN:
DRN vs. DRVDRN vs. UREDRN vs. XHBDRN vs. ITBDRN vs. PAVEDRN vs. DPSTDRN vs. TECL
Often compared with MIDU:
MIDU vs. TNAMIDU vs. UMDDMIDU vs. MVVMIDU vs. AMAGXMIDU vs. SPXLMIDU vs. UPROMIDU vs. mdy

Return for Risk

DRN vs. MIDU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DRN
DRN Risk / Return Rank: 1717
Overall Rank
DRN Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
DRN Sortino Ratio Rank: 1717
Sortino Ratio Rank
DRN Omega Ratio Rank: 1717
Omega Ratio Rank
DRN Calmar Ratio Rank: 1919
Calmar Ratio Rank
DRN Martin Ratio Rank: 1717
Martin Ratio Rank
MIDU
MIDU Risk / Return Rank: 5050
Overall Rank
MIDU Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
MIDU Sortino Ratio Rank: 4646
Sortino Ratio Rank
MIDU Omega Ratio Rank: 4242
Omega Ratio Rank
MIDU Calmar Ratio Rank: 5959
Calmar Ratio Rank
MIDU Martin Ratio Rank: 5656
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DRN vs. MIDU - 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 Mid Cap Bull 3X Shares (MIDU). 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.

DRNMIDUDifference
Sharpe ratioReturn per unit of total volatility
0.40
1.42

-1.02

Sortino ratioReturn per unit of downside risk
0.81
2.03

-1.23

Omega ratioGain probability vs. loss probability

1.10

1.24

-0.14

Calmar ratioReturn relative to maximum drawdown

0.68

2.61

-1.93

Martin ratioReturn relative to average drawdown

1.51

8.65

-7.14

DRN vs. MIDU - Sharpe Ratio Comparison

The current DRN Sharpe Ratio is 0.40, which is lower than the MIDU Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of DRN and MIDU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DRN vs. MIDU - Drawdown Comparison

The maximum DRN drawdown since its inception was -86.32%, roughly equal to the maximum MIDU drawdown of -86.26%. Use the drawdown chart below to compare losses from any high point for DRN and MIDU.

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Drawdown Indicators

DRNMIDUDifference

Max Drawdown

Largest peak-to-trough decline

-86.32%

-86.26%

-0.06%

Max Drawdown (1Y)

Largest decline over 1 year

-24.28%

-25.80%

+1.52%

Max Drawdown (3Y)

Largest decline over 3 years

-48.26%

-60.41%

+12.15%

Max Drawdown (5Y)

Largest decline over 5 years

-80.58%

-64.14%

-16.44%

Max Drawdown (10Y)

Largest decline over 10 years

-86.32%

-86.26%

-0.06%

Current Drawdown

Current decline from peak

-61.73%

-1.48%

-60.25%

Average Drawdown

Average peak-to-trough decline

-35.11%

-22.41%

-12.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.92%

7.77%

+3.15%

Volatility

DRN vs. MIDU - Volatility Comparison

The current volatility for Direxion Daily Real Estate Bull 3x Shares (DRN) is 14.29%, while Direxion Daily Mid Cap Bull 3X Shares (MIDU) has a volatility of 15.07%. This indicates that DRN experiences smaller price fluctuations and is considered to be less risky than MIDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DRNMIDUDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.29%

15.07%

-0.78%

Volatility (6M)

Calculated over the trailing 6-month period

30.42%

34.90%

-4.48%

Volatility (1Y)

Calculated over the trailing 1-year period

41.19%

47.43%

-6.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

56.78%

59.59%

-2.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

60.68%

63.65%

-2.97%

DRN vs. MIDU - Expense Ratio Comparison

DRN has a 0.99% expense ratio, which is lower than MIDU's 1.06% expense ratio.

Dividends

DRN vs. MIDU - Dividend Comparison

DRN's dividend yield for the trailing twelve months is around 1.98%, more than MIDU's 0.63% yield.

PositionTTM2025202420232022202120202019201820172016
DRN
Direxion Daily Real Estate Bull 3x Shares		1.98%2.81%2.24%2.84%2.70%4.21%1.90%2.59%3.11%0.91%0.00%
MIDU
Direxion Daily Mid Cap Bull 3X Shares		0.63%1.04%1.10%1.43%0.11%0.00%0.06%0.71%0.70%2.67%1.89%

Frequently Asked Questions

DRN and MIDU 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.

MIDU has higher volatility (15.07%) compared to DRN (14.29%). In terms of maximum drawdown, DRN dropped -86.32% vs MIDU's -86.26%.

On 10-year performance, MIDU leads with 12.76% vs -3.96% for DRN. On fees, DRN is cheaper at 0.99% per year. On volatility, DRN has been the lower-risk option at 14.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MIDU has performed better with a 12.76% return vs -3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DRN is cheaper with a 0.99% expense ratio, compared with 1.06% for MIDU.

DRN has the higher dividend yield at 1.98%, compared with 0.63% for MIDU.

DRN is categorized as REIT, while MIDU is Leveraged Equities. DRN tracks MSCI US REIT Index (300%), while MIDU tracks S&P MidCap 400 Index (300%). Their fees differ too: 0.99% for DRN and 1.06% for MIDU.

MIDU currently has the higher Sharpe Ratio (1.42 vs 0.40), 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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