DRN vs. RWR
DRN (Direxion Daily Real Estate Bull 3x Shares) and RWR (SPDR Dow Jones REIT ETF) are both REIT funds - DRN tracks the MSCI US REIT Index (300%) while RWR tracks the Dow Jones U.S. Select REIT Index. Both are passively managed. Over the past 10 years, DRN returned -4.65%/yr vs 5.51%/yr for RWR. With a 0.98 correlation, they move nearly in lockstep. DRN charges 0.99%/yr vs 0.25%/yr for RWR.
Performance
DRN vs. RWR - Performance Comparison
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Returns By Period
In the year-to-date period, DRN achieves a 29.87% return, which is significantly higher than RWR's 16.14% return. Over the past 10 years, DRN has underperformed RWR with an annualized return of -4.65%, while RWR has yielded a comparatively higher 5.51% annualized return.
DRN
- 1D
- 3.48%
- 1M
- 0.92%
- YTD
- 29.87%
- 6M
- 31.25%
- 1Y
- 12.29%
- 3Y*
- 12.52%
- 5Y*
- -10.17%
- 10Y*
- -4.65%
RWR
- 1D
- 1.31%
- 1M
- 1.96%
- YTD
- 16.14%
- 6M
- 16.59%
- 1Y
- 19.02%
- 3Y*
- 13.63%
- 5Y*
- 4.96%
- 10Y*
- 5.51%
DRN vs. RWR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 29.87% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
RWR SPDR Dow Jones REIT ETF | 16.14% | 3.20% | 7.74% | 13.76% | -26.09% | 45.47% | -11.40% | 22.71% | -4.47% | 3.47% |
Correlation
The correlation between DRN and RWR 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 (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | 0.98 |
The correlation between DRN and RWR has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
DRN vs. RWR — Risk / Return Rank
DRN
RWR
DRN vs. RWR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bull 3x Shares (DRN) and SPDR Dow Jones REIT ETF (RWR). 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 | RWR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.24 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 2.38 | -1.87 |
| Martin ratioReturn relative to average drawdown | 1.12 | 8.03 | -6.91 |
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Drawdowns
DRN vs. RWR - Drawdown Comparison
The maximum DRN drawdown since its inception was -86.32%, which is greater than RWR's maximum drawdown of -74.92%. Use the drawdown chart below to compare losses from any high point for DRN and RWR.
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Drawdown Indicators
| DRN | RWR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.32% | -74.92% | -11.40% |
Max Drawdown (1Y)Largest decline over 1 year | -24.28% | -8.04% | -16.24% |
Max Drawdown (3Y)Largest decline over 3 years | -48.26% | -18.85% | -29.41% |
Max Drawdown (5Y)Largest decline over 5 years | -80.58% | -32.58% | -48.00% |
Max Drawdown (10Y)Largest decline over 10 years | -86.32% | -44.39% | -41.93% |
Current DrawdownCurrent decline from peak | -62.97% | -0.46% | -62.51% |
Average DrawdownAverage peak-to-trough decline | -35.15% | -13.08% | -22.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.95% | 2.38% | +8.57% |
Volatility
DRN vs. RWR - Volatility Comparison
Direxion Daily Real Estate Bull 3x Shares (DRN) has a higher volatility of 15.77% compared to SPDR Dow Jones REIT ETF (RWR) at 5.42%. This indicates that DRN's price experiences larger fluctuations and is considered to be riskier than RWR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRN | RWR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.77% | 5.42% | +10.35% |
Volatility (6M)Calculated over the trailing 6-month period | 31.71% | 10.37% | +21.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.14% | 14.05% | +28.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.85% | 19.05% | +37.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.77% | 21.55% | +39.22% |
DRN vs. RWR - Expense Ratio Comparison
DRN has a 0.99% expense ratio, which is higher than RWR's 0.25% expense ratio.
Dividends
DRN vs. RWR - Dividend Comparison
DRN's dividend yield for the trailing twelve months is around 2.05%, less than RWR's 3.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 2.05% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% | 0.00% | 0.00% |
RWR SPDR Dow Jones REIT ETF | 3.36% | 3.78% | 3.76% | 3.75% | 3.81% | 2.79% | 3.73% | 3.36% | 4.19% | 3.05% | 4.39% | 3.17% |
Frequently Asked Questions
With a correlation of 0.93, DRN and RWR 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 (15.77%) compared to RWR (5.42%). In terms of maximum drawdown, DRN dropped -86.32% vs RWR's -74.92%.
On 10-year performance, RWR leads with 5.51% vs -4.65% for DRN. On fees, RWR is cheaper at 0.25% per year. On volatility, RWR has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RWR has performed better with a 5.51% return vs -4.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RWR is cheaper with a 0.25% expense ratio, compared with 0.99% for DRN.
RWR has the higher dividend yield at 3.36%, compared with 2.05% for DRN.
DRN tracks MSCI US REIT Index (300%), while RWR tracks Dow Jones U.S. Select REIT Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 0.99% for DRN and 0.25% for RWR.
RWR currently has the higher Sharpe Ratio (1.37 vs 0.29), 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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