DRN vs. TQQQ

Last updated Jun 4, 2026

DRN (Direxion Daily Real Estate Bull 3x Shares) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - DRN is a REIT fund tracking the MSCI US REIT Index (300%), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, DRN returned -5.09%/yr vs 45.33%/yr for TQQQ. At a 0.48 correlation, their price movements are largely independent. DRN charges 0.99%/yr vs 0.95%/yr for TQQQ.

Performance

DRN vs. TQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, DRN achieves a 19.48% return, which is significantly lower than TQQQ's 64.46% return. Over the past 10 years, DRN has underperformed TQQQ with an annualized return of -5.09%, while TQQQ has yielded a comparatively higher 45.33% 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%

TQQQ

• 1D: -0.76%
• 1M: 33.35%
• YTD: 64.46%
• 6M: 55.93%
• 1Y: 137.89%
• 3Y*: 69.49%
• 5Y*: 28.37%
• 10Y*: 45.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DRN vs. TQQQ - 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%
TQQQ ProShares UltraPro QQQ	64.46%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between DRN and TQQQ is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010	0.48

Over the past year, the correlation between DRN and TQQQ has dropped to 0.17 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

DRN vs. TQQQ - Sectors Allocation Comparison

Sectors	DRN	TQQQ
Real Estate	19.6%	0.1%
Basic Materials	0.4%	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Industrials	-	2.8%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

DRN vs. TQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DRN

DRN Risk / Return Rank: 12
DRN Sharpe Ratio Rank: 11
DRN Sortino Ratio Rank: 12
DRN Omega Ratio Rank: 13
DRN Calmar Ratio Rank: 12
DRN Martin Ratio Rank: 12

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

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. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bull 3x Shares (DRN) and ProShares UltraPro QQQ (TQQQ). 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	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.20	2.92	-2.72
Sortino ratio: Return per unit of downside risk	0.53	3.09	-2.55
Omega ratio: Gain probability vs. loss probability	1.07	1.40	-0.34
Calmar ratio: Return relative to maximum drawdown	0.32	3.75	-3.43
Martin ratio: Return relative to average drawdown	0.72	12.27	-11.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRN vs. TQQQ - Sharpe Ratio Comparison

The current DRN Sharpe Ratio is 0.20, which is lower than the TQQQ Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of DRN and TQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DRN	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	2.92	-2.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	0.43	-0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	0.69	-0.77
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.74	-0.53

Drawdowns

DRN vs. TQQQ - Drawdown Comparison

The maximum DRN drawdown since its inception was -86.32%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for DRN and TQQQ.

Drawdown Indicators

	DRN	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-86.32%	-81.66%	-4.66%
Max Drawdown (1Y) Largest decline over 1 year	-24.28%	-36.97%	+12.69%
Max Drawdown (3Y) Largest decline over 3 years	-48.26%	-58.04%	+9.78%
Max Drawdown (5Y) Largest decline over 5 years	-80.58%	-81.66%	+1.08%
Max Drawdown (10Y) Largest decline over 10 years	-86.32%	-81.66%	-4.66%
Current Drawdown Current decline from peak	-65.93%	-0.76%	-65.17%
Average Drawdown Average peak-to-trough decline	-35.07%	-18.52%	-16.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.91%	11.28%	-0.37%

Volatility

DRN vs. TQQQ - Volatility Comparison

The current volatility for Direxion Daily Real Estate Bull 3x Shares (DRN) is 11.13%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.29%. This indicates that DRN experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRN	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.13%	13.29%	-2.16%
Volatility (6M) Calculated over the trailing 6-month period	28.89%	36.04%	-7.15%
Volatility (1Y) Calculated over the trailing 1-year period	40.04%	47.60%	-7.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.65%	66.53%	-9.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.61%	65.96%	-5.35%

DRN vs. TQQQ - Expense Ratio Comparison

DRN has a 0.99% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

Dividends

DRN vs. TQQQ - Dividend Comparison

DRN's dividend yield for the trailing twelve months is around 2.23%, more than TQQQ's 0.36% 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%
TQQQ ProShares UltraPro QQQ	0.36%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both DRN and TQQQ in my portfolio?

DRN and TQQQ have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRN or TQQQ?

TQQQ has higher volatility (13.29%) compared to DRN (11.13%). In terms of maximum drawdown, DRN dropped -86.32% vs TQQQ's -81.66%.

Which ETF is better, DRN or TQQQ?

On 10-year performance, TQQQ leads with 45.33% vs -5.09% for DRN. On fees, TQQQ is cheaper at 0.95% per year. On volatility, DRN has been the lower-risk option at 11.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRN or TQQQ?

Over the 10-year period, TQQQ has performed better with a 45.33% return vs -5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRN or TQQQ?

TQQQ is cheaper with a 0.95% expense ratio, compared with 0.99% for DRN.

Which ETF pays a higher dividend yield, DRN or TQQQ?

DRN has the higher dividend yield at 2.23%, compared with 0.36% for TQQQ.

What is the main difference between DRN and TQQQ?

DRN is categorized as REIT, while TQQQ is Leveraged Equities. DRN tracks MSCI US REIT Index (300%), while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for DRN and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 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.