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DRN vs. UDOW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DRN vs. UDOW

Last updated Jun 13, 2026

DRN (Direxion Daily Real Estate Bull 3x Shares) and UDOW (ProShares UltraPro Dow30) are both exchange-traded funds - DRN is a REIT fund tracking the MSCI US REIT Index (300%), while UDOW is a Leveraged Equities fund tracking the Dow Jones Industrial Average (300%). Both are passively managed. Over the past 10 years, DRN returned -3.96%/yr vs 23.82%/yr for UDOW. A 0.60 correlation means they provide meaningful diversification when combined. DRN charges 0.99%/yr vs 0.95%/yr for UDOW.

Performance

DRN vs. UDOW - 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 Dow30 (UDOW). 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 higher than UDOW's 14.65% return. Over the past 10 years, DRN has underperformed UDOW with an annualized return of -3.96%, while UDOW has yielded a comparatively higher 23.82% 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%

UDOW

1D
2.07%
1M
8.49%
YTD
14.65%
6M
11.42%
1Y
51.98%
3Y*
32.31%
5Y*
13.79%
10Y*
23.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DRN vs. UDOW - 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%
UDOW
ProShares UltraPro Dow30		14.65%24.46%28.47%32.72%-32.39%65.67%-17.15%75.24%-23.86%99.07%

Correlation

The correlation between DRN and UDOW is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.47

Correlation (3Y)
Calculated over the trailing 3-year period

0.55

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

0.63

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

0.56

Correlation (All Time)
Calculated using the full available price history since Feb 11, 2010

0.60

The correlation between DRN and UDOW shifts across timeframes, from 0.47 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.

DRN vs. UDOW - Sectors Allocation Comparison

Sectors
DRN
UDOW

Real Estate

19.8%

-

Basic Materials

0.4%
4.0%

Communication Services

-

1.9%

Consumer Cyclical

-

11.6%

Consumer Defensive

-

4.4%

Energy

-

2.4%

Financial Services

-

27.2%

Healthcare

-

13.1%

Industrials

-

18.4%

Technology

-

17.1%

Utilities

-

-

Real Estate

DRN
19.8%
UDOW

-

Basic Materials

DRN
0.4%
UDOW
4.0%

Communication Services

DRN

-

UDOW
1.9%

Consumer Cyclical

DRN

-

UDOW
11.6%

Consumer Defensive

DRN

-

UDOW
4.4%

Energy

DRN

-

UDOW
2.4%

Financial Services

DRN

-

UDOW
27.2%

Healthcare

DRN

-

UDOW
13.1%

Industrials

DRN

-

UDOW
18.4%

Technology

DRN

-

UDOW
17.1%

Utilities

DRN

-

UDOW

-

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Direxion Daily Real Estate Bull 3x Shares

ProShares UltraPro Dow30

Often compared with DRN:
DRN vs. DRVDRN vs. UREDRN vs. XHBDRN vs. ITBDRN vs. PAVEDRN vs. DPSTDRN vs. TECL
Often compared with UDOW:
UDOW vs. TQQQUDOW vs. DIAUDOW vs. DDMUDOW vs. SDOWUDOW vs. UPROUDOW vs. SPYUDOW vs. DUSL

Return for Risk

DRN vs. UDOW — 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
UDOW
UDOW Risk / Return Rank: 4444
Overall Rank
UDOW Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
UDOW Sortino Ratio Rank: 4444
Sortino Ratio Rank
UDOW Omega Ratio Rank: 4141
Omega Ratio Rank
UDOW Calmar Ratio Rank: 4242
Calmar Ratio Rank
UDOW Martin Ratio Rank: 4545
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. UDOW - 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 Dow30 (UDOW). 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.

DRNUDOWDifference
Sharpe ratioReturn per unit of total volatility
0.40
1.40

-1.00

Sortino ratioReturn per unit of downside risk
0.81
1.99

-1.19

Omega ratioGain probability vs. loss probability

1.10

1.24

-0.14

Calmar ratioReturn relative to maximum drawdown

0.68

1.86

-1.18

Martin ratioReturn relative to average drawdown

1.51

6.59

-5.08

DRN vs. UDOW - Sharpe Ratio Comparison

The current DRN Sharpe Ratio is 0.40, which is lower than the UDOW Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of DRN and UDOW, 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. UDOW - Drawdown Comparison

The maximum DRN drawdown since its inception was -86.32%, which is greater than UDOW's maximum drawdown of -80.29%. Use the drawdown chart below to compare losses from any high point for DRN and UDOW.

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Drawdown Indicators

DRNUDOWDifference

Max Drawdown

Largest peak-to-trough decline

-86.32%

-80.29%

-6.03%

Max Drawdown (1Y)

Largest decline over 1 year

-24.28%

-28.07%

+3.79%

Max Drawdown (3Y)

Largest decline over 3 years

-48.26%

-44.83%

-3.43%

Max Drawdown (5Y)

Largest decline over 5 years

-80.58%

-55.79%

-24.79%

Max Drawdown (10Y)

Largest decline over 10 years

-86.32%

-80.29%

-6.03%

Current Drawdown

Current decline from peak

-61.73%

-2.65%

-59.08%

Average Drawdown

Average peak-to-trough decline

-35.11%

-14.37%

-20.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.92%

7.94%

+2.98%

Volatility

DRN vs. UDOW - Volatility Comparison

Direxion Daily Real Estate Bull 3x Shares (DRN) has a higher volatility of 14.29% compared to ProShares UltraPro Dow30 (UDOW) at 12.92%. This indicates that DRN's price experiences larger fluctuations and is considered to be riskier than UDOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DRNUDOWDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.29%

12.92%

+1.37%

Volatility (6M)

Calculated over the trailing 6-month period

30.42%

29.12%

+1.30%

Volatility (1Y)

Calculated over the trailing 1-year period

41.19%

37.38%

+3.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

56.78%

44.39%

+12.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

60.68%

51.84%

+8.84%

DRN vs. UDOW - Expense Ratio Comparison

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

Dividends

DRN vs. UDOW - Dividend Comparison

DRN's dividend yield for the trailing twelve months is around 1.98%, more than UDOW's 1.18% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%
UDOW
ProShares UltraPro Dow30		1.18%1.38%0.95%0.95%0.83%0.26%0.19%0.61%0.73%0.13%0.26%0.21%

Frequently Asked Questions

DRN and UDOW have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DRN has higher volatility (14.29%) compared to UDOW (12.92%). In terms of maximum drawdown, DRN dropped -86.32% vs UDOW's -80.29%.

On 10-year performance, UDOW leads with 23.82% vs -3.96% for DRN. On fees, UDOW is cheaper at 0.95% per year. On volatility, UDOW has been the lower-risk option at 12.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UDOW has performed better with a 23.82% return vs -3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

DRN has the higher dividend yield at 1.98%, compared with 1.18% for UDOW.

DRN is categorized as REIT, while UDOW is Leveraged Equities. DRN tracks MSCI US REIT Index (300%), while UDOW tracks Dow Jones Industrial Average (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for DRN and 0.95% for UDOW.

UDOW currently has the higher Sharpe Ratio (1.40 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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