DRN vs. UGE

Last updated Jun 13, 2026

DRN (Direxion Daily Real Estate Bull 3x Shares) and UGE (ProShares Ultra Consumer Goods) are both exchange-traded funds - DRN is a REIT fund tracking the MSCI US REIT Index (300%), while UGE is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (200%). Both are passively managed. Over the past 10 years, DRN returned -3.96%/yr vs 8.80%/yr for UGE. A 0.54 correlation means they provide meaningful diversification when combined. DRN charges 0.99%/yr vs 0.95%/yr for UGE.

Performance

DRN vs. UGE - 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 Ultra Consumer Goods (UGE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRN achieves a 34.24% return, which is significantly higher than UGE's 18.88% return. Over the past 10 years, DRN has underperformed UGE with an annualized return of -3.96%, while UGE has yielded a comparatively higher 8.80% 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%

UGE

• 1D: 1.08%
• 1M: 1.97%
• YTD: 18.88%
• 6M: 15.24%
• 1Y: 7.12%
• 3Y*: 7.90%
• 5Y*: -1.08%
• 10Y*: 8.80%

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

DRN vs. UGE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
UGE ProShares Ultra Consumer Goods	18.88%	-5.21%	16.40%	2.38%	-46.78%	42.44%	56.64%	58.28%	-30.14%	32.38%

Correlation

The correlation between DRN and UGE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009	0.54

The correlation between DRN and UGE has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.

DRN vs. UGE - Sectors Allocation Comparison

Sectors	DRN	UGE
Real Estate	19.8%	-
Basic Materials	0.4%	-
Communication Services	-	-
Consumer Cyclical	-	1.0%
Consumer Defensive	-	99.0%
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

DRN vs. UGE — Risk / Return Rank

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

DRN

DRN Risk / Return Rank: 17
DRN Sharpe Ratio Rank: 16
DRN Sortino Ratio Rank: 17
DRN Omega Ratio Rank: 17
DRN Calmar Ratio Rank: 19
DRN Martin Ratio Rank: 17

UGE

UGE Risk / Return Rank: 14
UGE Sharpe Ratio Rank: 14
UGE Sortino Ratio Rank: 14
UGE Omega Ratio Rank: 14
UGE Calmar Ratio Rank: 14
UGE Martin Ratio Rank: 13

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. UGE - 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 Ultra Consumer Goods (UGE). 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	UGE	Difference
Sharpe ratio: Return per unit of total volatility	0.40	0.28	+0.12
Sortino ratio: Return per unit of downside risk	0.81	0.58	+0.22
Omega ratio: Gain probability vs. loss probability	1.10	1.07	+0.03
Calmar ratio: Return relative to maximum drawdown	0.68	0.38	+0.30
Martin ratio: Return relative to average drawdown	1.51	0.67	+0.84

DRN vs. UGE - Sharpe Ratio Comparison

The current DRN Sharpe Ratio is 0.40, which is higher than the UGE Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of DRN and UGE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DRN vs. UGE - Drawdown Comparison

The maximum DRN drawdown since its inception was -86.32%, which is greater than UGE's maximum drawdown of -71.36%. Use the drawdown chart below to compare losses from any high point for DRN and UGE.

Drawdown Indicators

	DRN	UGE	Difference
Max Drawdown Largest peak-to-trough decline	-86.32%	-71.36%	-14.96%
Max Drawdown (1Y) Largest decline over 1 year	-24.28%	-18.95%	-5.33%
Max Drawdown (3Y) Largest decline over 3 years	-48.26%	-24.80%	-23.46%
Max Drawdown (5Y) Largest decline over 5 years	-80.58%	-56.55%	-24.03%
Max Drawdown (10Y) Largest decline over 10 years	-86.32%	-57.14%	-29.18%
Current Drawdown Current decline from peak	-61.73%	-32.84%	-28.89%
Average Drawdown Average peak-to-trough decline	-35.11%	-18.75%	-16.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.92%	10.64%	+0.28%

Volatility

DRN vs. UGE - Volatility Comparison

Direxion Daily Real Estate Bull 3x Shares (DRN) has a higher volatility of 14.29% compared to ProShares Ultra Consumer Goods (UGE) at 8.67%. This indicates that DRN's price experiences larger fluctuations and is considered to be riskier than UGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRN	UGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.29%	8.67%	+5.62%
Volatility (6M) Calculated over the trailing 6-month period	30.42%	20.01%	+10.41%
Volatility (1Y) Calculated over the trailing 1-year period	41.19%	25.39%	+15.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.78%	31.37%	+25.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.68%	33.11%	+27.57%

DRN vs. UGE - Expense Ratio Comparison

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

Dividends

DRN vs. UGE - Dividend Comparison

DRN's dividend yield for the trailing twelve months is around 1.98%, less than UGE's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
UGE ProShares Ultra Consumer Goods	2.05%	2.54%	1.43%	1.20%	0.74%	0.20%	0.41%	0.86%	0.76%	0.68%	0.76%	0.60%

Frequently Asked Questions

Can I hold both DRN and UGE in my portfolio?

DRN and UGE have a correlation of 0.49, 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 UGE?

DRN has higher volatility (14.29%) compared to UGE (8.67%). In terms of maximum drawdown, DRN dropped -86.32% vs UGE's -71.36%.

Which ETF is better, DRN or UGE?

On 10-year performance, UGE leads with 8.80% vs -3.96% for DRN. On fees, UGE is cheaper at 0.95% per year. On volatility, UGE has been the lower-risk option at 8.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRN or UGE?

Over the 10-year period, UGE has performed better with a 8.80% return vs -3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRN or UGE?

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

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

UGE has the higher dividend yield at 2.05%, compared with 1.98% for DRN.

What is the main difference between DRN and UGE?

DRN is categorized as REIT, while UGE is Leveraged Equities. DRN tracks MSCI US REIT Index (300%), while UGE tracks Dow Jones U.S. Consumer Goods Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for DRN and 0.95% for UGE.

Which has better risk-adjusted returns?

DRN currently has the higher Sharpe Ratio (0.40 vs 0.28), 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.