DRN vs. UMDD

Last updated Jun 9, 2026

DRN (Direxion Daily Real Estate Bull 3x Shares) and UMDD (ProShares UltraPro MidCap400) are both exchange-traded funds - DRN is a REIT fund tracking the MSCI US REIT Index (300%), while UMDD is a Leveraged Equities fund tracking the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 10 years, DRN returned -4.83%/yr vs 11.46%/yr for UMDD. A 0.65 correlation means they provide meaningful diversification when combined. DRN charges 0.99%/yr vs 0.95%/yr for UMDD.

Performance

DRN vs. UMDD - 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 MidCap400 (UMDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRN achieves a 23.49% return, which is significantly lower than UMDD's 31.54% return. Over the past 10 years, DRN has underperformed UMDD with an annualized return of -4.83%, while UMDD has yielded a comparatively higher 11.46% annualized return.

DRN

• 1D: -4.47%
• 1M: -3.86%
• YTD: 23.49%
• 6M: 23.07%
• 1Y: 9.95%
• 3Y*: 7.81%
• 5Y*: -12.09%
• 10Y*: -4.83%

UMDD

• 1D: 0.43%
• 1M: -0.66%
• YTD: 31.54%
• 6M: 30.82%
• 1Y: 55.88%
• 3Y*: 22.44%
• 5Y*: 1.30%
• 10Y*: 11.46%

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

DRN vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRN Direxion Daily Real Estate Bull 3x Shares	23.49%	-11.24%	-5.29%	12.03%	-67.26%	152.94%	-55.37%	81.86%	-25.11%	7.50%
UMDD ProShares UltraPro MidCap400	31.54%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	49.17%

Correlation

The correlation between DRN and UMDD 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	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.65

The correlation between DRN and UMDD shifts across timeframes, from 0.51 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

DRN vs. UMDD - Sectors Allocation Comparison

Sectors	DRN	UMDD
Real Estate	19.8%	3.9%
Basic Materials	0.4%	2.6%
Communication Services	-	0.5%
Consumer Cyclical	-	5.1%
Consumer Defensive	-	2.2%
Energy	-	2.7%
Financial Services	-	7.1%
Healthcare	-	4.8%
Industrials	-	13.4%
Technology	-	9.0%
Utilities	-	1.6%

Return for Risk

DRN vs. UMDD — Risk / Return Rank

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

DRN

DRN Risk / Return Rank: 14
DRN Sharpe Ratio Rank: 13
DRN Sortino Ratio Rank: 15
DRN Omega Ratio Rank: 15
DRN Calmar Ratio Rank: 14
DRN Martin Ratio Rank: 14

UMDD

UMDD Risk / Return Rank: 42
UMDD Sharpe Ratio Rank: 37
UMDD Sortino Ratio Rank: 39
UMDD Omega Ratio Rank: 37
UMDD Calmar Ratio Rank: 48
UMDD Martin Ratio Rank: 48

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. UMDD - 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 MidCap400 (UMDD). 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	UMDD	Difference
Sharpe ratio: Return per unit of total volatility	0.25	1.20	-0.95
Sortino ratio: Return per unit of downside risk	0.60	1.80	-1.20
Omega ratio: Gain probability vs. loss probability	1.08	1.22	-0.14
Calmar ratio: Return relative to maximum drawdown	0.41	2.16	-1.74
Martin ratio: Return relative to average drawdown	0.91	7.21	-6.29
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. UMDD - Sharpe Ratio Comparison

The current DRN Sharpe Ratio is 0.25, which is lower than the UMDD Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of DRN and UMDD, 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	UMDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.25	1.20	-0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.21	0.02	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	0.18	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.32	-0.10

Drawdowns

DRN vs. UMDD - Drawdown Comparison

The maximum DRN drawdown since its inception was -86.32%, roughly equal to the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for DRN and UMDD.

Drawdown Indicators

	DRN	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-86.32%	-86.24%	-0.08%
Max Drawdown (1Y) Largest decline over 1 year	-24.28%	-26.04%	+1.76%
Max Drawdown (3Y) Largest decline over 3 years	-48.26%	-60.33%	+12.07%
Max Drawdown (5Y) Largest decline over 5 years	-80.58%	-64.61%	-15.97%
Max Drawdown (10Y) Largest decline over 10 years	-86.32%	-86.24%	-0.08%
Current Drawdown Current decline from peak	-64.79%	-9.91%	-54.88%
Average Drawdown Average peak-to-trough decline	-35.09%	-23.60%	-11.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.92%	7.78%	+3.14%

Volatility

DRN vs. UMDD - Volatility Comparison

Direxion Daily Real Estate Bull 3x Shares (DRN) and ProShares UltraPro MidCap400 (UMDD) have volatilities of 12.91% and 12.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRN	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.91%	12.43%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	29.87%	34.70%	-4.83%
Volatility (1Y) Calculated over the trailing 1-year period	40.83%	47.01%	-6.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.73%	58.96%	-2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.66%	62.31%	-1.65%

DRN vs. UMDD - Expense Ratio Comparison

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

Dividends

DRN vs. UMDD - Dividend Comparison

DRN's dividend yield for the trailing twelve months is around 2.16%, more than UMDD's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRN Direxion Daily Real Estate Bull 3x Shares	2.16%	2.81%	2.24%	2.84%	2.70%	4.21%	1.90%	2.59%	3.11%	0.91%	0.00%	0.00%
UMDD ProShares UltraPro MidCap400	0.80%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%

Frequently Asked Questions

Can I hold both DRN and UMDD in my portfolio?

DRN and UMDD 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.

Which is riskier, DRN or UMDD?

DRN has higher volatility (12.91%) compared to UMDD (12.43%). In terms of maximum drawdown, DRN dropped -86.32% vs UMDD's -86.24%.

Which ETF is better, DRN or UMDD?

On 10-year performance, UMDD leads with 11.46% vs -4.83% for DRN. On fees, UMDD is cheaper at 0.95% per year. On volatility, UMDD has been the lower-risk option at 12.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRN or UMDD?

Over the 10-year period, UMDD has performed better with a 11.46% return vs -4.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRN or UMDD?

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

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

DRN has the higher dividend yield at 2.16%, compared with 0.80% for UMDD.

What is the main difference between DRN and UMDD?

DRN is categorized as REIT, while UMDD is Leveraged Equities. DRN tracks MSCI US REIT Index (300%), while UMDD tracks S&P MidCap 400 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for DRN and 0.95% for UMDD.

Which has better risk-adjusted returns?

UMDD currently has the higher Sharpe Ratio (1.20 vs 0.25), 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.