DRN vs. URE
DRN (Direxion Daily Real Estate Bull 3x Shares) and URE (ProShares Ultra Real Estate) are both REIT funds - DRN tracks the MSCI US REIT Index (300%) while URE tracks the Dow Jones U.S. Real Estate Index (200%). Both are passively managed. Over the past 10 years, DRN returned -4.97%/yr vs 3.00%/yr for URE. With a 0.99 correlation, they move nearly in lockstep. DRN charges 0.99%/yr vs 0.95%/yr for URE.
Performance
DRN vs. URE - Performance Comparison
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Returns By Period
In the year-to-date period, DRN achieves a 25.50% return, which is significantly higher than URE's 17.89% return. Over the past 10 years, DRN has underperformed URE with an annualized return of -4.97%, while URE has yielded a comparatively higher 3.00% annualized return.
DRN
- 1D
- 3.81%
- 1M
- -2.48%
- YTD
- 25.50%
- 6M
- 26.99%
- 1Y
- 12.78%
- 3Y*
- 11.24%
- 5Y*
- -10.91%
- 10Y*
- -4.97%
URE
- 1D
- 2.64%
- 1M
- -1.59%
- YTD
- 17.89%
- 6M
- 18.91%
- 1Y
- 11.42%
- 3Y*
- 11.65%
- 5Y*
- -3.55%
- 10Y*
- 3.00%
DRN vs. URE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 25.50% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
URE ProShares Ultra Real Estate | 17.89% | -3.65% | 0.35% | 11.58% | -49.64% | 88.24% | -28.06% | 57.86% | -13.80% | 16.56% |
Correlation
The correlation between DRN and URE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | 0.99 |
The correlation between DRN and URE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
DRN vs. URE — Risk / Return Rank
DRN
URE
DRN vs. URE - 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 Real Estate (URE). 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 | URE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.09 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 0.70 | -0.17 |
| Martin ratioReturn relative to average drawdown | 1.17 | 1.67 | -0.50 |
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Drawdowns
DRN vs. URE - Drawdown Comparison
The maximum DRN drawdown since its inception was -86.32%, smaller than the maximum URE drawdown of -97.16%. Use the drawdown chart below to compare losses from any high point for DRN and URE.
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Drawdown Indicators
| DRN | URE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.32% | -97.16% | +10.84% |
Max Drawdown (1Y)Largest decline over 1 year | -24.28% | -16.50% | -7.78% |
Max Drawdown (3Y)Largest decline over 3 years | -48.26% | -33.77% | -14.49% |
Max Drawdown (5Y)Largest decline over 5 years | -80.58% | -63.66% | -16.92% |
Max Drawdown (10Y)Largest decline over 10 years | -86.32% | -70.49% | -15.83% |
Current DrawdownCurrent decline from peak | -64.22% | -51.05% | -13.17% |
Average DrawdownAverage peak-to-trough decline | -35.14% | -64.47% | +29.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.95% | 6.86% | +4.09% |
Volatility
DRN vs. URE - Volatility Comparison
Direxion Daily Real Estate Bull 3x Shares (DRN) has a higher volatility of 15.38% compared to ProShares Ultra Real Estate (URE) at 10.25%. This indicates that DRN's price experiences larger fluctuations and is considered to be riskier than URE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRN | URE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.38% | 10.25% | +5.13% |
Volatility (6M)Calculated over the trailing 6-month period | 31.62% | 21.15% | +10.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.08% | 28.12% | +13.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.83% | 37.41% | +19.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.77% | 40.64% | +20.13% |
DRN vs. URE - Expense Ratio Comparison
DRN has a 0.99% expense ratio, which is higher than URE's 0.95% expense ratio.
Dividends
DRN vs. URE - Dividend Comparison
DRN's dividend yield for the trailing twelve months is around 2.12%, more than URE's 1.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 2.12% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% | 0.00% | 0.00% |
URE ProShares Ultra Real Estate | 1.98% | 2.42% | 2.09% | 1.32% | 1.26% | 0.58% | 0.94% | 1.10% | 1.53% | 0.93% | 0.96% | 0.81% |
Frequently Asked Questions
With a correlation of 0.99, DRN and URE 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 (15.38%) compared to URE (10.25%). In terms of maximum drawdown, DRN dropped -86.32% vs URE's -97.16%.
On 10-year performance, URE leads with 3.00% vs -4.97% for DRN. On fees, URE is cheaper at 0.95% per year. On volatility, URE has been the lower-risk option at 10.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, URE has performed better with a 3.00% return vs -4.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
URE is cheaper with a 0.95% expense ratio, compared with 0.99% for DRN.
DRN has the higher dividend yield at 2.12%, compared with 1.98% for URE.
DRN tracks MSCI US REIT Index (300%), while URE tracks Dow Jones U.S. Real Estate Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for DRN and 0.95% for URE.
URE currently has the higher Sharpe Ratio (0.41 vs 0.31), 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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