DRN vs. UUP
DRN (Direxion Daily Real Estate Bull 3x Shares) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - DRN is a REIT fund tracking the MSCI US REIT Index (300%), while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 10 years, DRN returned -6.30%/yr vs 3.17%/yr for UUP. At a correlation of -0.23, they often move in opposite directions. DRN charges 0.99%/yr vs 0.75%/yr for UUP.
Performance
DRN vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, DRN achieves a 29.86% return, which is significantly higher than UUP's 5.44% return. Over the past 10 years, DRN has underperformed UUP with an annualized return of -6.30%, while UUP has yielded a comparatively higher 3.17% annualized return.
DRN
- 1D
- 1.48%
- 1M
- -3.26%
- 6M
- 27.76%
- YTD
- 29.86%
- 1Y
- 16.43%
- 3Y*
- 4.43%
- 5Y*
- -11.67%
- 10Y*
- -6.30%
UUP
- 1D
- 0.39%
- 1M
- 1.97%
- 6M
- 4.47%
- YTD
- 5.44%
- 1Y
- 8.28%
- 3Y*
- 5.86%
- 5Y*
- 5.89%
- 10Y*
- 3.17%
DRN vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 29.86% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.63% | 9.46% | 5.73% | -6.66% | 4.09% | 7.05% | -9.10% |
Correlation
The correlation between DRN and UUP is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | -0.23 |
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Return for Risk
DRN vs. UUP — Risk / Return Rank
DRN
UUP
DRN vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bull 3x Shares (DRN) and Invesco DB US Dollar Index Bullish Fund (UUP). 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 | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.99 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.25 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 2.28 | -1.60 |
| Martin ratioReturn relative to average drawdown | 1.51 | 6.26 | -4.75 |
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Drawdowns
DRN vs. UUP - Drawdown Comparison
The maximum DRN drawdown since its inception was -86.32%, which is greater than UUP's maximum drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for DRN and UUP.
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Drawdown Indicators
| DRN | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.32% | -22.19% | -64.13% |
Max Drawdown (1Y)Largest decline over 1 year | -24.28% | -3.65% | -20.63% |
Max Drawdown (3Y)Largest decline over 3 years | -48.26% | -10.05% | -38.21% |
Max Drawdown (5Y)Largest decline over 5 years | -80.58% | -10.37% | -70.21% |
Max Drawdown (10Y)Largest decline over 10 years | -86.32% | -14.24% | -72.08% |
Current DrawdownCurrent decline from peak | -62.98% | -1.26% | -61.72% |
Average DrawdownAverage peak-to-trough decline | -35.23% | -8.88% | -26.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.91% | 1.33% | +9.58% |
Volatility
DRN vs. UUP - Volatility Comparison
Direxion Daily Real Estate Bull 3x Shares (DRN) has a higher volatility of 15.53% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 1.45%. This indicates that DRN's price experiences larger fluctuations and is considered to be riskier than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRN | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.53% | 1.45% | +14.08% |
Volatility (6M)Calculated over the trailing 6-month period | 33.02% | 4.34% | +28.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.58% | 6.03% | +36.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.94% | 7.22% | +49.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.77% | 6.90% | +53.87% |
DRN vs. UUP - Expense Ratio Comparison
DRN has a 0.99% expense ratio, which is higher than UUP's 0.75% expense ratio.
Dividends
DRN vs. UUP - Dividend Comparison
DRN's dividend yield for the trailing twelve months is around 1.90%, less than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 1.90% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.25% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
DRN and UUP have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRN has higher volatility (15.53%) compared to UUP (1.45%). In terms of maximum drawdown, DRN dropped -86.32% vs UUP's -22.19%.
On 10-year performance, UUP leads with 3.17% vs -6.30% for DRN. On fees, UUP is cheaper at 0.75% per year. On volatility, UUP has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UUP has performed better with a 3.17% return vs -6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UUP is cheaper with a 0.75% expense ratio, compared with 0.99% for DRN.
UUP has the higher dividend yield at 3.25%, compared with 1.90% for DRN.
DRN is categorized as REIT, while UUP is Currency. DRN tracks MSCI US REIT Index (300%), while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.99% for DRN and 0.75% for UUP.
UUP currently has the higher Sharpe Ratio (1.38 vs 0.39), 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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