DRV vs. AFK
DRV (Direxion Daily Real Estate Bear 3x Shares) and AFK (VanEck Vectors Africa Index ETF) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while AFK is a Emerging Markets Equities fund tracking the Dow Jones Africa Titans 50 Index. Both are passively managed. Over the past 10 years, DRV returned -27.93%/yr vs 5.25%/yr for AFK. Their -0.38 correlation means they have often moved in opposite directions in the past. DRV charges 1.08%/yr vs 0.78%/yr for AFK.
Performance
DRV vs. AFK - Performance Comparison
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Returns By Period
In the year-to-date period, DRV achieves a -31.44% return, which is significantly lower than AFK's -2.32% return. Over the past 10 years, DRV has underperformed AFK with an annualized return of -27.93%, while AFK has yielded a comparatively higher 5.25% annualized return.
DRV
- 1D
- 1.83%
- 1M
- -2.68%
- 6M
- -25.85%
- YTD
- -31.44%
- 1Y
- -28.22%
- 3Y*
- -23.26%
- 5Y*
- -15.14%
- 10Y*
- -27.93%
- ALL TIME*
- -43.10%
AFK
- 1D
- 0.15%
- 1M
- 0.08%
- 6M
- -6.31%
- YTD
- -2.32%
- 1Y
- 26.56%
- 3Y*
- 19.94%
- 5Y*
- 6.08%
- 10Y*
- 5.25%
- ALL TIME*
- -0.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.06M | $2.15M | $2.08M | |
| $3.36M | $3.03M | $2.54M |
DRV vs. AFK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | -31.44% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 5.07% | -17.10% |
AFK VanEck Vectors Africa Index ETF | -2.32% | 74.71% | 12.10% | -12.11% | -17.31% | 3.00% | 4.26% | 9.90% | -19.55% | 28.22% |
Correlation
The correlation between DRV and AFK is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.17 |
Correlation (3Y) Balances recent behavior with more history. | -0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.32 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | -0.38 |
Over the past year, the inverse relationship between DRV and AFK has weakened: their correlation has moved from -0.38 to -0.17, meaning they move in opposite directions less often than they have historically.
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Return for Risk
DRV vs. AFK — Risk / Return Rank
DRV
AFK
DRV vs. AFK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) and VanEck Vectors Africa Index ETF (AFK). 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.
| DRV | AFK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.18 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.18 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 1.34 | -2.08 |
| Martin ratioReturn relative to average drawdown | -1.49 | 2.99 | -4.48 |
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Drawdowns
DRV vs. AFK - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than AFK's maximum drawdown of -62.46%. Use the drawdown chart below to compare losses from any high point for DRV and AFK.
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Drawdown Indicators
| DRV | AFK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -62.46% | -37.53% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -19.54% | -17.99% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -19.54% | -54.35% |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | -37.62% | -38.51% |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | -53.33% | -44.27% |
Current DrawdownCurrent decline from peak | -99.99% | -14.50% | -85.49% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -31.88% | -65.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 8.74% | +9.72% |
Volatility
DRV vs. AFK - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 13.26% compared to VanEck Vectors Africa Index ETF (AFK) at 5.45%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than AFK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | AFK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.26% | 5.45% | +7.81% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 23.20% | +9.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 27.08% | +15.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 22.45% | +34.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 22.14% | +40.70% |
DRV vs. AFK - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than AFK's 0.78% expense ratio.
Dividends
DRV vs. AFK - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.94%, more than AFK's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFK VanEck Vectors Africa Index ETF | 1.04% | 1.02% | 0.00% | 2.27% | 3.59% | 4.17% | 3.91% | 6.34% | 1.71% | 1.99% | 2.67% | 2.16% |
DRV Direxion Daily Real Estate Bear 3x Shares | 3.94% | 2.88% | 4.57% | 5.35% | 0.38% | 0.00% | 0.58% | 1.71% | 0.42% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DRV and AFK have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRV has higher volatility (13.26%) compared to AFK (5.45%). In terms of maximum drawdown, DRV dropped -99.99% vs AFK's -62.46%.
On 10-year performance, AFK leads with 5.25% vs -27.93% for DRV. On fees, AFK is cheaper at 0.78% per year. On volatility, AFK has been the lower-risk option at 5.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AFK has performed better with a 5.25% return vs -27.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AFK is cheaper with a 0.78% expense ratio, compared with 1.08% for DRV.
DRV has the higher dividend yield at 3.94%, compared with 1.04% for AFK.
DRV is categorized as REIT, while AFK is Emerging Markets Equities. DRV tracks MSCI US REIT Index (-300%), while AFK tracks Dow Jones Africa Titans 50 Index. They also come from different issuers: Direxion and VanEck. Their fees differ too: 1.08% for DRV and 0.78% for AFK.
AFK currently has the higher Sharpe Ratio (0.97 vs -0.66), 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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