DRV vs. BBRE
DRV (Direxion Daily Real Estate Bear 3x Shares) and BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) are both REIT funds - DRV tracks the MSCI US REIT Index (-300%) while BBRE tracks the MSCI US REIT Index. Both are passively managed. Over the past 5 years, DRV returned -15.14%/yr vs 4.94%/yr for BBRE. Their -0.95 correlation means they have often moved in opposite directions in the past. DRV charges 1.08%/yr vs 0.11%/yr for BBRE.
Performance
DRV vs. BBRE - 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 BBRE's 19.92% 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%
BBRE
- 1D
- -0.53%
- 1M
- 0.88%
- 6M
- 16.77%
- YTD
- 19.92%
- 1Y
- 24.62%
- 3Y*
- 11.76%
- 5Y*
- 4.94%
- 10Y*
- —
- ALL TIME*
- 7.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.15M | $3.29M | $5.12M | |
| $3.36M | $3.03M | $2.54M |
DRV vs. BBRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | -31.44% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 3.20% |
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 19.92% | 2.09% | 8.24% | 13.85% | -24.68% | 42.99% | -7.55% | 26.06% | -2.41% |
Correlation
The correlation between DRV and BBRE is -0.93, 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. | -0.93 |
Correlation (3Y) Balances recent behavior with more history. | -0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018 | -0.95 |
The correlation between DRV and BBRE has been stable across timeframes, ranging from -0.96 to -0.93 - a consistent structural relationship.
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Return for Risk
DRV vs. BBRE — Risk / Return Rank
DRV
BBRE
DRV vs. BBRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). 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 | BBRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.21 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.30 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.99 | -3.72 |
| Martin ratioReturn relative to average drawdown | -1.49 | 9.87 | -11.37 |
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Drawdowns
DRV vs. BBRE - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than BBRE's maximum drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for DRV and BBRE.
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Drawdown Indicators
| DRV | BBRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -43.61% | -56.38% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -8.07% | -29.46% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -18.92% | -54.97% |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | -31.15% | -44.98% |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -2.82% | -97.17% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -10.33% | -87.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 2.44% | +16.02% |
Volatility
DRV vs. BBRE - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 13.26% compared to JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) at 4.70%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than BBRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | BBRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.26% | 4.70% | +8.56% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 10.87% | +22.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 14.06% | +28.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 18.82% | +38.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 22.47% | +40.37% |
DRV vs. BBRE - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than BBRE's 0.11% expense ratio.
Dividends
DRV vs. BBRE - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.94%, more than BBRE's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 2.58% | 3.24% | 3.19% | 3.68% | 2.62% | 1.70% | 3.17% | 2.19% | 1.96% |
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% |
Frequently Asked Questions
DRV and BBRE have a correlation of -0.93, 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 BBRE (4.70%). In terms of maximum drawdown, DRV dropped -99.99% vs BBRE's -43.61%.
On 5-year performance, BBRE leads with 4.94% vs -15.14% for DRV. On fees, BBRE is cheaper at 0.11% per year. On volatility, BBRE has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBRE has performed better with a 4.94% return vs -15.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBRE is cheaper with a 0.11% expense ratio, compared with 1.08% for DRV.
DRV has the higher dividend yield at 3.94%, compared with 2.58% for BBRE.
DRV tracks MSCI US REIT Index (-300%), while BBRE tracks MSCI US REIT Index. They also come from different issuers: Direxion and JPMorgan. Their fees differ too: 1.08% for DRV and 0.11% for BBRE.
BBRE currently has the higher Sharpe Ratio (1.73 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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