DRV vs. BRZU

Last updated Jun 3, 2026

DRV (Direxion Daily Real Estate Bear 3x Shares) and BRZU (Direxion Daily Brazil Bull 2X Shares) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while BRZU is a Leveraged Equities fund tracking the MSCI Brazil 25/50 Index. Both are passively managed. Over the past 10 years, DRV returned -28.87%/yr vs -15.64%/yr for BRZU. At a correlation of -0.31, they often move in opposite directions. DRV charges 1.08%/yr vs 1.29%/yr for BRZU.

Performance

DRV vs. BRZU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Real Estate Bear 3x Shares (DRV) and Direxion Daily Brazil Bull 2X Shares (BRZU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRV achieves a -21.02% return, which is significantly lower than BRZU's 19.48% return. Over the past 10 years, DRV has underperformed BRZU with an annualized return of -28.87%, while BRZU has yielded a comparatively higher -15.64% annualized return.

DRV

• 1D: -1.47%
• 1M: 6.20%
• YTD: -21.02%
• 6M: -18.87%
• 1Y: -16.17%
• 3Y*: -22.75%
• 5Y*: -15.22%
• 10Y*: -28.87%

BRZU

• 1D: 0.47%
• 1M: -18.56%
• YTD: 19.48%
• 6M: 10.44%
• 1Y: 69.96%
• 3Y*: 11.88%
• 5Y*: -2.00%
• 10Y*: -15.64%

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

DRV vs. BRZU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRV Direxion Daily Real Estate Bear 3x Shares	-21.02%	-7.27%	-10.50%	-33.74%	68.51%	-68.77%	-60.48%	-51.70%	5.07%	-17.10%
BRZU Direxion Daily Brazil Bull 2X Shares	19.48%	97.99%	-57.07%	55.48%	8.30%	-39.23%	-91.34%	57.02%	-37.21%	30.80%

Correlation

The correlation between DRV and BRZU is -0.28, 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	-0.28
Correlation (3Y) Calculated over the trailing 3-year period	-0.32
Correlation (5Y) Calculated over the trailing 5-year period	-0.33
Correlation (10Y) Calculated over the trailing 10-year period	-0.30
Correlation (All Time) Calculated using the full available price history since Apr 11, 2013	-0.31

Return for Risk

DRV vs. BRZU — Risk / Return Rank

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

DRV

DRV Risk / Return Rank: 4
DRV Sharpe Ratio Rank: 5
DRV Sortino Ratio Rank: 5
DRV Omega Ratio Rank: 5
DRV Calmar Ratio Rank: 4
DRV Martin Ratio Rank: 3

BRZU

BRZU Risk / Return Rank: 41
BRZU Sharpe Ratio Rank: 40
BRZU Sortino Ratio Rank: 37
BRZU Omega Ratio Rank: 38
BRZU Calmar Ratio Rank: 50
BRZU Martin Ratio Rank: 41

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.

DRV vs. BRZU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) and Direxion Daily Brazil Bull 2X Shares (BRZU). 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.

	DRV	BRZU	Difference
Sharpe ratio Return per unit of total volatility	-0.40	1.43	-1.83
Sortino ratio Return per unit of downside risk	-0.35	1.93	-2.29
Omega ratio Gain probability vs. loss probability	0.96	1.25	-0.29
Calmar ratio Return relative to maximum drawdown	-0.53	2.53	-3.06
Martin ratio Return relative to average drawdown	-1.19	6.77	-7.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRV vs. BRZU - Sharpe Ratio Comparison

The current DRV Sharpe Ratio is -0.40, which is lower than the BRZU Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of DRV and BRZU, 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

	DRV	BRZU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	1.43	-1.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	-0.04	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.46	-0.19	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	-0.68	-0.35	-0.33

Drawdowns

DRV vs. BRZU - Drawdown Comparison

The maximum DRV drawdown since its inception was -99.99%, roughly equal to the maximum BRZU drawdown of -99.71%. Use the drawdown chart below to compare losses from any high point for DRV and BRZU.

Drawdown Indicators

	DRV	BRZU	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-99.71%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-30.02%	-28.06%	-1.96%
Max Drawdown (3Y) Largest decline over 3 years	-70.74%	-58.25%	-12.49%
Max Drawdown (5Y) Largest decline over 5 years	-73.26%	-65.00%	-8.26%
Max Drawdown (10Y) Largest decline over 10 years	-97.31%	-98.11%	+0.80%
Current Drawdown Current decline from peak	-99.99%	-99.14%	-0.85%
Average Drawdown Average peak-to-trough decline	-97.77%	-89.55%	-8.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.45%	10.46%	+2.99%

Volatility

DRV vs. BRZU - Volatility Comparison

The current volatility for Direxion Daily Real Estate Bear 3x Shares (DRV) is 11.56%, while Direxion Daily Brazil Bull 2X Shares (BRZU) has a volatility of 14.71%. This indicates that DRV experiences smaller price fluctuations and is considered to be less risky than BRZU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRV	BRZU	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.56%	14.71%	-3.15%
Volatility (6M) Calculated over the trailing 6-month period	29.11%	41.12%	-12.01%
Volatility (1Y) Calculated over the trailing 1-year period	40.37%	49.12%	-8.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.91%	55.33%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.67%	83.14%	-20.47%

DRV vs. BRZU - Expense Ratio Comparison

DRV has a 1.08% expense ratio, which is lower than BRZU's 1.29% expense ratio.

Dividends

DRV vs. BRZU - Dividend Comparison

DRV's dividend yield for the trailing twelve months is around 3.55%, more than BRZU's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRZU Direxion Daily Brazil Bull 2X Shares	2.23%	2.39%	8.73%	3.24%	4.70%	6.29%	0.78%	0.95%	1.04%	0.74%
DRV Direxion Daily Real Estate Bear 3x Shares	3.55%	2.88%	4.57%	5.35%	0.38%	0.00%	0.58%	1.71%	0.42%	0.00%

Frequently Asked Questions

Can I hold both DRV and BRZU in my portfolio?

DRV and BRZU have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRV or BRZU?

BRZU has higher volatility (14.71%) compared to DRV (11.56%). In terms of maximum drawdown, DRV dropped -99.99% vs BRZU's -99.71%.

Which ETF is better, DRV or BRZU?

On 10-year performance, BRZU leads with -15.64% vs -28.87% for DRV. On fees, DRV is cheaper at 1.08% per year. On volatility, DRV has been the lower-risk option at 11.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRV or BRZU?

Over the 10-year period, BRZU has performed better with a -15.64% return vs -28.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRV or BRZU?

DRV is cheaper with a 1.08% expense ratio, compared with 1.29% for BRZU.

Which ETF pays a higher dividend yield, DRV or BRZU?

DRV has the higher dividend yield at 3.55%, compared with 2.23% for BRZU.

What is the main difference between DRV and BRZU?

DRV is categorized as REIT, while BRZU is Leveraged Equities. DRV tracks MSCI US REIT Index (-300%), while BRZU tracks MSCI Brazil 25/50 Index. Their fees differ too: 1.08% for DRV and 1.29% for BRZU.

Which has better risk-adjusted returns?

BRZU currently has the higher Sharpe Ratio (1.43 vs -0.40), 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.