DRV vs. CHAU
DRV (Direxion Daily Real Estate Bear 3x Shares) and CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while CHAU is a Leveraged Equities fund tracking the CSI 300 Index (200%). Both are passively managed. Over the past 10 years, DRV returned -29.40%/yr vs 5.49%/yr for CHAU. At a correlation of -0.21, they often move in opposite directions. DRV charges 1.08%/yr vs 1.21%/yr for CHAU.
Performance
DRV vs. CHAU - Performance Comparison
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Returns By Period
In the year-to-date period, DRV achieves a -29.93% return, which is significantly lower than CHAU's 15.68% return. Over the past 10 years, DRV has underperformed CHAU with an annualized return of -29.40%, while CHAU has yielded a comparatively higher 5.49% annualized return.
DRV
- 1D
- -4.91%
- 1M
- -4.37%
- YTD
- -29.93%
- 6M
- -30.51%
- 1Y
- -22.15%
- 3Y*
- -27.14%
- 5Y*
- -17.01%
- 10Y*
- -29.40%
CHAU
- 1D
- -6.92%
- 1M
- 2.59%
- YTD
- 15.68%
- 6M
- 16.43%
- 1Y
- 74.53%
- 3Y*
- 14.03%
- 5Y*
- -8.64%
- 10Y*
- 5.49%
DRV vs. CHAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | -29.93% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 5.07% | -17.10% |
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares | 15.68% | 47.73% | 6.61% | -28.25% | -49.17% | -2.84% | 71.95% | 70.01% | -51.03% | 74.91% |
Correlation
The correlation between DRV and CHAU is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015 | -0.21 |
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Return for Risk
DRV vs. CHAU — Risk / Return Rank
DRV
CHAU
DRV vs. CHAU - 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 CSI 300 China A Share Bull 2x Shares (CHAU). 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 | CHAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.35 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 4.91 | -5.58 |
| Martin ratioReturn relative to average drawdown | -1.47 | 13.77 | -15.24 |
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Drawdowns
DRV vs. CHAU - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than CHAU's maximum drawdown of -79.21%. Use the drawdown chart below to compare losses from any high point for DRV and CHAU.
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Drawdown Indicators
| DRV | CHAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -79.21% | -20.78% |
Max Drawdown (1Y)Largest decline over 1 year | -32.86% | -15.27% | -17.59% |
Max Drawdown (3Y)Largest decline over 3 years | -71.93% | -59.88% | -12.05% |
Max Drawdown (5Y)Largest decline over 5 years | -74.35% | -72.59% | -1.76% |
Max Drawdown (10Y)Largest decline over 10 years | -97.42% | -78.58% | -18.84% |
Current DrawdownCurrent decline from peak | -99.99% | -53.31% | -46.68% |
Average DrawdownAverage peak-to-trough decline | -97.75% | -58.86% | -38.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.12% | 5.43% | +9.69% |
Volatility
DRV vs. CHAU - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 16.42% compared to Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) at 14.72%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than CHAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | CHAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.42% | 14.72% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 25.68% | +6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.62% | 35.51% | +7.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.12% | 47.32% | +9.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.82% | 47.22% | +15.60% |
DRV vs. CHAU - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is lower than CHAU's 1.21% expense ratio.
Dividends
DRV vs. CHAU - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 4.00%, more than CHAU's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares | 1.76% | 1.97% | 2.25% | 3.97% | 0.77% | 1.73% | 0.09% | 0.58% | 0.83% |
DRV Direxion Daily Real Estate Bear 3x Shares | 4.00% | 2.88% | 4.57% | 5.35% | 0.38% | 0.00% | 0.58% | 1.71% | 0.42% |
Frequently Asked Questions
DRV and CHAU have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRV has higher volatility (16.42%) compared to CHAU (14.72%). In terms of maximum drawdown, DRV dropped -99.99% vs CHAU's -79.21%.
On 10-year performance, CHAU leads with 5.49% vs -29.40% for DRV. On fees, DRV is cheaper at 1.08% per year. On volatility, CHAU has been the lower-risk option at 14.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CHAU has performed better with a 5.49% return vs -29.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRV is cheaper with a 1.08% expense ratio, compared with 1.21% for CHAU.
DRV has the higher dividend yield at 4.00%, compared with 1.76% for CHAU.
DRV is categorized as REIT, while CHAU is Leveraged Equities. DRV tracks MSCI US REIT Index (-300%), while CHAU tracks CSI 300 Index (200%). Their fees differ too: 1.08% for DRV and 1.21% for CHAU.
CHAU currently has the higher Sharpe Ratio (2.11 vs -0.52), 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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