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 China Equities fund tracking the CSI 300 Index (200%). Both are passively managed. Over the past 10 years, DRV returned -28.03%/yr vs 3.13%/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 -29.68% return, which is significantly lower than CHAU's 5.90% return. Over the past 10 years, DRV has underperformed CHAU with an annualized return of -28.03%, while CHAU has yielded a comparatively higher 3.13% annualized return.
DRV
- 1D
- -1.61%
- 1M
- 1.58%
- 6M
- -28.36%
- YTD
- -29.68%
- 1Y
- -24.84%
- 3Y*
- -21.19%
- 5Y*
- -15.39%
- 10Y*
- -28.03%
CHAU
- 1D
- -4.96%
- 1M
- -5.32%
- 6M
- -2.77%
- YTD
- 5.90%
- 1Y
- 46.02%
- 3Y*
- 8.70%
- 5Y*
- -9.88%
- 10Y*
- 3.13%
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 | -29.68% | -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 | 5.90% | 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 -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.20 |
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 | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.22 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 3.03 | -3.75 |
| Martin ratioReturn relative to average drawdown | -1.50 | 7.95 | -9.44 |
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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 | -34.33% | -15.27% | -19.06% |
Max Drawdown (3Y)Largest decline over 3 years | -72.55% | -59.88% | -12.67% |
Max Drawdown (5Y)Largest decline over 5 years | -74.91% | -71.97% | -2.94% |
Max Drawdown (10Y)Largest decline over 10 years | -97.48% | -78.58% | -18.90% |
Current DrawdownCurrent decline from peak | -99.99% | -57.26% | -42.73% |
Average DrawdownAverage peak-to-trough decline | -97.76% | -58.83% | -38.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.61% | 5.81% | +10.80% |
Volatility
DRV vs. CHAU - Volatility Comparison
The current volatility for Direxion Daily Real Estate Bear 3x Shares (DRV) is 15.36%, while Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) has a volatility of 17.36%. This indicates that DRV experiences smaller price fluctuations and is considered to be less risky 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 | 15.36% | 17.36% | -2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 33.01% | 28.48% | +4.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.85% | 37.60% | +5.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.20% | 47.52% | +9.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.82% | 47.35% | +15.47% |
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 3.84%, more than CHAU's 2.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares | 2.04% | 1.97% | 2.25% | 3.97% | 0.77% | 1.73% | 0.09% | 0.58% | 0.83% |
DRV Direxion Daily Real Estate Bear 3x Shares | 3.84% | 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 -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHAU has higher volatility (17.36%) compared to DRV (15.36%). In terms of maximum drawdown, DRV dropped -99.99% vs CHAU's -79.21%.
On 10-year performance, CHAU leads with 3.13% vs -28.03% for DRV. On fees, DRV is cheaper at 1.08% per year. On volatility, DRV has been the lower-risk option at 15.36%. 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 3.13% return vs -28.03%. 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 3.84%, compared with 2.04% for CHAU.
DRV is categorized as REIT, while CHAU is China 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 (1.23 vs -0.58), 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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