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 -28.87%/yr vs 4.55%/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 -21.02% return, which is significantly lower than CHAU's 17.88% return. Over the past 10 years, DRV has underperformed CHAU with an annualized return of -28.87%, while CHAU has yielded a comparatively higher 4.55% 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%
CHAU
- 1D
- 4.14%
- 1M
- 3.96%
- YTD
- 17.88%
- 6M
- 24.97%
- 1Y
- 83.14%
- 3Y*
- 13.00%
- 5Y*
- -9.25%
- 10Y*
- 4.55%
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 | -21.02% | -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 | 17.88% | 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 -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
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 17, 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.
| DRV | CHAU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.40 | 2.50 | -2.91 |
Sortino ratioReturn per unit of downside risk | -0.35 | 3.12 | -3.47 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.40 | -0.44 |
Calmar ratioReturn relative to maximum drawdown | -0.53 | 5.49 | -6.02 |
Martin ratioReturn relative to average drawdown | -1.19 | 16.51 | -17.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DRV | CHAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 2.50 | -2.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | -0.20 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.46 | 0.10 | -0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.68 | -0.07 | -0.61 |
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 | -30.02% | -15.27% | -14.75% |
Max Drawdown (3Y)Largest decline over 3 years | -70.74% | -59.88% | -10.86% |
Max Drawdown (5Y)Largest decline over 5 years | -73.26% | -73.69% | +0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -97.31% | -78.58% | -18.73% |
Current DrawdownCurrent decline from peak | -99.99% | -52.43% | -47.56% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -58.90% | -38.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.45% | 5.08% | +8.37% |
Volatility
DRV vs. CHAU - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) and Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) have volatilities of 11.56% and 11.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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 | 11.56% | 11.80% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 29.11% | 22.83% | +6.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.37% | 33.37% | +7.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.91% | 47.09% | +9.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.67% | 47.15% | +15.52% |
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 3.55%, more than CHAU's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares | 1.73% | 1.97% | 2.25% | 3.97% | 0.77% | 1.73% | 0.09% | 0.58% | 0.83% |
DRV Direxion Daily Real Estate Bear 3x Shares | 3.55% | 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 -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHAU has higher volatility (11.80%) compared to DRV (11.56%). In terms of maximum drawdown, DRV dropped -99.99% vs CHAU's -79.21%.
On 10-year performance, CHAU leads with 4.55% 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.
Over the 10-year period, CHAU has performed better with a 4.55% return vs -28.87%. 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 3.55%, compared with 1.73% 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 (2.50 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.
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