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 -27.93%/yr vs 3.36%/yr for CHAU. Their -0.20 correlation means they have often moved in opposite directions in the past. 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 -31.44% return, which is significantly lower than CHAU's 3.41% return. Over the past 10 years, DRV has underperformed CHAU with an annualized return of -27.93%, while CHAU has yielded a comparatively higher 3.36% annualized 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%
CHAU
- 1D
- -0.55%
- 1M
- -6.06%
- 6M
- 0.47%
- YTD
- 3.41%
- 1Y
- 41.75%
- 3Y*
- 6.15%
- 5Y*
- -8.33%
- 10Y*
- 3.36%
- ALL TIME*
- -4.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $4.26M | $3.47M | $3.01M | |
| $3.36M | $3.03M | $2.54M |
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 | -31.44% | -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 | 3.41% | 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 -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.08 |
Correlation (3Y) Balances recent behavior with more history. | -0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015 | -0.20 |
The correlation between DRV and CHAU shifts across timeframes, from -0.20 (all time) to -0.08 (1 year), reflecting how their relationship changes across market environments.
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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 | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.20 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.10 | -2.83 |
| Martin ratioReturn relative to average drawdown | -1.49 | 5.94 | -7.43 |
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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 | -37.53% | -19.27% | -18.26% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -59.88% | -14.01% |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | -71.83% | -4.30% |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | -78.58% | -19.02% |
Current DrawdownCurrent decline from peak | -99.99% | -58.27% | -41.72% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -58.83% | -38.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 6.79% | +11.67% |
Volatility
DRV vs. CHAU - Volatility Comparison
The current volatility for Direxion Daily Real Estate Bear 3x Shares (DRV) is 13.26%, while Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) has a volatility of 17.39%. 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 | 13.26% | 17.39% | -4.13% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 30.77% | +2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 39.40% | +3.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 47.27% | +9.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 47.45% | +15.39% |
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 3.94%, more than CHAU's 2.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares | 2.09% | 1.97% | 2.25% | 3.97% | 0.77% | 1.73% | 0.09% | 0.58% | 0.83% |
DRV Direxion Daily Real Estate Bear 3x Shares | 3.94% | 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 -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CHAU has higher volatility (17.39%) compared to DRV (13.26%). In terms of maximum drawdown, DRV dropped -99.99% vs CHAU's -79.21%.
On 10-year performance, CHAU leads with 3.36% vs -27.93% for DRV. On fees, DRV is cheaper at 1.08% per year. On volatility, DRV has been the lower-risk option at 13.26%. 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 3.36% return vs -27.93%. 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 3.94%, compared with 2.09% 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 (1.03 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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