DRV vs. DRN
DRV (Direxion Daily Real Estate Bear 3x Shares) and DRN (Direxion Daily Real Estate Bull 3x Shares) are both REIT funds from Direxion - DRV tracks the MSCI US REIT Index (-300%) while DRN tracks the MSCI US REIT Index (300%). Both are passively managed. Over the past 10 years, DRV returned -28.87%/yr vs -5.10%/yr for DRN. At a correlation of -0.99, they often move in opposite directions. DRV charges 1.08%/yr vs 0.99%/yr for DRN.
Performance
DRV vs. DRN - 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 DRN's 19.36% return. Over the past 10 years, DRV has underperformed DRN with an annualized return of -28.87%, while DRN has yielded a comparatively higher -5.10% 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%
DRN
- 1D
- 1.30%
- 1M
- -6.56%
- YTD
- 19.36%
- 6M
- 16.51%
- 1Y
- 6.60%
- 3Y*
- 7.32%
- 5Y*
- -11.56%
- 10Y*
- -5.10%
DRV vs. DRN - 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% |
DRN Direxion Daily Real Estate Bull 3x Shares | 19.36% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
Correlation
The correlation between DRV and DRN is -0.99, 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 | -0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | -1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2009 | -0.99 |
The correlation between DRV and DRN has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
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Return for Risk
DRV vs. DRN — Risk / Return Rank
DRV
DRN
DRV vs. DRN - 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 Real Estate Bull 3x Shares (DRN). 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 | DRN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.40 | 0.17 | -0.57 |
Sortino ratioReturn per unit of downside risk | -0.35 | 0.50 | -0.85 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.06 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | -0.53 | 0.29 | -0.82 |
Martin ratioReturn relative to average drawdown | -1.19 | 0.65 | -1.83 |
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 | DRN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 0.17 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | -0.20 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.46 | -0.08 | -0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.68 | 0.21 | -0.89 |
Drawdowns
DRV vs. DRN - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than DRN's maximum drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for DRV and DRN.
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Drawdown Indicators
| DRV | DRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -86.32% | -13.67% |
Max Drawdown (1Y)Largest decline over 1 year | -30.02% | -24.28% | -5.74% |
Max Drawdown (3Y)Largest decline over 3 years | -70.74% | -48.26% | -22.48% |
Max Drawdown (5Y)Largest decline over 5 years | -73.26% | -80.58% | +7.32% |
Max Drawdown (10Y)Largest decline over 10 years | -97.31% | -86.32% | -10.99% |
Current DrawdownCurrent decline from peak | -99.99% | -65.97% | -34.02% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -35.06% | -62.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.45% | 10.89% | +2.56% |
Volatility
DRV vs. DRN - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) and Direxion Daily Real Estate Bull 3x Shares (DRN) have volatilities of 11.56% and 11.21%, 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 | DRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.56% | 11.21% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 29.11% | 29.18% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.37% | 40.04% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.91% | 56.66% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.67% | 60.62% | +2.05% |
DRV vs. DRN - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than DRN's 0.99% expense ratio.
Dividends
DRV vs. DRN - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.55%, more than DRN's 2.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 2.23% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% |
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
DRV and DRN have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRV has higher volatility (11.56%) compared to DRN (11.21%). In terms of maximum drawdown, DRV dropped -99.99% vs DRN's -86.32%.
On 10-year performance, DRN leads with -5.10% vs -28.87% for DRV. On fees, DRN is cheaper at 0.99% per year. On volatility, DRN has been the lower-risk option at 11.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DRN has performed better with a -5.10% return vs -28.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRN is cheaper with a 0.99% expense ratio, compared with 1.08% for DRV.
DRV has the higher dividend yield at 3.55%, compared with 2.23% for DRN.
DRV tracks MSCI US REIT Index (-300%), while DRN tracks MSCI US REIT Index (300%). Their fees differ too: 1.08% for DRV and 0.99% for DRN.
DRN currently has the higher Sharpe Ratio (0.17 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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