DRV vs. EDZ
DRV (Direxion Daily Real Estate Bear 3x Shares) and EDZ (Direxion Daily Emerging Markets Bear 3X Shares) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while EDZ is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (-300%). Both are passively managed. Over the past 10 years, DRV returned -29.40%/yr vs -36.99%/yr for EDZ. At a 0.47 correlation, their price movements are largely independent. Both charge a 1.08% expense ratio.
Performance
DRV vs. EDZ - Performance Comparison
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Returns By Period
In the year-to-date period, DRV achieves a -29.93% return, which is significantly higher than EDZ's -56.62% return. Over the past 10 years, DRV has outperformed EDZ with an annualized return of -29.40%, while EDZ has yielded a comparatively lower -36.99% 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%
EDZ
- 1D
- 15.00%
- 1M
- -15.02%
- YTD
- -56.62%
- 6M
- -57.41%
- 1Y
- -73.55%
- 3Y*
- -48.31%
- 5Y*
- -25.46%
- 10Y*
- -36.99%
DRV vs. EDZ - 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% |
EDZ Direxion Daily Emerging Markets Bear 3X Shares | -56.62% | -59.30% | -12.71% | -20.28% | 49.27% | -8.69% | -68.79% | -43.01% | 32.87% | -64.12% |
Correlation
The correlation between DRV and EDZ is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | 0.47 |
Over the past year, the correlation between DRV and EDZ has dropped to 0.17 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
DRV vs. EDZ — Risk / Return Rank
DRV
EDZ
DRV vs. EDZ - 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 Emerging Markets Bear 3X Shares (EDZ). 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 | EDZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.74 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | -0.98 | +0.31 |
| Martin ratioReturn relative to average drawdown | -1.47 | -1.75 | +0.28 |
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Drawdowns
DRV vs. EDZ - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, roughly equal to the maximum EDZ drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for DRV and EDZ.
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Drawdown Indicators
| DRV | EDZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -99.99% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -32.86% | -74.99% | +42.13% |
Max Drawdown (3Y)Largest decline over 3 years | -71.93% | -90.46% | +18.53% |
Max Drawdown (5Y)Largest decline over 5 years | -74.35% | -92.91% | +18.56% |
Max Drawdown (10Y)Largest decline over 10 years | -97.42% | -99.17% | +1.75% |
Current DrawdownCurrent decline from peak | -99.99% | -99.99% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -97.75% | -97.73% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.12% | 45.83% | -30.71% |
Volatility
DRV vs. EDZ - Volatility Comparison
The current volatility for Direxion Daily Real Estate Bear 3x Shares (DRV) is 16.42%, while Direxion Daily Emerging Markets Bear 3X Shares (EDZ) has a volatility of 36.28%. This indicates that DRV experiences smaller price fluctuations and is considered to be less risky than EDZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | EDZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.42% | 36.28% | -19.86% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 60.77% | -28.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.62% | 67.52% | -24.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.12% | 58.82% | -1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.82% | 61.46% | +1.36% |
DRV vs. EDZ - Expense Ratio Comparison
Both DRV and EDZ have an expense ratio of 1.08%.
Dividends
DRV vs. EDZ - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 4.00%, less than EDZ's 10.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
EDZ Direxion Daily Emerging Markets Bear 3X Shares | 10.18% | 6.58% | 4.87% | 4.34% | 0.00% | 0.00% | 0.82% | 1.67% | 0.68% |
Frequently Asked Questions
DRV and EDZ have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EDZ has higher volatility (36.28%) compared to DRV (16.42%). In terms of maximum drawdown, DRV dropped -99.99% vs EDZ's -99.99%.
On 10-year performance, DRV leads with -29.40% vs -36.99% for EDZ. Both ETFs have the same 1.08% expense ratio. On volatility, DRV has been the lower-risk option at 16.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DRV has performed better with a -29.40% return vs -36.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRV and EDZ have the same expense ratio: 1.08% per year.
EDZ has the higher dividend yield at 10.18%, compared with 4.00% for DRV.
DRV is categorized as REIT, while EDZ is Leveraged Equities. DRV tracks MSCI US REIT Index (-300%), while EDZ tracks MSCI Emerging Markets Index (-300%).
DRV currently has the higher Sharpe Ratio (-0.52 vs -1.09), 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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