DRV vs. ERX
DRV (Direxion Daily Real Estate Bear 3x Shares) and ERX (Direxion Daily Energy Bull 2X Shares) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while ERX is a Energy Equities fund tracking the Energy Select Sector Index (200%). Both are passively managed. Over the past 10 years, DRV returned -27.93%/yr vs -8.11%/yr for ERX. Their -0.38 correlation means they have often moved in opposite directions in the past. DRV charges 1.08%/yr vs 0.91%/yr for ERX.
Performance
DRV vs. ERX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DRV achieves a -31.44% return, which is significantly lower than ERX's 71.01% return. Over the past 10 years, DRV has underperformed ERX with an annualized return of -27.93%, while ERX has yielded a comparatively higher -8.11% 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%
ERX
- 1D
- 1.98%
- 1M
- 23.93%
- 6M
- 32.46%
- YTD
- 71.01%
- 1Y
- 85.96%
- 3Y*
- 17.67%
- 5Y*
- 35.70%
- 10Y*
- -8.11%
- ALL TIME*
- -6.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.36M | $3.03M | $2.54M | |
| $22.14M | $22.35M | $28.47M |
DRV vs. ERX - 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% |
ERX Direxion Daily Energy Bull 2X Shares | 71.01% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -91.60% | 17.13% | -55.94% | -11.60% |
Correlation
The correlation between DRV and ERX is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.24 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.27 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | -0.38 |
Over the past year, the inverse relationship between DRV and ERX has weakened: their correlation has moved from -0.38 to -0.12, meaning they move in opposite directions less often than they have historically.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DRV vs. ERX — Risk / Return Rank
DRV
ERX
DRV vs. ERX - 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 Energy Bull 2X Shares (ERX). 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 | ERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.54 | ||
| Sortino ratioReturn per unit of downside risk | -3.11 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.29 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.65 | -3.39 |
| Martin ratioReturn relative to average drawdown | -1.49 | 6.74 | -8.23 |
Loading charts...
Drawdowns
DRV vs. ERX - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, roughly equal to the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for DRV and ERX.
Loading charts...
Drawdown Indicators
| DRV | ERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -99.54% | -0.45% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -29.97% | -7.56% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -42.34% | -31.55% |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | -46.90% | -29.23% |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | -98.59% | +0.99% |
Current DrawdownCurrent decline from peak | -99.99% | -91.37% | -8.62% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -67.24% | -30.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 11.83% | +6.63% |
Volatility
DRV vs. ERX - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 13.26% compared to Direxion Daily Energy Bull 2X Shares (ERX) at 11.87%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than ERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DRV | ERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.26% | 11.87% | +1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 33.76% | -0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 42.31% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 51.50% | +5.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 68.84% | -6.00% |
DRV vs. ERX - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than ERX's 0.91% expense ratio.
Dividends
DRV vs. ERX - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.94%, more than ERX's 1.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
ERX Direxion Daily Energy Bull 2X Shares | 1.49% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
Frequently Asked Questions
DRV and ERX have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRV has higher volatility (13.26%) compared to ERX (11.87%). In terms of maximum drawdown, DRV dropped -99.99% vs ERX's -99.54%.
On 10-year performance, ERX leads with -8.11% vs -27.93% for DRV. On fees, ERX is cheaper at 0.91% per year. On volatility, ERX has been the lower-risk option at 11.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ERX has performed better with a -8.11% return vs -27.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ERX is cheaper with a 0.91% expense ratio, compared with 1.08% for DRV.
DRV has the higher dividend yield at 3.94%, compared with 1.49% for ERX.
DRV is categorized as REIT, while ERX is Energy Equities. DRV tracks MSCI US REIT Index (-300%), while ERX tracks Energy Select Sector Index (200%). Their fees differ too: 1.08% for DRV and 0.91% for ERX.
ERX currently has the higher Sharpe Ratio (1.88 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.
Find the right allocation for DRV and ERX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer