DRV vs. IYRI
DRV (Direxion Daily Real Estate Bear 3x Shares) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while IYRI is a Derivative Income fund actively managed by Neos. DRV is passively managed, while IYRI is actively managed. Over the past year, DRV returned -28.22% vs 12.34% for IYRI. Their -0.94 correlation means they have often moved in opposite directions in the past. DRV charges 1.08%/yr vs 0.68%/yr for IYRI.
Performance
DRV vs. IYRI - 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 IYRI's 9.45% 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%
IYRI
- 1D
- -0.34%
- 1M
- 1.23%
- 6M
- 6.89%
- YTD
- 9.45%
- 1Y
- 12.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.36M | $3.03M | $2.54M | |
| $3.30M | $3.47M | $3.75M |
DRV vs. IYRI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | -31.44% | -11.84% |
IYRI NEOS Real Estate High Income ETF | 9.45% | 6.99% |
Correlation
The correlation between DRV and IYRI is -0.94, 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. | -0.94 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025 | -0.94 |
The correlation between DRV and IYRI has been stable across timeframes, ranging from -0.94 to -0.94 - a consistent structural relationship.
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Return for Risk
DRV vs. IYRI — Risk / Return Rank
DRV
IYRI
DRV vs. IYRI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) and NEOS Real Estate High Income ETF (IYRI). 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 | IYRI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.34 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.20 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 1.54 | -2.28 |
| Martin ratioReturn relative to average drawdown | -1.49 | 5.62 | -7.12 |
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Drawdowns
DRV vs. IYRI - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than IYRI's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for DRV and IYRI.
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Drawdown Indicators
| DRV | IYRI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -12.12% | -87.87% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -7.53% | -30.00% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -0.83% | -99.16% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -1.60% | -96.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 2.06% | +16.40% |
Volatility
DRV vs. IYRI - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 13.26% compared to NEOS Real Estate High Income ETF (IYRI) at 2.97%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than IYRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | IYRI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.26% | 2.97% | +10.29% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 8.17% | +24.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 10.77% | +31.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 13.01% | +44.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 13.01% | +49.83% |
DRV vs. IYRI - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than IYRI's 0.68% expense ratio.
Dividends
DRV vs. IYRI - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.94%, less than IYRI's 10.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
IYRI NEOS Real Estate High Income ETF | 10.84% | 11.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DRV and IYRI have a correlation of -0.94, 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 IYRI (2.97%). In terms of maximum drawdown, DRV dropped -99.99% vs IYRI's -12.12%.
On 1-year performance, IYRI leads with 12.34% vs -28.22% for DRV. On fees, IYRI is cheaper at 0.68% per year. On volatility, IYRI has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYRI has performed better with a 12.34% return vs -28.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYRI is cheaper with a 0.68% expense ratio, compared with 1.08% for DRV.
IYRI has the higher dividend yield at 10.84%, compared with 3.94% for DRV.
DRV is categorized as REIT, while IYRI is Derivative Income. They also come from different issuers: Direxion and Neos. Their fees differ too: 1.08% for DRV and 0.68% for IYRI.
IYRI currently has the higher Sharpe Ratio (1.08 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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