DRV vs. KBWY
DRV (Direxion Daily Real Estate Bear 3x Shares) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both REIT funds - DRV tracks the MSCI US REIT Index (-300%) while KBWY tracks the KBW Nasdaq Premium Yield Equity REIT Index. Both are passively managed. Over the past 10 years, DRV returned -29.40%/yr vs 1.46%/yr for KBWY. At a correlation of -0.82, they often move in opposite directions. DRV charges 1.08%/yr vs 0.35%/yr for KBWY.
Performance
DRV vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, DRV achieves a -29.93% return, which is significantly lower than KBWY's 22.56% return. Over the past 10 years, DRV has underperformed KBWY with an annualized return of -29.40%, while KBWY has yielded a comparatively higher 1.46% 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%
KBWY
- 1D
- 1.25%
- 1M
- 4.73%
- YTD
- 22.56%
- 6M
- 24.93%
- 1Y
- 25.07%
- 3Y*
- 11.98%
- 5Y*
- 3.00%
- 10Y*
- 1.46%
DRV vs. KBWY - 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% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 22.56% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between DRV and KBWY is -0.70, 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 | -0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | -0.82 |
The correlation between DRV and KBWY shifts across timeframes, from -0.82 (all time) to -0.70 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRV vs. KBWY — Risk / Return Rank
DRV
KBWY
DRV vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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 | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.03 | ||
| Sortino ratioReturn per unit of downside risk | -2.73 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.25 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 2.72 | -3.40 |
| Martin ratioReturn relative to average drawdown | -1.47 | 6.48 | -7.94 |
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Drawdowns
DRV vs. KBWY - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than KBWY's maximum drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for DRV and KBWY.
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Drawdown Indicators
| DRV | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -57.68% | -42.31% |
Max Drawdown (1Y)Largest decline over 1 year | -32.86% | -9.24% | -23.62% |
Max Drawdown (3Y)Largest decline over 3 years | -71.93% | -29.93% | -42.00% |
Max Drawdown (5Y)Largest decline over 5 years | -74.35% | -32.29% | -42.06% |
Max Drawdown (10Y)Largest decline over 10 years | -97.42% | -57.68% | -39.74% |
Current DrawdownCurrent decline from peak | -99.99% | -6.64% | -93.35% |
Average DrawdownAverage peak-to-trough decline | -97.75% | -14.15% | -83.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.12% | 3.88% | +11.24% |
Volatility
DRV vs. KBWY - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 16.42% compared to Invesco KBW Premium Yield Equity REIT ETF (KBWY) at 4.85%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.42% | 4.85% | +11.57% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 12.16% | +19.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.62% | 16.79% | +25.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.12% | 21.61% | +35.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.82% | 27.08% | +35.74% |
DRV vs. KBWY - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than KBWY's 0.35% expense ratio.
Dividends
DRV vs. KBWY - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 4.00%, less than KBWY's 8.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.28% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
Frequently Asked Questions
DRV and KBWY have a correlation of -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRV has higher volatility (16.42%) compared to KBWY (4.85%). In terms of maximum drawdown, DRV dropped -99.99% vs KBWY's -57.68%.
On 10-year performance, KBWY leads with 1.46% vs -29.40% for DRV. On fees, KBWY is cheaper at 0.35% per year. On volatility, KBWY has been the lower-risk option at 4.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, KBWY has performed better with a 1.46% return vs -29.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY is cheaper with a 0.35% expense ratio, compared with 1.08% for DRV.
KBWY has the higher dividend yield at 8.28%, compared with 4.00% for DRV.
DRV tracks MSCI US REIT Index (-300%), while KBWY tracks KBW Nasdaq Premium Yield Equity REIT Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.08% for DRV and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.50 vs -0.52), 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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