DRV vs. PFFR
DRV (Direxion Daily Real Estate Bear 3x Shares) and PFFR (InfraCap REIT Preferred ETF) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while PFFR is a Preferred Stock/Convertible Bonds fund tracking the Indxx REIT Preferred Stock Index. Both are passively managed. Over the past 5 years, DRV returned -17.01%/yr vs 0.99%/yr for PFFR. At a correlation of -0.37, they often move in opposite directions. DRV charges 1.08%/yr vs 0.45%/yr for PFFR.
Performance
DRV vs. PFFR - 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 PFFR's 1.56% 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%
PFFR
- 1D
- -0.54%
- 1M
- 1.00%
- YTD
- 1.56%
- 6M
- 1.11%
- 1Y
- 6.55%
- 3Y*
- 9.29%
- 5Y*
- 0.99%
- 10Y*
- —
DRV vs. PFFR - 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% | -16.90% |
PFFR InfraCap REIT Preferred ETF | 1.56% | 5.36% | 7.12% | 21.04% | -23.90% | 6.76% | 0.19% | 20.28% | -7.45% | 7.82% |
Correlation
The correlation between DRV and PFFR is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2017 | -0.37 |
The correlation between DRV and PFFR shifts across timeframes, from -0.38 (5 years) to -0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRV vs. PFFR — Risk / Return Rank
DRV
PFFR
DRV vs. PFFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) and InfraCap REIT Preferred ETF (PFFR). 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 | PFFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.15 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 1.00 | -1.68 |
| Martin ratioReturn relative to average drawdown | -1.47 | 2.30 | -3.77 |
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Drawdowns
DRV vs. PFFR - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than PFFR's maximum drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for DRV and PFFR.
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Drawdown Indicators
| DRV | PFFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -53.02% | -46.97% |
Max Drawdown (1Y)Largest decline over 1 year | -32.86% | -6.57% | -26.29% |
Max Drawdown (3Y)Largest decline over 3 years | -71.93% | -11.16% | -60.77% |
Max Drawdown (5Y)Largest decline over 5 years | -74.35% | -29.80% | -44.55% |
Max Drawdown (10Y)Largest decline over 10 years | -97.42% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -2.32% | -97.67% |
Average DrawdownAverage peak-to-trough decline | -97.75% | -6.97% | -90.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.12% | 2.85% | +12.27% |
Volatility
DRV vs. PFFR - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 16.42% compared to InfraCap REIT Preferred ETF (PFFR) at 2.10%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | PFFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.42% | 2.10% | +14.32% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 6.05% | +25.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.62% | 7.82% | +34.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.12% | 10.48% | +46.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.82% | 20.48% | +42.34% |
DRV vs. PFFR - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than PFFR's 0.45% expense ratio.
Dividends
DRV vs. PFFR - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 4.00%, less than PFFR's 8.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
PFFR InfraCap REIT Preferred ETF | 8.30% | 7.99% | 7.78% | 7.72% | 8.60% | 6.08% | 6.11% | 5.77% | 6.48% | 6.59% |
Frequently Asked Questions
DRV and PFFR have a correlation of -0.24, 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 PFFR (2.10%). In terms of maximum drawdown, DRV dropped -99.99% vs PFFR's -53.02%.
On 5-year performance, PFFR leads with 0.99% vs -17.01% for DRV. On fees, PFFR is cheaper at 0.45% per year. On volatility, PFFR has been the lower-risk option at 2.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFFR has performed better with a 0.99% return vs -17.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFR is cheaper with a 0.45% expense ratio, compared with 1.08% for DRV.
PFFR has the higher dividend yield at 8.30%, compared with 4.00% for DRV.
DRV is categorized as REIT, while PFFR is Preferred Stock/Convertible Bonds. DRV tracks MSCI US REIT Index (-300%), while PFFR tracks Indxx REIT Preferred Stock Index. They also come from different issuers: Direxion and Virtus Investment Partners. Their fees differ too: 1.08% for DRV and 0.45% for PFFR.
PFFR currently has the higher Sharpe Ratio (0.84 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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