DRV vs. QLD
DRV (Direxion Daily Real Estate Bear 3x Shares) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, DRV returned -28.03%/yr vs 34.28%/yr for QLD. At a correlation of -0.48, they often move in opposite directions. DRV charges 1.08%/yr vs 0.95%/yr for QLD.
Performance
DRV vs. QLD - Performance Comparison
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Returns By Period
In the year-to-date period, DRV achieves a -29.68% return, which is significantly lower than QLD's 28.12% return. Over the past 10 years, DRV has underperformed QLD with an annualized return of -28.03%, while QLD has yielded a comparatively higher 34.28% annualized return.
DRV
- 1D
- -1.61%
- 1M
- 1.58%
- 6M
- -28.36%
- YTD
- -29.68%
- 1Y
- -24.84%
- 3Y*
- -21.19%
- 5Y*
- -15.39%
- 10Y*
- -28.03%
QLD
- 1D
- -3.81%
- 1M
- -3.42%
- 6M
- 23.12%
- YTD
- 28.12%
- 1Y
- 52.34%
- 3Y*
- 39.12%
- 5Y*
- 19.39%
- 10Y*
- 34.28%
DRV vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | -29.68% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 5.07% | -17.10% |
QLD ProShares Ultra QQQ | 28.12% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Correlation
The correlation between DRV and QLD is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.40 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | -0.48 |
Over the past year, the inverse relationship between DRV and QLD has weakened: their correlation has moved from -0.48 to -0.02, meaning they move in opposite directions less often than they have historically.
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Return for Risk
DRV vs. QLD — Risk / Return Rank
DRV
QLD
DRV vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) and ProShares Ultra QQQ (QLD). 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 | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.57 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.25 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 2.09 | -2.82 |
| Martin ratioReturn relative to average drawdown | -1.50 | 6.85 | -8.35 |
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Drawdowns
DRV vs. QLD - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for DRV and QLD.
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Drawdown Indicators
| DRV | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -83.13% | -16.86% |
Max Drawdown (1Y)Largest decline over 1 year | -34.33% | -25.13% | -9.20% |
Max Drawdown (3Y)Largest decline over 3 years | -72.55% | -42.29% | -30.26% |
Max Drawdown (5Y)Largest decline over 5 years | -74.91% | -63.68% | -11.23% |
Max Drawdown (10Y)Largest decline over 10 years | -97.48% | -63.68% | -33.80% |
Current DrawdownCurrent decline from peak | -99.99% | -10.29% | -89.70% |
Average DrawdownAverage peak-to-trough decline | -97.76% | -18.11% | -79.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.61% | 7.66% | +8.95% |
Volatility
DRV vs. QLD - Volatility Comparison
The current volatility for Direxion Daily Real Estate Bear 3x Shares (DRV) is 15.36%, while ProShares Ultra QQQ (QLD) has a volatility of 17.17%. This indicates that DRV experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.36% | 17.17% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 33.01% | 30.63% | +2.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.85% | 37.07% | +5.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.20% | 45.56% | +11.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.82% | 44.86% | +17.96% |
DRV vs. QLD - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than QLD's 0.95% expense ratio.
Dividends
DRV vs. QLD - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.84%, more than QLD's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRV Direxion Daily Real Estate Bear 3x Shares | 3.84% | 2.88% | 4.57% | 5.35% | 0.38% | 0.00% | 0.58% | 1.71% | 0.42% | 0.00% | 0.00% | 0.00% |
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
Frequently Asked Questions
DRV and QLD have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (17.17%) compared to DRV (15.36%). In terms of maximum drawdown, DRV dropped -99.99% vs QLD's -83.13%.
On 10-year performance, QLD leads with 34.28% vs -28.03% for DRV. On fees, QLD is cheaper at 0.95% per year. On volatility, DRV has been the lower-risk option at 15.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLD has performed better with a 34.28% return vs -28.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QLD is cheaper with a 0.95% expense ratio, compared with 1.08% for DRV.
DRV has the higher dividend yield at 3.84%, compared with 0.13% for QLD.
DRV is categorized as REIT, while QLD is Leveraged Equities. DRV tracks MSCI US REIT Index (-300%), while QLD tracks NASDAQ-100 Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.08% for DRV and 0.95% for QLD.
QLD currently has the higher Sharpe Ratio (1.42 vs -0.58), 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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