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 -29.40%/yr vs 36.27%/yr for QLD. At a correlation of -0.49, they often move in opposite directions. DRV charges 1.08%/yr vs 0.95%/yr for QLD.
Performance
DRV vs. QLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DRV achieves a -29.93% return, which is significantly lower than QLD's 29.58% return. Over the past 10 years, DRV has underperformed QLD with an annualized return of -29.40%, while QLD has yielded a comparatively higher 36.27% 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%
QLD
- 1D
- -6.61%
- 1M
- -2.02%
- YTD
- 29.58%
- 6M
- 26.13%
- 1Y
- 66.80%
- 3Y*
- 43.61%
- 5Y*
- 21.41%
- 10Y*
- 36.27%
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 | -29.93% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 5.07% | -17.10% |
QLD ProShares Ultra QQQ | 29.58% | 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 -0.07, 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 | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.41 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | -0.49 |
Over the past year, the inverse relationship between DRV and QLD has weakened: their correlation has moved from -0.49 to -0.07, 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. 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 | -2.40 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.31 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 2.67 | -3.35 |
| Martin ratioReturn relative to average drawdown | -1.47 | 9.05 | -10.52 |
Loading charts...
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.
Loading charts...
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 | -32.86% | -25.13% | -7.73% |
Max Drawdown (3Y)Largest decline over 3 years | -71.93% | -42.29% | -29.64% |
Max Drawdown (5Y)Largest decline over 5 years | -74.35% | -63.68% | -10.67% |
Max Drawdown (10Y)Largest decline over 10 years | -97.42% | -63.68% | -33.74% |
Current DrawdownCurrent decline from peak | -99.99% | -9.26% | -90.73% |
Average DrawdownAverage peak-to-trough decline | -97.75% | -18.14% | -79.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.12% | 7.40% | +7.72% |
Volatility
DRV vs. QLD - Volatility Comparison
The current volatility for Direxion Daily Real Estate Bear 3x Shares (DRV) is 16.42%, while ProShares Ultra QQQ (QLD) has a volatility of 18.22%. 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.
Loading charts...
Volatility by Period
| DRV | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.42% | 18.22% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 28.95% | +2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.62% | 35.77% | +6.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.12% | 45.34% | +11.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.82% | 44.80% | +18.02% |
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 4.00%, 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 | 4.00% | 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 -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (18.22%) compared to DRV (16.42%). In terms of maximum drawdown, DRV dropped -99.99% vs QLD's -83.13%.
On 10-year performance, QLD leads with 36.27% vs -29.40% for DRV. On fees, QLD is cheaper at 0.95% per year. On volatility, DRV has been the lower-risk option at 16.42%. 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 36.27% return vs -29.40%. 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 4.00%, 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 (1.88 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.
Find the right allocation for DRV and QLD
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