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 -27.93%/yr vs 32.56%/yr for QLD. Their -0.48 correlation means they have often moved in opposite directions in the past. 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 -31.44% return, which is significantly lower than QLD's 18.94% return. Over the past 10 years, DRV has underperformed QLD with an annualized return of -27.93%, while QLD has yielded a comparatively higher 32.56% annualized 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%
QLD
- 1D
- 1.20%
- 1M
- -7.66%
- 6M
- 16.78%
- YTD
- 18.94%
- 1Y
- 42.18%
- 3Y*
- 35.01%
- 5Y*
- 17.45%
- 10Y*
- 32.56%
- ALL TIME*
- 24.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.36M | $3.03M | $2.54M | |
| $408.78M | $399.91M | $439.78M |
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 | -31.44% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 5.07% | -17.10% |
QLD ProShares Ultra QQQ | 18.94% | 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 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | -0.22 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.40 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | -0.48 |
The correlation between DRV and QLD shifts across timeframes, from -0.48 (all time) to 0.01 (1 year), reflecting how their relationship changes across market environments.
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 | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.18 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 1.46 | -2.19 |
| Martin ratioReturn relative to average drawdown | -1.49 | 4.32 | -5.81 |
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 | -37.53% | -25.13% | -12.40% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -42.29% | -31.60% |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | -63.68% | -12.45% |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | -63.68% | -33.92% |
Current DrawdownCurrent decline from peak | -99.99% | -16.72% | -83.27% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -18.11% | -79.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 8.47% | +9.99% |
Volatility
DRV vs. QLD - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) and ProShares Ultra QQQ (QLD) have volatilities of 13.26% and 13.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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 | 13.26% | 13.69% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 31.99% | +1.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 38.62% | +3.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 45.76% | +11.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 44.97% | +17.87% |
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 3.94%, more than QLD's 0.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
QLD ProShares Ultra QQQ | 0.14% | 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 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (13.69%) compared to DRV (13.26%). In terms of maximum drawdown, DRV dropped -99.99% vs QLD's -83.13%.
On 10-year performance, QLD leads with 32.56% vs -27.93% for DRV. On fees, QLD is cheaper at 0.95% per year. On volatility, DRV has been the lower-risk option at 13.26%. 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 32.56% return vs -27.93%. 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 3.94%, compared with 0.14% 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 (0.95 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.
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