DRV vs. SPUU
DRV (Direxion Daily Real Estate Bear 3x Shares) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both exchange-traded funds - DRV is a REIT fund tracking the MSCI US REIT Index (-300%), while SPUU is a Leveraged Equities fund tracking the S&P 500 Index (200% Daily). Both are passively managed. Over the past 10 years, DRV returned -27.93%/yr vs 23.82%/yr for SPUU. Their -0.54 correlation means they have often moved in opposite directions in the past. DRV charges 1.08%/yr vs 0.60%/yr for SPUU.
Performance
DRV vs. SPUU - Performance Comparison
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Returns By Period
In the year-to-date period, DRV achieves a -31.44% return, which is significantly lower than SPUU's 16.72% return. Over the past 10 years, DRV has underperformed SPUU with an annualized return of -27.93%, while SPUU has yielded a comparatively higher 23.82% 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%
SPUU
- 1D
- 1.52%
- 1M
- 0.24%
- 6M
- 14.02%
- YTD
- 16.72%
- 1Y
- 38.14%
- 3Y*
- 31.33%
- 5Y*
- 17.73%
- 10Y*
- 23.82%
- ALL TIME*
- 21.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.36M | $3.03M | $2.54M | |
| $4.20M | $4.55M | $4.33M |
DRV vs. SPUU - 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% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 16.72% | 26.55% | 44.25% | 47.28% | -38.72% | 61.27% | 21.85% | 66.84% | -14.59% | 44.33% |
Correlation
The correlation between DRV and SPUU is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.16 |
Correlation (3Y) Balances recent behavior with more history. | -0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.55 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.53 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014 | -0.54 |
Over the past year, the inverse relationship between DRV and SPUU has weakened: their correlation has moved from -0.54 to -0.16, meaning they move in opposite directions less often than they have historically.
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Return for Risk
DRV vs. SPUU — Risk / Return Rank
DRV
SPUU
DRV vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bear 3x Shares (DRV) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.59 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.23 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 1.85 | -2.59 |
| Martin ratioReturn relative to average drawdown | -1.49 | 7.47 | -8.96 |
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Drawdowns
DRV vs. SPUU - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for DRV and SPUU.
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Drawdown Indicators
| DRV | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -59.35% | -40.64% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -18.19% | -19.34% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -35.18% | -38.71% |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | -46.59% | -29.54% |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | -59.35% | -38.25% |
Current DrawdownCurrent decline from peak | -99.99% | -3.83% | -96.16% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -9.44% | -88.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 4.51% | +13.95% |
Volatility
DRV vs. SPUU - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 13.26% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 7.10%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.26% | 7.10% | +6.16% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 20.38% | +12.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 25.88% | +16.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 33.70% | +23.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 35.79% | +27.05% |
DRV vs. SPUU - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
DRV vs. SPUU - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.94%, more than SPUU's 1.34% 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% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.34% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
DRV and SPUU have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRV has higher volatility (13.26%) compared to SPUU (7.10%). In terms of maximum drawdown, DRV dropped -99.99% vs SPUU's -59.35%.
On 10-year performance, SPUU leads with 23.82% vs -27.93% for DRV. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 7.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPUU has performed better with a 23.82% return vs -27.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 1.08% for DRV.
DRV has the higher dividend yield at 3.94%, compared with 1.34% for SPUU.
DRV is categorized as REIT, while SPUU is Leveraged Equities. DRV tracks MSCI US REIT Index (-300%), while SPUU tracks S&P 500 Index (200% Daily). Their fees differ too: 1.08% for DRV and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.30 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.
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