DRV vs. SRS
DRV (Direxion Daily Real Estate Bear 3x Shares) and SRS (ProShares UltraShort Real Estate) are both REIT funds - DRV tracks the MSCI US REIT Index (-300%) while SRS tracks the Dow Jones U.S. Real Estate Index (-200%). Both are passively managed. Over the past 10 years, DRV returned -27.93%/yr vs -15.88%/yr for SRS. Their 0.99 correlation means they have historically moved very closely together. DRV charges 1.08%/yr vs 0.95%/yr for SRS.
Performance
DRV vs. SRS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DRV achieves a -31.44% return, which is significantly lower than SRS's -20.93% return. Over the past 10 years, DRV has underperformed SRS with an annualized return of -27.93%, while SRS has yielded a comparatively higher -15.88% 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%
SRS
- 1D
- 1.05%
- 1M
- -1.58%
- 6M
- -16.96%
- YTD
- -20.93%
- 1Y
- -17.75%
- 3Y*
- -12.90%
- 5Y*
- -5.60%
- 10Y*
- -15.88%
- ALL TIME*
- -28.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.36M | $3.03M | $2.54M | |
| $359.74K | $355.42K | $364.28K |
DRV vs. SRS - 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% |
SRS ProShares UltraShort Real Estate | -20.93% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
Correlation
The correlation between DRV and SRS is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | 0.99 |
The correlation between DRV and SRS has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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. SRS — Risk / Return Rank
DRV
SRS
DRV vs. SRS - 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 UltraShort Real Estate (SRS). 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 | SRS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.92 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | -0.67 | -0.06 |
| Martin ratioReturn relative to average drawdown | -1.49 | -1.39 | -0.10 |
Loading charts...
Drawdowns
DRV vs. SRS - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, roughly equal to the maximum SRS drawdown of -99.96%. Use the drawdown chart below to compare losses from any high point for DRV and SRS.
Loading charts...
Drawdown Indicators
| DRV | SRS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -99.96% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -25.73% | -11.80% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -54.73% | -19.16% |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | -54.73% | -21.40% |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | -86.75% | -10.85% |
Current DrawdownCurrent decline from peak | -99.99% | -99.96% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -91.28% | -6.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 12.39% | +6.07% |
Volatility
DRV vs. SRS - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 13.26% compared to ProShares UltraShort Real Estate (SRS) at 8.83%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than SRS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DRV | SRS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.26% | 8.83% | +4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 22.18% | +10.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 28.47% | +13.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 37.79% | +19.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 40.81% | +22.03% |
DRV vs. SRS - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than SRS's 0.95% expense ratio.
Dividends
DRV vs. SRS - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.94%, more than SRS's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SRS ProShares UltraShort Real Estate | 3.65% | 3.61% | 6.06% | 4.49% | 0.30% | 0.00% | 0.19% | 1.80% | 0.47% |
Frequently Asked Questions
With a correlation of 0.99, DRV and SRS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DRV has higher volatility (13.26%) compared to SRS (8.83%). In terms of maximum drawdown, DRV dropped -99.99% vs SRS's -99.96%.
On 10-year performance, SRS leads with -15.88% vs -27.93% for DRV. On fees, SRS is cheaper at 0.95% per year. On volatility, SRS has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SRS has performed better with a -15.88% return vs -27.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SRS 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 3.65% for SRS.
DRV tracks MSCI US REIT Index (-300%), while SRS tracks Dow Jones U.S. Real Estate Index (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.08% for DRV and 0.95% for SRS.
SRS currently has the higher Sharpe Ratio (-0.61 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 SRS
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