DRV vs. URE
DRV (Direxion Daily Real Estate Bear 3x Shares) and URE (ProShares Ultra Real Estate) are both REIT funds - DRV tracks the MSCI US REIT Index (-300%) while URE 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 2.02%/yr for URE. Their -0.99 correlation means they have often moved in opposite directions in the past. DRV charges 1.08%/yr vs 0.95%/yr for URE.
Performance
DRV vs. URE - 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 URE's 22.49% return. Over the past 10 years, DRV has underperformed URE with an annualized return of -27.93%, while URE has yielded a comparatively higher 2.02% 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%
URE
- 1D
- -1.02%
- 1M
- 1.20%
- 6M
- 17.22%
- YTD
- 22.49%
- 1Y
- 17.43%
- 3Y*
- 8.91%
- 5Y*
- -4.19%
- 10Y*
- 2.02%
- ALL TIME*
- -3.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.36M | $3.03M | $2.54M | |
| $671.44K | $397.42K | $253.68K |
DRV vs. URE - 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% |
URE ProShares Ultra Real Estate | 22.49% | -3.65% | 0.35% | 11.58% | -49.64% | 88.24% | -28.06% | 57.86% | -13.80% | 16.56% |
Correlation
The correlation between DRV and URE is -0.99, 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. | -0.99 |
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 URE has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.
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Return for Risk
DRV vs. URE — Risk / Return Rank
DRV
URE
DRV vs. URE - 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 Real Estate (URE). 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 | URE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.12 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 1.04 | -1.78 |
| Martin ratioReturn relative to average drawdown | -1.49 | 2.86 | -4.35 |
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Drawdowns
DRV vs. URE - Drawdown Comparison
The maximum DRV drawdown since its inception was -99.99%, roughly equal to the maximum URE drawdown of -97.16%. Use the drawdown chart below to compare losses from any high point for DRV and URE.
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Drawdown Indicators
| DRV | URE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -97.16% | -2.83% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -16.50% | -21.03% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -33.77% | -40.12% |
Max Drawdown (5Y)Largest decline over 5 years | -76.13% | -63.66% | -12.47% |
Max Drawdown (10Y)Largest decline over 10 years | -97.60% | -70.49% | -27.11% |
Current DrawdownCurrent decline from peak | -99.99% | -49.14% | -50.85% |
Average DrawdownAverage peak-to-trough decline | -97.77% | -64.38% | -33.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.46% | 6.00% | +12.46% |
Volatility
DRV vs. URE - Volatility Comparison
Direxion Daily Real Estate Bear 3x Shares (DRV) has a higher volatility of 13.26% compared to ProShares Ultra Real Estate (URE) at 8.85%. This indicates that DRV's price experiences larger fluctuations and is considered to be riskier than URE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRV | URE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.26% | 8.85% | +4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 33.11% | 22.09% | +11.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.46% | 28.19% | +14.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.15% | 37.50% | +19.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.84% | 40.68% | +22.16% |
DRV vs. URE - Expense Ratio Comparison
DRV has a 1.08% expense ratio, which is higher than URE's 0.95% expense ratio.
Dividends
DRV vs. URE - Dividend Comparison
DRV's dividend yield for the trailing twelve months is around 3.94%, more than URE's 1.99% 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% |
URE ProShares Ultra Real Estate | 1.99% | 2.42% | 2.09% | 1.32% | 1.26% | 0.58% | 0.94% | 1.10% | 1.53% | 0.93% | 0.96% | 0.81% |
Frequently Asked Questions
DRV and URE have a correlation of -0.99, 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 URE (8.85%). In terms of maximum drawdown, DRV dropped -99.99% vs URE's -97.16%.
On 10-year performance, URE leads with 2.02% vs -27.93% for DRV. On fees, URE is cheaper at 0.95% per year. On volatility, URE has been the lower-risk option at 8.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, URE has performed better with a 2.02% return vs -27.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
URE 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 1.99% for URE.
DRV tracks MSCI US REIT Index (-300%), while URE 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 URE.
URE currently has the higher Sharpe Ratio (0.62 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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