EDZ vs. DRV
EDZ (Direxion Daily Emerging Markets Bear 3X Shares) and DRV (Direxion Daily Real Estate Bear 3x Shares) are both exchange-traded funds - EDZ is a Leveraged Equities fund tracking the MSCI Emerging Markets Index (-300%), while DRV is a REIT fund tracking the MSCI US REIT Index (-300%). Both are passively managed. Over the past 10 years, EDZ returned -34.27%/yr vs -27.93%/yr for DRV. Their 0.46 correlation means their historical movements had little consistent relationship. Both charge a 1.08% expense ratio.
Performance
EDZ vs. DRV - Performance Comparison
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Returns By Period
In the year-to-date period, EDZ achieves a -51.36% return, which is significantly lower than DRV's -31.44% return. Over the past 10 years, EDZ has underperformed DRV with an annualized return of -34.27%, while DRV has yielded a comparatively higher -27.93% annualized return.
EDZ
- 1D
- -2.59%
- 1M
- 4.19%
- 6M
- -38.26%
- YTD
- -51.36%
- 1Y
- -67.69%
- 3Y*
- -43.25%
- 5Y*
- -26.30%
- 10Y*
- -34.27%
- ALL TIME*
- -40.49%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.36M | $3.03M | $2.54M | |
| $5.00M | $3.72M | $4.38M |
EDZ vs. DRV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EDZ Direxion Daily Emerging Markets Bear 3X Shares | -51.36% | -59.30% | -12.71% | -20.28% | 49.27% | -8.69% | -68.79% | -43.01% | 32.87% | -64.12% |
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% |
Correlation
The correlation between EDZ and DRV is 0.05, 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. | 0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.35 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2009 | 0.46 |
Over the past year, the correlation between EDZ and DRV has dropped to 0.05 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
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Return for Risk
EDZ vs. DRV — Risk / Return Rank
EDZ
DRV
EDZ vs. DRV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bear 3X Shares (EDZ) and Direxion Daily Real Estate Bear 3x Shares (DRV). 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.
| EDZ | DRV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 0.91 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.74 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.41 | -1.49 | +0.09 |
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Drawdowns
EDZ vs. DRV - Drawdown Comparison
The maximum EDZ drawdown since its inception was -99.99%, roughly equal to the maximum DRV drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for EDZ and DRV.
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Drawdown Indicators
| EDZ | DRV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -99.99% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -74.94% | -37.53% | -37.41% |
Max Drawdown (3Y)Largest decline over 3 years | -90.46% | -73.89% | -16.57% |
Max Drawdown (5Y)Largest decline over 5 years | -92.91% | -76.13% | -16.78% |
Max Drawdown (10Y)Largest decline over 10 years | -98.90% | -97.60% | -1.30% |
Current DrawdownCurrent decline from peak | -99.99% | -99.99% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -97.74% | -97.77% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.58% | 18.46% | +29.12% |
Volatility
EDZ vs. DRV - Volatility Comparison
Direxion Daily Emerging Markets Bear 3X Shares (EDZ) has a higher volatility of 27.48% compared to Direxion Daily Real Estate Bear 3x Shares (DRV) at 13.26%. This indicates that EDZ's price experiences larger fluctuations and is considered to be riskier than DRV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EDZ | DRV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.48% | 13.26% | +14.22% |
Volatility (6M)Calculated over the trailing 6-month period | 66.43% | 33.11% | +33.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.99% | 42.46% | +30.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.75% | 57.15% | +2.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.90% | 62.84% | -0.94% |
EDZ vs. DRV - Expense Ratio Comparison
Both EDZ and DRV have an expense ratio of 1.08%.
Dividends
EDZ vs. DRV - Dividend Comparison
EDZ's dividend yield for the trailing twelve months is around 6.88%, more than DRV's 3.94% 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% |
EDZ Direxion Daily Emerging Markets Bear 3X Shares | 6.88% | 6.58% | 4.87% | 4.34% | 0.00% | 0.00% | 0.82% | 1.67% | 0.68% |
Frequently Asked Questions
EDZ and DRV have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EDZ has higher volatility (27.48%) compared to DRV (13.26%). In terms of maximum drawdown, EDZ dropped -99.99% vs DRV's -99.99%.
On 10-year performance, DRV leads with -27.93% vs -34.27% for EDZ. Both ETFs have the same 1.08% expense ratio. 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, DRV has performed better with a -27.93% return vs -34.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EDZ and DRV have the same expense ratio: 1.08% per year.
EDZ has the higher dividend yield at 6.88%, compared with 3.94% for DRV.
EDZ is categorized as Leveraged Equities, while DRV is REIT. EDZ tracks MSCI Emerging Markets Index (-300%), while DRV tracks MSCI US REIT Index (-300%).
DRV currently has the higher Sharpe Ratio (-0.66 vs -0.92), 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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