EURL vs. DRN
EURL (Direxion Daily FTSE Europe Bull 3x Shares) and DRN (Direxion Daily Real Estate Bull 3x Shares) are both exchange-traded funds - EURL is a Leveraged Equities fund tracking the FTSE Developed Europe Index (300%), while DRN is a REIT fund tracking the MSCI US REIT Index (300%). Both are passively managed. Over the past 10 years, EURL returned 10.87%/yr vs -6.51%/yr for DRN. At a 0.49 correlation, their price movements are largely independent. EURL charges 1.07%/yr vs 0.99%/yr for DRN.
Performance
EURL vs. DRN - Performance Comparison
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Returns By Period
In the year-to-date period, EURL achieves a 13.43% return, which is significantly lower than DRN's 33.89% return. Over the past 10 years, EURL has outperformed DRN with an annualized return of 10.87%, while DRN has yielded a comparatively lower -6.51% annualized return.
EURL
- 1D
- 3.50%
- 1M
- 0.26%
- 6M
- 8.58%
- YTD
- 13.43%
- 1Y
- 38.54%
- 3Y*
- 27.58%
- 5Y*
- 7.62%
- 10Y*
- 10.87%
- ALL TIME*
- 2.52%
DRN
- 1D
- -0.27%
- 1M
- 10.75%
- 6M
- 25.08%
- YTD
- 33.89%
- 1Y
- 16.77%
- 3Y*
- 6.16%
- 5Y*
- -10.93%
- 10Y*
- -6.51%
- ALL TIME*
- 14.20%
EURL vs. DRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EURL Direxion Daily FTSE Europe Bull 3x Shares | 13.43% | 105.85% | -11.42% | 44.19% | -54.41% | 46.59% | -23.19% | 72.61% | -46.39% | 91.32% |
DRN Direxion Daily Real Estate Bull 3x Shares | 33.89% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
Correlation
The correlation between EURL and DRN is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2014 | 0.49 |
The correlation between EURL and DRN shifts across timeframes, from 0.39 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EURL vs. DRN — Risk / Return Rank
EURL
DRN
EURL vs. DRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) and Direxion Daily Real Estate Bull 3x Shares (DRN). 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.
| EURL | DRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.10 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 0.69 | +0.48 |
| Martin ratioReturn relative to average drawdown | 3.55 | 1.54 | +2.01 |
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Drawdowns
EURL vs. DRN - Drawdown Comparison
The maximum EURL drawdown since its inception was -84.65%, roughly equal to the maximum DRN drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for EURL and DRN.
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Drawdown Indicators
| EURL | DRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.65% | -86.32% | +1.67% |
Max Drawdown (1Y)Largest decline over 1 year | -33.05% | -24.28% | -8.77% |
Max Drawdown (3Y)Largest decline over 3 years | -38.81% | -48.26% | +9.45% |
Max Drawdown (5Y)Largest decline over 5 years | -75.24% | -80.58% | +5.34% |
Max Drawdown (10Y)Largest decline over 10 years | -84.65% | -86.32% | +1.67% |
Current DrawdownCurrent decline from peak | -9.00% | -61.82% | +52.82% |
Average DrawdownAverage peak-to-trough decline | -36.70% | -35.27% | -1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.89% | 10.92% | -0.03% |
Volatility
EURL vs. DRN - Volatility Comparison
The current volatility for Direxion Daily FTSE Europe Bull 3x Shares (EURL) is 11.85%, while Direxion Daily Real Estate Bull 3x Shares (DRN) has a volatility of 14.03%. This indicates that EURL experiences smaller price fluctuations and is considered to be less risky than DRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EURL | DRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.85% | 14.03% | -2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 41.44% | 33.15% | +8.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.96% | 42.57% | +5.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.42% | 56.85% | -3.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.44% | 60.80% | -6.36% |
EURL vs. DRN - Expense Ratio Comparison
EURL has a 1.07% expense ratio, which is higher than DRN's 0.99% expense ratio.
Dividends
EURL vs. DRN - Dividend Comparison
EURL's dividend yield for the trailing twelve months is around 1.59%, less than DRN's 1.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 1.84% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% |
EURL Direxion Daily FTSE Europe Bull 3x Shares | 1.59% | 1.50% | 3.51% | 2.50% | 1.80% | 0.33% | 0.41% | 1.17% | 3.07% | 0.38% |
Frequently Asked Questions
EURL and DRN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRN has higher volatility (14.03%) compared to EURL (11.85%). In terms of maximum drawdown, EURL dropped -84.65% vs DRN's -86.32%.
On 10-year performance, EURL leads with 10.87% vs -6.51% for DRN. On fees, DRN is cheaper at 0.99% per year. On volatility, EURL has been the lower-risk option at 11.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EURL has performed better with a 10.87% return vs -6.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRN is cheaper with a 0.99% expense ratio, compared with 1.07% for EURL.
DRN has the higher dividend yield at 1.84%, compared with 1.59% for EURL.
EURL is categorized as Leveraged Equities, while DRN is REIT. EURL tracks FTSE Developed Europe Index (300%), while DRN tracks MSCI US REIT Index (300%). Their fees differ too: 1.07% for EURL and 0.99% for DRN.
EURL currently has the higher Sharpe Ratio (0.81 vs 0.40), 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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