JRE vs. DRN
JRE (Janus Henderson U.S. Real Estate ETF) and DRN (Direxion Daily Real Estate Bull 3x Shares) are both REIT funds. JRE is actively managed, while DRN is passively managed. Over the past 5 years, JRE returned 4.22%/yr vs -11.80%/yr for DRN. Their correlation of 0.95 means they have usually moved in the same direction. JRE charges 0.65%/yr vs 0.99%/yr for DRN.
Performance
JRE vs. DRN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JRE achieves a 21.26% return, which is significantly lower than DRN's 32.35% return.
JRE
- 1D
- -0.56%
- 1M
- 1.57%
- 6M
- 18.21%
- YTD
- 21.26%
- 1Y
- 25.57%
- 3Y*
- 11.22%
- 5Y*
- 4.22%
- 10Y*
- —
- ALL TIME*
- 5.28%
DRN
- 1D
- -1.59%
- 1M
- 1.27%
- 6M
- 24.19%
- YTD
- 32.35%
- 1Y
- 22.62%
- 3Y*
- 7.14%
- 5Y*
- -11.80%
- 10Y*
- -6.41%
- ALL TIME*
- 14.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.18M | $8.89M | $10.29M | |
| $46.81K | $44.87K | $37.37K |
JRE vs. DRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JRE Janus Henderson U.S. Real Estate ETF | 21.26% | 2.97% | 7.65% | 8.79% | -23.47% | 16.20% |
DRN Direxion Daily Real Estate Bull 3x Shares | 32.35% | -11.24% | -5.29% | 12.03% | -67.26% | 44.03% |
Correlation
The correlation between JRE and DRN is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2021 | 0.95 |
The correlation between JRE and DRN has been stable across timeframes, ranging from 0.91 to 0.95 - 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
JRE vs. DRN — Risk / Return Rank
JRE
DRN
JRE vs. DRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Janus Henderson U.S. Real Estate ETF (JRE) 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.
| JRE | DRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.12 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 0.88 | +2.74 |
| Martin ratioReturn relative to average drawdown | 11.81 | 2.33 | +9.47 |
Loading charts...
Drawdowns
JRE vs. DRN - Drawdown Comparison
The maximum JRE drawdown since its inception was -31.69%, smaller than the maximum DRN drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for JRE and DRN.
Loading charts...
Drawdown Indicators
| JRE | DRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.69% | -86.32% | +54.63% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -24.28% | +17.14% |
Max Drawdown (3Y)Largest decline over 3 years | -18.37% | -48.26% | +29.89% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | -80.58% | +48.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.32% | — |
Current DrawdownCurrent decline from peak | -2.97% | -62.26% | +59.29% |
Average DrawdownAverage peak-to-trough decline | -12.26% | -35.32% | +23.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 9.16% | -6.98% |
Volatility
JRE vs. DRN - Volatility Comparison
The current volatility for Janus Henderson U.S. Real Estate ETF (JRE) is 5.05%, while Direxion Daily Real Estate Bull 3x Shares (DRN) has a volatility of 13.15%. This indicates that JRE 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.
Loading charts...
Volatility by Period
| JRE | DRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.05% | 13.15% | -8.10% |
Volatility (6M)Calculated over the trailing 6-month period | 11.02% | 33.01% | -21.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.93% | 42.10% | -28.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.75% | 56.91% | -38.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.69% | 60.80% | -42.11% |
JRE vs. DRN - Expense Ratio Comparison
JRE has a 0.65% expense ratio, which is lower than DRN's 0.99% expense ratio.
Dividends
JRE vs. DRN - Dividend Comparison
JRE's dividend yield for the trailing twelve months is around 4.64%, more than DRN's 1.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 1.87% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% |
JRE Janus Henderson U.S. Real Estate ETF | 4.64% | 5.81% | 2.20% | 2.77% | 2.87% | 0.90% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, JRE and DRN 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.
DRN has higher volatility (13.15%) compared to JRE (5.05%). In terms of maximum drawdown, JRE dropped -31.69% vs DRN's -86.32%.
On 5-year performance, JRE leads with 4.22% vs -11.80% for DRN. On fees, JRE is cheaper at 0.65% per year. On volatility, JRE has been the lower-risk option at 5.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JRE has performed better with a 4.22% return vs -11.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JRE is cheaper with a 0.65% expense ratio, compared with 0.99% for DRN.
JRE has the higher dividend yield at 4.64%, compared with 1.87% for DRN.
They also come from different issuers: Janus Henderson and Direxion. Their fees differ too: 0.65% for JRE and 0.99% for DRN.
JRE currently has the higher Sharpe Ratio (1.87 vs 0.51), 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 JRE and DRN
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