SCHH vs. DRN
SCHH (Schwab US REIT ETF) and DRN (Direxion Daily Real Estate Bull 3x Shares) are both REIT funds - SCHH tracks the Dow Jones Equity All REIT Capped Index while DRN tracks the MSCI US REIT Index (300%). Both are passively managed. Over the past 10 years, SCHH returned 4.16%/yr vs -4.97%/yr for DRN. With a 0.98 correlation, they move nearly in lockstep. SCHH charges 0.07%/yr vs 0.99%/yr for DRN.
Performance
SCHH vs. DRN - Performance Comparison
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Returns By Period
In the year-to-date period, SCHH achieves a 13.92% return, which is significantly lower than DRN's 25.50% return. Over the past 10 years, SCHH has outperformed DRN with an annualized return of 4.16%, while DRN has yielded a comparatively lower -4.97% annualized return.
SCHH
- 1D
- 1.24%
- 1M
- -0.08%
- YTD
- 13.92%
- 6M
- 14.36%
- 1Y
- 14.58%
- 3Y*
- 11.60%
- 5Y*
- 3.36%
- 10Y*
- 4.16%
DRN
- 1D
- 3.81%
- 1M
- -2.48%
- YTD
- 25.50%
- 6M
- 26.99%
- 1Y
- 12.78%
- 3Y*
- 11.24%
- 5Y*
- -10.91%
- 10Y*
- -4.97%
SCHH vs. DRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCHH Schwab US REIT ETF | 13.92% | 2.20% | 4.99% | 11.18% | -24.99% | 41.07% | -14.81% | 22.85% | -4.26% | 3.68% |
DRN Direxion Daily Real Estate Bull 3x Shares | 25.50% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
Correlation
The correlation between SCHH and DRN is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2011 | 0.98 |
The correlation between SCHH and DRN has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
SCHH vs. DRN — Risk / Return Rank
SCHH
DRN
SCHH vs. DRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab US REIT ETF (SCHH) 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.
| SCHH | DRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.09 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 0.53 | +1.24 |
| Martin ratioReturn relative to average drawdown | 5.53 | 1.17 | +4.36 |
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Drawdowns
SCHH vs. DRN - Drawdown Comparison
The maximum SCHH drawdown since its inception was -44.22%, smaller than the maximum DRN drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for SCHH and DRN.
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Drawdown Indicators
| SCHH | DRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.22% | -86.32% | +42.10% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -24.28% | +16.00% |
Max Drawdown (3Y)Largest decline over 3 years | -17.76% | -48.26% | +30.50% |
Max Drawdown (5Y)Largest decline over 5 years | -33.28% | -80.58% | +47.30% |
Max Drawdown (10Y)Largest decline over 10 years | -44.22% | -86.32% | +42.10% |
Current DrawdownCurrent decline from peak | -2.07% | -64.22% | +62.15% |
Average DrawdownAverage peak-to-trough decline | -9.43% | -35.14% | +25.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 10.95% | -8.31% |
Volatility
SCHH vs. DRN - Volatility Comparison
The current volatility for Schwab US REIT ETF (SCHH) is 5.21%, while Direxion Daily Real Estate Bull 3x Shares (DRN) has a volatility of 15.38%. This indicates that SCHH 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
| SCHH | DRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 15.38% | -10.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 31.62% | -21.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.86% | 42.08% | -28.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.76% | 56.83% | -38.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.02% | 60.77% | -39.75% |
SCHH vs. DRN - Expense Ratio Comparison
SCHH has a 0.07% expense ratio, which is lower than DRN's 0.99% expense ratio.
Dividends
SCHH vs. DRN - Dividend Comparison
SCHH's dividend yield for the trailing twelve months is around 2.75%, more than DRN's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 2.12% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% | 0.00% | 0.00% |
SCHH Schwab US REIT ETF | 2.75% | 3.04% | 3.22% | 3.24% | 2.55% | 1.50% | 2.86% | 2.86% | 3.64% | 2.22% | 2.81% | 2.48% |
Frequently Asked Questions
With a correlation of 0.97, SCHH 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 (15.38%) compared to SCHH (5.21%). In terms of maximum drawdown, SCHH dropped -44.22% vs DRN's -86.32%.
On 10-year performance, SCHH leads with 4.16% vs -4.97% for DRN. On fees, SCHH is cheaper at 0.07% per year. On volatility, SCHH has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHH has performed better with a 4.16% return vs -4.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHH is cheaper with a 0.07% expense ratio, compared with 0.99% for DRN.
SCHH has the higher dividend yield at 2.75%, compared with 2.12% for DRN.
SCHH tracks Dow Jones Equity All REIT Capped Index, while DRN tracks MSCI US REIT Index (300%). They also come from different issuers: Charles Schwab and Direxion. Their fees differ too: 0.07% for SCHH and 0.99% for DRN.
SCHH currently has the higher Sharpe Ratio (1.06 vs 0.31), 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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