SRHR vs. DRN

Last updated Jun 3, 2026

SRHR (SRH REIT Covered Call ETF) and DRN (Direxion Daily Real Estate Bull 3x Shares) are both REIT funds. SRHR is actively managed, while DRN is passively managed. Over the past year, SRHR returned 12.18% vs 6.60% for DRN. Their correlation of 0.90 suggests significant overlap in exposure. SRHR charges 0.75%/yr vs 0.99%/yr for DRN.

Performance

SRHR vs. DRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SRH REIT Covered Call ETF (SRHR) and Direxion Daily Real Estate Bull 3x Shares (DRN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SRHR achieves a 10.80% return, which is significantly lower than DRN's 19.36% return.

SRHR

• 1D: 0.50%
• 1M: 2.10%
• YTD: 10.80%
• 6M: 9.82%
• 1Y: 12.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DRN

• 1D: 1.30%
• 1M: -6.56%
• YTD: 19.36%
• 6M: 16.51%
• 1Y: 6.60%
• 3Y*: 7.32%
• 5Y*: -11.56%
• 10Y*: -5.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SRHR vs. DRN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SRHR SRH REIT Covered Call ETF	10.80%	-0.91%	3.94%	15.82%
DRN Direxion Daily Real Estate Bull 3x Shares	19.36%	-11.24%	-5.29%	57.73%

Correlation

The correlation between SRHR and DRN is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Nov 3, 2023	0.90

The correlation between SRHR and DRN has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

SRHR vs. DRN - Sectors Allocation Comparison

Sectors	SRHR	DRN
Real Estate	100.0%	19.6%
Basic Materials	-	0.4%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SRHR vs. DRN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SRHR

SRHR Risk / Return Rank: 27
SRHR Sharpe Ratio Rank: 26
SRHR Sortino Ratio Rank: 26
SRHR Omega Ratio Rank: 25
SRHR Calmar Ratio Rank: 29
SRHR Martin Ratio Rank: 29

DRN

DRN Risk / Return Rank: 12
DRN Sharpe Ratio Rank: 11
DRN Sortino Ratio Rank: 12
DRN Omega Ratio Rank: 12
DRN Calmar Ratio Rank: 12
DRN Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SRHR vs. DRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SRH REIT Covered Call ETF (SRHR) 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.

	SRHR	DRN	Difference
Sharpe ratio Return per unit of total volatility	0.95	0.17	+0.79
Sortino ratio Return per unit of downside risk	1.39	0.50	+0.90
Omega ratio Gain probability vs. loss probability	1.17	1.06	+0.11
Calmar ratio Return relative to maximum drawdown	1.45	0.29	+1.16
Martin ratio Return relative to average drawdown	4.30	0.65	+3.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SRHR vs. DRN - Sharpe Ratio Comparison

The current SRHR Sharpe Ratio is 0.95, which is higher than the DRN Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of SRHR and DRN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SRHR	DRN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	0.17	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.21	+0.52

Drawdowns

SRHR vs. DRN - Drawdown Comparison

The maximum SRHR drawdown since its inception was -18.68%, smaller than the maximum DRN drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for SRHR and DRN.

Drawdown Indicators

	SRHR	DRN	Difference
Max Drawdown Largest peak-to-trough decline	-18.68%	-86.32%	+67.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-24.28%	+15.94%
Max Drawdown (3Y) Largest decline over 3 years	—	-48.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-80.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.32%	—
Current Drawdown Current decline from peak	-1.93%	-65.97%	+64.04%
Average Drawdown Average peak-to-trough decline	-4.93%	-35.06%	+30.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	10.89%	-8.07%

Volatility

SRHR vs. DRN - Volatility Comparison

The current volatility for SRH REIT Covered Call ETF (SRHR) is 4.24%, while Direxion Daily Real Estate Bull 3x Shares (DRN) has a volatility of 11.21%. This indicates that SRHR 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.

Volatility by Period

	SRHR	DRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	11.21%	-6.97%
Volatility (6M) Calculated over the trailing 6-month period	9.54%	29.18%	-19.64%
Volatility (1Y) Calculated over the trailing 1-year period	12.85%	40.04%	-27.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.84%	56.66%	-40.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.84%	60.62%	-44.78%

SRHR vs. DRN - Expense Ratio Comparison

SRHR has a 0.75% expense ratio, which is lower than DRN's 0.99% expense ratio.

Dividends

SRHR vs. DRN - Dividend Comparison

SRHR's dividend yield for the trailing twelve months is around 6.40%, more than DRN's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRN Direxion Daily Real Estate Bull 3x Shares	2.23%	2.81%	2.24%	2.84%	2.70%	4.21%	1.90%	2.59%	3.11%	0.91%
SRHR SRH REIT Covered Call ETF	6.40%	7.07%	6.90%	0.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SRHR and DRN in my portfolio?

SRHR and DRN have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SRHR or DRN?

DRN has higher volatility (11.21%) compared to SRHR (4.24%). In terms of maximum drawdown, SRHR dropped -18.68% vs DRN's -86.32%.

Which ETF is better, SRHR or DRN?

On 1-year performance, SRHR leads with 12.18% vs 6.60% for DRN. On fees, SRHR is cheaper at 0.75% per year. On volatility, SRHR has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SRHR or DRN?

Over the 1-year period, SRHR has performed better with a 12.18% return vs 6.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SRHR or DRN?

SRHR is cheaper with a 0.75% expense ratio, compared with 0.99% for DRN.

Which ETF pays a higher dividend yield, SRHR or DRN?

SRHR has the higher dividend yield at 6.40%, compared with 2.23% for DRN.

What is the main difference between SRHR and DRN?

They also come from different issuers: SRH and Direxion. Their fees differ too: 0.75% for SRHR and 0.99% for DRN.

Which has better risk-adjusted returns?

SRHR currently has the higher Sharpe Ratio (0.95 vs 0.17), 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.