SRS vs. DRV
Compare and contrast key facts about ProShares UltraShort Real Estate (SRS) and Direxion Daily Real Estate Bear 3x Shares (DRV).
SRS and DRV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SRS is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Real Estate Index (-200%). It was launched on Jan 30, 2007. DRV is a passively managed fund by Direxion that tracks the performance of the MSCI US REIT Index (-300%). It was launched on Jul 16, 2009. Both SRS and DRV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SRS vs. DRV - Performance Comparison
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SRS vs. DRV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -3.53% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
DRV Direxion Daily Real Estate Bear 3x Shares | -6.09% | -7.27% | -10.50% | -33.74% | 68.51% | -68.77% | -60.48% | -51.70% | 5.07% | -17.10% |
Returns By Period
In the year-to-date period, SRS achieves a -3.53% return, which is significantly higher than DRV's -6.09% return. Over the past 10 years, SRS has outperformed DRV with an annualized return of -15.88%, while DRV has yielded a comparatively lower -28.01% annualized return.
SRS
- 1D
- -0.71%
- 1M
- 13.57%
- YTD
- -3.53%
- 6M
- 4.63%
- 1Y
- 1.08%
- 3Y*
- -8.06%
- 5Y*
- -7.46%
- 10Y*
- -15.88%
DRV
- 1D
- -1.32%
- 1M
- 20.43%
- YTD
- -6.09%
- 6M
- 5.60%
- 1Y
- -3.40%
- 3Y*
- -17.01%
- 5Y*
- -17.30%
- 10Y*
- -28.01%
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SRS vs. DRV - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is lower than DRV's 1.08% expense ratio.
Return for Risk
SRS vs. DRV — Risk / Return Rank
SRS
DRV
SRS vs. DRV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) 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.
| SRS | DRV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.03 | -0.07 | +0.10 |
Sortino ratioReturn per unit of downside risk | 0.29 | 0.26 | +0.03 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.03 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.03 | -0.08 | +0.12 |
Martin ratioReturn relative to average drawdown | 0.05 | -0.11 | +0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SRS | DRV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.03 | -0.07 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | -0.31 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.39 | -0.45 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | -0.67 | +0.18 |
Correlation
The correlation between SRS and DRV is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SRS vs. DRV - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.27%, more than DRV's 2.99% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | 3.27% | 3.61% | 6.06% | 4.49% | 0.30% | 0.00% | 0.19% | 1.80% | 0.47% |
DRV Direxion Daily Real Estate Bear 3x Shares | 2.99% | 2.88% | 4.57% | 5.35% | 0.38% | 0.00% | 0.58% | 1.71% | 0.42% |
Drawdowns
SRS vs. DRV - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, roughly equal to the maximum DRV drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for SRS and DRV.
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Drawdown Indicators
| SRS | DRV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -99.99% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -29.66% | -43.54% | +13.88% |
Max Drawdown (5Y)Largest decline over 5 years | -50.15% | -71.31% | +21.16% |
Max Drawdown (10Y)Largest decline over 10 years | -85.42% | -97.19% | +11.77% |
Current DrawdownCurrent decline from peak | -99.95% | -99.99% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -91.15% | -97.75% | +6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.95% | 31.52% | -10.57% |
Volatility
SRS vs. DRV - Volatility Comparison
The current volatility for ProShares UltraShort Real Estate (SRS) is 9.03%, while Direxion Daily Real Estate Bear 3x Shares (DRV) has a volatility of 13.67%. This indicates that SRS experiences smaller price fluctuations and is considered to be less risky 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
| SRS | DRV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.03% | 13.67% | -4.64% |
Volatility (6M)Calculated over the trailing 6-month period | 19.02% | 28.30% | -9.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.73% | 49.10% | -16.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.52% | 56.87% | -19.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.63% | 62.65% | -22.02% |