Data as of .
DRN vs DRV: which held to its multiple?
Over three months against its own daily promise, DRN finished 3.4 points short and DRV 5.6 points over.
ETFIQ Decay Resistance Score: DRV scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| DRN | DRV | DRN | DRV | DRN | DRV | |
| 1 month | −8.4% | +8.6% | −8.0% | +8.0% | −0.4 pts | +0.6 pts |
| 3 months | −13.5% | +11.8% | −9.0% | +9.0% | −4.6 pts | +2.8 pts |
| 6 months | +4.3% | −11.9% | +12.4% | −12.4% | −8.1 pts | +0.6 pts |
| 1 year | +0.3% | −11.9% | +14.2% | −14.2% | −13.9 pts | +2.3 pts |
| 3 years | +23.9% | −55.3% | +87.1% | −87.1% | −63.2 pts | +31.8 pts |
| Since launch | +210.4% | −100.0% | not meaningful | not meaningful | not meaningful | not meaningful |
| DRN Direxion Daily Real Estate Bull 3X ETF Aims to return three times the daily move of ISHARES U.S. REAL ESTATE ETF (IYR) | DRV Direxion Daily Real Estate Bear 3X ETF Aims to return three times the opposite of the daily move of ISHARES U.S. REAL ESTATE ETF (IYR) | |
|---|---|---|
| Issuer | Direxion | Direxion |
| Sets out to return | +3x | -3x |
| On | IYR | IYR |
| Segment | sector | sector |
| Fund returned, 3 months | −13.5% | +11.8% |
| Underlying returned, 3 months | −3.0% | −3.0% |
| What the stated multiple implies, 3 months | −9.0% | +9.0% |
| Difference from stated, 3 months | −4.6 pts | +2.8 pts |
| Fund returned, 1 year or since launch | +0.3% | −11.9% |
| Difference from stated, over that window | −13.9 pts | +2.3 pts |
| Underlying volatility | 14% | 14% |
| Expense ratio | 0.98% | 1.06% |
| Launched | Jan 4, 2010 | Jan 4, 2010 |
DRN in plain words
Three months to Sep 11, 2026: DRN returned −13.5% where its own daily promise gave −10.1%, 3.4 points short. Read the multiple against the whole window instead and +3 times IYR's −3.0% implies −9.0%, which makes DRN look 4.6 points short. 1.1 of that is daily compounding, which happens to any +3 times fund over the same path, and the rest is the fund. DRN aims to return +3 times IYR's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +3 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. IYR moved at 14% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
DRV in plain words
Three months to Sep 11, 2026: DRV returned +11.8% where its own daily promise gave +6.2%, 5.6 points over. Read the multiple against the whole window instead and −3 times IYR's −3.0% implies +9.0%, which makes DRV look 2.8 points over. 2.8 of that is daily compounding, which happens to any −3 times fund over the same path, and the rest is the fund. DRV aims to return -3 times IYR's move each day, then resets. Over longer, the daily results compound, so the total is not -3 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, DRN or DRV?
- Over the window to Sep 11, 2026, DRN finished 4.6 points from what its multiple implies and DRV finished 2.8 points from its own, so DRV came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are DRN and DRV levered on the same thing?
- Yes. Both are levered on ISHARES U.S. REAL ESTATE ETF, DRN at +3 times and DRV at -3 times the daily move.
- Which one decays faster, DRN or DRV?
- Decay follows how much the underlying moves about. Over this window DRN’s moved at 14% annualized and DRV’s at 14%, so DRN has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold DRN or DRV for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, DRN or DRV?
- DRN charges 0.98% a year and DRV charges 1.06%, so DRN is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, DRN against DRV, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/DRN-DRV Free to use with attribution; the underlying files are at Open data.