DRN vs URE: which held to its multiple?
Over three months against its own daily promise, DRN finished 1.6 points short and URE 0.8 points short. Direxion Daily Real Estate Bull 3X ETF and ProShares Ultra Real Estate.
DRN returned −21.6% while 3 times IYR's move would have been −20.3%
URE returned −14.3% while 2 times IYR's move would have been −13.6%
A percentile among the 470 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
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | DRN | URE | DRN | URE | DRN | URE |
| 1 month | −19.3% | −13.0% | −20.1% | −13.4% | +0.8 pts | +0.4 pts |
| 3 months | −21.6% | −14.3% | −20.3% | −13.6% | −1.3 pts | −0.7 pts |
| 6 months | −3.1% | −0.6% | +4.2% | +2.8% | −7.4 pts | −3.4 pts |
| 1 year | −13.2% | −6.3% | +0.9% | +0.6% | −14.1 pts | −7.0 pts |
| 3 years | +30.1% | +34.5% | +92.7% | +61.8% | −62.5 pts | −27.3 pts |
| Since launch DRN Jan 2010 · URE Jan 2010 | +165.2% | +326.6% | not meaningful | not meaningful | not meaningful | not meaningful |
DRN and URE over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
DRN and URE on the same fields, as of Sep 30, 2026. Source: ETFIQ.
DRN in plain words
Three months to Sep 30, 2026: DRN returned −21.6% where its own daily promise gave −20.0%, 1.6 points short. Read the multiple against the whole window instead and 3 times IYR's −6.8% implies −20.3%, which makes DRN look 1.3 points short. 0.4 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 13% 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.
URE in plain words
Three months to Sep 30, 2026: URE returned −14.3% where its own daily promise gave −13.5%, 0.8 points short. Read the multiple against the whole window instead and 2 times IYR's −6.8% implies −13.6%, which makes URE look 0.7 points short. 0.1 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. URE aims to return +2 times IYR's move each day, then resets. Over longer, the daily results compound, so the total is not +2 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 URE?
- Over the window to Sep 30, 2026, DRN finished 1.3 points from what its multiple implies and URE finished 0.7 points from its own, so URE came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are DRN and URE levered on the same thing?
- Yes. Both are levered on iShares U.S. Real Estate ETF, DRN at +3 times and URE at +2 times the daily move.
- Which one decays faster, DRN or URE?
- Decay follows how much the underlying moves about. Over this window DRN’s moved at 13% annualized and URE’s at 13%, so DRN has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold DRN or URE 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.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, DRN against URE, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/drn-vs-ure
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, DRN against URE, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/drn-vs-ure Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, DRN against URE, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/drn-vs-ure
- APA
- ETFIQ. (Sep 30, 2026). DRN against URE. Retrieved from https://etfiq.com/compare/leverage/drn-vs-ure
- Markdown
- [DRN against URE (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/drn-vs-ure)