DRV vs SRS: which held to its multiple?
Over three months against its own daily promise, DRV finished 3.5 points over and SRS 2.5 points over. Direxion Daily Real Estate Bear 3X ETF and ProShares UltraShort Real Estate.
DRV returned +23.9% while −3 times IYR's move would have been +20.3%
SRS returned +16.1% while −2 times IYR's move would have been +13.6%
A percentile among the 125 inverse ETFs 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 | DRV | SRS | DRV | SRS | DRV | SRS |
| 1 month | +22.7% | +15.0% | +20.1% | +13.4% | +2.6 pts | +1.6 pts |
| 3 months | +23.9% | +16.1% | +20.3% | +13.6% | +3.6 pts | +2.6 pts |
| 6 months | −4.0% | −1.1% | −4.2% | −2.8% | +0.2 pts | +1.7 pts |
| 1 year | +1.3% | +3.5% | −0.9% | −0.6% | +2.2 pts | +4.2 pts |
| 3 years | −56.8% | −36.2% | −92.7% | −61.8% | +35.9 pts | +25.6 pts |
| Since launch DRV Jan 2010 · SRS Jan 2010 | −100.0% | −98.5% | not meaningful | not meaningful | not meaningful | not meaningful |
DRV and SRS over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
DRV and SRS on the same fields, as of Sep 30, 2026. Source: ETFIQ.
DRV in plain words
Three months to Sep 30, 2026: DRV returned +23.9% where its own daily promise gave +20.4%, 3.5 points over. Read the multiple against the whole window instead and −3 times IYR's −6.8% implies +20.3%, which makes DRV look 3.6 points over. 0.1 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 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.
SRS in plain words
Three months to Sep 30, 2026: SRS returned +16.1% where its own daily promise gave +13.6%, 2.5 points over. Read the multiple against the whole window instead and −2 times IYR's −6.8% implies +13.6%, which makes SRS look 2.6 points over. 0.1 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. SRS 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, DRV or SRS?
- Over the window to Sep 30, 2026, DRV finished 3.6 points from what its multiple implies and SRS finished 2.6 points from its own, so SRS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are DRV and SRS levered on the same thing?
- Yes. Both are levered on iShares U.S. Real Estate ETF, DRV at -3 times and SRS at -2 times the daily move.
- Which one decays faster, DRV or SRS?
- Decay follows how much the underlying moves about. Over this window DRV’s moved at 13% annualized and SRS’s at 13%, so DRV has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold DRV or SRS 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, DRV against SRS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/drv-vs-srs
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, DRV against SRS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/drv-vs-srs Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, DRV against SRS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/drv-vs-srs
- APA
- ETFIQ. (Sep 30, 2026). DRV against SRS. Retrieved from https://etfiq.com/compare/leverage/drv-vs-srs
- Markdown
- [DRV against SRS (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/drv-vs-srs)