Data as of Oct 27, 2026.
DRV vs XHOA: Leverage, Returns & Decay
Over three months against its daily multiple, compounded, DRV finished 4.3 points over and XHOA 2.6 points short.
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Net assets: $28m on Oct 26, 2026 for Direxion Daily Real Estate Bear 3X ETF, and $348,615 on Oct 27, 2026 for Corgi U.S. Real Estate 2x Daily ETF.
DRV returned +25.5% while −3 times XLRE's move would have been +21.0%. Data from Jul 28, 2026 to Oct 27, 2026.
DRV returned +25.5% while −3 times XLRE's move would have been +21.0%. Data from Jul 28, 2026 to Oct 27, 2026.XHOA returned −16.5% while 2 times XLRE's move would have been −14.0%. Data from Jul 28, 2026 to Oct 27, 2026.
XHOA returned −16.5% while 2 times XLRE's move would have been −14.0%. Data from Jul 28, 2026 to Oct 27, 2026.Pair scorecard
XHOA costs 0.61 points a year less.
Points (pts) are percentage points.
| Measure | DRV | XHOA |
|---|---|---|
| Return | ||
| Total return, 1 year | −5.8% | not published |
| What its daily multiple gave, 3 months | 21.2% | −13.9% |
| Benchmark | ||
| What it tracks | Real Estate | MSCI US Investable Market Real Estate 25/50 |
| Cost and size | ||
| Expense ratio | 1.06% | 0.45% |
| Net assets, as of Oct 26, 2026 | $28m | $354,678 |
| Holdings | ||
| Holdings in common | not published | |
DRV among the 19 inverse ETFs at 3x, over three months
How closely it delivered its daily multiple over 3 months, ranked against 19 inverse ETFs at 3x, over three months and 507 leveraged ETFs at 2x, over three months. 100 is best. How it is computed
XHOA among the 507 leveraged ETFs at 2x, over three months
A percentile among the 19 inverse ETFs at 3x, over three months. XHOA is a percentile among the 507 leveraged ETFs at 2x, over three months, a different set, so the two marks are not on one scale. Three months only, against the fund's own daily multiple; a different quarter can rank it very differently. All leveraged ETFs ranked by it →
Side by side
As of Oct 27, 2026. Source: ETFIQ.
Window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | DRV | XHOA | DRV | XHOA | DRV | XHOA |
| 1 month | −6.2% | +2.9% | −6.3% | +4.2% | +0.1 pts | −1.3 pts |
| 3 months | +25.5% | −16.5% | +21.0% | −14.0% | +4.5 pts | −2.5 pts |
| 6 months | +4.9% | – | +5.1% | – | −0.2 pts | – |
| 1 year | −5.8% | – | −8.4% | – | +2.6 pts | – |
| 3 years | −66.7% | – | not meaningful | – | not meaningful | – |
| Since each record beganNot the same days: DRV Oct 2015 · XHOA Jun 2026 | −97.8% | −7.2% | not meaningful | −1.6% | not meaningful | −5.6 pts |
Source: ETFIQ. – means no data for this window. Open this comparison in the app →
Over the three months to Oct 27, 2026, DRV returned 25.5%, against 21.2% for three times the inverse of XLRE's daily moves.
Read the multiple against the whole window instead and −3 times XLRE's −7.0% implies +21.0%, which makes DRV look 4.5 points over. That is not the fund's objective, which is daily. Of that 4.5, daily compounding is +0.2 points, which any −3 times fund would show over the same path, and the fund itself is +4.3 points against −3 times each day's move, compounded. DRV aims to return -3 times XLRE's move each day, then resets. Over one day it does that. Over longer periods the daily results compound, so the total is not -3 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run. XLRE moved at 13% annualized over that window. The more it moves, the further the two numbers separate.
Over the three months to Oct 27, 2026, XHOA lost 16.5%, against −13.9% for twice XLRE's daily moves.
Read the multiple against the whole window instead and 2 times XLRE's −7.0% implies −14.0%, which makes XHOA look 2.5 points short. Of that 2.5, daily compounding is +0.1 points, which any 2 times fund would show over the same path, and the fund itself is −2.6 points against 2 times each day's move, compounded. XHOA aims to return +2 times XLRE's move each day, then resets. Over longer periods the daily results compound, so the total is not +2 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run.
Questions people ask
- Which came closer to its daily multiple, DRV or XHOA?
- Over the window to Oct 27, 2026, DRV finished 4.5 points from what its multiple implies and XHOA finished 2.5 points from its own, so XHOA came closer. Neither number predicts the next window: it depends on how much the underlying moves about.
- Are DRV and XHOA levered on the same thing?
- Yes. Both are levered on real estate, DRV at -3 times and XHOA at +2 times the daily move.
- Which one decays faster, DRV or XHOA?
- Decay follows how much the underlying moves about. Over this window DRV’s moved at 13% annualized and XHOA’s at 13%, so DRV has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold DRV or XHOA for a year?
- Both reset every day, so the multiple in the name applies to a single day, and daily results compound. Over a year the total is not the multiple times the year’s move; after a fall and recovery it is lower.
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How this is computed
It is a place in a set, not a rating or a recommendation.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, DRV against XHOA, data as of Oct 27, 2026. https://etfiq.com/compare/leverage/drv-vs-xhoa
ETFIQ. (Oct 27, 2026). DRV against XHOA. Retrieved from https://etfiq.com/compare/leverage/drv-vs-xhoa
[DRV against XHOA (ETFIQ, Oct 27, 2026)](https://etfiq.com/compare/leverage/drv-vs-xhoa)
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