# DRN (Direxion Daily Real Estate Bull 3X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: DRN returned −13.5% where its own daily promise gave −10.1%, 3.4 points short.

## Key facts

- DRN, what IYR did: −3.0%, as of Sep 11, 2026.
- DRN, what +3 times a day gives: −10.1%, as of Sep 11, 2026.
- DRN, what the fund returned: −13.5%, as of Sep 11, 2026.
- DRN, the fund itself cost: −3.4 pts, as of Sep 11, 2026.
- DRN, net assets: $47m (source, as filed for Apr 30, 2026).
- DRN, expense ratio: 0.98% (485BPOS XBRL, Feb 26, 2026).

## DRN over each window to Sep 11, 2026

| Window | Fund | IYR | +3x the move | Difference | IYR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −8.4% | −2.7% | −8.0% | −0.4 pts | 11% |
| 3 months | −13.5% | −3.0% | −9.0% | −4.6 pts | 14% |
| 6 months | +4.3% | +4.1% | +12.4% | −8.1 pts | 15% |
| 1 year | +0.3% | +4.7% | +14.2% | −13.9 pts | 14% |
| 3 years | +23.9% | +29.0% | +87.1% | −63.2 pts | 17% |
| Since launch | +210.4% | +278.6% | not meaningful over this window | not meaningful over this window | 20% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of IYR, reset daily | ETFIQ |
| Multiple a holder actually got over the window | IYR moved −3.0% over this window, too little to read a multiple from | ETFIQ |
| Underlying | IYR | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $47m | source, as filed for Apr 30, 2026 |
| Expense ratio | 0.98% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 14% annualized | ETFIQ |

## Questions

### Did DRN return +3 times IYR?

Over the window to Sep 11, 2026, IYR moved −3.0% and DRN returned −13.5%. 3 times that move is −9.0%, so the fund came out 4.6 points short of it.

### Why does DRN not return +3 times over a year?

Because it resets daily. DRN aims at +3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, DRN, data as of Sep 11, 2026. https://etfiq.com/funds/DRN
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/DRN  ·  JSON: https://etfiq.com/funds/DRN.json