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

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: DRN returned −21.6% where its own daily promise gave −20.0%, 1.6 points short.

## Key facts

- DRN, what IYR did: −6.8%, as of Sep 30, 2026.
- DRN, what 3 times a day gives: −20.0%, as of Sep 30, 2026.
- DRN, what the fund returned: −21.6%, as of Sep 30, 2026.
- DRN, the fund itself cost: −1.6 pts, as of Sep 30, 2026.
- DRN, net assets: $35m (issuer page, as of Sep 30, 2026).
- DRN, expense ratio: 0.98% (485BPOS XBRL, Feb 26, 2026).

## DRN over each window to Sep 30, 2026

| Window | Fund | IYR | +3x the move | Difference | IYR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −19.3% | −6.7% | −20.1% | +0.8 pts | 10% |
| 3 months | −21.6% | −6.8% | −20.3% | −1.3 pts | 13% |
| 6 months | −3.1% | +1.4% | +4.2% | −7.4 pts | 14% |
| 1 year | −13.2% | +0.3% | +0.9% | −14.1 pts | 14% |
| 3 years | +30.1% | +30.9% | +92.7% | −62.5 pts | 17% |
| Since launch | +165.2% | +259.8% | 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 | +3.19 times, against +3 stated | ETFIQ |
| Underlying | IYR | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $35m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.98% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 13% annualized | ETFIQ |

## Questions

### Did DRN return +3 times IYR?

Over the window to Sep 30, 2026, IYR moved −6.8% and DRN returned −21.6%. 3 times that move is −20.3%, so the fund came out 1.3 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 30, 2026. https://etfiq.com/funds/drn
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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