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Launched · SEC filings

Direxion Daily Real Estate Bear 3X ETF

DRVNYSE ArcaDirexionDThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$19.17−0.70 (−3.52%)

At close: Nov 2, 2026, 4:00 PM ET

D39/ 100

Rank 10 of 14 in 3x Leveraged Inverse

D39/100Rank 10 of 14in3x Leveraged Inverse
Intraday session: down, 79 prints from 19.87 to 19.17. Range 19.13 to 19.90. Use the arrow keys to read each point.19.4019.6010 AM12 PM2 PM4 PM
Expense ratio
1.06%*
Fund size
$28M
1Y total return
−21.1%
Yield · Last 12 months
3.34%
Holdings
3
Avg volume · 30D
134K sh
52W range
low $16.26high $28.13
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 1, 2027. Without it: 1.07%.

The ETF.net DRV Grade

Based on 4 of 6 pillars

D

Score 39 out of 100

Category
3x Leveraged Inverse⁠
Rank
10 of 14
Six-pillar profile for DRV. Scores out of 100: Cost 23, Risk 85, Mission not scored, Tradability 25, Holdings not scored, Durability 40. Strongest: Risk (85). Weakest: Cost (23). Based on 4 of 6 pillars.

Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F23 out of 100
    Rank 10 of 14

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A85 out of 100
    Rank 1 of 14

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D25 out of 100
    Rank 12 of 14

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C40 out of 100
    Rank 10 of 14

Our read on DRV

ETF.net Research

In short

DA one-day bet against landlords: DRV aims for -3x the daily move of the Real Estate Select Sector Index, at 1.06% net of a waiver through September 1, 2027. The sector specialist on a bear shelf built mostly of broad-index trades.

Stated mandate

The fund seeks daily investment results of -300% of the Real Estate Select Sector Index before fees and expenses. Its objective is measured for a single day rather than over longer cumulative periods.

Why people hold it

  • Targets -3x the daily move of a large-cap US real estate index, a sector-specific trade on a shelf dominated by broad-market bears.direxion.com
  • Fee is 1.06% net of a waiver through September 1, 2027, near the median of its 14-fund category. SQQQ runs 0.94%, Direxion sibling TZA 0.99%.
  • Trading since July 2009, one of Direxion's original 3x pairs, with a record spanning a property crash, a zero-rate decade and the rate reset after it.sec.gov

Worth knowing

  • Built for a single day. Hold longer and the result comes from each day's compounding, which the prospectus says will likely differ from -3x the index.sec.gov
  • The yardstick changed: the MSCI US REIT Index at launch, the Real Estate Select Sector Index now, so the long record spans two different benchmarks.sec.govsec.gov 2
  • Costs bite on a short-horizon tool, and Direxion states there is no guarantee the fund achieves its stated objective.direxion.com

DRV Holdings

Asset class
Other
Holdings
3
Top-10 weight
157%
Largest holding
Ixre Swap Asset Leg (Ixrejps)112.3%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataIxre Swap Asset Leg (Ixrejps)112.30%-279,980−$59.2M1
2No dataIxre Swap Asset Leg (Ixreubs)23.86%-59,488−$12.6M1
3No dataIxre Swap Asset Leg (Ixremls)21.07%-52,529−$11.1M1

Showing 1–3 of 3 holdings

DRV Performance

Launched Jul 16, 2009

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DRV$7,886
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. DRV $7,886. SPY $11,199. Use the arrow keys to read each point.$8,000$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DRV. Periods over one year show the average yearly return.
PeriodDRV
Year to date−23.1%
1 month−14.7%
3 months+12.1%
1 year−21.1%
3 yearsper year−30.2%
5 yearsper year−11.0%
10 yearsper year−29.0%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DRV
YearReturn barDRV
2026 YTD−23.1%
2025−7.3%
2024−10.5%
2023−33.7%
2022+68.5%

DRV in the news

DRV Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.34%Last 12 months
Payout per share
$0.66Last 12 months
Last payment
$0.15 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 23 payments from 2017 to 2026 YTD. Jun 19, 2018 $0.10; Sep 25, 2018 $1.55; Dec 27, 2018 $0.65; Mar 19, 2019 $1.89; Sep 24, 2019 $2.24; Dec 23, 2019 $0.33; Mar 24, 2020 $0.60; Dec 20, 2022 $0.21; Mar 21, 2023 $0.43; Jun 21, 2023 $0.58; Sep 19, 2023 $0.41; Dec 21, 2023 $0.42; Mar 19, 2024 $0.37; Jun 25, 2024 $0.41; Sep 24, 2024 $0.30; Dec 23, 2024 $0.26; Mar 25, 2025 $0.28; Jun 24, 2025 $0.20; Sep 23, 2025 $0.19; Dec 23, 2025 $0.10; Mar 24, 2026 $0.25; Jun 23, 2026 $0.16; Sep 22, 2026 $0.15. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Sep 29, 2026$0.15
Jun 23, 2026Jun 30, 2026$0.16
Mar 24, 2026Mar 31, 2026$0.25
Dec 23, 2025Dec 31, 2025$0.10
Sep 23, 2025Sep 30, 2025$0.19
Jun 24, 2025Jul 1, 2025$0.20
Mar 25, 2025Apr 1, 2025$0.28
Dec 23, 2024Dec 31, 2024$0.26
Sep 24, 2024Oct 1, 2024$0.30
Jun 25, 2024Jul 2, 2024$0.41
Mar 19, 2024Mar 26, 2024$0.37
Dec 21, 2023Dec 29, 2023$0.42

See all 24 payments⁠

$10,000 in DRV 10 years ago paid $152 in dividends.⁠

DRV Risk

Risk pillarA85 out of 100Rank 1 of 14 in 3x Leveraged Inverse

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
49.4%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.57
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−76.1%
Trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−2.51
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

DRV Cost

Compare DRV and SQQQ

Overpaying vs SQQQ, cheapest in 3x Leveraged Inverse

$1,951

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DRV 1.06%

    $19,655

  • SQQQ 0.94% Cheapest

    $17,704

$10,000
30 years

Cost over time

  • DRV 1.06%
  • SQQQ 0.94%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DRV $19,655SQQQ $17,704

Year by year

YearDRVSQQQOverpaying
10$1,864$1,661$203
20$6,987$6,260$727
30$19,655$17,704$1,951
How the 1.06% is worked out

Full fee 1.07%− waiver 0.01%= you pay 1.06%

The waiver ends Sep 1, 2027. After that the fee is 1.07% unless Direxion renews it. Source: prospectus, Mar 2026.

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