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DRV

GradeCNew York Stock Exchange Arca

Direxion Daily Real Estate Bear 3X ETF

Leveraged · Leveraged & Inverse · Direxion · Inception 2009-07-16 · SEC filings

This 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.

$21.60+0.86 (+4.15%)

As of Sep 23, 2026, 3:05 PM EDT

Intraday session: up, 68 prints from 20.74 to 21.60. Range 20.95 to 21.60. Use the arrow keys to read each point.$21.00$21.20$21.4010 AM12 PM2 PM4 PM
Expense ratio
1.07%
Fund size
$29M
1Y return
−13.4%
Yield · Last 12 months
3.38%
Holdings
6
Volume · 30D
0.1M sh
NAV per share
$20.78
52W range
low $16.26high $27.75

The ETF.net DRV Grade

C

50/ 100

Rank 8 of 14 in 3x Leveraged Inverse⁠

Confidence Medium

Six-pillar profile for DRV. Scores out of 100: Cost 42, Risk 85, Mission not scored, Tradability 34, Holdings not scored, Durability 40. Strongest: Risk (85). Weakest: Tradability (34). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 50 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 42
    Category rank8/14 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 85
    Category rank1/14 · top 7%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 34
    Category rank10/14 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 40
    Category rank10/14 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on DRV

ETF.net Research

CTrading since 2009, DRV aims for -300% of the Real Estate Select Sector Index's daily move. A one-session instrument on REITs and property stocks: the exposure resets at every close, so it is built for days, not quarters.

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

  1. 01Costs 1.07% a year, under the 1.21% median for leveraged and inverse funds. Cheap is relative here, but the gap is real.
  2. 02Scalpel, not a shotgun: -3x aimed at one sector, US real estate, instead of the whole market. Rare precision in the geared-bear aisle.
  3. 03Launched in 2009 and still running through multiple rate cycles, it ranks in the upper half of its leveraged-bear peer group.

Worth knowing

  1. 01The -3x target applies to a single day. Hold longer and compounding takes over, so multi-day results can differ substantially from -3x the index move over that stretch.
  2. 02A small fund that trades moderately, not heavily. Spreads can widen when you least want them to.
  3. 03Everything rides on one rate-sensitive sector. No diversification cushion when property stocks move against the position.

DRV Holdings

As of Sep 22, 2026, 10:02 PM
Asset class
Other
Holdings
6
Top-10 weight
155%
Largest holding
IXRE SWAP ASSET LEG (IXREJPS)105.3%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—IXRE SWAP ASSET LEG (IXREJPS)105.28%-279,980$-59M1
002—IXRE SWAP ASSET LEG (IXREMLS)31.37%-83,421$-18M1
003—IXRE SWAP ASSET LEG (IXREUBS)18.12%-48,203$-10M1

Showing 1–3 of 3 holdings

DRV Performance

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

DRV$8,664
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. DRV $8,664. SPY $11,723. Use the arrow keys to read each point.$6,625$9,383$12,142Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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−20.3%
1 month+15.8%
3 months+8.1%
1 year−13.4%
3 years−26.5%per year
5 years−12.1%per year
10 years−27.2%per year

As of the close, 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−20.3%
2025−7.3%
2024−10.5%
2023−33.7%
2022+68.5%
2021−68.8%
2020−60.5%

DRV in the news

ETF.net Research hasn’t filed on DRV yet — coverage lands here as it’s written.

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 Sep 22, 2026.
3.38%Last 12 months
Payout per share
$0.70Last 12 months
Last payment
$0.16 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. 22 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. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
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
Sep 19, 2023Sep 26, 2023$0.41

DRV Risk

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.
49.5%
Annualised · 36 months to Aug 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.
−0.40
vs 3-month T-bills · to Aug 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.
−2.56
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.

DRV Cost

Expense ratio1.07%
  • The middle half of 3x Leveraged Inverse funds
  • Median 1.05%

7 of the 14 3x Leveraged Inverse funds charge less.

DRV costs $107.00 a year on $10,000. The median 3x Leveraged Inverse fund costs $105.00.