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DRV vs SQQQ

Direxion Daily Real Estate Bear 3X ETF

DRVDNYSE Arca

ProShares UltraPro Short QQQ

SQQQANasdaq

Overlap

Expense ratio

SQQQ −0.12pt a year

DRV1.06%SQQQ0.94%

Avg volume · 30D

SQQQ 373.7×the volume

DRV134KSQQQ50M

10Y return · a year

DRV +25.3pt

DRV−29.0%SQQQ−54.3%

DRV vs SQQQ Performance

Oct 29, 2021 – Oct 30, 2026

−44.1%DRV−93.7%SQQQ

Oct 29, 2021 to Oct 30, 2026. DRV −44.1%. SQQQ −93.7%. Use the arrow keys to read each point.0%50%100%Oct 2021Apr 2024Oct 2026
Expense ratio
DRV 1.06%
SQQQ 0.94%, better
Fund size
DRV $28M
SQQQ $2.04B
1Y total return
DRV −21.1%, better
SQQQ −32.5%
Yield (12M)
DRV 3.34%
SQQQ 7.78%, better
Holdings
DRV 3
SQQQ 12
Avg volume (30D)
DRV 134K sh
SQQQ 50M sh, better
NAV per share
DRV $19.97
SQQQ $41.85
52W range

ETF.net Grade

DRV: Cost 23, Risk 85, Mission not scored, Tradability 25, Holdings not scored, Durability 40. SQQQ: Cost 99, Risk 47, Mission 95, Tradability 92, Holdings 47, Durability 73.
Pillar letters and Scores for DRV, SQQQ, with each pillar’s weight
PillarDRVSQQQ
Cost30% weightF23A99Higher
Mission25% weightNot scoredA95
Risk15% weightA85HigherC47
Tradability15% weightD25A92Higher
Holdings10% weightNot scoredC47
Durability5% weightC40A73Higher

Rank among 3x Leveraged Inverse funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DRV and SQQQ are both graded against the same 14 3x Leveraged Inverse funds, so their Grades compare head to head.

3x Leveraged Inverse⁠

Category · 14 funds
See all 14 ›

SQQQ ranks 1st and DRV 10th of 14 funds in the 3x Leveraged Inverse Category.

  1. Rank 1ASQQQProShares UltraPro Short QQQScore 83
  2. Rank 2ASDOWProShares UltraPro Short Dow30Score 78
  3. Rank 9CSMDDProShares UltraPro Short MidCap400Score 40
  4. Rank 10DDRVDirexion Daily Real Estate Bear 3X ETFScore 39
  5. Rank 11DEDZDirexion Daily MSCI Emerging Markets Bear 3X ETFScore 31

Our read on each fund

ETF.net Research

DRVDDirexion Daily Real Estate Bear 3X ETF

SQQQAProShares UltraPro Short QQQ

In short

DRV A 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.

SQQQ The workhorse of the short-Nasdaq trade. Running since 2010, it aims at three times the inverse of the Nasdaq-100's daily move, resets every session, and charges 0.94% a year, below the going rate in the 3x bear category.

Stated mandate

DRV 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.

SQQQ The fund seeks daily investment results, before fees and expenses, equal to three times the inverse of the Nasdaq-100 Index’s daily performance.

Why people hold it

  • DRV 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
  • SQQQ 0.94% a year with no waiver propping it up, and below what 3x bear peers charge: SDOW and SRTY each sit at 0.95% net of waivers through September 30, 2027.
  • One of the most actively traded funds in its category, with a billion-dollar-plus asset base behind it. Depth is the reason traders reach for this one.
  • ProShares has run this single-day mandate since February 2010, and it tracks its stated -3x daily target about as closely as anything in its peer group.proshares.com
  • The mandate is blunt and public: three times the inverse of the Nasdaq-100's daily performance, before fees, measured NAV to NAV. No discretion, no stock picking.sec.gov

Worth knowing

  • DRV 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
  • SQQQ Returns compound daily. Over any period longer than a single day, results will very likely differ from -3x the index, and the fund can lose money when the index is flat.sec.gov
  • It holds swaps and futures on the index, not shorted stocks, so counterparty exposure and financing costs ride along with the price.sec.gov
  • At 0.94%, the fee is heavy freight for a vehicle built around single-day results. Distributions, when declared, come quarterly.

Full DRV profile⁠

Full SQQQ profile⁠

DRV vs SQQQ Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DRV vs SQQQ Cost

Overpaying DRV vs SQQQ

$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%

    $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

Expense ratio

  • 1.06%DRV
  • 0.94%SQQQ, cheaper
  • Middle half of 3x Leveraged Inverse funds
  • Median 1.02%

SQQQ cheapest of 14 funds

DRV 11th cheapest of 14 funds

DRV vs SQQQ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DRV 3.34%
SQQQ 7.78%, better
Payout (12M)
DRV $0.66
SQQQ $3.25
Last payment
DRV $0.15
SQQQ $0.47
Ex-dividend
DRV Sep 22, 2026
SQQQ Sep 23, 2026
Paid on
DRV Sep 29, 2026
SQQQ Sep 29, 2026
Frequency
DRV Quarterly
SQQQ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DRVQuarterly · 23 paymentsAll DRV payments⁠
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.$0$2502017202020232026YTD
SQQQQuarterly · 26 paymentsAll SQQQ payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $15.09; Mar 21, 2018 $17.68; Jun 20, 2018 $20.64; Sep 26, 2018 $33.37; Dec 26, 2018 $257.26; Mar 20, 2019 $72.88; Jun 25, 2019 $152.59; Sep 25, 2019 $115.46; Dec 24, 2019 $67.50; Mar 25, 2020 $40.77; Dec 22, 2022 $3.78; Mar 22, 2023 $5.11; Jun 21, 2023 $6.66; Sep 20, 2023 $8.10; Dec 20, 2023 $7.07; Mar 20, 2024 $4.10; Jun 26, 2024 $4.01; Sep 25, 2024 $3.74; Dec 23, 2024 $4.08; Mar 26, 2025 $2.41; Jun 25, 2025 $1.28; Sep 24, 2025 $1.21; Dec 24, 2025 $1.51; Mar 25, 2026 $0.64; Jun 24, 2026 $0.64; Sep 23, 2026 $0.47. Use the arrow keys to read each point.$0$2502017202020232026YTD

DRV vs SQQQ Risk

Fall from peak · 5 years

  • DRV
  • SQQQ
Oct 29, 2021 to Oct 30, 2026. Worst fall: SQQQ −97.5% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
DRV 49.4%SQQQ 48.2%, better
Return per unit of riskSharpe ratio, 3 years
DRV −0.57, betterSQQQ −1.42
Worst fallMax drawdown, 5 years
DRV −76.1%, betterSQQQ −97.5%
Market sensitivityBeta, 5 years
DRV −2.51SQQQ −3.43

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