We have studied the performance of ballistic channel diodes with strained channel or drain, based on Monte Carlo simulation. A larger increase in drain current and mean velocity of electrons in the drain region is observed for strained drain diode compared to strained channel diode. This is due to reduction of intervalley scattering and electrons transported with smaller transverse effective mass in the strained drain. This also results in lower heat generation and parasitic resistances in strained drain. We conclude that the strained drain is an efficient way to improve electrical characteristics of devices with ballistic channel.