AVRE vs. REK

Last updated Jun 24, 2026

AVRE (Avantis Real Estate ETF) and REK (ProShares Short Real Estate) are both REIT funds. AVRE is actively managed, while REK is passively managed. Over the past 3 years, AVRE returned 10.51%/yr vs -5.24%/yr for REK. At a correlation of -0.96, they often move in opposite directions. AVRE charges 0.17%/yr vs 0.95%/yr for REK.

Performance

AVRE vs. REK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Real Estate ETF (AVRE) and ProShares Short Real Estate (REK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVRE achieves a 10.29% return, which is significantly higher than REK's -9.23% return.

AVRE

• 1D: 0.70%
• 1M: 0.44%
• YTD: 10.29%
• 6M: 10.48%
• 1Y: 10.80%
• 3Y*: 10.51%
• 5Y*: —
• 10Y*: —

REK

• 1D: -1.45%
• 1M: -0.67%
• YTD: -9.23%
• 6M: -9.52%
• 1Y: -4.22%
• 3Y*: -5.24%
• 5Y*: -0.65%
• 10Y*: -6.40%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVRE vs. REK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVRE Avantis Real Estate ETF	10.29%	8.34%	0.54%	9.10%	-23.70%	11.45%
REK ProShares Short Real Estate	-9.23%	2.35%	1.42%	-6.61%	29.17%	-12.48%

Correlation

The correlation between AVRE and REK is -0.94, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.94
Correlation (3Y) Calculated over the trailing 3-year period	-0.95
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	-0.96

The correlation between AVRE and REK has been stable across timeframes, ranging from -0.96 to -0.94 - a consistent structural relationship.

Return for Risk

AVRE vs. REK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVRE

AVRE Risk / Return Rank: 26
AVRE Sharpe Ratio Rank: 26
AVRE Sortino Ratio Rank: 24
AVRE Omega Ratio Rank: 24
AVRE Calmar Ratio Rank: 25
AVRE Martin Ratio Rank: 31

REK

REK Risk / Return Rank: 6
REK Sharpe Ratio Rank: 6
REK Sortino Ratio Rank: 6
REK Omega Ratio Rank: 6
REK Calmar Ratio Rank: 6
REK Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVRE vs. REK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Real Estate ETF (AVRE) and ProShares Short Real Estate (REK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVRE	REK	Difference
Sharpe ratio: Return per unit of total volatility	0.89	-0.30	+1.19
Sortino ratio: Return per unit of downside risk	1.27	-0.35	+1.63
Omega ratio: Gain probability vs. loss probability	1.16	0.96	+0.20
Calmar ratio: Return relative to maximum drawdown	1.16	-0.38	+1.54
Martin ratio: Return relative to average drawdown	4.18	-0.86	+5.04

AVRE vs. REK - Sharpe Ratio Comparison

The current AVRE Sharpe Ratio is 0.89, which is higher than the REK Sharpe Ratio of -0.30. The chart below compares the historical Sharpe Ratios of AVRE and REK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVRE vs. REK - Drawdown Comparison

The maximum AVRE drawdown since its inception was -32.52%, smaller than the maximum REK drawdown of -84.57%. Use the drawdown chart below to compare losses from any high point for AVRE and REK.

Drawdown Indicators

	AVRE	REK	Difference
Max Drawdown Largest peak-to-trough decline	-32.52%	-84.57%	+52.05%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-11.05%	+1.67%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-26.93%	+9.59%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-58.67%	—
Current Drawdown Current decline from peak	-0.83%	-82.46%	+81.63%
Average Drawdown Average peak-to-trough decline	-14.61%	-64.12%	+49.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	4.94%	-2.35%

Volatility

AVRE vs. REK - Volatility Comparison

The current volatility for Avantis Real Estate ETF (AVRE) is 4.15%, while ProShares Short Real Estate (REK) has a volatility of 5.22%. This indicates that AVRE experiences smaller price fluctuations and is considered to be less risky than REK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVRE	REK	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	5.22%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	9.56%	10.60%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	14.14%	-1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	18.92%	-2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	20.35%	-3.75%

AVRE vs. REK - Expense Ratio Comparison

AVRE has a 0.17% expense ratio, which is lower than REK's 0.95% expense ratio.

Dividends

AVRE vs. REK - Dividend Comparison

AVRE's dividend yield for the trailing twelve months is around 4.26%, more than REK's 3.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AVRE Avantis Real Estate ETF	4.26%	4.30%	3.99%	3.33%	3.78%	0.61%	0.00%	0.00%	0.00%
REK ProShares Short Real Estate	3.36%	3.43%	6.22%	4.50%	0.48%	0.00%	0.07%	1.28%	0.43%

Frequently Asked Questions

Can I hold both AVRE and REK in my portfolio?

AVRE and REK have a correlation of -0.94, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVRE or REK?

REK has higher volatility (5.22%) compared to AVRE (4.15%). In terms of maximum drawdown, AVRE dropped -32.52% vs REK's -84.57%.

Which ETF is better, AVRE or REK?

On 3-year performance, AVRE leads with 10.51% vs -5.24% for REK. On fees, AVRE is cheaper at 0.17% per year. On volatility, AVRE has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVRE or REK?

Over the 3-year period, AVRE has performed better with a 10.51% return vs -5.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVRE or REK?

AVRE is cheaper with a 0.17% expense ratio, compared with 0.95% for REK.

Which ETF pays a higher dividend yield, AVRE or REK?

AVRE has the higher dividend yield at 4.26%, compared with 3.36% for REK.

What is the main difference between AVRE and REK?

They also come from different issuers: Avantis and ProShares. Their fees differ too: 0.17% for AVRE and 0.95% for REK.

Which has better risk-adjusted returns?

AVRE currently has the higher Sharpe Ratio (0.89 vs -0.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.