BBRE vs. SRS
BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) and SRS (ProShares UltraShort Real Estate) are both REIT funds - BBRE tracks the MSCI US REIT Index while SRS tracks the Dow Jones U.S. Real Estate Index (-200%). Both are passively managed. Over the past 5 years, BBRE returned 5.13%/yr vs -6.69%/yr for SRS. At a correlation of -0.95, they often move in opposite directions. BBRE charges 0.11%/yr vs 0.95%/yr for SRS.
Performance
BBRE vs. SRS - Performance Comparison
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Returns By Period
In the year-to-date period, BBRE achieves a 17.09% return, which is significantly higher than SRS's -19.64% return.
BBRE
- 1D
- 0.17%
- 1M
- 2.09%
- YTD
- 17.09%
- 6M
- 16.78%
- 1Y
- 17.71%
- 3Y*
- 13.72%
- 5Y*
- 5.13%
- 10Y*
- —
SRS
- 1D
- -0.10%
- 1M
- -1.96%
- YTD
- -19.64%
- 6M
- -19.15%
- 1Y
- -11.91%
- 3Y*
- -15.72%
- 5Y*
- -6.69%
- 10Y*
- -16.94%
BBRE vs. SRS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 17.09% | 2.09% | 8.24% | 13.85% | -24.68% | 42.99% | -7.55% | 26.06% | -2.41% |
SRS ProShares UltraShort Real Estate | -19.64% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 4.05% |
Correlation
The correlation between BBRE and SRS is -0.93, 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 | -0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.97 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018 | -0.95 |
The correlation between BBRE and SRS has been stable across timeframes, ranging from -0.97 to -0.93 - a consistent structural relationship.
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Return for Risk
BBRE vs. SRS — Risk / Return Rank
BBRE
SRS
BBRE vs. SRS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) and ProShares UltraShort Real Estate (SRS). 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.
| BBRE | SRS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.95 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | -0.54 | +2.74 |
| Martin ratioReturn relative to average drawdown | 7.01 | -1.17 | +8.17 |
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Drawdowns
BBRE vs. SRS - Drawdown Comparison
The maximum BBRE drawdown since its inception was -43.61%, smaller than the maximum SRS drawdown of -99.96%. Use the drawdown chart below to compare losses from any high point for BBRE and SRS.
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Drawdown Indicators
| BBRE | SRS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.61% | -99.96% | +56.35% |
Max Drawdown (1Y)Largest decline over 1 year | -8.07% | -22.21% | +14.14% |
Max Drawdown (3Y)Largest decline over 3 years | -18.92% | -52.58% | +33.66% |
Max Drawdown (5Y)Largest decline over 5 years | -31.15% | -52.58% | +21.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.12% | — |
Current DrawdownCurrent decline from peak | -0.10% | -99.96% | +99.86% |
Average DrawdownAverage peak-to-trough decline | -10.45% | -91.23% | +80.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 10.23% | -7.66% |
Volatility
BBRE vs. SRS - Volatility Comparison
The current volatility for JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) is 5.32%, while ProShares UltraShort Real Estate (SRS) has a volatility of 10.69%. This indicates that BBRE experiences smaller price fluctuations and is considered to be less risky than SRS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBRE | SRS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 10.69% | -5.37% |
Volatility (6M)Calculated over the trailing 6-month period | 10.27% | 21.28% | -11.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.97% | 28.37% | -14.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.82% | 37.73% | -18.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.54% | 40.77% | -18.23% |
BBRE vs. SRS - Expense Ratio Comparison
BBRE has a 0.11% expense ratio, which is lower than SRS's 0.95% expense ratio.
Dividends
BBRE vs. SRS - Dividend Comparison
BBRE's dividend yield for the trailing twelve months is around 2.65%, less than SRS's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 2.65% | 3.24% | 3.19% | 3.68% | 2.62% | 1.70% | 3.17% | 2.19% | 1.96% |
SRS ProShares UltraShort Real Estate | 3.92% | 3.61% | 6.06% | 4.49% | 0.30% | 0.00% | 0.19% | 1.80% | 0.47% |
Frequently Asked Questions
BBRE and SRS have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRS has higher volatility (10.69%) compared to BBRE (5.32%). In terms of maximum drawdown, BBRE dropped -43.61% vs SRS's -99.96%.
On 5-year performance, BBRE leads with 5.13% vs -6.69% for SRS. On fees, BBRE is cheaper at 0.11% per year. On volatility, BBRE has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBRE has performed better with a 5.13% return vs -6.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBRE is cheaper with a 0.11% expense ratio, compared with 0.95% for SRS.
SRS has the higher dividend yield at 3.92%, compared with 2.65% for BBRE.
BBRE tracks MSCI US REIT Index, while SRS tracks Dow Jones U.S. Real Estate Index (-200%). They also come from different issuers: JPMorgan and ProShares. Their fees differ too: 0.11% for BBRE and 0.95% for SRS.
BBRE currently has the higher Sharpe Ratio (1.27 vs -0.42), 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.
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