DESK vs. REK
DESK (Vaneck Office And Commercial REIT ETF) and REK (ProShares Short Real Estate) are both REIT funds - DESK tracks the MarketVector US Listed Office And Commercial REITS Index - Benchmark TR Gross while REK tracks the DJ Global United States (All) / Real Estate -SS (-100%). Both are passively managed. Over the past year, DESK returned 16.02% vs -6.99% for REK. Their -0.69 correlation means they have often moved in opposite directions in the past. DESK charges 0.50%/yr vs 0.95%/yr for REK.
Performance
DESK vs. REK - Performance Comparison
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Returns By Period
In the year-to-date period, DESK achieves a 18.44% return, which is significantly higher than REK's -9.66% return.
DESK
- 1D
- -1.35%
- 1M
- -1.15%
- 6M
- 18.50%
- YTD
- 18.44%
- 1Y
- 16.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.29%
REK
- 1D
- 0.52%
- 1M
- -0.32%
- 6M
- -7.57%
- YTD
- -9.66%
- 1Y
- -6.99%
- 3Y*
- -3.68%
- 5Y*
- 0.17%
- 10Y*
- -5.78%
- ALL TIME*
- -9.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.35M | $1.56M | $562.16K | |
| $70.29K | $233.75K | $176.01K |
DESK vs. REK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DESK Vaneck Office And Commercial REIT ETF | 18.44% | -10.42% | 16.01% | 13.17% |
REK ProShares Short Real Estate | -9.66% | 2.35% | 1.42% | -10.15% |
Correlation
The correlation between DESK and REK is -0.60, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.60 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023 | -0.69 |
The correlation between DESK and REK has been stable across timeframes, ranging from -0.69 to -0.60 - a consistent structural relationship.
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Return for Risk
DESK vs. REK — Risk / Return Rank
DESK
REK
DESK vs. REK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vaneck Office And Commercial REIT ETF (DESK) 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.
| DESK | REK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 0.93 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | -0.53 | +1.11 |
| Martin ratioReturn relative to average drawdown | 1.23 | -1.12 | +2.35 |
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Drawdowns
DESK vs. REK - Drawdown Comparison
The maximum DESK drawdown since its inception was -28.65%, smaller than the maximum REK drawdown of -84.57%. Use the drawdown chart below to compare losses from any high point for DESK and REK.
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Drawdown Indicators
| DESK | REK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.65% | -84.57% | +55.92% |
Max Drawdown (1Y)Largest decline over 1 year | -25.09% | -12.66% | -12.43% |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.93% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -58.67% | — |
Current DrawdownCurrent decline from peak | -3.05% | -82.54% | +79.49% |
Average DrawdownAverage peak-to-trough decline | -11.00% | -64.24% | +53.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.78% | 6.02% | +5.76% |
Volatility
DESK vs. REK - Volatility Comparison
Vaneck Office And Commercial REIT ETF (DESK) has a higher volatility of 6.00% compared to ProShares Short Real Estate (REK) at 4.68%. This indicates that DESK's price experiences larger fluctuations and is considered to be riskier than REK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DESK | REK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 4.68% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 15.86% | 11.19% | +4.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.51% | 14.27% | +6.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.68% | 18.96% | +6.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.68% | 20.37% | +5.31% |
DESK vs. REK - Expense Ratio Comparison
DESK has a 0.50% expense ratio, which is lower than REK's 0.95% expense ratio.
Dividends
DESK vs. REK - Dividend Comparison
DESK's dividend yield for the trailing twelve months is around 4.67%, more than REK's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DESK Vaneck Office And Commercial REIT ETF | 4.67% | 5.15% | 3.78% | 1.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
REK ProShares Short Real Estate | 3.28% | 3.43% | 6.22% | 4.50% | 0.48% | 0.00% | 0.07% | 1.28% | 0.43% |
Frequently Asked Questions
DESK and REK have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DESK has higher volatility (6.00%) compared to REK (4.68%). In terms of maximum drawdown, DESK dropped -28.65% vs REK's -84.57%.
On 1-year performance, DESK leads with 16.02% vs -6.99% for REK. On fees, DESK is cheaper at 0.50% per year. On volatility, REK has been the lower-risk option at 4.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DESK has performed better with a 16.02% return vs -6.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DESK is cheaper with a 0.50% expense ratio, compared with 0.95% for REK.
DESK has the higher dividend yield at 4.67%, compared with 3.28% for REK.
DESK tracks MarketVector US Listed Office And Commercial REITS Index - Benchmark TR Gross, while REK tracks DJ Global United States (All) / Real Estate -SS (-100%). They also come from different issuers: VanEck and ProShares. Their fees differ too: 0.50% for DESK and 0.95% for REK.
DESK currently has the higher Sharpe Ratio (0.71 vs -0.48), 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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