REK vs. CDL
REK (ProShares Short Real Estate) and CDL (VictoryShares US Large Cap High Dividend Volatility Wtd ETF) are both exchange-traded funds - REK is a REIT fund tracking the DJ Global United States (All) / Real Estate -SS (-100%), while CDL is a Large Cap Value Equities fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index. Both are passively managed. Over the past 10 years, REK returned -6.46%/yr vs 11.32%/yr for CDL. At a correlation of -0.64, they often move in opposite directions. REK charges 0.95%/yr vs 0.35%/yr for CDL.
Performance
REK vs. CDL - Performance Comparison
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Returns By Period
In the year-to-date period, REK achieves a -9.73% return, which is significantly lower than CDL's 13.91% return. Over the past 10 years, REK has underperformed CDL with an annualized return of -6.46%, while CDL has yielded a comparatively higher 11.32% annualized return.
REK
- 1D
- -0.55%
- 1M
- -1.21%
- YTD
- -9.73%
- 6M
- -9.36%
- 1Y
- -4.46%
- 3Y*
- -5.42%
- 5Y*
- -0.55%
- 10Y*
- -6.46%
CDL
- 1D
- 0.10%
- 1M
- 0.90%
- YTD
- 13.91%
- 6M
- 13.24%
- 1Y
- 20.72%
- 3Y*
- 15.84%
- 5Y*
- 9.98%
- 10Y*
- 11.32%
REK vs. CDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | -9.73% | 2.35% | 1.42% | -6.61% | 29.17% | -30.58% | -11.33% | -20.96% | 4.61% | -9.34% |
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 13.91% | 9.04% | 15.58% | 3.03% | -0.45% | 33.42% | -3.35% | 26.38% | -5.86% | 16.29% |
Correlation
The correlation between REK and CDL is -0.72, 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 | -0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.65 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2015 | -0.64 |
The correlation between REK and CDL has been stable across timeframes, ranging from -0.72 to -0.64 - a consistent structural relationship.
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Return for Risk
REK vs. CDL — Risk / Return Rank
REK
CDL
REK vs. CDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL). 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.
| REK | CDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.41 | ||
| Sortino ratioReturn per unit of downside risk | -3.44 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.36 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 3.68 | -4.08 |
| Martin ratioReturn relative to average drawdown | -0.90 | 12.99 | -13.89 |
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Drawdowns
REK vs. CDL - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, which is greater than CDL's maximum drawdown of -41.03%. Use the drawdown chart below to compare losses from any high point for REK and CDL.
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Drawdown Indicators
| REK | CDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -41.03% | -43.54% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -5.66% | -5.39% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -12.87% | -14.06% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -17.28% | -9.65% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | -41.03% | -17.64% |
Current DrawdownCurrent decline from peak | -82.56% | -0.40% | -82.16% |
Average DrawdownAverage peak-to-trough decline | -64.12% | -4.33% | -59.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.98% | 1.60% | +3.38% |
Volatility
REK vs. CDL - Volatility Comparison
ProShares Short Real Estate (REK) has a higher volatility of 5.24% compared to VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) at 3.35%. This indicates that REK's price experiences larger fluctuations and is considered to be riskier than CDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REK | CDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 3.35% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 7.11% | +3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 9.96% | +4.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 13.85% | +5.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 17.04% | +3.31% |
REK vs. CDL - Expense Ratio Comparison
REK has a 0.95% expense ratio, which is higher than CDL's 0.35% expense ratio.
Dividends
REK vs. CDL - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.38%, more than CDL's 3.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 3.13% | 3.33% | 3.27% | 3.61% | 3.31% | 2.60% | 3.32% | 3.04% | 3.32% | 2.87% | 2.97% | 1.28% |
REK ProShares Short Real Estate | 3.38% | 3.43% | 6.22% | 4.50% | 0.48% | 0.00% | 0.07% | 1.28% | 0.43% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
REK and CDL have a correlation of -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REK has higher volatility (5.24%) compared to CDL (3.35%). In terms of maximum drawdown, REK dropped -84.57% vs CDL's -41.03%.
On 10-year performance, CDL leads with 11.32% vs -6.46% for REK. On fees, CDL is cheaper at 0.35% per year. On volatility, CDL has been the lower-risk option at 3.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CDL has performed better with a 11.32% return vs -6.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDL is cheaper with a 0.35% expense ratio, compared with 0.95% for REK.
REK has the higher dividend yield at 3.38%, compared with 3.13% for CDL.
REK is categorized as REIT, while CDL is Large Cap Value Equities. REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while CDL tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index. They also come from different issuers: ProShares and Crestview. Their fees differ too: 0.95% for REK and 0.35% for CDL.
CDL currently has the higher Sharpe Ratio (2.09 vs -0.32), 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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