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 -5.95%/yr vs 11.14%/yr for CDL. At a correlation of -0.65, 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 -10.66% return, which is significantly lower than CDL's 18.31% return. Over the past 10 years, REK has underperformed CDL with an annualized return of -5.95%, while CDL has yielded a comparatively higher 11.14% annualized return.
REK
- 1D
- -1.96%
- 1M
- -1.41%
- 6M
- -7.93%
- YTD
- -10.66%
- 1Y
- -6.85%
- 3Y*
- -3.67%
- 5Y*
- -0.24%
- 10Y*
- -5.95%
CDL
- 1D
- 1.78%
- 1M
- 3.68%
- 6M
- 13.91%
- YTD
- 18.31%
- 1Y
- 23.34%
- 3Y*
- 16.00%
- 5Y*
- 10.85%
- 10Y*
- 11.14%
REK vs. CDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | -10.66% | 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 | 18.31% | 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 -0.74, 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 | -0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.73 |
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 | -0.65 |
The correlation between REK and CDL has been stable across timeframes, ranging from -0.74 to -0.65 - 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 | -2.78 | ||
| Sortino ratioReturn per unit of downside risk | -4.03 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.39 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 4.14 | -4.73 |
| Martin ratioReturn relative to average drawdown | -1.24 | 14.63 | -15.88 |
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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 | -11.67% | -5.66% | -6.01% |
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 | -82.74% | 0.00% | -82.74% |
Average DrawdownAverage peak-to-trough decline | -64.19% | -4.31% | -59.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.52% | 1.60% | +3.92% |
Volatility
REK vs. CDL - Volatility Comparison
ProShares Short Real Estate (REK) has a higher volatility of 5.55% compared to VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) at 4.14%. 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 | 5.55% | 4.14% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 11.28% | 7.63% | +3.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.39% | 10.20% | +4.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.98% | 13.89% | +5.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.36% | 17.03% | +3.33% |
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 3.32%, more than CDL's 3.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 3.03% | 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 | 3.32% | 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 -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REK has higher volatility (5.55%) compared to CDL (4.14%). In terms of maximum drawdown, REK dropped -84.57% vs CDL's -41.03%.
On 10-year performance, CDL leads with 11.14% vs -5.95% for REK. On fees, CDL is cheaper at 0.35% per year. On volatility, CDL has been the lower-risk option at 4.14%. 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 11.14% return vs -5.95%. 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 3.32%, compared with 3.03% 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 (2.30 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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