REK vs. GQRE
REK (ProShares Short Real Estate) and GQRE (FlexShares Global Quality Real Estate Index Fund) are both REIT funds - REK tracks the DJ Global United States (All) / Real Estate -SS (-100%) while GQRE tracks the Northern Trust Global Quality Real Estate (NR). Both are passively managed. Over the past 10 years, REK returned -6.46%/yr vs 4.14%/yr for GQRE. At a correlation of -0.87, they often move in opposite directions. REK charges 0.95%/yr vs 0.45%/yr for GQRE.
Performance
REK vs. GQRE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, REK achieves a -9.73% return, which is significantly lower than GQRE's 9.74% return. Over the past 10 years, REK has underperformed GQRE with an annualized return of -6.46%, while GQRE has yielded a comparatively higher 4.14% 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%
GQRE
- 1D
- 0.38%
- 1M
- 0.22%
- YTD
- 9.74%
- 6M
- 9.63%
- 1Y
- 11.61%
- 3Y*
- 12.08%
- 5Y*
- 2.31%
- 10Y*
- 4.14%
REK vs. GQRE - 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% |
GQRE FlexShares Global Quality Real Estate Index Fund | 9.74% | 8.27% | 6.09% | 9.21% | -27.22% | 32.01% | -9.17% | 21.84% | -8.88% | 13.60% |
Correlation
The correlation between REK and GQRE is -0.90, 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 | -0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.90 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013 | -0.87 |
The correlation between REK and GQRE has been stable across timeframes, ranging from -0.93 to -0.87 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
REK vs. GQRE — Risk / Return Rank
REK
GQRE
REK vs. GQRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and FlexShares Global Quality Real Estate Index Fund (GQRE). 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 | GQRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.18 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 1.15 | -1.55 |
| Martin ratioReturn relative to average drawdown | -0.90 | 4.32 | -5.22 |
Loading charts...
Drawdowns
REK vs. GQRE - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, which is greater than GQRE's maximum drawdown of -41.87%. Use the drawdown chart below to compare losses from any high point for REK and GQRE.
Loading charts...
Drawdown Indicators
| REK | GQRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -41.87% | -42.70% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -10.15% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -16.17% | -10.76% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -35.08% | +8.15% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | -41.87% | -16.80% |
Current DrawdownCurrent decline from peak | -82.56% | -1.27% | -81.29% |
Average DrawdownAverage peak-to-trough decline | -64.12% | -9.20% | -54.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.98% | 2.70% | +2.28% |
Volatility
REK vs. GQRE - Volatility Comparison
ProShares Short Real Estate (REK) has a higher volatility of 5.24% compared to FlexShares Global Quality Real Estate Index Fund (GQRE) at 3.71%. This indicates that REK's price experiences larger fluctuations and is considered to be riskier than GQRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| REK | GQRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 3.71% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 9.20% | +1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 11.84% | +2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 16.46% | +2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 17.64% | +2.71% |
REK vs. GQRE - Expense Ratio Comparison
REK has a 0.95% expense ratio, which is higher than GQRE's 0.45% expense ratio.
Dividends
REK vs. GQRE - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.38%, less than GQRE's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GQRE FlexShares Global Quality Real Estate Index Fund | 4.28% | 4.75% | 3.77% | 2.91% | 2.56% | 2.36% | 2.05% | 4.29% | 3.22% | 1.97% | 4.16% | 2.32% |
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 GQRE have a correlation of -0.90, 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 GQRE (3.71%). In terms of maximum drawdown, REK dropped -84.57% vs GQRE's -41.87%.
On 10-year performance, GQRE leads with 4.14% vs -6.46% for REK. On fees, GQRE is cheaper at 0.45% per year. On volatility, GQRE has been the lower-risk option at 3.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GQRE has performed better with a 4.14% return vs -6.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GQRE is cheaper with a 0.45% expense ratio, compared with 0.95% for REK.
GQRE has the higher dividend yield at 4.28%, compared with 3.38% for REK.
REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while GQRE tracks Northern Trust Global Quality Real Estate (NR). They also come from different issuers: ProShares and Northern Trust. Their fees differ too: 0.95% for REK and 0.45% for GQRE.
GQRE currently has the higher Sharpe Ratio (0.98 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.
Find the right allocation for REK and GQRE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer