REK vs. ICF
REK (ProShares Short Real Estate) and ICF (iShares Cohen & Steers REIT ETF) are both REIT funds - REK tracks the DJ Global United States (All) / Real Estate -SS (-100%) while ICF tracks the Cohen & Steers Realty Majors Index. Both are passively managed. Over the past 10 years, REK returned -5.78%/yr vs 5.12%/yr for ICF. Their -0.95 correlation means they have often moved in opposite directions in the past. REK charges 0.95%/yr vs 0.34%/yr for ICF.
Performance
REK vs. ICF - Performance Comparison
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Returns By Period
In the year-to-date period, REK achieves a -9.66% return, which is significantly lower than ICF's 16.55% return. Over the past 10 years, REK has underperformed ICF with an annualized return of -5.78%, while ICF has yielded a comparatively higher 5.12% annualized return.
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%
ICF
- 1D
- -0.55%
- 1M
- 0.58%
- 6M
- 13.59%
- YTD
- 16.55%
- 1Y
- 17.81%
- 3Y*
- 9.93%
- 5Y*
- 2.73%
- 10Y*
- 5.12%
- ALL TIME*
- 8.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.66M | $8.44M | $9.45M | |
| $70.29K | $233.75K | $176.01K |
REK vs. ICF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | -9.66% | 2.35% | 1.42% | -6.61% | 29.17% | -30.58% | -11.33% | -20.96% | 4.61% | -9.34% |
ICF iShares Cohen & Steers REIT ETF | 16.55% | 1.85% | 5.30% | 10.36% | -26.12% | 44.17% | -5.43% | 25.48% | -2.55% | 4.90% |
Correlation
The correlation between REK and ICF is -0.98, 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. | -0.98 |
Correlation (3Y) Balances recent behavior with more history. | -0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.97 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | -0.95 |
The correlation between REK and ICF has been stable across timeframes, ranging from -0.98 to -0.95 - a consistent structural relationship.
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Return for Risk
REK vs. ICF — Risk / Return Rank
REK
ICF
REK vs. ICF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and iShares Cohen & Steers REIT ETF (ICF). 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 | ICF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.38 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.22 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 2.15 | -2.68 |
| Martin ratioReturn relative to average drawdown | -1.12 | 6.96 | -8.08 |
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Drawdowns
REK vs. ICF - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, which is greater than ICF's maximum drawdown of -76.74%. Use the drawdown chart below to compare losses from any high point for REK and ICF.
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Drawdown Indicators
| REK | ICF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -76.74% | -7.83% |
Max Drawdown (1Y)Largest decline over 1 year | -12.66% | -8.20% | -4.46% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -17.25% | -9.68% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -34.74% | +7.81% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | -40.22% | -18.45% |
Current DrawdownCurrent decline from peak | -82.54% | -2.10% | -80.44% |
Average DrawdownAverage peak-to-trough decline | -64.24% | -14.10% | -50.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.02% | 2.53% | +3.49% |
Volatility
REK vs. ICF - Volatility Comparison
ProShares Short Real Estate (REK) and iShares Cohen & Steers REIT ETF (ICF) have volatilities of 4.68% and 4.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REK | ICF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 4.51% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.19% | 11.05% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.27% | 14.19% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 19.00% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.37% | 20.64% | -0.27% |
REK vs. ICF - Expense Ratio Comparison
REK has a 0.95% expense ratio, which is higher than ICF's 0.34% expense ratio.
Dividends
REK vs. ICF - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.28%, more than ICF's 2.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICF iShares Cohen & Steers REIT ETF | 2.41% | 2.88% | 2.66% | 2.76% | 2.64% | 1.82% | 2.38% | 2.55% | 3.20% | 3.10% | 4.21% | 3.30% |
REK ProShares Short Real Estate | 3.28% | 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 ICF have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REK has higher volatility (4.68%) compared to ICF (4.51%). In terms of maximum drawdown, REK dropped -84.57% vs ICF's -76.74%.
On 10-year performance, ICF leads with 5.12% vs -5.78% for REK. On fees, ICF is cheaper at 0.34% per year. On volatility, ICF has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ICF has performed better with a 5.12% return vs -5.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICF is cheaper with a 0.34% expense ratio, compared with 0.95% for REK.
REK has the higher dividend yield at 3.28%, compared with 2.41% for ICF.
REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while ICF tracks Cohen & Steers Realty Majors Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for REK and 0.34% for ICF.
ICF currently has the higher Sharpe Ratio (1.25 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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