REK vs. NETL
REK (ProShares Short Real Estate) and NETL (NETLease Corporate Real Estate ETF) are both REIT funds - REK tracks the DJ Global United States (All) / Real Estate -SS (-100%) while NETL tracks the Fundamental Income Net Lease Real Estate Index. Both are passively managed. Over the past 5 years, REK returned -0.24%/yr vs 2.90%/yr for NETL. At a correlation of -0.85, they often move in opposite directions. REK charges 0.95%/yr vs 0.60%/yr for NETL.
Performance
REK vs. NETL - 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 NETL's 21.87% 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%
NETL
- 1D
- 3.98%
- 1M
- 6.27%
- 6M
- 15.62%
- YTD
- 21.87%
- 1Y
- 22.06%
- 3Y*
- 9.58%
- 5Y*
- 2.90%
- 10Y*
- —
REK vs. NETL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | -10.66% | 2.35% | 1.42% | -6.61% | 29.17% | -30.58% | -11.33% | -8.85% |
NETL NETLease Corporate Real Estate ETF | 21.87% | 6.05% | -1.08% | 2.69% | -16.16% | 27.36% | -0.73% | 12.04% |
Correlation
The correlation between REK and NETL is -0.77, 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 | -0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.84 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019 | -0.85 |
The correlation between REK and NETL has been stable across timeframes, ranging from -0.85 to -0.77 - a consistent structural relationship.
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Return for Risk
REK vs. NETL — Risk / Return Rank
REK
NETL
REK vs. NETL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and NETLease Corporate Real Estate ETF (NETL). 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 | NETL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.85 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.27 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 2.42 | -3.01 |
| Martin ratioReturn relative to average drawdown | -1.24 | 7.81 | -9.06 |
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Drawdowns
REK vs. NETL - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, which is greater than NETL's maximum drawdown of -51.48%. Use the drawdown chart below to compare losses from any high point for REK and NETL.
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Drawdown Indicators
| REK | NETL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -51.48% | -33.09% |
Max Drawdown (1Y)Largest decline over 1 year | -11.67% | -9.16% | -2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -19.30% | -7.63% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -30.74% | +3.81% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | — | — |
Current DrawdownCurrent decline from peak | -82.74% | 0.00% | -82.74% |
Average DrawdownAverage peak-to-trough decline | -64.19% | -11.48% | -52.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.52% | 2.83% | +2.69% |
Volatility
REK vs. NETL - Volatility Comparison
The current volatility for ProShares Short Real Estate (REK) is 5.55%, while NETLease Corporate Real Estate ETF (NETL) has a volatility of 5.95%. This indicates that REK experiences smaller price fluctuations and is considered to be less risky than NETL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REK | NETL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 5.95% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.28% | 11.30% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.39% | 14.35% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.98% | 18.08% | +0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.36% | 25.83% | -5.47% |
REK vs. NETL - Expense Ratio Comparison
REK has a 0.95% expense ratio, which is higher than NETL's 0.60% expense ratio.
Dividends
REK vs. NETL - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.32%, less than NETL's 4.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NETL NETLease Corporate Real Estate ETF | 4.41% | 5.12% | 5.08% | 4.57% | 4.47% | 4.03% | 3.98% | 2.52% | 0.00% |
REK ProShares Short Real Estate | 3.32% | 3.43% | 6.22% | 4.50% | 0.48% | 0.00% | 0.07% | 1.28% | 0.43% |
Frequently Asked Questions
REK and NETL have a correlation of -0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NETL has higher volatility (5.95%) compared to REK (5.55%). In terms of maximum drawdown, REK dropped -84.57% vs NETL's -51.48%.
On 5-year performance, NETL leads with 2.90% vs -0.24% for REK. On fees, NETL is cheaper at 0.60% per year. On volatility, REK has been the lower-risk option at 5.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NETL has performed better with a 2.90% return vs -0.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NETL is cheaper with a 0.60% expense ratio, compared with 0.95% for REK.
NETL has the higher dividend yield at 4.41%, compared with 3.32% for REK.
REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while NETL tracks Fundamental Income Net Lease Real Estate Index. They also come from different issuers: ProShares and Exchange Traded Concepts. Their fees differ too: 0.95% for REK and 0.60% for NETL.
NETL currently has the higher Sharpe Ratio (1.54 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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