REK vs. QLD
REK (ProShares Short Real Estate) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - REK is a REIT fund tracking the DJ Global United States (All) / Real Estate -SS (-100%), while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, REK returned -6.46%/yr vs 36.15%/yr for QLD. At a correlation of -0.48, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
REK vs. QLD - 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 QLD's 28.38% return. Over the past 10 years, REK has underperformed QLD with an annualized return of -6.46%, while QLD has yielded a comparatively higher 36.15% 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%
QLD
- 1D
- -0.93%
- 1M
- -2.93%
- YTD
- 28.38%
- 6M
- 24.28%
- 1Y
- 60.38%
- 3Y*
- 43.16%
- 5Y*
- 21.23%
- 10Y*
- 36.15%
REK vs. QLD - 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% |
QLD ProShares Ultra QQQ | 28.38% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Correlation
The correlation between REK and QLD is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.42 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | -0.48 |
Over the past year, the inverse relationship between REK and QLD has weakened: their correlation has moved from -0.48 to -0.04, meaning they move in opposite directions less often than they have historically.
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Return for Risk
REK vs. QLD — Risk / Return Rank
REK
QLD
REK vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and ProShares Ultra QQQ (QLD). 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 | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.55 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.29 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 2.41 | -2.82 |
| Martin ratioReturn relative to average drawdown | -0.90 | 8.15 | -9.05 |
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Drawdowns
REK vs. QLD - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, roughly equal to the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for REK and QLD.
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Drawdown Indicators
| REK | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -83.13% | -1.44% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -25.13% | +14.08% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -42.29% | +15.36% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -63.68% | +36.75% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | -63.68% | +5.01% |
Current DrawdownCurrent decline from peak | -82.56% | -10.11% | -72.45% |
Average DrawdownAverage peak-to-trough decline | -64.12% | -18.14% | -45.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.98% | 7.43% | -2.45% |
Volatility
REK vs. QLD - Volatility Comparison
The current volatility for ProShares Short Real Estate (REK) is 5.24%, while ProShares Ultra QQQ (QLD) has a volatility of 18.22%. This indicates that REK experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REK | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 18.22% | -12.98% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 28.88% | -18.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 35.74% | -21.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 45.34% | -26.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 44.79% | -24.44% |
REK vs. QLD - Expense Ratio Comparison
Both REK and QLD have an expense ratio of 0.95%.
Dividends
REK vs. QLD - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.38%, more than QLD's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
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 QLD have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QLD has higher volatility (18.22%) compared to REK (5.24%). In terms of maximum drawdown, REK dropped -84.57% vs QLD's -83.13%.
On 10-year performance, QLD leads with 36.15% vs -6.46% for REK. Both ETFs have the same 0.95% expense ratio. On volatility, REK has been the lower-risk option at 5.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLD has performed better with a 36.15% return vs -6.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REK and QLD have the same expense ratio: 0.95% per year.
REK has the higher dividend yield at 3.38%, compared with 0.13% for QLD.
REK is categorized as REIT, while QLD is Leveraged Equities. REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while QLD tracks NASDAQ-100 Index (200%).
QLD currently has the higher Sharpe Ratio (1.70 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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