REK vs. RWX
REK (ProShares Short Real Estate) and RWX (SPDR DJ Wilshire International Real Estate ETF) are both REIT funds - REK tracks the DJ Global United States (All) / Real Estate -SS (-100%) while RWX tracks the Dow Jones Global ex-U.S. Real Estate Securities Index. Both are passively managed. Over the past 10 years, REK returned -6.46%/yr vs 0.94%/yr for RWX. At a correlation of -0.60, they often move in opposite directions. REK charges 0.95%/yr vs 0.59%/yr for RWX.
Performance
REK vs. RWX - 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 RWX's -2.82% return. Over the past 10 years, REK has underperformed RWX with an annualized return of -6.46%, while RWX has yielded a comparatively higher 0.94% 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%
RWX
- 1D
- 1.48%
- 1M
- -1.37%
- YTD
- -2.82%
- 6M
- -3.24%
- 1Y
- 2.36%
- 3Y*
- 6.91%
- 5Y*
- -2.47%
- 10Y*
- 0.94%
REK vs. RWX - 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% |
RWX SPDR DJ Wilshire International Real Estate ETF | -2.82% | 26.24% | -12.15% | 6.25% | -21.84% | 9.34% | -9.03% | 19.88% | -8.25% | 15.50% |
Correlation
The correlation between REK and RWX is -0.52, 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 | -0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | -0.60 |
The correlation between REK and RWX shifts across timeframes, from -0.63 (5 years) to -0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
REK vs. RWX — Risk / Return Rank
REK
RWX
REK vs. RWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and SPDR DJ Wilshire International Real Estate ETF (RWX). 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 | RWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.04 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 0.17 | -0.58 |
| Martin ratioReturn relative to average drawdown | -0.90 | 0.45 | -1.35 |
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Drawdowns
REK vs. RWX - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, which is greater than RWX's maximum drawdown of -73.62%. Use the drawdown chart below to compare losses from any high point for REK and RWX.
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Drawdown Indicators
| REK | RWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -73.62% | -10.95% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -13.58% | +2.53% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -19.05% | -7.88% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -35.91% | +8.98% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | -43.37% | -15.30% |
Current DrawdownCurrent decline from peak | -82.56% | -14.30% | -68.26% |
Average DrawdownAverage peak-to-trough decline | -64.12% | -20.27% | -43.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.98% | 5.21% | -0.23% |
Volatility
REK vs. RWX - Volatility Comparison
ProShares Short Real Estate (REK) has a higher volatility of 5.24% compared to SPDR DJ Wilshire International Real Estate ETF (RWX) at 4.31%. This indicates that REK's price experiences larger fluctuations and is considered to be riskier than RWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REK | RWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 4.31% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 11.35% | -0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 13.59% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 15.86% | +3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 16.32% | +4.03% |
REK vs. RWX - Expense Ratio Comparison
REK has a 0.95% expense ratio, which is higher than RWX's 0.59% expense ratio.
Dividends
REK vs. RWX - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.38%, less than RWX's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
RWX SPDR DJ Wilshire International Real Estate ETF | 4.03% | 3.65% | 4.32% | 3.90% | 4.05% | 4.62% | 2.92% | 8.94% | 5.28% | 2.77% | 8.74% | 2.94% |
Frequently Asked Questions
REK and RWX have a correlation of -0.52, 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 RWX (4.31%). In terms of maximum drawdown, REK dropped -84.57% vs RWX's -73.62%.
On 10-year performance, RWX leads with 0.94% vs -6.46% for REK. On fees, RWX is cheaper at 0.59% per year. On volatility, RWX has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RWX has performed better with a 0.94% return vs -6.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RWX is cheaper with a 0.59% expense ratio, compared with 0.95% for REK.
RWX has the higher dividend yield at 4.03%, compared with 3.38% for REK.
REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while RWX tracks Dow Jones Global ex-U.S. Real Estate Securities Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for REK and 0.59% for RWX.
RWX currently has the higher Sharpe Ratio (0.17 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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