REK vs. SQQQ
REK (ProShares Short Real Estate) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - REK is a REIT fund tracking the DJ Global United States (All) / Real Estate -SS (-100%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, REK returned -6.46%/yr vs -56.25%/yr for SQQQ. At a 0.48 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
REK vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, REK achieves a -9.73% return, which is significantly higher than SQQQ's -40.47% return. Over the past 10 years, REK has outperformed SQQQ with an annualized return of -6.46%, while SQQQ has yielded a comparatively lower -56.25% 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%
SQQQ
- 1D
- -0.27%
- 1M
- -2.53%
- YTD
- -40.47%
- 6M
- -37.47%
- 1Y
- -59.36%
- 3Y*
- -53.90%
- 5Y*
- -46.94%
- 10Y*
- -56.25%
REK vs. SQQQ - 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% |
SQQQ ProShares UltraPro Short QQQ | -40.47% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between REK and SQQQ is 0.05, 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 | 0.05 |
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 correlation between REK and SQQQ has dropped to 0.05 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.
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Return for Risk
REK vs. SQQQ — Risk / Return Rank
REK
SQQQ
REK vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.79 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | -0.94 | +0.54 |
| Martin ratioReturn relative to average drawdown | -0.90 | -1.77 | +0.87 |
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Drawdowns
REK vs. SQQQ - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, smaller than the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for REK and SQQQ.
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Drawdown Indicators
| REK | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -100.00% | +15.43% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -63.25% | +52.20% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -92.51% | +65.58% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -97.27% | +70.34% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | -99.98% | +41.31% |
Current DrawdownCurrent decline from peak | -82.56% | -100.00% | +17.44% |
Average DrawdownAverage peak-to-trough decline | -64.12% | -92.73% | +28.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.98% | 33.97% | -28.99% |
Volatility
REK vs. SQQQ - Volatility Comparison
The current volatility for ProShares Short Real Estate (REK) is 5.24%, while ProShares UltraPro Short QQQ (SQQQ) has a volatility of 26.67%. This indicates that REK experiences smaller price fluctuations and is considered to be less risky than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REK | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 26.67% | -21.43% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 43.18% | -32.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 53.58% | -39.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 67.53% | -48.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 66.46% | -46.11% |
REK vs. SQQQ - Expense Ratio Comparison
Both REK and SQQQ have an expense ratio of 0.95%.
Dividends
REK vs. SQQQ - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.38%, less than SQQQ's 11.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SQQQ ProShares UltraPro Short QQQ | 11.47% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
REK and SQQQ have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQQQ has higher volatility (26.67%) compared to REK (5.24%). In terms of maximum drawdown, REK dropped -84.57% vs SQQQ's -100.00%.
On 10-year performance, REK leads with -6.46% vs -56.25% for SQQQ. 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, REK has performed better with a -6.46% return vs -56.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REK and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 11.47%, compared with 3.38% for REK.
REK is categorized as REIT, while SQQQ is Leveraged Equities. REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while SQQQ tracks NASDAQ-100 Index (-300%).
REK currently has the higher Sharpe Ratio (-0.32 vs -1.11), 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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