REK vs. UVXY
REK (ProShares Short Real Estate) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - REK is a REIT fund tracking the DJ Global United States (All) / Real Estate -SS (-100%), while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, REK returned -6.20%/yr vs -72.67%/yr for UVXY. At a 0.47 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
REK vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, REK achieves a -6.58% return, which is significantly higher than UVXY's -19.06% return. Over the past 10 years, REK has outperformed UVXY with an annualized return of -6.20%, while UVXY has yielded a comparatively lower -72.67% annualized return.
REK
- 1D
- -0.49%
- 1M
- 1.33%
- YTD
- -6.58%
- 6M
- -5.51%
- 1Y
- -2.96%
- 3Y*
- -3.69%
- 5Y*
- -0.14%
- 10Y*
- -6.20%
UVXY
- 1D
- -0.24%
- 1M
- -22.10%
- YTD
- -19.06%
- 6M
- -37.37%
- 1Y
- -72.91%
- 3Y*
- -64.55%
- 5Y*
- -67.90%
- 10Y*
- -72.67%
REK vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | -6.58% | 2.35% | 1.42% | -6.61% | 29.17% | -30.58% | -11.33% | -20.96% | 4.61% | -9.34% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -19.06% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between REK and UVXY is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2011 | 0.47 |
Over the past year, the correlation between REK and UVXY has dropped to 0.26 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
REK vs. UVXY — Risk / Return Rank
REK
UVXY
REK vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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.
| REK | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.82 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.29 | -0.97 | +0.68 |
| Martin ratioReturn relative to average drawdown | -0.67 | -1.31 | +0.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| REK | UVXY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.22 | -0.87 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | -0.66 | +0.65 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.31 | -0.64 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | -0.68 | +0.19 |
Drawdowns
REK vs. UVXY - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for REK and UVXY.
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Drawdown Indicators
| REK | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -100.00% | +15.43% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -75.22% | +64.99% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -95.45% | +68.52% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -99.68% | +72.75% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | -100.00% | +41.33% |
Current DrawdownCurrent decline from peak | -81.95% | -100.00% | +18.05% |
Average DrawdownAverage peak-to-trough decline | -64.08% | -98.55% | +34.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | 55.63% | -51.21% |
Volatility
REK vs. UVXY - Volatility Comparison
The current volatility for ProShares Short Real Estate (REK) is 3.91%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. This indicates that REK experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REK | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 11.77% | -7.86% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 62.64% | -52.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.42% | 84.42% | -71.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.86% | 103.85% | -84.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.30% | 113.82% | -93.52% |
REK vs. UVXY - Expense Ratio Comparison
Both REK and UVXY have an expense ratio of 0.95%.
Dividends
REK vs. UVXY - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.27%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | 3.27% | 3.43% | 6.22% | 4.50% | 0.48% | 0.00% | 0.07% | 1.28% | 0.43% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
REK and UVXY have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (11.77%) compared to REK (3.91%). In terms of maximum drawdown, REK dropped -84.57% vs UVXY's -100.00%.
On 10-year performance, REK leads with -6.20% vs -72.67% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, REK has been the lower-risk option at 3.91%. 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 -6.20% return vs -72.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REK and UVXY have the same expense ratio: 0.95% per year.
REK has the higher dividend yield at 3.27%, compared with 0.00% for UVXY.
REK is categorized as REIT, while UVXY is Volatility. REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
REK currently has the higher Sharpe Ratio (-0.22 vs -0.87), 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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