REK vs. VNQ
REK (ProShares Short Real Estate) and VNQ (Vanguard Real Estate ETF) are both REIT funds - REK tracks the DJ Global United States (All) / Real Estate -SS (-100%) while VNQ tracks the MSCI US Investable Market Real Estate 25/50 Index. Both are passively managed. Over the past 10 years, REK returned -5.83%/yr vs 4.90%/yr for VNQ. At a correlation of -0.95, they often move in opposite directions. REK charges 0.95%/yr vs 0.13%/yr for VNQ.
Performance
REK vs. VNQ - Performance Comparison
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Returns By Period
In the year-to-date period, REK achieves a -9.25% return, which is significantly lower than VNQ's 12.72% return. Over the past 10 years, REK has underperformed VNQ with an annualized return of -5.83%, while VNQ has yielded a comparatively higher 4.90% annualized return.
REK
- 1D
- -0.40%
- 1M
- 0.86%
- 6M
- -8.81%
- YTD
- -9.25%
- 1Y
- -5.74%
- 3Y*
- -2.87%
- 5Y*
- 0.03%
- 10Y*
- -5.83%
VNQ
- 1D
- 0.52%
- 1M
- 0.19%
- 6M
- 11.34%
- YTD
- 12.72%
- 1Y
- 13.21%
- 3Y*
- 8.55%
- 5Y*
- 2.42%
- 10Y*
- 4.90%
REK vs. VNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | -9.25% | 2.35% | 1.42% | -6.61% | 29.17% | -30.58% | -11.33% | -20.96% | 4.61% | -9.34% |
VNQ Vanguard Real Estate ETF | 12.72% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
Correlation
The correlation between REK and VNQ is -0.97, 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 | -0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.97 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | -0.95 |
The correlation between REK and VNQ has been stable across timeframes, ranging from -0.98 to -0.95 - a consistent structural relationship.
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Return for Risk
REK vs. VNQ — Risk / Return Rank
REK
VNQ
REK vs. VNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and Vanguard Real Estate ETF (VNQ). 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 | VNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.17 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 1.59 | -2.09 |
| Martin ratioReturn relative to average drawdown | -1.06 | 4.99 | -6.06 |
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Drawdowns
REK vs. VNQ - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, which is greater than VNQ's maximum drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for REK and VNQ.
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Drawdown Indicators
| REK | VNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -73.07% | -11.50% |
Max Drawdown (1Y)Largest decline over 1 year | -11.62% | -8.34% | -3.28% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -17.46% | -9.47% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -34.48% | +7.55% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | -42.40% | -16.27% |
Current DrawdownCurrent decline from peak | -82.46% | -0.85% | -81.61% |
Average DrawdownAverage peak-to-trough decline | -64.18% | -13.57% | -50.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.42% | 2.65% | +2.77% |
Volatility
REK vs. VNQ - Volatility Comparison
ProShares Short Real Estate (REK) has a higher volatility of 5.32% compared to Vanguard Real Estate ETF (VNQ) at 4.93%. This indicates that REK's price experiences larger fluctuations and is considered to be riskier than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REK | VNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 4.93% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 11.12% | 10.62% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.35% | 13.94% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 18.89% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.36% | 20.75% | -0.39% |
REK vs. VNQ - Expense Ratio Comparison
REK has a 0.95% expense ratio, which is higher than VNQ's 0.13% expense ratio.
Dividends
REK vs. VNQ - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.26%, less than VNQ's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | 3.26% | 3.43% | 6.22% | 4.50% | 0.48% | 0.00% | 0.07% | 1.28% | 0.43% | 0.00% | 0.00% | 0.00% |
VNQ Vanguard Real Estate ETF | 3.55% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
Frequently Asked Questions
REK and VNQ have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REK has higher volatility (5.32%) compared to VNQ (4.93%). In terms of maximum drawdown, REK dropped -84.57% vs VNQ's -73.07%.
On 10-year performance, VNQ leads with 4.90% vs -5.83% for REK. On fees, VNQ is cheaper at 0.13% per year. On volatility, VNQ has been the lower-risk option at 4.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VNQ has performed better with a 4.90% return vs -5.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQ is cheaper with a 0.13% expense ratio, compared with 0.95% for REK.
VNQ has the higher dividend yield at 3.55%, compared with 3.26% for REK.
REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while VNQ tracks MSCI US Investable Market Real Estate 25/50 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for REK and 0.13% for VNQ.
VNQ currently has the higher Sharpe Ratio (0.95 vs -0.40), 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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