REK vs. VOO
REK (ProShares Short Real Estate) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - REK is a REIT fund tracking the DJ Global United States (All) / Real Estate -SS (-100%), while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, REK returned -6.40%/yr vs 15.61%/yr for VOO. At a correlation of -0.60, they often move in opposite directions. REK charges 0.95%/yr vs 0.03%/yr for VOO.
Performance
REK vs. VOO - Performance Comparison
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Returns By Period
In the year-to-date period, REK achieves a -9.23% return, which is significantly lower than VOO's 8.19% return. Over the past 10 years, REK has underperformed VOO with an annualized return of -6.40%, while VOO has yielded a comparatively higher 15.61% annualized return.
REK
- 1D
- -1.45%
- 1M
- -0.67%
- YTD
- -9.23%
- 6M
- -9.52%
- 1Y
- -4.22%
- 3Y*
- -5.24%
- 5Y*
- -0.65%
- 10Y*
- -6.40%
VOO
- 1D
- -1.42%
- 1M
- -1.34%
- YTD
- 8.19%
- 6M
- 7.24%
- 1Y
- 23.69%
- 3Y*
- 20.78%
- 5Y*
- 13.13%
- 10Y*
- 15.61%
REK vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | -9.23% | 2.35% | 1.42% | -6.61% | 29.17% | -30.58% | -11.33% | -20.96% | 4.61% | -9.34% |
VOO Vanguard S&P 500 ETF | 8.19% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between REK and VOO is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | -0.60 |
Over the past year, the inverse relationship between REK and VOO has weakened: their correlation has moved from -0.60 to -0.22, meaning they move in opposite directions less often than they have historically.
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Return for Risk
REK vs. VOO — Risk / Return Rank
REK
VOO
REK vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Real Estate (REK) and Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.35 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 2.67 | -3.06 |
| Martin ratioReturn relative to average drawdown | -0.86 | 11.96 | -12.82 |
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Drawdowns
REK vs. VOO - Drawdown Comparison
The maximum REK drawdown since its inception was -84.57%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for REK and VOO.
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Drawdown Indicators
| REK | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.57% | -33.99% | -50.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -8.90% | -2.15% |
Max Drawdown (3Y)Largest decline over 3 years | -26.93% | -18.69% | -8.24% |
Max Drawdown (5Y)Largest decline over 5 years | -26.93% | -24.52% | -2.41% |
Max Drawdown (10Y)Largest decline over 10 years | -58.67% | -33.99% | -24.68% |
Current DrawdownCurrent decline from peak | -82.46% | -3.14% | -79.32% |
Average DrawdownAverage peak-to-trough decline | -64.12% | -3.68% | -60.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.94% | 1.99% | +2.95% |
Volatility
REK vs. VOO - Volatility Comparison
ProShares Short Real Estate (REK) has a higher volatility of 5.22% compared to Vanguard S&P 500 ETF (VOO) at 4.83%. This indicates that REK's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REK | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 4.83% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 9.82% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.14% | 12.46% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 16.91% | +2.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 18.02% | +2.33% |
REK vs. VOO - Expense Ratio Comparison
REK has a 0.95% expense ratio, which is higher than VOO's 0.03% expense ratio.
Dividends
REK vs. VOO - Dividend Comparison
REK's dividend yield for the trailing twelve months is around 3.36%, more than VOO's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REK ProShares Short Real Estate | 3.36% | 3.43% | 6.22% | 4.50% | 0.48% | 0.00% | 0.07% | 1.28% | 0.43% | 0.00% | 0.00% | 0.00% |
VOO Vanguard S&P 500 ETF | 1.05% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
REK and VOO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REK has higher volatility (5.22%) compared to VOO (4.83%). In terms of maximum drawdown, REK dropped -84.57% vs VOO's -33.99%.
On 10-year performance, VOO leads with 15.61% vs -6.40% for REK. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOO has performed better with a 15.61% return vs -6.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO is cheaper with a 0.03% expense ratio, compared with 0.95% for REK.
REK has the higher dividend yield at 3.36%, compared with 1.05% for VOO.
REK is categorized as REIT, while VOO is S&P 500. REK tracks DJ Global United States (All) / Real Estate -SS (-100%), while VOO tracks S&P 500 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for REK and 0.03% for VOO.
VOO currently has the higher Sharpe Ratio (1.91 vs -0.30), 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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