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REW vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between REW and SPY is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.0
Correlation: 1.0

Performance

REW vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Technology (REW) and SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

0.00%5,000.00%10,000.00%15,000.00%20,000.00%NovemberDecember2025FebruaryMarchApril
12,987.56%
433.05%
REW
SPY

Key characteristics

Sharpe Ratio

REW:

-0.40

SPY:

0.54

Sortino Ratio

REW:

-0.20

SPY:

0.89

Omega Ratio

REW:

0.97

SPY:

1.13

Calmar Ratio

REW:

-0.24

SPY:

0.58

Martin Ratio

REW:

-0.91

SPY:

2.39

Ulcer Index

REW:

26.25%

SPY:

4.51%

Daily Std Dev

REW:

60.40%

SPY:

20.07%

Max Drawdown

REW:

-99.98%

SPY:

-55.19%

Current Drawdown

REW:

-99.98%

SPY:

-10.54%

Returns By Period

In the year-to-date period, REW achieves a 12.33% return, which is significantly higher than SPY's -6.44% return. Over the past 10 years, REW has underperformed SPY with an annualized return of -38.16%, while SPY has yielded a comparatively higher 11.95% annualized return.


REW

YTD

12.33%

1M

1.76%

6M

9.07%

1Y

-20.75%

5Y*

-39.07%

10Y*

-38.16%

SPY

YTD

-6.44%

1M

-5.00%

6M

-5.02%

1Y

9.54%

5Y*

15.80%

10Y*

11.95%

*Annualized

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REW vs. SPY - Expense Ratio Comparison

REW has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.


Expense ratio chart for REW: current value is 0.95%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
REW: 0.95%
Expense ratio chart for SPY: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPY: 0.09%

Risk-Adjusted Performance

REW vs. SPY — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

REW
The Risk-Adjusted Performance Rank of REW is 99
Overall Rank
The Sharpe Ratio Rank of REW is 77
Sharpe Ratio Rank
The Sortino Ratio Rank of REW is 1111
Sortino Ratio Rank
The Omega Ratio Rank of REW is 1111
Omega Ratio Rank
The Calmar Ratio Rank of REW is 88
Calmar Ratio Rank
The Martin Ratio Rank of REW is 77
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 6565
Overall Rank
The Sharpe Ratio Rank of SPY is 6262
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 6464
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 6565
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 6969
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 6767
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

REW vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Technology (REW) and SPDR S&P 500 ETF (SPY). 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.


The chart of Sharpe ratio for REW, currently valued at -0.40, compared to the broader market-1.000.001.002.003.004.00
REW: -0.40
SPY: 0.54
The chart of Sortino ratio for REW, currently valued at -0.20, compared to the broader market-2.000.002.004.006.008.00
REW: -0.20
SPY: 0.89
The chart of Omega ratio for REW, currently valued at 0.97, compared to the broader market0.501.001.502.002.50
REW: 0.97
SPY: 1.13
The chart of Calmar ratio for REW, currently valued at -0.24, compared to the broader market0.002.004.006.008.0010.0012.00
REW: -0.24
SPY: 0.58
The chart of Martin ratio for REW, currently valued at -0.91, compared to the broader market0.0020.0040.0060.00
REW: -0.91
SPY: 2.39

The current REW Sharpe Ratio is -0.40, which is lower than the SPY Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of REW and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
-0.40
0.54
REW
SPY

Dividends

REW vs. SPY - Dividend Comparison

REW's dividend yield for the trailing twelve months is around 5.13%, more than SPY's 1.31% yield.


TTM20242023202220212020201920182017201620152014
REW
ProShares UltraShort Technology
5.13%5.68%5.98%0.22%0.00%0.28%1.80%0.50%0.00%0.00%0.00%0.00%
SPY
SPDR S&P 500 ETF
1.31%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

REW vs. SPY - Drawdown Comparison

The maximum REW drawdown since its inception was -99.98%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for REW and SPY. For additional features, visit the drawdowns tool.


-100.00%-80.00%-60.00%-40.00%-20.00%0.00%NovemberDecember2025FebruaryMarchApril
-99.98%
-10.54%
REW
SPY

Volatility

REW vs. SPY - Volatility Comparison

ProShares UltraShort Technology (REW) has a higher volatility of 41.17% compared to SPDR S&P 500 ETF (SPY) at 15.13%. This indicates that REW's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%10.00%20.00%30.00%40.00%NovemberDecember2025FebruaryMarchApril
41.17%
15.13%
REW
SPY