REZ vs. URE
Compare and contrast key facts about iShares Residential Real Estate ETF (REZ) and ProShares Ultra Real Estate (URE).
REZ and URE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. REZ is a passively managed fund by iShares that tracks the performance of the FTSE NAREIT All Residential Capped Index. It was launched on May 4, 2007. URE is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Real Estate Index (200%). It was launched on Jan 30, 2007. Both REZ and URE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
REZ vs. URE - Performance Comparison
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REZ vs. URE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REZ iShares Residential Real Estate ETF | 0.69% | 4.80% | 12.73% | 10.97% | -28.31% | 47.86% | -6.62% | 24.49% | 3.89% | 3.87% |
URE ProShares Ultra Real Estate | 1.63% | -3.65% | 0.35% | 11.58% | -49.64% | 88.24% | -28.06% | 57.86% | -13.80% | 16.56% |
Returns By Period
In the year-to-date period, REZ achieves a 0.69% return, which is significantly lower than URE's 1.63% return. Over the past 10 years, REZ has outperformed URE with an annualized return of 5.55%, while URE has yielded a comparatively lower 1.86% annualized return.
REZ
- 1D
- 1.02%
- 1M
- -7.10%
- YTD
- 0.69%
- 6M
- -1.00%
- 1Y
- -1.49%
- 3Y*
- 8.30%
- 5Y*
- 4.57%
- 10Y*
- 5.55%
URE
- 1D
- 3.10%
- 1M
- -12.81%
- YTD
- 1.63%
- 6M
- -6.43%
- 1Y
- -6.73%
- 3Y*
- 3.31%
- 5Y*
- -2.68%
- 10Y*
- 1.86%
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REZ vs. URE - Expense Ratio Comparison
REZ has a 0.48% expense ratio, which is lower than URE's 0.95% expense ratio.
Return for Risk
REZ vs. URE — Risk / Return Rank
REZ
URE
REZ vs. URE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Residential Real Estate ETF (REZ) and ProShares Ultra Real Estate (URE). 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.
| REZ | URE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.09 | -0.21 | +0.12 |
Sortino ratioReturn per unit of downside risk | -0.01 | -0.07 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.00 | 0.99 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | -0.07 | -0.21 | +0.14 |
Martin ratioReturn relative to average drawdown | -0.22 | -0.62 | +0.41 |
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
| REZ | URE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | -0.21 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | -0.07 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | 0.05 | +0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | -0.07 | +0.30 |
Correlation
The correlation between REZ and URE is 0.90, 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.
Dividends
REZ vs. URE - Dividend Comparison
REZ's dividend yield for the trailing twelve months is around 2.28%, which matches URE's 2.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REZ iShares Residential Real Estate ETF | 2.28% | 2.74% | 2.26% | 2.94% | 3.37% | 1.81% | 3.17% | 2.90% | 3.63% | 3.57% | 5.55% | 3.18% |
URE ProShares Ultra Real Estate | 2.30% | 2.42% | 2.09% | 1.32% | 1.26% | 0.58% | 0.94% | 1.10% | 1.53% | 0.93% | 0.96% | 0.81% |
Drawdowns
REZ vs. URE - Drawdown Comparison
The maximum REZ drawdown since its inception was -66.87%, smaller than the maximum URE drawdown of -97.16%. Use the drawdown chart below to compare losses from any high point for REZ and URE.
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Drawdown Indicators
| REZ | URE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.87% | -97.16% | +30.29% |
Max Drawdown (1Y)Largest decline over 1 year | -11.82% | -22.93% | +11.11% |
Max Drawdown (5Y)Largest decline over 5 years | -35.05% | -63.66% | +28.61% |
Max Drawdown (10Y)Largest decline over 10 years | -44.15% | -70.49% | +26.34% |
Current DrawdownCurrent decline from peak | -7.70% | -57.80% | +50.10% |
Average DrawdownAverage peak-to-trough decline | -12.79% | -64.63% | +51.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 7.58% | -3.74% |
Volatility
REZ vs. URE - Volatility Comparison
The current volatility for iShares Residential Real Estate ETF (REZ) is 4.65%, while ProShares Ultra Real Estate (URE) has a volatility of 9.23%. This indicates that REZ experiences smaller price fluctuations and is considered to be less risky than URE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REZ | URE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.65% | 9.23% | -4.58% |
Volatility (6M)Calculated over the trailing 6-month period | 10.18% | 19.05% | -8.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.81% | 32.54% | -15.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.88% | 37.26% | -18.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.52% | 40.50% | -18.98% |