REZ vs. URE
REZ (iShares Residential and Multisector Real Estate ETF) and URE (ProShares Ultra Real Estate) are both REIT funds - REZ tracks the FTSE NAREIT All Residential Capped Index while URE tracks the Dow Jones U.S. Real Estate Index (200%). Both are passively managed. Over the past 10 years, REZ returned 6.74%/yr vs 2.02%/yr for URE. Their correlation of 0.90 means they have usually moved in the same direction. REZ charges 0.48%/yr vs 0.95%/yr for URE.
Performance
REZ vs. URE - Performance Comparison
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Returns By Period
In the year-to-date period, REZ achieves a 16.94% return, which is significantly lower than URE's 22.49% return. Over the past 10 years, REZ has outperformed URE with an annualized return of 6.74%, while URE has yielded a comparatively lower 2.02% annualized return.
REZ
- 1D
- 0.01%
- 1M
- -1.36%
- 6M
- 15.00%
- YTD
- 16.94%
- 1Y
- 20.55%
- 3Y*
- 12.14%
- 5Y*
- 3.89%
- 10Y*
- 6.74%
- ALL TIME*
- 7.32%
URE
- 1D
- -1.02%
- 1M
- 1.20%
- 6M
- 17.22%
- YTD
- 22.49%
- 1Y
- 17.43%
- 3Y*
- 8.91%
- 5Y*
- -4.19%
- 10Y*
- 2.02%
- ALL TIME*
- -3.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.79M | $3.86M | $3.20M | |
| $671.44K | $397.42K | $253.68K |
REZ vs. URE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REZ iShares Residential and Multisector Real Estate ETF | 16.94% | 4.80% | 12.73% | 10.97% | -28.31% | 47.86% | -6.62% | 24.49% | 3.89% | 3.87% |
URE ProShares Ultra Real Estate | 22.49% | -3.65% | 0.35% | 11.58% | -49.64% | 88.24% | -28.06% | 57.86% | -13.80% | 16.56% |
Correlation
The correlation between REZ and URE is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since May 4, 2007 | 0.90 |
The correlation between REZ and URE has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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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 and Multisector 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.
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.
| REZ | URE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.12 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 1.04 | +1.39 |
| Martin ratioReturn relative to average drawdown | 7.59 | 2.86 | +4.73 |
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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 | -8.76% | -16.50% | +7.74% |
Max Drawdown (3Y)Largest decline over 3 years | -15.40% | -33.77% | +18.37% |
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 | -3.23% | -49.14% | +45.91% |
Average DrawdownAverage peak-to-trough decline | -12.59% | -64.38% | +51.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.80% | 6.00% | -3.20% |
Volatility
REZ vs. URE - Volatility Comparison
The current volatility for iShares Residential and Multisector Real Estate ETF (REZ) is 5.95%, while ProShares Ultra Real Estate (URE) has a volatility of 8.85%. 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 | 5.95% | 8.85% | -2.90% |
Volatility (6M)Calculated over the trailing 6-month period | 12.35% | 22.09% | -9.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.55% | 28.19% | -12.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.06% | 37.50% | -18.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.62% | 40.68% | -19.06% |
REZ vs. URE - Expense Ratio Comparison
REZ has a 0.48% expense ratio, which is lower than URE's 0.95% expense ratio.
Dividends
REZ vs. URE - Dividend Comparison
REZ's dividend yield for the trailing twelve months is around 1.96%, less than URE's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
REZ iShares Residential and Multisector Real Estate ETF | 1.96% | 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 | 1.99% | 2.42% | 2.09% | 1.32% | 1.26% | 0.58% | 0.94% | 1.10% | 1.53% | 0.93% | 0.96% | 0.81% |
Frequently Asked Questions
REZ and URE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URE has higher volatility (8.85%) compared to REZ (5.95%). In terms of maximum drawdown, REZ dropped -66.87% vs URE's -97.16%.
On 10-year performance, REZ leads with 6.74% vs 2.02% for URE. On fees, REZ is cheaper at 0.48% per year. On volatility, REZ has been the lower-risk option at 5.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, REZ has performed better with a 6.74% return vs 2.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REZ is cheaper with a 0.48% expense ratio, compared with 0.95% for URE.
URE has the higher dividend yield at 1.99%, compared with 1.96% for REZ.
REZ tracks FTSE NAREIT All Residential Capped Index, while URE tracks Dow Jones U.S. Real Estate Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.48% for REZ and 0.95% for URE.
REZ currently has the higher Sharpe Ratio (1.38 vs 0.62), 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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