SKRE vs. IAT
SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) and IAT (iShares U.S. Regional Banks ETF) are both exchange-traded funds - SKRE is a Inverse Equities fund tracking the S&P Regional Banks Select Industry, while IAT is a Financials Equities fund tracking the Dow Jones U.S. Select Regional Banks Index. Both are passively managed. Over the past year, SKRE returned -49.41% vs 33.38% for IAT. Their -0.95 correlation means they have often moved in opposite directions in the past. SKRE charges 0.75%/yr vs 0.42%/yr for IAT.
Performance
SKRE vs. IAT - Performance Comparison
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Returns By Period
In the year-to-date period, SKRE achieves a -33.64% return, which is significantly lower than IAT's 16.55% return.
SKRE
- 1D
- -0.47%
- 1M
- -3.55%
- 6M
- -24.32%
- YTD
- -33.64%
- 1Y
- -49.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -41.39%
IAT
- 1D
- 0.05%
- 1M
- 1.29%
- 6M
- 10.79%
- YTD
- 16.55%
- 1Y
- 33.38%
- 3Y*
- 22.18%
- 5Y*
- 5.94%
- 10Y*
- 9.76%
- ALL TIME*
- 3.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.75M | $9.87M | $9.53M | |
| $138.55K | $152.58K | $246.42K |
SKRE vs. IAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | -33.64% | -31.29% | -44.47% |
IAT iShares U.S. Regional Banks ETF | 16.55% | 13.05% | 27.04% |
Correlation
The correlation between SKRE and IAT is -0.94, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.94 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024 | -0.95 |
The correlation between SKRE and IAT has been stable across timeframes, ranging from -0.95 to -0.94 - a consistent structural relationship.
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Return for Risk
SKRE vs. IAT — Risk / Return Rank
SKRE
IAT
SKRE vs. IAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) and iShares U.S. Regional Banks ETF (IAT). 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.
| SKRE | IAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.43 | ||
| Sortino ratioReturn per unit of downside risk | -3.53 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.25 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 1.75 | -2.67 |
| Martin ratioReturn relative to average drawdown | -1.55 | 4.51 | -6.07 |
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Drawdowns
SKRE vs. IAT - Drawdown Comparison
The maximum SKRE drawdown since its inception was -79.33%, roughly equal to the maximum IAT drawdown of -77.22%. Use the drawdown chart below to compare losses from any high point for SKRE and IAT.
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Drawdown Indicators
| SKRE | IAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.33% | -77.22% | -2.11% |
Max Drawdown (1Y)Largest decline over 1 year | -51.44% | -17.49% | -33.95% |
Max Drawdown (3Y)Largest decline over 3 years | — | -29.29% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -55.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.55% | — |
Current DrawdownCurrent decline from peak | -78.48% | -2.53% | -75.95% |
Average DrawdownAverage peak-to-trough decline | -49.04% | -26.77% | -22.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.59% | 6.77% | +23.82% |
Volatility
SKRE vs. IAT - Volatility Comparison
Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) has a higher volatility of 11.05% compared to iShares U.S. Regional Banks ETF (IAT) at 5.49%. This indicates that SKRE's price experiences larger fluctuations and is considered to be riskier than IAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SKRE | IAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.05% | 5.49% | +5.56% |
Volatility (6M)Calculated over the trailing 6-month period | 30.36% | 16.01% | +14.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.00% | 21.95% | +24.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.78% | 28.76% | +26.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.78% | 30.67% | +24.11% |
SKRE vs. IAT - Expense Ratio Comparison
SKRE has a 0.75% expense ratio, which is higher than IAT's 0.42% expense ratio.
Dividends
SKRE vs. IAT - Dividend Comparison
SKRE's dividend yield for the trailing twelve months is around 0.39%, less than IAT's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAT iShares U.S. Regional Banks ETF | 2.54% | 2.94% | 2.95% | 3.56% | 3.12% | 1.88% | 2.87% | 2.49% | 2.48% | 1.55% | 1.52% | 1.78% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | 0.39% | 0.26% | 3.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SKRE and IAT have a correlation of -0.94, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKRE has higher volatility (11.05%) compared to IAT (5.49%). In terms of maximum drawdown, SKRE dropped -79.33% vs IAT's -77.22%.
On 1-year performance, IAT leads with 33.38% vs -49.41% for SKRE. On fees, IAT is cheaper at 0.42% per year. On volatility, IAT has been the lower-risk option at 5.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IAT has performed better with a 33.38% return vs -49.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAT is cheaper with a 0.42% expense ratio, compared with 0.75% for SKRE.
IAT has the higher dividend yield at 2.54%, compared with 0.39% for SKRE.
SKRE is categorized as Inverse Equities, while IAT is Financials Equities. SKRE tracks S&P Regional Banks Select Industry, while IAT tracks Dow Jones U.S. Select Regional Banks Index. They also come from different issuers: Tuttle and iShares. Their fees differ too: 0.75% for SKRE and 0.42% for IAT.
IAT currently has the higher Sharpe Ratio (1.40 vs -1.04), 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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