SRS vs. BBRE
SRS (ProShares UltraShort Real Estate) and BBRE (JPMorgan BetaBuilders MSCI US REIT ETF) are both REIT funds - SRS tracks the Dow Jones U.S. Real Estate Index (-200%) while BBRE tracks the MSCI US REIT Index. Both are passively managed. Over the past 5 years, SRS returned -5.85%/yr vs 5.15%/yr for BBRE. Their -0.95 correlation means they have often moved in opposite directions in the past. SRS charges 0.95%/yr vs 0.11%/yr for BBRE.
Performance
SRS vs. BBRE - Performance Comparison
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Returns By Period
In the year-to-date period, SRS achieves a -21.34% return, which is significantly lower than BBRE's 19.96% return.
SRS
- 1D
- -0.52%
- 1M
- -2.10%
- 6M
- -19.18%
- YTD
- -21.34%
- 1Y
- -18.17%
- 3Y*
- -14.70%
- 5Y*
- -5.85%
- 10Y*
- -16.03%
- ALL TIME*
- -28.33%
BBRE
- 1D
- 0.04%
- 1M
- 0.92%
- 6M
- 17.87%
- YTD
- 19.96%
- 1Y
- 24.66%
- 3Y*
- 12.65%
- 5Y*
- 5.15%
- 10Y*
- —
- ALL TIME*
- 7.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.84M | $3.54M | $5.31M | |
| $366.45K | $363.36K | $364.08K |
SRS vs. BBRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -21.34% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 4.05% |
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 19.96% | 2.09% | 8.24% | 13.85% | -24.68% | 42.99% | -7.55% | 26.06% | -2.41% |
Correlation
The correlation between SRS and BBRE is -0.93, 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. | -0.93 |
Correlation (3Y) Balances recent behavior with more history. | -0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.97 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2018 | -0.95 |
The correlation between SRS and BBRE has been stable across timeframes, ranging from -0.97 to -0.93 - a consistent structural relationship.
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Return for Risk
SRS vs. BBRE — Risk / Return Rank
SRS
BBRE
SRS vs. BBRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and JPMorgan BetaBuilders MSCI US REIT ETF (BBRE). 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.
| SRS | BBRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.42 | ||
| Sortino ratioReturn per unit of downside risk | -3.29 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.31 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | 3.07 | -3.78 |
| Martin ratioReturn relative to average drawdown | -1.46 | 10.12 | -11.58 |
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Drawdowns
SRS vs. BBRE - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than BBRE's maximum drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for SRS and BBRE.
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Drawdown Indicators
| SRS | BBRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -43.61% | -56.35% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -8.07% | -17.66% |
Max Drawdown (3Y)Largest decline over 3 years | -54.73% | -18.92% | -35.81% |
Max Drawdown (5Y)Largest decline over 5 years | -54.73% | -31.15% | -23.58% |
Max Drawdown (10Y)Largest decline over 10 years | -86.75% | — | — |
Current DrawdownCurrent decline from peak | -99.96% | -2.79% | -97.17% |
Average DrawdownAverage peak-to-trough decline | -91.28% | -10.33% | -80.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.47% | 2.44% | +10.03% |
Volatility
SRS vs. BBRE - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 8.59% compared to JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) at 4.56%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than BBRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | BBRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.59% | 4.56% | +4.03% |
Volatility (6M)Calculated over the trailing 6-month period | 22.18% | 10.87% | +11.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.32% | 13.97% | +14.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.81% | 18.83% | +18.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.81% | 22.46% | +18.35% |
SRS vs. BBRE - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than BBRE's 0.11% expense ratio.
Dividends
SRS vs. BBRE - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.67%, more than BBRE's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBRE JPMorgan BetaBuilders MSCI US REIT ETF | 2.58% | 3.24% | 3.19% | 3.68% | 2.62% | 1.70% | 3.17% | 2.19% | 1.96% |
SRS ProShares UltraShort Real Estate | 3.67% | 3.61% | 6.06% | 4.49% | 0.30% | 0.00% | 0.19% | 1.80% | 0.47% |
Frequently Asked Questions
SRS and BBRE have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRS has higher volatility (8.59%) compared to BBRE (4.56%). In terms of maximum drawdown, SRS dropped -99.96% vs BBRE's -43.61%.
On 5-year performance, BBRE leads with 5.15% vs -5.85% for SRS. On fees, BBRE is cheaper at 0.11% per year. On volatility, BBRE has been the lower-risk option at 4.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BBRE has performed better with a 5.15% return vs -5.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBRE is cheaper with a 0.11% expense ratio, compared with 0.95% for SRS.
SRS has the higher dividend yield at 3.67%, compared with 2.58% for BBRE.
SRS tracks Dow Jones U.S. Real Estate Index (-200%), while BBRE tracks MSCI US REIT Index. They also come from different issuers: ProShares and JPMorgan. Their fees differ too: 0.95% for SRS and 0.11% for BBRE.
BBRE currently has the higher Sharpe Ratio (1.78 vs -0.65), 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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