SRS vs. DESK
SRS (ProShares UltraShort Real Estate) and DESK (Vaneck Office And Commercial REIT ETF) are both REIT funds - SRS tracks the Dow Jones U.S. Real Estate Index (-200%) while DESK tracks the MarketVector US Listed Office And Commercial REITS Index - Benchmark TR Gross. Both are passively managed. Over the past year, SRS returned -16.87% vs 14.92% for DESK. Their -0.70 correlation means they have often moved in opposite directions in the past. SRS charges 0.95%/yr vs 0.50%/yr for DESK.
Performance
SRS vs. DESK - 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 DESK's 18.83% return.
SRS
- 1D
- 0.00%
- 1M
- -2.09%
- 6M
- -19.79%
- YTD
- -21.34%
- 1Y
- -16.87%
- 3Y*
- -14.70%
- 5Y*
- -5.49%
- 10Y*
- -16.03%
- ALL TIME*
- -28.33%
DESK
- 1D
- -0.21%
- 1M
- -0.82%
- 6M
- 20.14%
- YTD
- 18.83%
- 1Y
- 14.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.89M | $1.80M | $684.75K | |
| $362.70K | $354.44K | $356.41K |
SRS vs. DESK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -21.34% | -1.45% | -3.55% | -21.18% |
DESK Vaneck Office And Commercial REIT ETF | 18.83% | -10.42% | 16.01% | 13.17% |
Correlation
The correlation between SRS and DESK is -0.61, 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. | -0.61 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023 | -0.70 |
The correlation between SRS and DESK has been stable across timeframes, ranging from -0.70 to -0.61 - a consistent structural relationship.
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Return for Risk
SRS vs. DESK — Risk / Return Rank
SRS
DESK
SRS vs. DESK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and Vaneck Office And Commercial REIT ETF (DESK). 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 | DESK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.13 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 0.60 | -1.26 |
| Martin ratioReturn relative to average drawdown | -1.35 | 1.27 | -2.62 |
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Drawdowns
SRS vs. DESK - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than DESK's maximum drawdown of -28.65%. Use the drawdown chart below to compare losses from any high point for SRS and DESK.
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Drawdown Indicators
| SRS | DESK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -28.65% | -71.31% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -25.09% | -0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -54.73% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -54.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -86.75% | — | — |
Current DrawdownCurrent decline from peak | -99.96% | -2.73% | -97.23% |
Average DrawdownAverage peak-to-trough decline | -91.28% | -10.98% | -80.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.55% | 11.78% | +0.77% |
Volatility
SRS vs. DESK - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 8.38% compared to Vaneck Office And Commercial REIT ETF (DESK) at 5.74%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than DESK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | DESK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.38% | 5.74% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 22.06% | 15.78% | +6.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.26% | 20.45% | +7.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.81% | 25.65% | +12.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.81% | 25.65% | +15.16% |
SRS vs. DESK - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than DESK's 0.50% expense ratio.
Dividends
SRS vs. DESK - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.67%, less than DESK's 4.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DESK Vaneck Office And Commercial REIT ETF | 4.65% | 5.15% | 3.78% | 1.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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 DESK have a correlation of -0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRS has higher volatility (8.38%) compared to DESK (5.74%). In terms of maximum drawdown, SRS dropped -99.96% vs DESK's -28.65%.
On 1-year performance, DESK leads with 14.92% vs -16.87% for SRS. On fees, DESK is cheaper at 0.50% per year. On volatility, DESK has been the lower-risk option at 5.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DESK has performed better with a 14.92% return vs -16.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DESK is cheaper with a 0.50% expense ratio, compared with 0.95% for SRS.
DESK has the higher dividend yield at 4.65%, compared with 3.67% for SRS.
SRS tracks Dow Jones U.S. Real Estate Index (-200%), while DESK tracks MarketVector US Listed Office And Commercial REITS Index - Benchmark TR Gross. They also come from different issuers: ProShares and VanEck. Their fees differ too: 0.95% for SRS and 0.50% for DESK.
DESK currently has the higher Sharpe Ratio (0.73 vs -0.60), 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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