SRS vs. GQRE
SRS (ProShares UltraShort Real Estate) and GQRE (FlexShares Global Quality Real Estate Index Fund) are both REIT funds - SRS tracks the Dow Jones U.S. Real Estate Index (-200%) while GQRE tracks the Northern Trust Global Quality Real Estate (NR). Both are passively managed. Over the past 10 years, SRS returned -16.94%/yr vs 4.14%/yr for GQRE. At a correlation of -0.88, they often move in opposite directions. SRS charges 0.95%/yr vs 0.45%/yr for GQRE.
Performance
SRS vs. GQRE - Performance Comparison
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Returns By Period
In the year-to-date period, SRS achieves a -19.64% return, which is significantly lower than GQRE's 9.74% return. Over the past 10 years, SRS has underperformed GQRE with an annualized return of -16.94%, while GQRE has yielded a comparatively higher 4.14% annualized return.
SRS
- 1D
- -0.10%
- 1M
- -1.96%
- YTD
- -19.64%
- 6M
- -19.15%
- 1Y
- -11.91%
- 3Y*
- -15.72%
- 5Y*
- -6.69%
- 10Y*
- -16.94%
GQRE
- 1D
- 0.38%
- 1M
- 0.22%
- YTD
- 9.74%
- 6M
- 9.63%
- 1Y
- 11.61%
- 3Y*
- 12.08%
- 5Y*
- 2.31%
- 10Y*
- 4.14%
SRS vs. GQRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -19.64% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
GQRE FlexShares Global Quality Real Estate Index Fund | 9.74% | 8.27% | 6.09% | 9.21% | -27.22% | 32.01% | -9.17% | 21.84% | -8.88% | 13.60% |
Correlation
The correlation between SRS and GQRE is -0.90, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013 | -0.88 |
The correlation between SRS and GQRE has been stable across timeframes, ranging from -0.93 to -0.88 - a consistent structural relationship.
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Return for Risk
SRS vs. GQRE — Risk / Return Rank
SRS
GQRE
SRS vs. GQRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and FlexShares Global Quality Real Estate Index Fund (GQRE). 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 | GQRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.18 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 1.15 | -1.69 |
| Martin ratioReturn relative to average drawdown | -1.17 | 4.32 | -5.49 |
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Drawdowns
SRS vs. GQRE - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than GQRE's maximum drawdown of -41.87%. Use the drawdown chart below to compare losses from any high point for SRS and GQRE.
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Drawdown Indicators
| SRS | GQRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -41.87% | -58.09% |
Max Drawdown (1Y)Largest decline over 1 year | -22.21% | -10.15% | -12.06% |
Max Drawdown (3Y)Largest decline over 3 years | -52.58% | -16.17% | -36.41% |
Max Drawdown (5Y)Largest decline over 5 years | -52.58% | -35.08% | -17.50% |
Max Drawdown (10Y)Largest decline over 10 years | -86.12% | -41.87% | -44.25% |
Current DrawdownCurrent decline from peak | -99.96% | -1.27% | -98.69% |
Average DrawdownAverage peak-to-trough decline | -91.23% | -9.20% | -82.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.23% | 2.70% | +7.53% |
Volatility
SRS vs. GQRE - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 10.69% compared to FlexShares Global Quality Real Estate Index Fund (GQRE) at 3.71%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than GQRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | GQRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 3.71% | +6.98% |
Volatility (6M)Calculated over the trailing 6-month period | 21.28% | 9.20% | +12.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.37% | 11.84% | +16.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.73% | 16.46% | +21.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 17.64% | +23.13% |
SRS vs. GQRE - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than GQRE's 0.45% expense ratio.
Dividends
SRS vs. GQRE - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.92%, less than GQRE's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GQRE FlexShares Global Quality Real Estate Index Fund | 4.28% | 4.75% | 3.77% | 2.91% | 2.56% | 2.36% | 2.05% | 4.29% | 3.22% | 1.97% | 4.16% | 2.32% |
SRS ProShares UltraShort Real Estate | 3.92% | 3.61% | 6.06% | 4.49% | 0.30% | 0.00% | 0.19% | 1.80% | 0.47% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SRS and GQRE have a correlation of -0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRS has higher volatility (10.69%) compared to GQRE (3.71%). In terms of maximum drawdown, SRS dropped -99.96% vs GQRE's -41.87%.
On 10-year performance, GQRE leads with 4.14% vs -16.94% for SRS. On fees, GQRE is cheaper at 0.45% per year. On volatility, GQRE has been the lower-risk option at 3.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GQRE has performed better with a 4.14% return vs -16.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GQRE is cheaper with a 0.45% expense ratio, compared with 0.95% for SRS.
GQRE has the higher dividend yield at 4.28%, compared with 3.92% for SRS.
SRS tracks Dow Jones U.S. Real Estate Index (-200%), while GQRE tracks Northern Trust Global Quality Real Estate (NR). They also come from different issuers: ProShares and Northern Trust. Their fees differ too: 0.95% for SRS and 0.45% for GQRE.
GQRE currently has the higher Sharpe Ratio (0.98 vs -0.42), 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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