SRS vs. IYRI
SRS (ProShares UltraShort Real Estate) and IYRI (NEOS Real Estate High Income ETF) are both exchange-traded funds - SRS is a REIT fund tracking the Dow Jones U.S. Real Estate Index (-200%), while IYRI is a Derivative Income fund actively managed by Neos. SRS is passively managed, while IYRI is actively managed. Over the past year, SRS returned -18.17% vs 12.47% for IYRI. Their -0.94 correlation means they have often moved in opposite directions in the past. SRS charges 0.95%/yr vs 0.68%/yr for IYRI.
Performance
SRS vs. IYRI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SRS achieves a -21.34% return, which is significantly lower than IYRI's 9.58% 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%
IYRI
- 1D
- 0.12%
- 1M
- 1.35%
- 6M
- 8.12%
- YTD
- 9.58%
- 1Y
- 12.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.29M | $3.49M | $3.76M | |
| $366.45K | $363.36K | $364.08K |
SRS vs. IYRI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SRS ProShares UltraShort Real Estate | -21.34% | -4.72% |
IYRI NEOS Real Estate High Income ETF | 9.58% | 6.99% |
Correlation
The correlation between SRS and IYRI 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 15, 2025 | -0.94 |
The correlation between SRS and IYRI has been stable across timeframes, ranging from -0.94 to -0.94 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SRS vs. IYRI — Risk / Return Rank
SRS
IYRI
SRS vs. IYRI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and NEOS Real Estate High Income ETF (IYRI). 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 | IYRI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.48 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.21 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | 1.66 | -2.37 |
| Martin ratioReturn relative to average drawdown | -1.46 | 6.07 | -7.53 |
Loading charts...
Drawdowns
SRS vs. IYRI - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than IYRI's maximum drawdown of -12.12%. Use the drawdown chart below to compare losses from any high point for SRS and IYRI.
Loading charts...
Drawdown Indicators
| SRS | IYRI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -12.12% | -87.84% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -7.53% | -18.20% |
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% | -0.71% | -99.25% |
Average DrawdownAverage peak-to-trough decline | -91.28% | -1.60% | -89.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.47% | 2.06% | +10.41% |
Volatility
SRS vs. IYRI - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 8.59% compared to NEOS Real Estate High Income ETF (IYRI) at 2.86%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than IYRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SRS | IYRI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.59% | 2.86% | +5.73% |
Volatility (6M)Calculated over the trailing 6-month period | 22.18% | 8.17% | +14.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.32% | 10.71% | +17.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.81% | 13.00% | +24.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.81% | 13.00% | +27.81% |
SRS vs. IYRI - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than IYRI's 0.68% expense ratio.
Dividends
SRS vs. IYRI - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.67%, less than IYRI's 10.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IYRI NEOS Real Estate High Income ETF | 10.83% | 11.72% | 0.00% | 0.00% | 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 IYRI 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.
SRS has higher volatility (8.59%) compared to IYRI (2.86%). In terms of maximum drawdown, SRS dropped -99.96% vs IYRI's -12.12%.
On 1-year performance, IYRI leads with 12.47% vs -18.17% for SRS. On fees, IYRI is cheaper at 0.68% per year. On volatility, IYRI has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IYRI has performed better with a 12.47% return vs -18.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYRI is cheaper with a 0.68% expense ratio, compared with 0.95% for SRS.
IYRI has the higher dividend yield at 10.83%, compared with 3.67% for SRS.
SRS is categorized as REIT, while IYRI is Derivative Income. They also come from different issuers: ProShares and Neos. Their fees differ too: 0.95% for SRS and 0.68% for IYRI.
IYRI currently has the higher Sharpe Ratio (1.17 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.
Find the right allocation for SRS and IYRI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer