SRS vs. JPRE

Last updated Aug 4, 2026

SRS (ProShares UltraShort Real Estate) and JPRE (JPMorgan Realty Income ETF) are both REIT funds. SRS is passively managed, while JPRE is actively managed. Over the past 3 years, SRS returned -14.70%/yr vs 11.09%/yr for JPRE. Their -0.98 correlation means they have often moved in opposite directions in the past. SRS charges 0.95%/yr vs 0.50%/yr for JPRE.

Performance

SRS vs. JPRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Real Estate (SRS) and JPMorgan Realty Income ETF (JPRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SRS achieves a -21.34% return, which is significantly lower than JPRE's 15.73% 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%

JPRE

• 1D: 0.04%
• 1M: 0.85%
• 6M: 14.14%
• YTD: 15.73%
• 1Y: 16.78%
• 3Y*: 11.09%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JPRE JPMorgan Realty Income ETF	$1.12M	$1.14M	$1.21M
SRS ProShares UltraShort Real Estate	$366.45K	$363.36K	$364.08K

SRS vs. JPRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SRS ProShares UltraShort Real Estate	-21.34%	-1.45%	-3.55%	-18.78%	10.66%
JPRE JPMorgan Realty Income ETF	15.73%	1.36%	7.43%	13.41%	-9.60%

Correlation

The correlation between SRS and JPRE is -0.97, 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.	-0.97
Correlation (3Y) Balances recent behavior with more history.	-0.98
Correlation (All Time) Calculated using the full available price history since May 23, 2022	-0.98

The correlation between SRS and JPRE has been stable across timeframes, ranging from -0.98 to -0.97 - a consistent structural relationship.

Return for Risk

SRS vs. JPRE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SRS

SRS Risk / Return Rank: 3
SRS Sharpe Ratio Rank: 4
SRS Sortino Ratio Rank: 4
SRS Omega Ratio Rank: 4
SRS Calmar Ratio Rank: 4
SRS Martin Ratio Rank: 1

JPRE

JPRE Risk / Return Rank: 51
JPRE Sharpe Ratio Rank: 47
JPRE Sortino Ratio Rank: 46
JPRE Omega Ratio Rank: 45
JPRE Calmar Ratio Rank: 59
JPRE Martin Ratio Rank: 56

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SRS vs. JPRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and JPMorgan Realty Income ETF (JPRE). 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	JPRE	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	1.22	-1.87
Sortino ratio: Return per unit of downside risk	-0.81	1.74	-2.55
Omega ratio: Gain probability vs. loss probability	0.91	1.22	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.71	2.19	-2.90
Martin ratio: Return relative to average drawdown	-1.46	6.97	-8.43

SRS vs. JPRE - Sharpe Ratio Comparison

The current SRS Sharpe Ratio is -0.65, which is lower than the JPRE Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of SRS and JPRE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SRS vs. JPRE - Drawdown Comparison

The maximum SRS drawdown since its inception was -99.96%, which is greater than JPRE's maximum drawdown of -23.84%. Use the drawdown chart below to compare losses from any high point for SRS and JPRE.

Drawdown Indicators

	SRS	JPRE	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-23.84%	-76.12%
Max Drawdown (1Y) Largest decline over 1 year	-25.73%	-7.70%	-18.03%
Max Drawdown (3Y) Largest decline over 3 years	-54.73%	-16.27%	-38.46%
Max Drawdown (5Y) Largest decline over 5 years	-54.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-86.75%	—	—
Current Drawdown Current decline from peak	-99.96%	-2.56%	-97.40%
Average Drawdown Average peak-to-trough decline	-91.28%	-7.87%	-83.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.47%	2.41%	+10.06%

Volatility

SRS vs. JPRE - Volatility Comparison

ProShares UltraShort Real Estate (SRS) has a higher volatility of 8.59% compared to JPMorgan Realty Income ETF (JPRE) at 4.41%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than JPRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SRS	JPRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.59%	4.41%	+4.18%
Volatility (6M) Calculated over the trailing 6-month period	22.18%	10.86%	+11.32%
Volatility (1Y) Calculated over the trailing 1-year period	28.32%	13.79%	+14.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.81%	18.24%	+19.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.81%	18.24%	+22.57%

SRS vs. JPRE - Expense Ratio Comparison

SRS has a 0.95% expense ratio, which is higher than JPRE's 0.50% expense ratio.

Dividends

SRS vs. JPRE - Dividend Comparison

SRS's dividend yield for the trailing twelve months is around 3.67%, more than JPRE's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JPRE JPMorgan Realty Income ETF	2.19%	2.62%	2.21%	3.26%	10.60%	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

Can I hold both SRS and JPRE in my portfolio?

SRS and JPRE have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SRS or JPRE?

SRS has higher volatility (8.59%) compared to JPRE (4.41%). In terms of maximum drawdown, SRS dropped -99.96% vs JPRE's -23.84%.

Which ETF is better, SRS or JPRE?

On 3-year performance, JPRE leads with 11.09% vs -14.70% for SRS. On fees, JPRE is cheaper at 0.50% per year. On volatility, JPRE has been the lower-risk option at 4.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SRS or JPRE?

Over the 3-year period, JPRE has performed better with a 11.09% return vs -14.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SRS or JPRE?

JPRE is cheaper with a 0.50% expense ratio, compared with 0.95% for SRS.

Which ETF pays a higher dividend yield, SRS or JPRE?

SRS has the higher dividend yield at 3.67%, compared with 2.19% for JPRE.

What is the main difference between SRS and JPRE?

They also come from different issuers: ProShares and JPMorgan. Their fees differ too: 0.95% for SRS and 0.50% for JPRE.

Which has better risk-adjusted returns?

JPRE currently has the higher Sharpe Ratio (1.22 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.