SRS vs. KBWY
SRS (ProShares UltraShort Real Estate) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both REIT funds - SRS tracks the Dow Jones U.S. Real Estate Index (-200%) while KBWY tracks the KBW Nasdaq Premium Yield Equity REIT Index. Both are passively managed. Over the past 10 years, SRS returned -15.86%/yr vs 0.99%/yr for KBWY. At a correlation of -0.81, they often move in opposite directions. SRS charges 0.95%/yr vs 0.35%/yr for KBWY.
Performance
SRS vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, SRS achieves a -19.00% return, which is significantly lower than KBWY's 26.20% return. Over the past 10 years, SRS has underperformed KBWY with an annualized return of -15.86%, while KBWY has yielded a comparatively higher 0.99% annualized return.
SRS
- 1D
- 0.77%
- 1M
- 2.10%
- 6M
- -16.79%
- YTD
- -19.00%
- 1Y
- -13.31%
- 3Y*
- -11.13%
- 5Y*
- -5.57%
- 10Y*
- -15.86%
KBWY
- 1D
- 0.38%
- 1M
- 2.04%
- 6M
- 20.44%
- YTD
- 26.20%
- 1Y
- 25.16%
- 3Y*
- 8.47%
- 5Y*
- 3.25%
- 10Y*
- 0.99%
SRS vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -19.00% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 26.20% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between SRS and KBWY is -0.71, 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 | -0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.79 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2010 | -0.81 |
The correlation between SRS and KBWY shifts across timeframes, from -0.81 (all time) to -0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SRS vs. KBWY — Risk / Return Rank
SRS
KBWY
SRS vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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 | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.73 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.26 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 2.73 | -3.31 |
| Martin ratioReturn relative to average drawdown | -1.19 | 6.62 | -7.81 |
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Drawdowns
SRS vs. KBWY - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than KBWY's maximum drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for SRS and KBWY.
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Drawdown Indicators
| SRS | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -57.68% | -42.28% |
Max Drawdown (1Y)Largest decline over 1 year | -23.22% | -9.24% | -13.98% |
Max Drawdown (3Y)Largest decline over 3 years | -53.19% | -29.93% | -23.26% |
Max Drawdown (5Y)Largest decline over 5 years | -53.19% | -32.29% | -20.90% |
Max Drawdown (10Y)Largest decline over 10 years | -86.30% | -57.68% | -28.62% |
Current DrawdownCurrent decline from peak | -99.96% | -3.86% | -96.10% |
Average DrawdownAverage peak-to-trough decline | -91.26% | -14.12% | -77.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.22% | 3.89% | +7.33% |
Volatility
SRS vs. KBWY - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 10.31% compared to Invesco KBW Premium Yield Equity REIT ETF (KBWY) at 4.72%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 4.72% | +5.59% |
Volatility (6M)Calculated over the trailing 6-month period | 22.20% | 12.20% | +10.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.73% | 16.64% | +12.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.81% | 21.60% | +16.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.79% | 27.06% | +13.73% |
SRS vs. KBWY - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than KBWY's 0.35% expense ratio.
Dividends
SRS vs. KBWY - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.56%, less than KBWY's 8.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.04% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
SRS ProShares UltraShort Real Estate | 3.56% | 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 KBWY have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRS has higher volatility (10.31%) compared to KBWY (4.72%). In terms of maximum drawdown, SRS dropped -99.96% vs KBWY's -57.68%.
On 10-year performance, KBWY leads with 0.99% vs -15.86% for SRS. On fees, KBWY is cheaper at 0.35% per year. On volatility, KBWY has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, KBWY has performed better with a 0.99% return vs -15.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY is cheaper with a 0.35% expense ratio, compared with 0.95% for SRS.
KBWY has the higher dividend yield at 8.04%, compared with 3.56% for SRS.
SRS tracks Dow Jones U.S. Real Estate Index (-200%), while KBWY tracks KBW Nasdaq Premium Yield Equity REIT Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for SRS and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.52 vs -0.47), 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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