SRS vs. NETL
SRS (ProShares UltraShort Real Estate) and NETL (NETLease Corporate Real Estate ETF) are both REIT funds - SRS tracks the Dow Jones U.S. Real Estate Index (-200%) while NETL tracks the Fundamental Income Net Lease Real Estate Index. Both are passively managed. Over the past 5 years, SRS returned -5.85%/yr vs 1.92%/yr for NETL. Their -0.86 correlation means they have often moved in opposite directions in the past. SRS charges 0.95%/yr vs 0.60%/yr for NETL.
Performance
SRS vs. NETL - 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 NETL's 17.15% 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%
NETL
- 1D
- -0.42%
- 1M
- -0.31%
- 6M
- 11.70%
- YTD
- 17.15%
- 1Y
- 19.03%
- 3Y*
- 9.35%
- 5Y*
- 1.92%
- 10Y*
- —
- ALL TIME*
- 5.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $204.10K | $229.13K | $300.92K | |
| $366.45K | $363.36K | $364.08K |
SRS vs. NETL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -21.34% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -17.87% |
NETL NETLease Corporate Real Estate ETF | 17.15% | 6.05% | -1.08% | 2.69% | -16.16% | 27.36% | -0.73% | 12.04% |
Correlation
The correlation between SRS and NETL is -0.77, 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. | -0.77 |
Correlation (3Y) Balances recent behavior with more history. | -0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.85 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019 | -0.86 |
The correlation between SRS and NETL has been stable across timeframes, ranging from -0.86 to -0.77 - a consistent structural relationship.
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Return for Risk
SRS vs. NETL — Risk / Return Rank
SRS
NETL
SRS vs. NETL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and NETLease Corporate Real Estate ETF (NETL). 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 | NETL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.24 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | 2.09 | -2.79 |
| Martin ratioReturn relative to average drawdown | -1.46 | 6.71 | -8.16 |
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Drawdowns
SRS vs. NETL - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than NETL's maximum drawdown of -51.48%. Use the drawdown chart below to compare losses from any high point for SRS and NETL.
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Drawdown Indicators
| SRS | NETL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -51.48% | -48.48% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -9.16% | -16.57% |
Max Drawdown (3Y)Largest decline over 3 years | -54.73% | -17.43% | -37.30% |
Max Drawdown (5Y)Largest decline over 5 years | -54.73% | -30.74% | -23.99% |
Max Drawdown (10Y)Largest decline over 10 years | -86.75% | — | — |
Current DrawdownCurrent decline from peak | -99.96% | -3.94% | -96.02% |
Average DrawdownAverage peak-to-trough decline | -91.28% | -11.42% | -79.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.47% | 2.84% | +9.63% |
Volatility
SRS vs. NETL - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 8.59% compared to NETLease Corporate Real Estate ETF (NETL) at 5.24%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than NETL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | NETL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.59% | 5.24% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 22.18% | 11.28% | +10.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.32% | 14.30% | +14.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.81% | 18.03% | +19.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.81% | 25.77% | +15.04% |
SRS vs. NETL - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than NETL's 0.60% expense ratio.
Dividends
SRS vs. NETL - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.67%, less than NETL's 4.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NETL NETLease Corporate Real Estate ETF | 4.63% | 5.12% | 5.08% | 4.57% | 4.47% | 4.03% | 3.98% | 2.52% | 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 NETL have a correlation of -0.77, 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 NETL (5.24%). In terms of maximum drawdown, SRS dropped -99.96% vs NETL's -51.48%.
On 5-year performance, NETL leads with 1.92% vs -5.85% for SRS. On fees, NETL is cheaper at 0.60% per year. On volatility, NETL has been the lower-risk option at 5.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NETL has performed better with a 1.92% return vs -5.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NETL is cheaper with a 0.60% expense ratio, compared with 0.95% for SRS.
NETL has the higher dividend yield at 4.63%, compared with 3.67% for SRS.
SRS tracks Dow Jones U.S. Real Estate Index (-200%), while NETL tracks Fundamental Income Net Lease Real Estate Index. They also come from different issuers: ProShares and Exchange Traded Concepts. Their fees differ too: 0.95% for SRS and 0.60% for NETL.
NETL currently has the higher Sharpe Ratio (1.34 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.
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