SRS vs. PFFR
SRS (ProShares UltraShort Real Estate) and PFFR (InfraCap REIT Preferred ETF) are both exchange-traded funds - SRS is a REIT fund tracking the Dow Jones U.S. Real Estate Index (-200%), while PFFR is a Preferred Stock/Convertible Bonds fund tracking the Indxx REIT Preferred Stock Index. Both are passively managed. Over the past 5 years, SRS returned -5.57%/yr vs 1.08%/yr for PFFR. At a correlation of -0.37, they often move in opposite directions. SRS charges 0.95%/yr vs 0.45%/yr for PFFR.
Performance
SRS vs. PFFR - 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 PFFR's 2.80% 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%
PFFR
- 1D
- 0.54%
- 1M
- 1.64%
- 6M
- 1.68%
- YTD
- 2.80%
- 1Y
- 6.07%
- 3Y*
- 8.51%
- 5Y*
- 1.08%
- 10Y*
- —
SRS vs. PFFR - 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% | -17.29% |
PFFR InfraCap REIT Preferred ETF | 2.80% | 5.36% | 7.12% | 21.04% | -23.90% | 6.76% | 0.19% | 20.28% | -7.45% | 7.82% |
Correlation
The correlation between SRS and PFFR is -0.26, 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 | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2017 | -0.37 |
The correlation between SRS and PFFR shifts across timeframes, from -0.38 (5 years) to -0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SRS vs. PFFR — Risk / Return Rank
SRS
PFFR
SRS vs. PFFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and InfraCap REIT Preferred ETF (PFFR). 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 | PFFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.14 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 0.93 | -1.50 |
| Martin ratioReturn relative to average drawdown | -1.19 | 2.10 | -3.29 |
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Drawdowns
SRS vs. PFFR - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than PFFR's maximum drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for SRS and PFFR.
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Drawdown Indicators
| SRS | PFFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -53.02% | -46.94% |
Max Drawdown (1Y)Largest decline over 1 year | -23.22% | -6.57% | -16.65% |
Max Drawdown (3Y)Largest decline over 3 years | -53.19% | -11.16% | -42.03% |
Max Drawdown (5Y)Largest decline over 5 years | -53.19% | -29.80% | -23.39% |
Max Drawdown (10Y)Largest decline over 10 years | -86.30% | — | — |
Current DrawdownCurrent decline from peak | -99.96% | -1.13% | -98.83% |
Average DrawdownAverage peak-to-trough decline | -91.26% | -6.94% | -84.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.22% | 2.90% | +8.32% |
Volatility
SRS vs. PFFR - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 10.31% compared to InfraCap REIT Preferred ETF (PFFR) at 2.26%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | PFFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 2.26% | +8.05% |
Volatility (6M)Calculated over the trailing 6-month period | 22.20% | 6.24% | +15.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.73% | 7.99% | +20.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.81% | 10.52% | +27.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.79% | 20.43% | +20.36% |
SRS vs. PFFR - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than PFFR's 0.45% expense ratio.
Dividends
SRS vs. PFFR - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.56%, less than PFFR's 8.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PFFR InfraCap REIT Preferred ETF | 8.20% | 7.99% | 7.78% | 7.72% | 8.60% | 6.08% | 6.11% | 5.77% | 6.48% | 6.59% |
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% |
Frequently Asked Questions
SRS and PFFR have a correlation of -0.26, 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 PFFR (2.26%). In terms of maximum drawdown, SRS dropped -99.96% vs PFFR's -53.02%.
On 5-year performance, PFFR leads with 1.08% vs -5.57% for SRS. On fees, PFFR is cheaper at 0.45% per year. On volatility, PFFR has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFFR has performed better with a 1.08% return vs -5.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFR is cheaper with a 0.45% expense ratio, compared with 0.95% for SRS.
PFFR has the higher dividend yield at 8.20%, compared with 3.56% for SRS.
SRS is categorized as REIT, while PFFR is Preferred Stock/Convertible Bonds. SRS tracks Dow Jones U.S. Real Estate Index (-200%), while PFFR tracks Indxx REIT Preferred Stock Index. They also come from different issuers: ProShares and Virtus Investment Partners. Their fees differ too: 0.95% for SRS and 0.45% for PFFR.
PFFR currently has the higher Sharpe Ratio (0.76 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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