SRS vs. RWX
SRS (ProShares UltraShort Real Estate) and RWX (SPDR DJ Wilshire International Real Estate ETF) are both REIT funds - SRS tracks the Dow Jones U.S. Real Estate Index (-200%) while RWX tracks the Dow Jones Global ex-U.S. Real Estate Securities Index. Both are passively managed. Over the past 10 years, SRS returned -15.86%/yr vs 0.75%/yr for RWX. At a correlation of -0.61, they often move in opposite directions. SRS charges 0.95%/yr vs 0.59%/yr for RWX.
Performance
SRS vs. RWX - 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 RWX's -0.35% return. Over the past 10 years, SRS has underperformed RWX with an annualized return of -15.86%, while RWX has yielded a comparatively higher 0.75% 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%
RWX
- 1D
- 0.74%
- 1M
- 0.17%
- 6M
- -1.85%
- YTD
- -0.35%
- 1Y
- 6.11%
- 3Y*
- 5.47%
- 5Y*
- -2.00%
- 10Y*
- 0.75%
SRS vs. RWX - 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% |
RWX SPDR DJ Wilshire International Real Estate ETF | -0.35% | 26.24% | -12.15% | 6.25% | -21.84% | 9.34% | -9.03% | 19.88% | -8.25% | 15.50% |
Correlation
The correlation between SRS and RWX is -0.52, 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 | -0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.61 |
The correlation between SRS and RWX shifts across timeframes, from -0.62 (5 years) to -0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SRS vs. RWX — Risk / Return Rank
SRS
RWX
SRS vs. RWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and SPDR DJ Wilshire International Real Estate ETF (RWX). 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 | RWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.09 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 0.45 | -1.03 |
| Martin ratioReturn relative to average drawdown | -1.19 | 1.10 | -2.29 |
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Drawdowns
SRS vs. RWX - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than RWX's maximum drawdown of -73.62%. Use the drawdown chart below to compare losses from any high point for SRS and RWX.
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Drawdown Indicators
| SRS | RWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -73.62% | -26.34% |
Max Drawdown (1Y)Largest decline over 1 year | -23.22% | -13.58% | -9.64% |
Max Drawdown (3Y)Largest decline over 3 years | -53.19% | -19.05% | -34.14% |
Max Drawdown (5Y)Largest decline over 5 years | -53.19% | -35.91% | -17.28% |
Max Drawdown (10Y)Largest decline over 10 years | -86.30% | -43.37% | -42.93% |
Current DrawdownCurrent decline from peak | -99.96% | -12.12% | -87.84% |
Average DrawdownAverage peak-to-trough decline | -91.26% | -20.26% | -71.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.22% | 5.57% | +5.65% |
Volatility
SRS vs. RWX - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 10.31% compared to SPDR DJ Wilshire International Real Estate ETF (RWX) at 3.72%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than RWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | RWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 3.72% | +6.59% |
Volatility (6M)Calculated over the trailing 6-month period | 22.20% | 11.50% | +10.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.73% | 13.65% | +15.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.81% | 15.85% | +21.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.79% | 16.24% | +24.55% |
SRS vs. RWX - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than RWX's 0.59% expense ratio.
Dividends
SRS vs. RWX - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.56%, less than RWX's 3.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RWX SPDR DJ Wilshire International Real Estate ETF | 3.93% | 3.65% | 4.32% | 3.90% | 4.05% | 4.62% | 2.92% | 8.94% | 5.28% | 2.77% | 8.74% | 2.94% |
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 RWX have a correlation of -0.52, 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 RWX (3.72%). In terms of maximum drawdown, SRS dropped -99.96% vs RWX's -73.62%.
On 10-year performance, RWX leads with 0.75% vs -15.86% for SRS. On fees, RWX is cheaper at 0.59% per year. On volatility, RWX has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RWX has performed better with a 0.75% return vs -15.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RWX is cheaper with a 0.59% expense ratio, compared with 0.95% for SRS.
RWX has the higher dividend yield at 3.93%, compared with 3.56% for SRS.
SRS tracks Dow Jones U.S. Real Estate Index (-200%), while RWX tracks Dow Jones Global ex-U.S. Real Estate Securities Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for SRS and 0.59% for RWX.
RWX currently has the higher Sharpe Ratio (0.45 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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