SRS vs. SCHH
SRS (ProShares UltraShort Real Estate) and SCHH (Schwab US REIT ETF) are both REIT funds - SRS tracks the Dow Jones U.S. Real Estate Index (-200%) while SCHH tracks the Dow Jones Equity All REIT Capped Index. Both are passively managed. Over the past 10 years, SRS returned -16.94%/yr vs 4.31%/yr for SCHH. At a correlation of -0.98, they often move in opposite directions. SRS charges 0.95%/yr vs 0.07%/yr for SCHH.
Performance
SRS vs. SCHH - Performance Comparison
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Returns By Period
In the year-to-date period, SRS achieves a -19.38% return, which is significantly lower than SCHH's 15.79% return. Over the past 10 years, SRS has underperformed SCHH with an annualized return of -16.94%, while SCHH has yielded a comparatively higher 4.31% annualized return.
SRS
- 1D
- -0.42%
- 1M
- -1.10%
- YTD
- -19.38%
- 6M
- -18.89%
- 1Y
- -15.96%
- 3Y*
- -14.40%
- 5Y*
- -6.63%
- 10Y*
- -16.94%
SCHH
- 1D
- 0.25%
- 1M
- 0.92%
- YTD
- 15.79%
- 6M
- 15.57%
- 1Y
- 17.26%
- 3Y*
- 11.36%
- 5Y*
- 3.59%
- 10Y*
- 4.31%
SRS vs. SCHH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -19.38% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
SCHH Schwab US REIT ETF | 15.79% | 2.20% | 4.99% | 11.18% | -24.99% | 41.07% | -14.81% | 22.85% | -4.26% | 3.68% |
Correlation
The correlation between SRS and SCHH is -0.97, 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 | -0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.98 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 2011 | -0.98 |
The correlation between SRS and SCHH has been stable across timeframes, ranging from -0.99 to -0.97 - a consistent structural relationship.
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Return for Risk
SRS vs. SCHH — Risk / Return Rank
SRS
SCHH
SRS vs. SCHH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and Schwab US REIT ETF (SCHH). 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 | SCHH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.23 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 2.09 | -2.81 |
| Martin ratioReturn relative to average drawdown | -1.55 | 6.60 | -8.16 |
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Drawdowns
SRS vs. SCHH - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than SCHH's maximum drawdown of -44.22%. Use the drawdown chart below to compare losses from any high point for SRS and SCHH.
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Drawdown Indicators
| SRS | SCHH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -44.22% | -55.74% |
Max Drawdown (1Y)Largest decline over 1 year | -22.21% | -8.28% | -13.93% |
Max Drawdown (3Y)Largest decline over 3 years | -52.58% | -17.76% | -34.82% |
Max Drawdown (5Y)Largest decline over 5 years | -52.58% | -33.28% | -19.30% |
Max Drawdown (10Y)Largest decline over 10 years | -86.12% | -44.22% | -41.90% |
Current DrawdownCurrent decline from peak | -99.96% | -0.46% | -99.50% |
Average DrawdownAverage peak-to-trough decline | -91.24% | -9.42% | -81.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.31% | 2.62% | +7.69% |
Volatility
SRS vs. SCHH - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 10.71% compared to Schwab US REIT ETF (SCHH) at 5.34%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than SCHH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | SCHH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.71% | 5.34% | +5.37% |
Volatility (6M)Calculated over the trailing 6-month period | 21.26% | 10.40% | +10.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.37% | 13.82% | +14.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.73% | 18.76% | +18.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.76% | 21.01% | +19.75% |
SRS vs. SCHH - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than SCHH's 0.07% expense ratio.
Dividends
SRS vs. SCHH - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.58%, more than SCHH's 2.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SCHH Schwab US REIT ETF | 2.76% | 3.04% | 3.22% | 3.24% | 2.55% | 1.50% | 2.86% | 2.86% | 3.64% | 2.22% | 2.81% | 2.48% |
SRS ProShares UltraShort Real Estate | 3.58% | 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 SCHH 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.
SRS has higher volatility (10.71%) compared to SCHH (5.34%). In terms of maximum drawdown, SRS dropped -99.96% vs SCHH's -44.22%.
On 10-year performance, SCHH leads with 4.31% vs -16.94% for SRS. On fees, SCHH is cheaper at 0.07% per year. On volatility, SCHH has been the lower-risk option at 5.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHH has performed better with a 4.31% return vs -16.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHH is cheaper with a 0.07% expense ratio, compared with 0.95% for SRS.
SRS has the higher dividend yield at 3.58%, compared with 2.76% for SCHH.
SRS tracks Dow Jones U.S. Real Estate Index (-200%), while SCHH tracks Dow Jones Equity All REIT Capped Index. They also come from different issuers: ProShares and Charles Schwab. Their fees differ too: 0.95% for SRS and 0.07% for SCHH.
SCHH currently has the higher Sharpe Ratio (1.27 vs -0.57), 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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