SRS vs. SPMO
SRS (ProShares UltraShort Real Estate) and SPMO (Invesco S&P 500 Momentum ETF) are both exchange-traded funds - SRS is a REIT fund tracking the Dow Jones U.S. Real Estate Index (-200%), while SPMO is a Momentum fund tracking the S&P 500 Momentum Index. Both are passively managed. Over the past 10 years, SRS returned -15.92%/yr vs 20.66%/yr for SPMO. At a correlation of -0.41, they often move in opposite directions. SRS charges 0.95%/yr vs 0.13%/yr for SPMO.
Performance
SRS vs. SPMO - Performance Comparison
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Returns By Period
In the year-to-date period, SRS achieves a -19.62% return, which is significantly lower than SPMO's 26.03% return. Over the past 10 years, SRS has underperformed SPMO with an annualized return of -15.92%, while SPMO has yielded a comparatively higher 20.66% annualized return.
SRS
- 1D
- -0.99%
- 1M
- 1.32%
- 6M
- -18.70%
- YTD
- -19.62%
- 1Y
- -15.15%
- 3Y*
- -11.35%
- 5Y*
- -5.79%
- 10Y*
- -15.92%
SPMO
- 1D
- -2.61%
- 1M
- -1.65%
- 6M
- 24.83%
- YTD
- 26.03%
- 1Y
- 34.61%
- 3Y*
- 40.56%
- 5Y*
- 21.26%
- 10Y*
- 20.66%
SRS vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -19.62% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
SPMO Invesco S&P 500 Momentum ETF | 26.03% | 26.58% | 45.82% | 17.56% | -10.45% | 22.64% | 28.25% | 25.93% | -0.92% | 27.76% |
Correlation
The correlation between SRS and SPMO is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.43 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | -0.41 |
Over the past year, the inverse relationship between SRS and SPMO has weakened: their correlation has moved from -0.41 to -0.04, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SRS vs. SPMO — Risk / Return Rank
SRS
SPMO
SRS vs. SPMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and Invesco S&P 500 Momentum ETF (SPMO). 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 | SPMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.10 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.29 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | 2.74 | -3.39 |
| Martin ratioReturn relative to average drawdown | -1.36 | 9.73 | -11.10 |
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Drawdowns
SRS vs. SPMO - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than SPMO's maximum drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for SRS and SPMO.
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Drawdown Indicators
| SRS | SPMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -30.95% | -69.01% |
Max Drawdown (1Y)Largest decline over 1 year | -23.22% | -12.70% | -10.52% |
Max Drawdown (3Y)Largest decline over 3 years | -53.19% | -20.13% | -33.06% |
Max Drawdown (5Y)Largest decline over 5 years | -53.19% | -22.74% | -30.45% |
Max Drawdown (10Y)Largest decline over 10 years | -86.30% | -30.95% | -55.35% |
Current DrawdownCurrent decline from peak | -99.96% | -7.38% | -92.58% |
Average DrawdownAverage peak-to-trough decline | -91.26% | -4.59% | -86.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.14% | 3.56% | +7.58% |
Volatility
SRS vs. SPMO - Volatility Comparison
The current volatility for ProShares UltraShort Real Estate (SRS) is 10.29%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 12.53%. This indicates that SRS experiences smaller price fluctuations and is considered to be less risky than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | SPMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 12.53% | -2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 22.18% | 19.77% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.77% | 22.23% | +6.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.81% | 20.25% | +17.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.79% | 20.80% | +19.99% |
SRS vs. SPMO - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Dividends
SRS vs. SPMO - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.59%, more than SPMO's 0.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 0.70% | 0.73% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
SRS ProShares UltraShort Real Estate | 3.59% | 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 SPMO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (12.53%) compared to SRS (10.29%). In terms of maximum drawdown, SRS dropped -99.96% vs SPMO's -30.95%.
On 10-year performance, SPMO leads with 20.66% vs -15.92% for SRS. On fees, SPMO is cheaper at 0.13% per year. On volatility, SRS has been the lower-risk option at 10.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPMO has performed better with a 20.66% return vs -15.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMO is cheaper with a 0.13% expense ratio, compared with 0.95% for SRS.
SRS has the higher dividend yield at 3.59%, compared with 0.70% for SPMO.
SRS is categorized as REIT, while SPMO is Momentum. SRS tracks Dow Jones U.S. Real Estate Index (-200%), while SPMO tracks S&P 500 Momentum Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for SRS and 0.13% for SPMO.
SPMO currently has the higher Sharpe Ratio (1.57 vs -0.53), 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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