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 -16.93%/yr vs 21.03%/yr for SPMO. At a correlation of -0.42, 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 -19.56% return, which is significantly lower than SPMO's 29.91% return. Over the past 10 years, SRS has underperformed SPMO with an annualized return of -16.93%, while SPMO has yielded a comparatively higher 21.03% annualized return.
SRS
- 1D
- -2.78%
- 1M
- -1.86%
- YTD
- -19.56%
- 6M
- -20.11%
- 1Y
- -12.62%
- 3Y*
- -15.69%
- 5Y*
- -6.99%
- 10Y*
- -16.93%
SPMO
- 1D
- -4.53%
- 1M
- 6.65%
- YTD
- 29.91%
- 6M
- 28.13%
- 1Y
- 43.55%
- 3Y*
- 42.47%
- 5Y*
- 22.89%
- 10Y*
- 21.03%
SRS vs. SPMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -19.56% | -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 | 29.91% | 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 -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.43 |
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 | -0.42 |
Over the past year, the inverse relationship between SRS and SPMO has weakened: their correlation has moved from -0.42 to -0.11, 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 | -2.58 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.39 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 3.45 | -4.02 |
| Martin ratioReturn relative to average drawdown | -1.25 | 12.97 | -14.22 |
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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 | -22.21% | -12.70% | -9.51% |
Max Drawdown (3Y)Largest decline over 3 years | -52.58% | -20.13% | -32.45% |
Max Drawdown (5Y)Largest decline over 5 years | -52.58% | -22.74% | -29.84% |
Max Drawdown (10Y)Largest decline over 10 years | -86.12% | -30.95% | -55.17% |
Current DrawdownCurrent decline from peak | -99.96% | -4.53% | -95.43% |
Average DrawdownAverage peak-to-trough decline | -91.23% | -4.59% | -86.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.14% | 3.37% | +6.77% |
Volatility
SRS vs. SPMO - Volatility Comparison
The current volatility for ProShares UltraShort Real Estate (SRS) is 10.70%, while Invesco S&P 500 Momentum ETF (SPMO) has a volatility of 11.75%. 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 | 10.70% | 11.75% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 21.31% | 17.78% | +3.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.53% | 20.55% | +7.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.74% | 19.88% | +17.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 20.60% | +20.17% |
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 3.92%, more than SPMO's 0.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMO Invesco S&P 500 Momentum ETF | 0.68% | 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 | 3.92% | 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 -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMO has higher volatility (11.75%) compared to SRS (10.70%). In terms of maximum drawdown, SRS dropped -99.96% vs SPMO's -30.95%.
On 10-year performance, SPMO leads with 21.03% vs -16.93% for SRS. On fees, SPMO is cheaper at 0.13% per year. On volatility, SRS has been the lower-risk option at 10.70%. 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 21.03% return vs -16.93%. 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 3.92%, compared with 0.68% 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 (2.13 vs -0.45), 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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