SRS vs. UPRO
Compare and contrast key facts about ProShares UltraShort Real Estate (SRS) and ProShares UltraPro S&P 500 (UPRO).
SRS and UPRO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SRS is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Real Estate Index (-200%). It was launched on Jan 30, 2007. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009. Both SRS and UPRO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SRS vs. UPRO - Performance Comparison
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SRS vs. UPRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -2.83% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
UPRO ProShares UltraPro S&P 500 | -16.03% | 31.88% | 63.57% | 68.53% | -56.84% | 98.64% | 10.09% | 102.30% | -25.11% | 71.37% |
Returns By Period
In the year-to-date period, SRS achieves a -2.83% return, which is significantly higher than UPRO's -16.03% return. Over the past 10 years, SRS has underperformed UPRO with an annualized return of -15.82%, while UPRO has yielded a comparatively higher 25.25% annualized return.
SRS
- 1D
- -3.23%
- 1M
- 13.93%
- YTD
- -2.83%
- 6M
- 5.47%
- 1Y
- 1.76%
- 3Y*
- -7.84%
- 5Y*
- -7.33%
- 10Y*
- -15.82%
UPRO
- 1D
- 8.61%
- 1M
- -15.71%
- YTD
- -16.03%
- 6M
- -12.57%
- 1Y
- 32.51%
- 3Y*
- 37.29%
- 5Y*
- 16.63%
- 10Y*
- 25.25%
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SRS vs. UPRO - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than UPRO's 0.92% expense ratio.
Return for Risk
SRS vs. UPRO — Risk / Return Rank
SRS
UPRO
SRS vs. UPRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and ProShares UltraPro S&P 500 (UPRO). 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.
| SRS | UPRO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.05 | 0.60 | -0.55 |
Sortino ratioReturn per unit of downside risk | 0.32 | 1.18 | -0.86 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.18 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.04 | -1.06 |
Martin ratioReturn relative to average drawdown | -0.02 | 4.18 | -4.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SRS | UPRO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 0.60 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | 0.33 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.39 | 0.47 | -0.86 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | 0.59 | -1.08 |
Correlation
The correlation between SRS and UPRO is -0.64. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
SRS vs. UPRO - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.24%, more than UPRO's 1.04% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | 3.24% | 3.61% | 6.06% | 4.49% | 0.30% | 0.00% | 0.19% | 1.80% | 0.47% | 0.00% | 0.00% | 0.00% |
UPRO ProShares UltraPro S&P 500 | 1.04% | 0.84% | 0.93% | 0.74% | 0.52% | 0.06% | 0.11% | 0.41% | 0.63% | 0.00% | 0.12% | 0.34% |
Drawdowns
SRS vs. UPRO - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than UPRO's maximum drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for SRS and UPRO.
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Drawdown Indicators
| SRS | UPRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -76.82% | -23.14% |
Max Drawdown (1Y)Largest decline over 1 year | -29.66% | -33.38% | +3.72% |
Max Drawdown (5Y)Largest decline over 5 years | -50.15% | -63.94% | +13.79% |
Max Drawdown (10Y)Largest decline over 10 years | -85.42% | -76.82% | -8.60% |
Current DrawdownCurrent decline from peak | -99.95% | -20.48% | -79.47% |
Average DrawdownAverage peak-to-trough decline | -91.15% | -14.53% | -76.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.91% | 8.33% | +12.58% |
Volatility
SRS vs. UPRO - Volatility Comparison
The current volatility for ProShares UltraShort Real Estate (SRS) is 8.94%, while ProShares UltraPro S&P 500 (UPRO) has a volatility of 15.89%. This indicates that SRS experiences smaller price fluctuations and is considered to be less risky than UPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | UPRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.94% | 15.89% | -6.95% |
Volatility (6M)Calculated over the trailing 6-month period | 19.03% | 28.41% | -9.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.80% | 54.34% | -21.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.55% | 50.34% | -12.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.64% | 53.70% | -13.06% |