SRS vs. USRT
SRS (ProShares UltraShort Real Estate) and USRT (iShares Core U.S. REIT ETF) are both REIT funds - SRS tracks the Dow Jones U.S. Real Estate Index (-200%) while USRT tracks the FTSE Nareit Equity REITS 40 Act Capped Index. Both are passively managed. Over the past 10 years, SRS returned -16.94%/yr vs 6.54%/yr for USRT. At a correlation of -0.93, they often move in opposite directions. SRS charges 0.95%/yr vs 0.08%/yr for USRT.
Performance
SRS vs. USRT - Performance Comparison
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Returns By Period
In the year-to-date period, SRS achieves a -19.64% return, which is significantly lower than USRT's 17.65% return. Over the past 10 years, SRS has underperformed USRT with an annualized return of -16.94%, while USRT has yielded a comparatively higher 6.54% annualized return.
SRS
- 1D
- -0.10%
- 1M
- -1.96%
- YTD
- -19.64%
- 6M
- -19.15%
- 1Y
- -11.91%
- 3Y*
- -15.72%
- 5Y*
- -6.69%
- 10Y*
- -16.94%
USRT
- 1D
- 0.14%
- 1M
- 1.97%
- YTD
- 17.65%
- 6M
- 17.22%
- 1Y
- 18.67%
- 3Y*
- 14.13%
- 5Y*
- 5.39%
- 10Y*
- 6.54%
SRS vs. USRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -19.64% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
USRT iShares Core U.S. REIT ETF | 17.65% | 2.44% | 8.58% | 13.64% | -24.43% | 43.26% | -8.06% | 25.98% | -4.67% | 5.27% |
Correlation
The correlation between SRS and USRT is -0.94, 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 | -0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.97 |
Correlation (All Time) Calculated using the full available price history since May 4, 2007 | -0.93 |
The correlation between SRS and USRT has been stable across timeframes, ranging from -0.97 to -0.93 - a consistent structural relationship.
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Return for Risk
SRS vs. USRT — Risk / Return Rank
SRS
USRT
SRS vs. USRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and iShares Core U.S. REIT ETF (USRT). 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 | USRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.78 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.24 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | 2.33 | -2.87 |
| Martin ratioReturn relative to average drawdown | -1.17 | 7.57 | -8.74 |
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Drawdowns
SRS vs. USRT - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than USRT's maximum drawdown of -69.92%. Use the drawdown chart below to compare losses from any high point for SRS and USRT.
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Drawdown Indicators
| SRS | USRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -69.92% | -30.04% |
Max Drawdown (1Y)Largest decline over 1 year | -22.21% | -8.04% | -14.17% |
Max Drawdown (3Y)Largest decline over 3 years | -52.58% | -18.70% | -33.88% |
Max Drawdown (5Y)Largest decline over 5 years | -52.58% | -31.03% | -21.55% |
Max Drawdown (10Y)Largest decline over 10 years | -86.12% | -44.38% | -41.74% |
Current DrawdownCurrent decline from peak | -99.96% | -0.11% | -99.85% |
Average DrawdownAverage peak-to-trough decline | -91.23% | -12.94% | -78.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.23% | 2.50% | +7.73% |
Volatility
SRS vs. USRT - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 10.69% compared to iShares Core U.S. REIT ETF (USRT) at 5.19%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than USRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | USRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 5.19% | +5.50% |
Volatility (6M)Calculated over the trailing 6-month period | 21.28% | 10.05% | +11.23% |
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% | 18.93% | +18.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 21.32% | +19.45% |
SRS vs. USRT - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than USRT's 0.08% expense ratio.
Dividends
SRS vs. USRT - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.92%, more than USRT's 2.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USRT iShares Core U.S. REIT ETF | 2.57% | 3.07% | 2.85% | 3.18% | 3.46% | 2.27% | 3.12% | 3.34% | 5.66% | 3.44% | 3.98% | 3.59% |
Frequently Asked Questions
SRS and USRT have a correlation of -0.94, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRS has higher volatility (10.69%) compared to USRT (5.19%). In terms of maximum drawdown, SRS dropped -99.96% vs USRT's -69.92%.
On 10-year performance, USRT leads with 6.54% vs -16.94% for SRS. On fees, USRT is cheaper at 0.08% per year. On volatility, USRT has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USRT has performed better with a 6.54% return vs -16.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USRT is cheaper with a 0.08% expense ratio, compared with 0.95% for SRS.
SRS has the higher dividend yield at 3.92%, compared with 2.57% for USRT.
SRS tracks Dow Jones U.S. Real Estate Index (-200%), while USRT tracks FTSE Nareit Equity REITS 40 Act Capped Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SRS and 0.08% for USRT.
USRT currently has the higher Sharpe Ratio (1.36 vs -0.42), 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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