SRS vs. VNQ
SRS (ProShares UltraShort Real Estate) and VNQ (Vanguard Real Estate ETF) are both REIT funds - SRS tracks the Dow Jones U.S. Real Estate Index (-200%) while VNQ tracks the MSCI US Investable Market Real Estate 25/50 Index. Both are passively managed. Over the past 10 years, SRS returned -15.88%/yr vs 4.90%/yr for VNQ. Their -0.99 correlation means they have often moved in opposite directions in the past. SRS charges 0.95%/yr vs 0.13%/yr for VNQ.
Performance
SRS vs. VNQ - Performance Comparison
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Returns By Period
In the year-to-date period, SRS achieves a -20.93% return, which is significantly lower than VNQ's 14.01% return. Over the past 10 years, SRS has underperformed VNQ with an annualized return of -15.88%, while VNQ has yielded a comparatively higher 4.90% annualized return.
SRS
- 1D
- 1.05%
- 1M
- -1.58%
- 6M
- -16.96%
- YTD
- -20.93%
- 1Y
- -17.75%
- 3Y*
- -12.90%
- 5Y*
- -5.60%
- 10Y*
- -15.88%
- ALL TIME*
- -28.32%
VNQ
- 1D
- -0.54%
- 1M
- 0.95%
- 6M
- 11.11%
- YTD
- 14.01%
- 1Y
- 15.59%
- 3Y*
- 9.39%
- 5Y*
- 2.44%
- 10Y*
- 4.90%
- ALL TIME*
- 7.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $359.74K | $355.42K | $364.28K | |
| $285.34M | $305.14M | $313.91M |
SRS vs. VNQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -20.93% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
VNQ Vanguard Real Estate ETF | 14.01% | 3.24% | 4.81% | 11.85% | -26.25% | 40.54% | -4.61% | 28.91% | -6.03% | 4.90% |
Correlation
The correlation between SRS and VNQ is -0.98, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.98 |
Correlation (3Y) Balances recent behavior with more history. | -0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.99 |
The correlation between SRS and VNQ has been stable across timeframes, ranging from -0.99 to -0.98 - a consistent structural relationship.
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Return for Risk
SRS vs. VNQ — Risk / Return Rank
SRS
VNQ
SRS vs. VNQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) and Vanguard Real Estate ETF (VNQ). 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 | VNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.38 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.20 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 1.84 | -2.51 |
| Martin ratioReturn relative to average drawdown | -1.39 | 5.97 | -7.36 |
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Drawdowns
SRS vs. VNQ - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than VNQ's maximum drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for SRS and VNQ.
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Drawdown Indicators
| SRS | VNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -73.07% | -26.89% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -8.34% | -17.39% |
Max Drawdown (3Y)Largest decline over 3 years | -54.73% | -17.46% | -37.27% |
Max Drawdown (5Y)Largest decline over 5 years | -54.73% | -34.48% | -20.25% |
Max Drawdown (10Y)Largest decline over 10 years | -86.75% | -42.40% | -44.35% |
Current DrawdownCurrent decline from peak | -99.96% | -1.98% | -97.98% |
Average DrawdownAverage peak-to-trough decline | -91.28% | -13.54% | -77.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.39% | 2.57% | +9.82% |
Volatility
SRS vs. VNQ - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 8.83% compared to Vanguard Real Estate ETF (VNQ) at 4.44%. This indicates that SRS's price experiences larger fluctuations and is considered to be riskier than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRS | VNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.83% | 4.44% | +4.39% |
Volatility (6M)Calculated over the trailing 6-month period | 22.18% | 10.70% | +11.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.47% | 13.86% | +14.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.79% | 18.89% | +18.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.81% | 20.76% | +20.05% |
SRS vs. VNQ - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than VNQ's 0.13% expense ratio.
Dividends
SRS vs. VNQ - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.65%, more than VNQ's 3.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | 3.65% | 3.61% | 6.06% | 4.49% | 0.30% | 0.00% | 0.19% | 1.80% | 0.47% | 0.00% | 0.00% | 0.00% |
VNQ Vanguard Real Estate ETF | 3.51% | 3.92% | 3.85% | 3.95% | 3.91% | 2.56% | 3.93% | 3.39% | 4.74% | 4.23% | 4.82% | 3.92% |
Frequently Asked Questions
SRS and VNQ have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRS has higher volatility (8.83%) compared to VNQ (4.44%). In terms of maximum drawdown, SRS dropped -99.96% vs VNQ's -73.07%.
On 10-year performance, VNQ leads with 4.90% vs -15.88% for SRS. On fees, VNQ is cheaper at 0.13% per year. On volatility, VNQ has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VNQ has performed better with a 4.90% return vs -15.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQ is cheaper with a 0.13% expense ratio, compared with 0.95% for SRS.
SRS has the higher dividend yield at 3.65%, compared with 3.51% for VNQ.
SRS tracks Dow Jones U.S. Real Estate Index (-200%), while VNQ tracks MSCI US Investable Market Real Estate 25/50 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for SRS and 0.13% for VNQ.
VNQ currently has the higher Sharpe Ratio (1.11 vs -0.61), 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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