URE vs. KBWY
URE (ProShares Ultra Real Estate) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both REIT funds - URE tracks the Dow Jones U.S. Real Estate Index (200%) while KBWY tracks the KBW Premium Yield Equity REIT Index. Both are passively managed. Over the past 10 years, URE returned 2.80%/yr vs 1.18%/yr for KBWY. Their correlation of 0.81 suggests significant overlap in exposure. URE charges 0.95%/yr vs 0.35%/yr for KBWY.
Performance
URE vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, URE achieves a 13.97% return, which is significantly lower than KBWY's 17.06% return. Over the past 10 years, URE has outperformed KBWY with an annualized return of 2.80%, while KBWY has yielded a comparatively lower 1.18% annualized return.
URE
- 1D
- 0.12%
- 1M
- -2.94%
- YTD
- 13.97%
- 6M
- 11.99%
- 1Y
- 8.16%
- 3Y*
- 8.96%
- 5Y*
- -4.07%
- 10Y*
- 2.80%
KBWY
- 1D
- -0.81%
- 1M
- 5.63%
- YTD
- 17.06%
- 6M
- 17.05%
- 1Y
- 22.51%
- 3Y*
- 9.10%
- 5Y*
- 2.15%
- 10Y*
- 1.18%
URE vs. KBWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
URE ProShares Ultra Real Estate | 13.97% | -3.65% | 0.35% | 11.58% | -49.64% | 88.24% | -28.06% | 57.86% | -13.80% | 16.56% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 17.06% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between URE and KBWY is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2010 | 0.81 |
The correlation between URE and KBWY shifts across timeframes, from 0.71 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
URE vs. KBWY — Risk / Return Rank
URE
KBWY
URE vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Real Estate (URE) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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.
| URE | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.23 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 2.45 | -1.95 |
| Martin ratioReturn relative to average drawdown | 1.20 | 5.82 | -4.62 |
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
| URE | KBWY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 1.38 | -1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | 0.10 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.07 | 0.04 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | 0.20 | -0.26 |
Drawdowns
URE vs. KBWY - Drawdown Comparison
The maximum URE drawdown since its inception was -97.16%, which is greater than KBWY's maximum drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for URE and KBWY.
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Drawdown Indicators
| URE | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.16% | -57.68% | -39.48% |
Max Drawdown (1Y)Largest decline over 1 year | -16.50% | -9.24% | -7.26% |
Max Drawdown (3Y)Largest decline over 3 years | -33.77% | -29.93% | -3.84% |
Max Drawdown (5Y)Largest decline over 5 years | -63.66% | -32.29% | -31.37% |
Max Drawdown (10Y)Largest decline over 10 years | -70.49% | -57.68% | -12.81% |
Current DrawdownCurrent decline from peak | -52.68% | -10.82% | -41.86% |
Average DrawdownAverage peak-to-trough decline | -64.52% | -14.18% | -50.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.83% | 3.88% | +2.95% |
Volatility
URE vs. KBWY - Volatility Comparison
ProShares Ultra Real Estate (URE) has a higher volatility of 7.56% compared to Invesco KBW Premium Yield Equity REIT ETF (KBWY) at 4.73%. This indicates that URE's price experiences larger fluctuations and is considered to be riskier than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| URE | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 4.73% | +2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 19.29% | 11.61% | +7.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.73% | 16.44% | +10.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.28% | 21.61% | +15.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.53% | 27.05% | +13.48% |
URE vs. KBWY - Expense Ratio Comparison
URE has a 0.95% expense ratio, which is higher than KBWY's 0.35% expense ratio.
Dividends
URE vs. KBWY - Dividend Comparison
URE's dividend yield for the trailing twelve months is around 2.05%, less than KBWY's 8.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.64% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
URE ProShares Ultra Real Estate | 2.05% | 2.42% | 2.09% | 1.32% | 1.26% | 0.58% | 0.94% | 1.10% | 1.53% | 0.93% | 0.96% | 0.81% |
Frequently Asked Questions
URE and KBWY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URE has higher volatility (7.56%) compared to KBWY (4.73%). In terms of maximum drawdown, URE dropped -97.16% vs KBWY's -57.68%.
On 10-year performance, URE leads with 2.80% vs 1.18% for KBWY. On fees, KBWY is cheaper at 0.35% per year. On volatility, KBWY has been the lower-risk option at 4.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, URE has performed better with a 2.80% return vs 1.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KBWY is cheaper with a 0.35% expense ratio, compared with 0.95% for URE.
KBWY has the higher dividend yield at 8.64%, compared with 2.05% for URE.
URE tracks Dow Jones U.S. Real Estate Index (200%), while KBWY tracks KBW Premium Yield Equity REIT Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for URE and 0.35% for KBWY.
KBWY currently has the higher Sharpe Ratio (1.38 vs 0.31), 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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