REK vs SRS: which held to its multiple?
Over three months against its own daily promise, REK finished 1.4 points over and SRS 2.5 points over. ProShares Short Real Estate and ProShares UltraShort Real Estate.
REK returned +8.3% while −1 times IYR's move would have been +6.8%
SRS returned +16.1% while −2 times IYR's move would have been +13.6%
A percentile among the 125 inverse ETFs over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →
Performance, window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | REK | SRS | REK | SRS | REK | SRS |
| 1 month | +7.4% | +15.0% | +6.7% | +13.4% | +0.7 pts | +1.6 pts |
| 3 months | +8.3% | +16.1% | +6.8% | +13.6% | +1.5 pts | +2.6 pts |
| 6 months | +0.6% | −1.1% | −1.4% | −2.8% | +2.0 pts | +1.7 pts |
| 1 year | +4.2% | +3.5% | −0.3% | −0.6% | +4.5 pts | +4.2 pts |
| 3 years | −12.6% | −36.2% | −30.9% | −61.8% | +18.3 pts | +25.6 pts |
| Since launch REK Mar 2010 · SRS Jan 2010 | −79.7% | −98.5% | not meaningful | not meaningful | not meaningful | not meaningful |
REK and SRS over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
REK and SRS on the same fields, as of Sep 30, 2026. Source: ETFIQ.
REK in plain words
Three months to Sep 30, 2026: REK returned +8.3% where its own daily promise gave +6.8%, 1.4 points over. Read the multiple against the whole window instead and −1 times IYR's −6.8% implies +6.8%, which makes REK look 1.5 points over. 0.0 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. REK aims to return -1 times IYR's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. IYR moved at 13% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
SRS in plain words
Three months to Sep 30, 2026: SRS returned +16.1% where its own daily promise gave +13.6%, 2.5 points over. Read the multiple against the whole window instead and −2 times IYR's −6.8% implies +13.6%, which makes SRS look 2.6 points over. 0.1 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. SRS aims to return -2 times IYR's move each day, then resets. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, REK or SRS?
- Over the window to Sep 30, 2026, REK finished 1.5 points from what its multiple implies and SRS finished 2.6 points from its own, so REK came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are REK and SRS levered on the same thing?
- Yes. Both are levered on iShares U.S. Real Estate ETF, REK at -1 times and SRS at -2 times the daily move.
- Which one decays faster, REK or SRS?
- Decay follows how much the underlying moves about. Over this window REK’s moved at 13% annualized and SRS’s at 13%, so REK has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold REK or SRS for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, REK against SRS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/rek-vs-srs
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, REK against SRS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/rek-vs-srs Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, REK against SRS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/rek-vs-srs
- APA
- ETFIQ. (Sep 30, 2026). REK against SRS. Retrieved from https://etfiq.com/compare/leverage/rek-vs-srs
- Markdown
- [REK against SRS (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/rek-vs-srs)