# SRS (ProShares UltraShort Real Estate)

ProShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: SRS returned +8.1% where its own daily promise gave +4.6%, 3.5 points over.

## Key facts

- SRS, what IYR did: −3.0%, as of Sep 11, 2026.
- SRS, what −2 times a day gives: +4.6%, as of Sep 11, 2026.
- SRS, what the fund returned: +8.1%, as of Sep 11, 2026.
- SRS, the fund itself added: +3.5 pts, as of Sep 11, 2026.
- SRS, net assets: $15m (issuer page, as of Sep 11, 2026).
- SRS, expense ratio: 0.95% (485BPOS XBRL, Sep 23, 2025).

## SRS over each window to Sep 11, 2026

| Window | Fund | IYR | -2x the move | Difference | IYR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +5.6% | −2.7% | +5.3% | +0.3 pts | 11% |
| 3 months | +8.1% | −3.0% | +6.0% | +2.1 pts | 14% |
| 6 months | −6.7% | +4.1% | −8.3% | +1.5 pts | 15% |
| 1 year | −6.1% | +4.7% | −9.5% | +3.3 pts | 14% |
| 3 years | −34.6% | +29.0% | −58.1% | +23.4 pts | 17% |
| Since launch | −98.6% | +278.6% | not meaningful over this window | not meaningful over this window | 20% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of IYR, reset daily | ETFIQ |
| Multiple a holder actually got over the window | IYR moved −3.0% over this window, too little to read a multiple from | ETFIQ |
| Underlying | IYR | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $15m | issuer page, as of Sep 11, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 23, 2025 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 14% annualized | ETFIQ |

## Questions

### Did SRS return -2 times IYR?

Over the window to Sep 11, 2026, IYR moved −3.0% and SRS returned +8.1%. 2 times that move is +6.0%, so the fund came out 2.1 points ahead of it.

### Why does SRS not return -2 times over a year?

Because it resets daily. SRS aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, SRS, data as of Sep 11, 2026. https://etfiq.com/funds/SRS
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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