# REK (ProShares Short Real Estate)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: REK returned +8.3% where its own daily promise gave +6.8%, 1.4 points over.

## Key facts

- REK, what IYR did: −6.8%, as of Sep 30, 2026.
- REK, what −1 times a day gives: +6.8%, as of Sep 30, 2026.
- REK, what the fund returned: +8.3%, as of Sep 30, 2026.
- REK, the fund itself added: +1.4 pts, as of Sep 30, 2026.
- REK, net assets: $13m (issuer page, as of Sep 30, 2026).
- REK, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## REK over each window to Sep 30, 2026

| Window | Fund | IYR | -1x the move | Difference | IYR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +7.4% | −6.7% | +6.7% | +0.7 pts | 10% |
| 3 months | +8.3% | −6.8% | +6.8% | +1.5 pts | 13% |
| 6 months | +0.6% | +1.4% | −1.4% | +2.0 pts | 14% |
| 1 year | +4.2% | +0.3% | −0.3% | +4.5 pts | 14% |
| 3 years | −12.6% | +30.9% | −30.9% | +18.3 pts | 17% |
| Since launch | −79.7% | +225.8% | not meaningful over this window | not meaningful over this window | 20% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -1 times the daily move of IYR, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -1.22 times, against -1 stated | ETFIQ |
| Underlying | IYR | ETFIQ |
| Segment | sector or country, sector | ETFIQ |
| Net assets | $13m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Mar 18, 2010 | ETFIQ |
| Underlying volatility over the window | 13% annualized | ETFIQ |

## Questions

### Did REK return -1 times IYR?

Over the window to Sep 30, 2026, IYR moved −6.8% and REK returned +8.3%. −1 times that move is +6.8%, so the fund came out 1.5 points ahead of it.

### Why does REK not return -1 times over a year?

Because it resets daily. REK aims at -1 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 -1 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, REK, data as of Sep 30, 2026. https://etfiq.com/funds/rek
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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