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SRS vs SVXY

ProShares UltraShort Real Estate

SRSBNYSE Arca

ProShares Short VIX Short-Term Futures ETF

SVXYBCboe

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

SRS0.95%SVXY0.95%

Avg volume · 30D

SVXY 110.8×the volume

SRS14.3KSVXY1.58M

10Y return · a year

SVXY +15.0pt

SRS−17.6%SVXY−2.6%

SRS vs SVXY Performance

Nov 9, 2021 – Nov 9, 2026

−17.4%SRS+89.5%SVXY

Nov 9, 2021 to Nov 9, 2026. SRS −17.4%. SVXY +89.5%. Use the arrow keys to read each point.0%25%50%Nov 2021May 2024Nov 2026
Expense ratio
SRS 0.95%
SVXY 0.95%
Fund size
SRS $16M
SVXY $185M
1Y total return
SRS −17.2%
SVXY +19.5%, better
Yield (12M)
SRS 3.39%
SVXY No data
Holdings
SRS 2
SVXY 1
Avg volume (30D)
SRS 14.3K sh
SVXY 1.58M sh, better
NAV per share
SRS $39.90
SVXY $54.78
52W range

ETF.net Grade

SRS: Cost 50, Risk 55, Mission not scored, Tradability 60, Holdings 36, Durability 56. SVXY: Cost 50, Risk 71, Mission not scored, Tradability 88, Holdings not scored, Durability 76.
Pillar letters and Scores for SRS, SVXY, with each pillar’s weight
PillarSRSSVXY
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB55A71Higher
Tradability15% weightB60A88Higher
Holdings10% weightD36Not scored
Durability5% weightB56A76Higher

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. SRS and SVXY are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

SVXY ranks 1st and SRS 14th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BPSQProShares Short QQQScore 65
  3. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  4. Rank 4BRWMProShares Short Russell2000Score 63
  5. Rank 14CSETHProShares Short Ether ETFScore 53
  6. Rank 14BSRSProShares UltraShort Real EstateScore 53
  7. Rank 18CSVIX-1x Short VIX Futures ETFScore 52

Our read on each fund

ETF.net Research

SRSBProShares UltraShort Real Estate

SVXYBProShares Short VIX Short-Term Futures ETF

In short

SRS The one-ticker way to lean against US real estate with leverage: SRS targets twice the inverse of the S&P 500's real estate sector, recalculated every single day. It has been running since 2007, just as the housing market cracked.

SVXY Short volatility, half dose. SVXY targets one-half the inverse of a VIX short-term futures index each day, a deliberately de-tuned take on the short-vol trade, and it has run that mandate since 2011.

Stated mandate

SRS The fund seeks daily results, before fees and expenses, equal to two times the inverse performance of the S&P Real Estate Select Sector SM Index.

SVXY SVXY seeks daily results equal to one-half the inverse of the S&P 500 VIX Short-Term Futures Index. Its objective is measured daily, so returns over longer periods can differ from the stated daily target.

Why people hold it

  • SRS ProShares describes it as the only -2x ETF built to rise when the real estate sector falls on a given day. A REIT-heavy short with leverage, in one brokerage ticker, no margin account or borrow hunt.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.29% gross), near the category median and the same net fee as ProShares' index shorts like PSQ and RWM, each 0.95% net of waivers through September 30, 2027.
  • Trading since January 2007, so nearly two decades of operating history across full real estate cycles. Few inverse sector funds have been around that long.
  • Among the leveraged and inverse funds we review, it sits in the upper tier of a large peer group on how cleanly the exposure is built and traded.
  • SVXY The half-strength design is the whole idea: a -0.5x daily target rather than full inverse, so a jump in VIX futures lands with half the force of a one-for-one short.proshares.com
  • 0.95% a year sits below the typical leveraged and inverse fund, and among that crowd this is one of the stronger implementations in its peer group.
  • Launched in 2011 and actively traded, so it has a long operating history and a working market for getting in and out.

Worth knowing

  • SRS The -2x target is a one-day target. The prospectus states that over longer periods daily rebalancing and compounding will very likely make returns differ from -2x the index, including in flat markets.sec.gov
  • Exposure comes mainly from swaps with large financial institutions rather than shorted shares, so counterparty terms and financing costs sit inside the return.sec.gov
  • A small fund that trades lightly next to the big index-based inverse ETFs, so spreads and execution deserve attention.
  • SVXY The objective resets daily. Hold longer and compounding takes over, so results over weeks or months can look nothing like half the inverse of the index.proshares.com
  • It is a commodity pool holding VIX futures, not a basket of stocks. Reporting and tax treatment follow different rules than a standard equity ETF.proshares.com
  • Pure price vehicle with no distribution stream, and volatility spikes arrive fast, which is exactly what a short-vol position is on the wrong side of.

Full SRS profile⁠

Full SVXY profile⁠

SRS vs SVXY Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SRS vs SVXY Cost

Same expense ratio

$17,869

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SRS 0.95%

    $17,869

  • SVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • SRS 0.95%
  • SVXY 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SRS $17,869SVXY $17,869

Year by year

YearSRSSVXY
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%SRS
  • 0.95%SVXY
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

SRS 6th cheapest of 53 funds

SVXY 6th cheapest of 53 funds

SRS vs SVXY Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
SRS 3.39%
SVXY No data
Payout (12M)
SRS $1.31
SVXY None
Last payment
SRS $0.33
SVXY No data
Ex-dividend
SRS Sep 23, 2026
SVXY No data
Paid on
SRS Sep 29, 2026
SVXY No data
Frequency
SRS Quarterly
SVXY No data

Distribution history

Per share, 2017 to 2026, same scale for both

SRSQuarterly · 24 paymentsAll SRS payments⁠
One bar per payment. 24 payments from 2017 to 2026 YTD. Jun 20, 2018 $0.0099; Sep 26, 2018 $0.50; Dec 26, 2018 $0.65; Mar 20, 2019 $0.57; Jun 25, 2019 $0.86; Sep 25, 2019 $0.74; Dec 24, 2019 $0.51; Mar 25, 2020 $0.19; Dec 22, 2022 $0.22; Mar 22, 2023 $0.42; Jun 21, 2023 $0.59; Sep 20, 2023 $0.66; Dec 20, 2023 $0.89; Mar 20, 2024 $0.51; Jun 26, 2024 $0.97; Sep 25, 2024 $0.79; Dec 23, 2024 $0.88; Mar 26, 2025 $0.49; Jun 25, 2025 $0.43; Sep 24, 2025 $0.42; Dec 24, 2025 $0.43; Mar 25, 2026 $0.26; Jun 24, 2026 $0.29; Sep 23, 2026 $0.33. Use the arrow keys to read each point.$0$12017202020232026YTD
SVXYAll SVXY payments⁠

No distribution history available.

SRS vs SVXY Risk

Fall from peak · 5 years

  • SRS
  • SVXY
Nov 9, 2021 to Nov 9, 2026. Worst fall: SRS −54.8% · Jul 2026. Use the arrow keys to read each point.−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
SRS 33.0%SVXY 26.5%, better
Return per unit of riskSharpe ratio, 3 years
SRS −0.59SVXY 0.42, better
Worst fallMax drawdown, 5 years
SRS −54.8%SVXY −46.4%, better
Market sensitivityBeta, 5 years
SRS −1.87SVXY 1.30

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