- ISIN
- US74348A5258
- CUSIP
- 74348A525
- Issuer
- ProShares
- Inception Date
- Jan 30, 2007
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- DJ Global United States (All) / Oil & Gas -IND (-200%)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Value
- Assets Under Management
- $30M
Share Price Chart
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Performance
DUG Performance Chart
ProShares UltraShort Oil & Gas (DUG) is down 36.0% since the beginning of the year. DUG is currently trading at $21 per share. Investors who bought $1,000 worth of DUG shares 5 years ago would now be looking at an investment worth $104.
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Returns By Period
ProShares UltraShort Oil & Gas (DUG) has returned -35.95% so far this year and -38.97% over the past 12 months. Over the last ten years, DUG has returned -31.27% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
ProShares UltraShort Oil & Gas
- 1D
- -2.63%
- 1M
- 18.26%
- YTD
- -35.95%
- 6M
- -37.15%
- 1Y
- -38.97%
- 3Y*
- -26.05%
- 5Y*
- -36.45%
- 10Y*
- -31.27%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DUG Monthly Returns History
Based on dividend-adjusted daily data since Feb 1, 2007, DUG's average daily return is -0.07%, while the average monthly return is -1.89%.
Historically, 39% of months were positive and 61% were negative. The best month was Mar 2020 with a return of +50.5%, while the worst month was Apr 2020 at -49.0%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 8 months.
On a daily basis, DUG closed higher 48% of trading days. The best single day was Mar 9, 2020 with a return of +42.1%, while the worst single day was Oct 13, 2008 at -36.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -23.81% | -17.16% | -17.63% | 4.52% | 10.75% | 6.42% | -35.95% | ||||||
| 2025 | -4.35% | -7.23% | -6.69% | 25.14% | -2.23% | -9.03% | -5.23% | -6.03% | 0.70% | 2.94% | -4.87% | 0.54% | -18.63% |
| 2024 | 1.20% | -5.61% | -17.59% | 2.64% | 1.46% | 2.69% | -3.63% | 4.58% | 6.46% | -1.59% | -13.93% | 22.68% | -6.13% |
| 2023 | -6.22% | 14.47% | -0.99% | -5.83% | 22.88% | -12.36% | -14.18% | -2.75% | -4.64% | 12.07% | 1.72% | -0.08% | -2.28% |
| 2022 | -28.73% | -14.75% | -19.41% | 1.51% | -27.50% | 35.08% | -20.30% | -8.41% | 16.90% | -36.25% | -4.44% | 6.74% | -72.98% |
| 2021 | -10.44% | -34.66% | -8.48% | -2.85% | -12.60% | -11.21% | 15.81% | 1.34% | -18.37% | -19.19% | 8.44% | -5.94% | -68.12% |
Benchmark Metrics
ProShares UltraShort Oil & Gas has an annualized alpha of 4.56%, beta of -2.12, and R2 of 0.51 versus S&P 500 Index. Calculated based on daily prices since February 01, 2007.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -223.04%), but participation in market rallies was also limited (-120.20%) - a profile typical of counter-cyclical assets.
- This ETF generated an annualized alpha of 4.56% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of -2.12 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 4.56%
- Beta
- -2.12
- R²
- 0.51
- Upside Capture
- -120.20%
- Downside Capture
- -223.04%
Expense Ratio
DUG has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
DUG ranks 2 for risk / return — in the bottom 2% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares UltraShort Oil & Gas (DUG) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DUG | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -4.14 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.37 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 2.78 | -3.47 |
| Martin ratioReturn relative to average drawdown | -1.23 | 12.44 | -13.67 |
Dividends
Dividend History
ProShares UltraShort Oil & Gas provided a 4.31% dividend yield over the last twelve months, with an annual payout of $0.89 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.89 | $1.04 | $2.33 | $1.94 | $0.14 | $0.00 | $0.58 | $4.25 | $2.96 |
Dividend yield | 4.31% | 3.21% | 5.66% | 4.16% | 0.28% | 0.00% | 0.10% | 0.56% | 0.29% |
Monthly Dividends
The table displays the monthly dividend distributions for ProShares UltraShort Oil & Gas. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.00 | $0.08 | ||||||
| 2025 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.32 | $1.04 |
| 2024 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.84 | $0.00 | $0.00 | $0.60 | $0.00 | $0.00 | $0.61 | $2.33 |
| 2023 | $0.00 | $0.00 | $0.51 | $0.00 | $0.00 | $0.45 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.66 | $1.94 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.14 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares UltraShort Oil & Gas. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ProShares UltraShort Oil & Gas was 99.92%, occurring on Mar 27, 2026. The portfolio has not yet recovered.
The current ProShares UltraShort Oil & Gas drawdown is 99.90%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -99.92%Mar 2026 | 17y 5mo | — | 17y 8moOct 2008 - now |
Financial crisis2007–2009 | -64.69%May 2008 | 1y 2mo | 4mo 23d | 1y 7moMar 2007 - Oct 2008 |
2007 pullback2007 | -4.78%Feb 2007 | 13d | 1d | 14dFeb 2007 - Feb 2007 |
2007 pullback2007 | -1.66%Feb 2007 | 0s | 4d | 4dFeb 2007 - Feb 2007 |
2007 pullback2007 | -1.61%Feb 2007 | 0s | 1d | 1dFeb 2007 - Mar 2007 |
Drawdown Indicators
| DUG | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -56.78% | -43.14% |
Max Drawdown (1Y)Largest decline over 1 year | -57.00% | -9.10% | -47.90% |
Max Drawdown (3Y)Largest decline over 3 years | -68.64% | -18.90% | -49.74% |
Max Drawdown (5Y)Largest decline over 5 years | -94.03% | -25.43% | -68.60% |
Max Drawdown (10Y)Largest decline over 10 years | -99.46% | -33.92% | -65.54% |
Current DrawdownCurrent decline from peak | -99.90% | -1.80% | -98.10% |
Average DrawdownAverage peak-to-trough decline | -88.98% | -10.71% | -78.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.68% | 2.03% | +29.65% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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