ProShares UltraShort Utilities (SDP)

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The chart shows the growth of an initial investment of $10,000 in ProShares UltraShort Utilities, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

ProShares UltraShort Utilities (SDP) has returned -14.15% so far this year and -27.33% over the past 12 months. Over the last ten years, SDP has returned -21.71% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Mar 14, 2007, SDP's average daily return is -0.07%, while the average monthly return is -1.69%.

Historically, 34% of months were positive and 66% were negative. The best month was Feb 2009 with a return of +27.7%, while the worst month was Mar 2021 at -18.9%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 7 months.

On a daily basis, SDP closed higher 45% of trading days. The best single day was Mar 12, 2020 with a return of +19.4%, while the worst single day was Oct 13, 2008 at -27.7%.

ProShares UltraShort Utilities has an annualized alpha of -4.94%, beta of -1.22, and R² of 0.41 versus S&P 500 Index. Calculated based on daily prices since March 15, 2007.

• This ETF tended to rise when S&P 500 Index fell (downside capture of -92.28%), but participation in market rallies was also limited (-87.89%) — a profile typical of counter-cyclical assets.
• Beta of -1.22 may look defensive, but with R² of 0.41 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R² of 0.41 means the benchmark explains less than half of this ETF's behavior — treat beta with caution or consider switching to a more representative benchmark.

SDP has a high expense ratio of 0.95%, indicating above-average management fees.

SDP 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.

The table below present risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and compare them to a chosen benchmark (S&P 500 Index).

ProShares UltraShort Utilities provided a 4.26% dividend yield over the last twelve months, with an annual payout of $0.45 per share.

The table displays the monthly dividend distributions for ProShares UltraShort Utilities. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the ProShares UltraShort Utilities. 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 Utilities was 99.56%, occurring on Feb 27, 2026. The portfolio has not yet recovered.

The current ProShares UltraShort Utilities drawdown is 99.53%.

The chart below shows the rolling one-month volatility.