- ISIN
- US74347B7221
- CUSIP
- 74347G721
- Issuer
- ProShares
- Inception Date
- Jan 30, 2007
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- Dow Jones U.S. Utilities Index (-200%)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Value
- Assets Under Management
- $4M
Share Price Chart
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Performance
SDP Performance Chart
ProShares UltraShort Utilities (SDP) is down 10.7% since the beginning of the year. SDP is currently trading at $22 per share. Investors who bought $1,000 worth of SDP shares 5 years ago would now be looking at an investment worth $371.
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Returns By Period
ProShares UltraShort Utilities (SDP) has returned -10.74% so far this year and -20.58% over the past 12 months. Over the last ten years, SDP has returned -20.79% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
ProShares UltraShort Utilities
- 1D
- -1.26%
- 1M
- 1.59%
- YTD
- -10.74%
- 6M
- -11.51%
- 1Y
- -20.58%
- 3Y*
- -20.66%
- 5Y*
- -17.98%
- 10Y*
- -20.79%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.15%
- 1Y
- 24.03%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
SDP Monthly Returns History
Based on dividend-adjusted daily data since Mar 14, 2007, SDP's average daily return is -0.07%, while the average monthly return is -1.65%.
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%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -2.24% | -17.76% | 6.78% | -4.40% | 12.04% | -2.93% | -10.74% | ||||||
| 2025 | -5.80% | -2.47% | -0.46% | -1.33% | -6.77% | 0.01% | -8.40% | 3.73% | -7.24% | -3.83% | -2.80% | 11.67% | -22.59% |
| 2024 | 6.34% | -1.98% | -11.23% | -2.77% | -15.11% | 12.83% | -11.42% | -8.90% | -11.14% | 1.94% | -6.26% | 18.36% | -30.11% |
| 2023 | 4.07% | 12.05% | -8.69% | -3.32% | 13.48% | -2.64% | -4.18% | 13.59% | 13.19% | -3.11% | -9.30% | -3.41% | 18.95% |
| 2022 | 5.88% | 2.96% | -17.86% | 8.17% | -8.80% | 9.55% | -11.70% | -0.19% | 25.24% | -7.04% | -13.15% | 1.42% | -12.54% |
| 2021 | 0.39% | 11.84% | -18.85% | -7.64% | 4.03% | 3.31% | -7.53% | -7.44% | 12.32% | -9.77% | 2.73% | -17.03% | -33.14% |
Benchmark Metrics
ProShares UltraShort Utilities has an annualized alpha of -3.81%, beta of -1.22, and R2 of 0.41 versus S&P 500 Index. Calculated based on daily prices since March 14, 2007.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -90.02%), but participation in market rallies was also limited (-84.43%) - 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.
- Alpha
- -3.81%
- Beta
- -1.22
- R²
- 0.41
- Upside Capture
- -84.43%
- Downside Capture
- -90.02%
Expense Ratio
SDP has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SDP ranks 3 for risk / return — in the bottom 3% 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 Utilities (SDP) 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.
| SDP | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.73 | ||
| Sortino ratioReturn per unit of downside risk | -3.68 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.37 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.78 | -3.52 |
| Martin ratioReturn relative to average drawdown | -1.22 | 12.44 | -13.66 |
Dividends
Dividend History
ProShares UltraShort Utilities provided a 4.09% dividend yield over the last twelve months, with an annual payout of $0.91 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.91 | $1.00 | $1.56 | $1.52 | $0.24 | $0.00 | $0.09 | $1.02 | $0.09 |
Dividend yield | 4.09% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.00 | $0.06 | ||||||
| 2025 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.49 | $1.00 |
| 2024 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.42 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.65 | $1.56 |
| 2023 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.53 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.58 | $1.52 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.24 | $0.24 |
| 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 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 99.51%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -99.56%Feb 2026 | 17y 4mo | — | 17y 8moOct 2008 - now |
Financial crisis2007–2009 | -25.16%Dec 2007 | 3mo 26d | 7mo 28d | 11mo 24dAug 2007 - Aug 2008 |
2007 correction2007 | -19.77%May 2007 | 2mo 4d | 2mo 17d | 4mo 21dMar 2007 - Aug 2007 |
Financial crisis2007–2009 | -12.74%Sep 2008 | 1d | 13d | 14dSep 2008 - Oct 2008 |
2007 correction2007 | -10.55%Aug 2007 | 2d | 7d | 9dAug 2007 - Aug 2007 |
Drawdown Indicators
| SDP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -56.78% | -42.78% |
Max Drawdown (1Y)Largest decline over 1 year | -28.09% | -9.10% | -18.99% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -18.90% | -47.27% |
Max Drawdown (5Y)Largest decline over 5 years | -66.61% | -25.43% | -41.18% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | -33.92% | -58.51% |
Current DrawdownCurrent decline from peak | -99.51% | -1.80% | -97.71% |
Average DrawdownAverage peak-to-trough decline | -82.15% | -10.71% | -71.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.30% | 2.03% | +15.27% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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