ProShares UltraShort S&P500 (SDS) belongs to the Leveraged Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with SDS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SDS
SDS charges 0.91% annually. There are 93 ETFs in the Leveraged Equities category with lower expense ratios, going as low as 0.35%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| WisdomTree Efficient U.S. Plus International Equit... | 0.35% | 43.18M | Mar 2026 | SDS vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 48.07M | Sep 2021 | SDS vs IFED | |
| Corgi BRKB 2x Daily ETF | 0.45% | — | Jul 2026 | SDS vs BRKL | |
| Direxion Daily S&P 500 Bull 2X ETF | 0.60% | 260.25M | May 2014 | SDS vs SPUU | |
| Leverage Shares 2X Long SPOT Daily ETF | 0.75% | 3.02M | Nov 2025 | SDS vs SPOG |
Best Risk-Adjusted Alternatives to SDS
SDS has a PortfoliosLab risk / return rank of 2. There are 247 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | 98 | 3.86B | Oct 2024 | SDS vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 98 | 531.06M | Nov 2024 | SDS vs MULL | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.69M | Apr 2021 | SDS vs XTAP | |
| GraniteShares 2x Long INTC Daily ETF | 97 | 282.58M | Feb 2025 | SDS vs INTW | |
| Innovator Growth Accelerated Plus ETF - April | 97 | 20.37M | Apr 2021 | SDS vs QTAP |
Top Performing SDS Alternatives (YTD)
SDS is at -15.25% YTD. There are 200 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 615.57%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| GraniteShares 2x Long DELL Daily ETF | 615.57% | 101.24M | Feb 2025 | SDS vs DLLL | |
| Direxion Daily MU Bull 2X Shares | 372.51% | 3.86B | Oct 2024 | SDS vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 359.36% | 531.06M | Nov 2024 | SDS vs MULL | |
| Direxion Daily INTC Bull 2X Shares | 259.95% | 63.06M | Nov 2025 | SDS vs LINT | |
| GraniteShares 2x Long INTC Daily ETF | 259.86% | 282.58M | Feb 2025 | SDS vs INTW |
Lowest Volatility Alternatives to SDS
SDS has 25.61% 1-year volatility. There are 22 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.93%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.93% | 22.69M | Apr 2021 | SDS vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 6.61% | 20.37M | Apr 2021 | SDS vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.79% | 13.42M | Jul 2021 | SDS vs XTJL | |
| Innovator US Equity Accelerated ETF | 10.98% | 69.34M | Apr 2021 | SDS vs XDSQ | |
| Innovator Growth Accelerated Plus ETF - July | 11.72% | 19.11M | Jul 2021 | SDS vs QTJL |
Lowest Drawdown Alternatives to SDS
SDS has a 1-year max drawdown of -30.56%. There are 64 ETFs in the Leveraged Equities category with shallower 1-year drawdowns, going as shallow as -1.72%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | -1.72% | 22.69M | Apr 2021 | SDS vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -2.81% | 20.37M | Apr 2021 | SDS vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.42M | Jul 2021 | SDS vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -8.48% | 19.11M | Jul 2021 | SDS vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 69.34M | Apr 2021 | SDS vs XDSQ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, QLD, BITO and span 10 categories. AUM among these funds goes as high as $33B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 36 | 23.06% | 32.83B | Feb 2010 | SDS vs TQQQ | |
| ProShares Ultra QQQ | Leveraged Equities | 39 | 18.94% | 12.76B | Jun 2006 | SDS vs QLD | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 1 | -29.42% | 1.41B | Oct 2021 | SDS vs BITO | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 50 | 21.72% | 5.15B | Jun 2009 | SDS vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 54 | 16.14% | 7.81B | Jun 2006 | SDS vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 47 | 10.84% | 11.68B | Oct 2013 | SDS vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 52 | 50.25% | 2.47B | Jan 2007 | SDS vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 2 | -34.61% | 2.00B | Feb 2010 | SDS vs SQQQ | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 44 | 10.08% | 394.37M | Mar 2024 | SDS vs IQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 2 | -35.24% | 244.68M | Oct 2011 | SDS vs UVXY |
Often Compared With SDS
Investors most often compare SDS with SPXU, SH, SPXS. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.
Compare SDS with Any Fund or Stock
Compare SDS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SDS with funds that move differently
ProShares UltraShort S&P500 alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SDS.
Explore SDS Diversifiers