ProShares UltraPro Short MidCap400 (SMDD) 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 SMDD. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SMDD
SMDD charges 0.95% 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% | 28.74M | Mar 2026 | SMDD vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 48.98M | Sep 2021 | SMDD vs IFED | |
| Direxion Daily S&P 500 Bull 2x Shares | 0.64% | 241.41M | May 2014 | SMDD vs SPUU | |
| Leverage Shares 2X Long FUTU Daily ETF | 0.75% | 8.47M | Oct 2025 | SMDD vs FUTG | |
| Leverage Shares 2X Long COST Daily ETF | 0.75% | 5.48M | Sep 2025 | SMDD vs COTG |
Best Risk-Adjusted Alternatives to SMDD
SMDD has a PortfoliosLab risk / return rank of 1. There are 215 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | 99 | 3.44B | Oct 2024 | SMDD vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 99 | 1.11B | Nov 2024 | SMDD vs MULL | |
| Innovator Growth Accelerated Plus ETF - April | 98 | 19.26M | Apr 2021 | SMDD vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.62M | Apr 2021 | SMDD vs XTAP | |
| Direxion Daily South Korea Bull 3X Shares | 97 | 1.73B | Apr 2013 | SMDD vs KORU |
Top Performing SMDD Alternatives (YTD)
SMDD is at -33.48% YTD. There are 292 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 961.23%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | 961.23% | 3.44B | Oct 2024 | SMDD vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 936.86% | 1.11B | Nov 2024 | SMDD vs MULL | |
| Leverage Shares 2X Long ARM Daily ETF | 936.32% | 75.08M | Jan 2025 | SMDD vs ARMG | |
| GraniteShares 2x Long MRVL Daily ETF | 842.68% | 568.50M | Mar 2025 | SMDD vs MVLL | |
| GraniteShares 2x Long DELL Daily ETF | 757.76% | 101.08M | Feb 2025 | SMDD vs DLLL |
Lowest Volatility Alternatives to SMDD
SMDD has 46.71% 1-year volatility. There are 113 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.70%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.70% | 22.62M | Apr 2021 | SMDD vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 5.56% | 19.26M | Apr 2021 | SMDD vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.43% | 13.32M | Jul 2021 | SMDD vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | 10.01% | 22.12M | Jul 2021 | SMDD vs QTJL | |
| Innovator US Equity Accelerated ETF | 10.56% | 68.42M | Apr 2021 | SMDD vs XDSQ |
Lowest Drawdown Alternatives to SMDD
SMDD has a 1-year max drawdown of -50.42%. There are 134 ETFs in the Leveraged Equities category with shallower 1-year drawdowns, going as shallow as -1.42%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | -1.42% | 22.62M | Apr 2021 | SMDD vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -1.69% | 19.26M | Apr 2021 | SMDD vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.32M | Jul 2021 | SMDD vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -6.68% | 22.12M | Jul 2021 | SMDD vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 68.42M | Apr 2021 | SMDD vs XDSQ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, BITO, QLD and span 8 categories. AUM among these funds goes as high as $40B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 71 | 64.46% | 39.77B | Feb 2010 | SMDD vs TQQQ | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -26.37% | 1.70B | Oct 2021 | SMDD vs BITO | |
| ProShares Ultra QQQ | Leveraged Equities | 69 | 42.06% | 14.46B | Jun 2006 | SMDD vs QLD | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 62 | 27.90% | 5.55B | Jun 2009 | SMDD vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 62 | 19.37% | 8.38B | Jun 2006 | SMDD vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 22 | 3.51% | 11.07B | Oct 2013 | SMDD vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 90 | 114.00% | 3.05B | Jan 2007 | SMDD vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities | 0 | -45.27% | 2.23B | Feb 2010 | SMDD vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -19.06% | 398.99M | Oct 2011 | SMDD vs UVXY | |
| Proshares Ultra Bitcoin ETF | Cryptocurrency, Leveraged Cryptocurrency | 2 | -52.92% | 446.55M | Apr 2024 | SMDD vs BITU |
Often Compared With SMDD
Investors most often compare SMDD with UMDD, XMMO, TZA. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare SMDD with Any Fund or Stock
Compare SMDD with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SMDD with funds that move differently
ProShares UltraPro Short MidCap400 alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SMDD.
Explore SMDD Diversifiers