^DJI vs. SDOW

Last updated Jun 3, 2026

^DJI (Dow Jones Industrial Average) is an index, while SDOW (ProShares UltraPro Short Dow30) is Leveraged Equities fund tracking the Dow Jones Industrial Average (-300%). Over the past 10 years, ^DJI returned 11.16%/yr vs -38.16%/yr for SDOW. At a correlation of -1.00, they often move in opposite directions.

Performance

^DJI vs. SDOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dow Jones Industrial Average (^DJI) and ProShares UltraPro Short Dow30 (SDOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^DJI achieves a 6.75% return, which is significantly higher than SDOW's -18.49% return. Over the past 10 years, ^DJI has outperformed SDOW with an annualized return of 11.16%, while SDOW has yielded a comparatively lower -38.16% annualized return.

^DJI

• 1D: 0.45%
• 1M: 3.65%
• YTD: 6.75%
• 6M: 8.07%
• 1Y: 21.28%
• 3Y*: 14.97%
• 5Y*: 8.21%
• 10Y*: 11.16%

SDOW

• 1D: -1.52%
• 1M: -10.30%
• YTD: -18.49%
• 6M: -21.02%
• 1Y: -42.78%
• 3Y*: -33.02%
• 5Y*: -25.27%
• 10Y*: -38.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^DJI vs. SDOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^DJI Dow Jones Industrial Average	6.75%	12.97%	12.88%	13.70%	-8.78%	18.73%	7.25%	22.34%	-5.63%	25.08%
SDOW ProShares UltraPro Short Dow30	-18.49%	-33.94%	-25.95%	-28.78%	4.00%	-49.00%	-66.48%	-49.54%	-0.30%	-52.26%

Correlation

The correlation between ^DJI and SDOW is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-1.00
Correlation (3Y) Calculated over the trailing 3-year period	-1.00
Correlation (5Y) Calculated over the trailing 5-year period	-1.00
Correlation (10Y) Calculated over the trailing 10-year period	-1.00
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010	-1.00

The correlation between ^DJI and SDOW has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.

Return for Risk

^DJI vs. SDOW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^DJI

^DJI Risk / Return Rank: 58
^DJI Sharpe Ratio Rank: 59
^DJI Sortino Ratio Rank: 63
^DJI Omega Ratio Rank: 60
^DJI Calmar Ratio Rank: 53
^DJI Martin Ratio Rank: 56

SDOW

SDOW Risk / Return Rank: 1
SDOW Sharpe Ratio Rank: 1
SDOW Sortino Ratio Rank: 1
SDOW Omega Ratio Rank: 1
SDOW Calmar Ratio Rank: 0
SDOW Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^DJI vs. SDOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dow Jones Industrial Average (^DJI) and ProShares UltraPro Short Dow30 (SDOW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^DJI	SDOW	Difference
Sharpe ratio Return per unit of total volatility	1.77	-1.19	+2.96
Sortino ratio Return per unit of downside risk	2.59	-1.81	+4.39
Omega ratio Gain probability vs. loss probability	1.31	0.80	+0.52
Calmar ratio Return relative to maximum drawdown	2.14	-0.99	+3.13
Martin ratio Return relative to average drawdown	8.14	-1.58	+9.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^DJI vs. SDOW - Sharpe Ratio Comparison

The current ^DJI Sharpe Ratio is 1.77, which is higher than the SDOW Sharpe Ratio of -1.19. The chart below compares the historical Sharpe Ratios of ^DJI and SDOW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^DJI	SDOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	-1.19	+2.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	-0.57	+1.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	-0.73	+1.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	-0.78	+1.23

Drawdowns

^DJI vs. SDOW - Drawdown Comparison

The maximum ^DJI drawdown since its inception was -53.78%, smaller than the maximum SDOW drawdown of -99.96%. Use the drawdown chart below to compare losses from any high point for ^DJI and SDOW.

Drawdown Indicators

	^DJI	SDOW	Difference
Max Drawdown Largest peak-to-trough decline	-53.78%	-99.96%	+46.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.01%	-43.45%	+33.44%
Max Drawdown (3Y) Largest decline over 3 years	-16.37%	-74.39%	+58.02%
Max Drawdown (5Y) Largest decline over 5 years	-21.94%	-82.35%	+60.41%
Max Drawdown (10Y) Largest decline over 10 years	-37.09%	-99.26%	+62.17%
Current Drawdown Current decline from peak	0.00%	-99.96%	+99.96%
Average Drawdown Average peak-to-trough decline	-9.40%	-89.43%	+80.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	27.35%	-24.72%

Volatility

^DJI vs. SDOW - Volatility Comparison

The current volatility for Dow Jones Industrial Average (^DJI) is 3.02%, while ProShares UltraPro Short Dow30 (SDOW) has a volatility of 8.83%. This indicates that ^DJI experiences smaller price fluctuations and is considered to be less risky than SDOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^DJI	SDOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	8.83%	-5.81%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	27.90%	-18.59%
Volatility (1Y) Calculated over the trailing 1-year period	12.07%	36.02%	-23.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	44.26%	-29.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.60%	52.13%	-34.53%

Frequently Asked Questions

Can I hold both ^DJI and SDOW in my portfolio?

^DJI and SDOW have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^DJI or SDOW?

SDOW has higher volatility (8.83%) compared to ^DJI (3.02%). In terms of maximum drawdown, ^DJI dropped -53.78% vs SDOW's -99.96%.

Which has better risk-adjusted returns?

^DJI currently has the higher Sharpe Ratio (1.77 vs -1.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.