ARKW vs. USD

Last updated Jun 13, 2026

ARKW (ARK Next Generation Internet ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - ARKW is a Mid Cap Growth Equities fund actively managed by ARK, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). ARKW is actively managed, while USD is passively managed. Over the past 10 years, ARKW returned 22.51%/yr vs 60.21%/yr for USD. A 0.67 correlation means they provide meaningful diversification when combined. ARKW charges 0.76%/yr vs 0.95%/yr for USD.

Performance

ARKW vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Next Generation Internet ETF (ARKW) and ProShares Ultra Semiconductors (USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARKW achieves a -4.37% return, which is significantly lower than USD's 86.87% return. Over the past 10 years, ARKW has underperformed USD with an annualized return of 22.51%, while USD has yielded a comparatively higher 60.21% annualized return.

ARKW

• 1D: 0.87%
• 1M: -4.31%
• YTD: -4.37%
• 6M: -7.45%
• 1Y: 10.34%
• 3Y*: 36.42%
• 5Y*: 0.46%
• 10Y*: 22.51%

USD

• 1D: 2.08%
• 1M: -6.17%
• YTD: 86.87%
• 6M: 97.77%
• 1Y: 222.89%
• 3Y*: 111.11%
• 5Y*: 65.02%
• 10Y*: 60.21%

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

ARKW vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARKW ARK Next Generation Internet ETF	-4.37%	38.93%	42.27%	96.89%	-67.49%	-18.85%	157.44%	35.76%	4.24%	87.29%
USD ProShares Ultra Semiconductors	86.87%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	81.72%

Correlation

The correlation between ARKW and USD is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Sep 30, 2014	0.67

The correlation between ARKW and USD has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

ARKW vs. USD - Sectors Allocation Comparison

Sectors	ARKW	USD
Technology	45.1%	26.7%
Consumer Cyclical	16.3%	-
Communication Services	14.9%	-
Financial Services	14.2%	28.0%
Industrials	1.4%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

ARKW vs. USD — Risk / Return Rank

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

ARKW

ARKW Risk / Return Rank: 14
ARKW Sharpe Ratio Rank: 15
ARKW Sortino Ratio Rank: 15
ARKW Omega Ratio Rank: 15
ARKW Calmar Ratio Rank: 13
ARKW Martin Ratio Rank: 12

USD

USD Risk / Return Rank: 88
USD Sharpe Ratio Rank: 94
USD Sortino Ratio Rank: 79
USD Omega Ratio Rank: 81
USD Calmar Ratio Rank: 95
USD Martin Ratio Rank: 91

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.

ARKW vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Next Generation Internet ETF (ARKW) and ProShares Ultra Semiconductors (USD). 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.

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.

	ARKW	USD	Difference
Sharpe ratio: Return per unit of total volatility	0.32	3.20	-2.88
Sortino ratio: Return per unit of downside risk	0.65	3.05	-2.40
Omega ratio: Gain probability vs. loss probability	1.08	1.41	-0.34
Calmar ratio: Return relative to maximum drawdown	0.29	6.58	-6.29
Martin ratio: Return relative to average drawdown	0.59	18.43	-17.84

ARKW vs. USD - Sharpe Ratio Comparison

The current ARKW Sharpe Ratio is 0.32, which is lower than the USD Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of ARKW and USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARKW vs. USD - Drawdown Comparison

The maximum ARKW drawdown since its inception was -80.52%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for ARKW and USD.

Drawdown Indicators

	ARKW	USD	Difference
Max Drawdown Largest peak-to-trough decline	-80.52%	-88.63%	+8.11%
Max Drawdown (1Y) Largest decline over 1 year	-36.21%	-31.80%	-4.41%
Max Drawdown (3Y) Largest decline over 3 years	-36.21%	-64.46%	+28.25%
Max Drawdown (5Y) Largest decline over 5 years	-77.36%	-77.85%	+0.49%
Max Drawdown (10Y) Largest decline over 10 years	-80.52%	-77.85%	-2.67%
Current Drawdown Current decline from peak	-23.35%	-13.67%	-9.68%
Average Drawdown Average peak-to-trough decline	-23.97%	-32.32%	+8.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.89%	11.34%	+6.55%

Volatility

ARKW vs. USD - Volatility Comparison

The current volatility for ARK Next Generation Internet ETF (ARKW) is 10.38%, while ProShares Ultra Semiconductors (USD) has a volatility of 29.56%. This indicates that ARKW experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARKW	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.38%	29.56%	-19.18%
Volatility (6M) Calculated over the trailing 6-month period	24.57%	52.44%	-27.87%
Volatility (1Y) Calculated over the trailing 1-year period	32.92%	65.34%	-32.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.59%	77.19%	-33.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.73%	69.61%	-31.88%

ARKW vs. USD - Expense Ratio Comparison

ARKW has a 0.76% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

ARKW vs. USD - Dividend Comparison

ARKW's dividend yield for the trailing twelve months is around 1.66%, more than USD's 0.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKW ARK Next Generation Internet ETF	1.66%	1.59%	0.00%	0.00%	0.00%	0.17%	1.29%	0.00%	13.05%	2.05%	0.00%	2.29%
USD ProShares Ultra Semiconductors	0.25%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both ARKW and USD in my portfolio?

ARKW and USD have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKW or USD?

USD has higher volatility (29.56%) compared to ARKW (10.38%). In terms of maximum drawdown, ARKW dropped -80.52% vs USD's -88.63%.

Which ETF is better, ARKW or USD?

On 10-year performance, USD leads with 60.21% vs 22.51% for ARKW. On fees, ARKW is cheaper at 0.76% per year. On volatility, ARKW has been the lower-risk option at 10.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARKW or USD?

Over the 10-year period, USD has performed better with a 60.21% return vs 22.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARKW or USD?

ARKW is cheaper with a 0.76% expense ratio, compared with 0.95% for USD.

Which ETF pays a higher dividend yield, ARKW or USD?

ARKW has the higher dividend yield at 1.66%, compared with 0.25% for USD.

What is the main difference between ARKW and USD?

ARKW is categorized as Mid Cap Growth Equities, while USD is Leveraged Equities. They also come from different issuers: ARK and ProShares. Their fees differ too: 0.76% for ARKW and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (3.20 vs 0.32), 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.