AVIE vs. USD

Last updated Jun 23, 2026

AVIE (Avantis Inflation Focused Equity ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - AVIE is a Large Cap Blend Equities fund actively managed by Avantis, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). AVIE is actively managed, while USD is passively managed. Over the past 3 years, AVIE returned 12.88%/yr vs 123.90%/yr for USD. At a 0.18 correlation, their price movements are largely independent. AVIE charges 0.25%/yr vs 0.95%/yr for USD.

Performance

AVIE vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Inflation Focused Equity ETF (AVIE) 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, AVIE achieves a 12.27% return, which is significantly lower than USD's 110.66% return.

AVIE

• 1D: 0.62%
• 1M: -1.83%
• YTD: 12.27%
• 6M: 12.05%
• 1Y: 21.85%
• 3Y*: 12.88%
• 5Y*: —
• 10Y*: —

USD

• 1D: 1.64%
• 1M: 16.06%
• YTD: 110.66%
• 6M: 113.42%
• 1Y: 253.70%
• 3Y*: 123.90%
• 5Y*: 68.54%
• 10Y*: 63.16%

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

AVIE vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AVIE Avantis Inflation Focused Equity ETF	12.27%	11.37%	6.17%	4.19%	15.20%
USD ProShares Ultra Semiconductors	110.66%	62.08%	139.64%	228.79%	4.82%

Correlation

The correlation between AVIE and USD is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Sep 29, 2022	0.18

The correlation between AVIE and USD shifts across timeframes, from -0.10 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

AVIE vs. USD - Sectors Allocation Comparison

Sectors	AVIE	USD
Energy	30.1%	0.0%
Healthcare	26.3%	-
Consumer Defensive	17.1%	-
Financial Services	15.0%	26.0%
Basic Materials	9.8%	-
Industrials	1.1%	-
Real Estate	0.1%	-
Utilities	0.1%	-
Consumer Cyclical	0.1%	-
Technology	0.1%	26.3%
Communication Services	-	-

Return for Risk

AVIE vs. USD — Risk / Return Rank

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

AVIE

AVIE Risk / Return Rank: 74
AVIE Sharpe Ratio Rank: 71
AVIE Sortino Ratio Rank: 74
AVIE Omega Ratio Rank: 67
AVIE Calmar Ratio Rank: 84
AVIE Martin Ratio Rank: 74

USD

USD Risk / Return Rank: 89
USD Sharpe Ratio Rank: 96
USD Sortino Ratio Rank: 79
USD Omega Ratio Rank: 81
USD Calmar Ratio Rank: 96
USD Martin Ratio Rank: 92

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.

AVIE vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Inflation Focused Equity ETF (AVIE) 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.

	AVIE	USD	Difference
Sharpe ratio: Return per unit of total volatility	2.21	3.83	-1.62
Sortino ratio: Return per unit of downside risk	3.16	3.35	-0.19
Omega ratio: Gain probability vs. loss probability	1.39	1.46	-0.07
Calmar ratio: Return relative to maximum drawdown	4.42	8.03	-3.62
Martin ratio: Return relative to average drawdown	13.43	22.36	-8.93

AVIE vs. USD - Sharpe Ratio Comparison

The current AVIE Sharpe Ratio is 2.21, which is lower than the USD Sharpe Ratio of 3.83. The chart below compares the historical Sharpe Ratios of AVIE 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

AVIE vs. USD - Drawdown Comparison

The maximum AVIE drawdown since its inception was -12.39%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for AVIE and USD.

Drawdown Indicators

	AVIE	USD	Difference
Max Drawdown Largest peak-to-trough decline	-12.39%	-88.63%	+76.24%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	-31.80%	+26.83%
Max Drawdown (3Y) Largest decline over 3 years	-12.39%	-64.46%	+52.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-77.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	-2.39%	-2.68%	+0.29%
Average Drawdown Average peak-to-trough decline	-3.00%	-32.30%	+29.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	11.40%	-9.77%

Volatility

AVIE vs. USD - Volatility Comparison

The current volatility for Avantis Inflation Focused Equity ETF (AVIE) is 2.78%, while ProShares Ultra Semiconductors (USD) has a volatility of 31.13%. This indicates that AVIE 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

	AVIE	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	31.13%	-28.35%
Volatility (6M) Calculated over the trailing 6-month period	7.03%	52.43%	-45.40%
Volatility (1Y) Calculated over the trailing 1-year period	9.97%	66.85%	-56.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.90%	77.52%	-64.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.90%	69.80%	-56.90%

AVIE vs. USD - Expense Ratio Comparison

AVIE has a 0.25% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

AVIE vs. USD - Dividend Comparison

AVIE's dividend yield for the trailing twelve months is around 1.89%, more than USD's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVIE Avantis Inflation Focused Equity ETF	1.89%	1.75%	1.89%	3.72%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.22%	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 AVIE and USD in my portfolio?

AVIE and USD have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVIE or USD?

USD has higher volatility (31.13%) compared to AVIE (2.78%). In terms of maximum drawdown, AVIE dropped -12.39% vs USD's -88.63%.

Which ETF is better, AVIE or USD?

On 3-year performance, USD leads with 123.90% vs 12.88% for AVIE. On fees, AVIE is cheaper at 0.25% per year. On volatility, AVIE has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVIE or USD?

Over the 3-year period, USD has performed better with a 123.90% return vs 12.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVIE or USD?

AVIE is cheaper with a 0.25% expense ratio, compared with 0.95% for USD.

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

AVIE has the higher dividend yield at 1.89%, compared with 0.22% for USD.

What is the main difference between AVIE and USD?

AVIE is categorized as Large Cap Blend Equities, while USD is Leveraged Equities. They also come from different issuers: Avantis and ProShares. Their fees differ too: 0.25% for AVIE and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (3.83 vs 2.21), 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.