BABX vs. DIG

Last updated Jul 15, 2026

BABX (GraniteShares 2x Long BABA Daily ETF) and DIG (ProShares Ultra Oil & Gas) are both Leveraged Equities funds. BABX is actively managed, while DIG is passively managed. Over the past 3 years, BABX returned -8.06%/yr vs 19.29%/yr for DIG. At a 0.13 correlation, their price movements are largely independent. BABX charges 1.15%/yr vs 0.95%/yr for DIG.

Performance

BABX vs. DIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long BABA Daily ETF (BABX) and ProShares Ultra Oil & Gas (DIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BABX achieves a -48.20% return, which is significantly lower than DIG's 56.83% return.

BABX

• 1D: -0.16%
• 1M: -3.31%
• 6M: -59.30%
• YTD: -48.20%
• 1Y: -16.91%
• 3Y*: -8.06%
• 5Y*: —
• 10Y*: —

DIG

• 1D: 0.68%
• 1M: -1.34%
• 6M: 42.63%
• YTD: 56.83%
• 1Y: 60.23%
• 3Y*: 19.29%
• 5Y*: 31.69%
• 10Y*: 3.81%

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

BABX vs. DIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BABX GraniteShares 2x Long BABA Daily ETF	-48.20%	123.85%	1.23%	-33.89%	-9.68%
DIG ProShares Ultra Oil & Gas	56.83%	2.73%	0.93%	-13.04%	6.58%

Correlation

The correlation between BABX and DIG is 0.01, 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	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022	0.13

The correlation between BABX and DIG shifts across timeframes, from 0.01 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.

BABX vs. DIG - Sectors Allocation Comparison

Sectors	BABX	DIG
Consumer Cyclical	66.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	54.3%
Financial Services	-	7.8%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BABX vs. DIG — Risk / Return Rank

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

BABX

BABX Risk / Return Rank: 9
BABX Sharpe Ratio Rank: 7
BABX Sortino Ratio Rank: 12
BABX Omega Ratio Rank: 11
BABX Calmar Ratio Rank: 7
BABX Martin Ratio Rank: 7

DIG

DIG Risk / Return Rank: 47
DIG Sharpe Ratio Rank: 53
DIG Sortino Ratio Rank: 47
DIG Omega Ratio Rank: 45
DIG Calmar Ratio Rank: 50
DIG Martin Ratio Rank: 42

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.

BABX vs. DIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long BABA Daily ETF (BABX) and ProShares Ultra Oil & Gas (DIG). 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.

	BABX	DIG	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	1.44	-1.63
Sortino ratio: Return per unit of downside risk	0.38	1.93	-1.55
Omega ratio: Gain probability vs. loss probability	1.04	1.24	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.22	2.03	-2.25
Martin ratio: Return relative to average drawdown	-0.39	5.33	-5.72

BABX vs. DIG - Sharpe Ratio Comparison

The current BABX Sharpe Ratio is -0.19, which is lower than the DIG Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of BABX and DIG, 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

BABX vs. DIG - Drawdown Comparison

The maximum BABX drawdown since its inception was -78.83%, smaller than the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for BABX and DIG.

Drawdown Indicators

	BABX	DIG	Difference
Max Drawdown Largest peak-to-trough decline	-78.83%	-97.04%	+18.21%
Max Drawdown (1Y) Largest decline over 1 year	-78.83%	-29.80%	-49.03%
Max Drawdown (3Y) Largest decline over 3 years	-78.83%	-42.41%	-36.42%
Max Drawdown (5Y) Largest decline over 5 years	—	-46.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-92.53%	—
Current Drawdown Current decline from peak	-70.76%	-54.06%	-16.70%
Average Drawdown Average peak-to-trough decline	-46.05%	-64.31%	+18.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.18%	11.36%	+31.82%

Volatility

BABX vs. DIG - Volatility Comparison

GraniteShares 2x Long BABA Daily ETF (BABX) has a higher volatility of 26.72% compared to ProShares Ultra Oil & Gas (DIG) at 14.04%. This indicates that BABX's price experiences larger fluctuations and is considered to be riskier than DIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BABX	DIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.72%	14.04%	+12.68%
Volatility (6M) Calculated over the trailing 6-month period	60.20%	33.43%	+26.77%
Volatility (1Y) Calculated over the trailing 1-year period	90.15%	42.00%	+48.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.34%	51.42%	+31.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.34%	57.81%	+25.53%

BABX vs. DIG - Expense Ratio Comparison

BABX has a 1.15% expense ratio, which is higher than DIG's 0.95% expense ratio.

Dividends

BABX vs. DIG - Dividend Comparison

BABX has not paid dividends to shareholders, while DIG's dividend yield for the trailing twelve months is around 1.58%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BABX GraniteShares 2x Long BABA Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIG ProShares Ultra Oil & Gas	1.58%	2.62%	3.13%	0.61%	1.33%	2.24%	3.18%	2.72%	2.30%	1.76%	1.09%	1.56%

Frequently Asked Questions

Can I hold both BABX and DIG in my portfolio?

BABX and DIG have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BABX or DIG?

BABX has higher volatility (26.72%) compared to DIG (14.04%). In terms of maximum drawdown, BABX dropped -78.83% vs DIG's -97.04%.

Which ETF is better, BABX or DIG?

On 3-year performance, DIG leads with 19.29% vs -8.06% for BABX. On fees, DIG is cheaper at 0.95% per year. On volatility, DIG has been the lower-risk option at 14.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BABX or DIG?

Over the 3-year period, DIG has performed better with a 19.29% return vs -8.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BABX or DIG?

DIG is cheaper with a 0.95% expense ratio, compared with 1.15% for BABX.

Which ETF pays a higher dividend yield, BABX or DIG?

DIG has the higher dividend yield at 1.58%, compared with 0.00% for BABX.

What is the main difference between BABX and DIG?

They also come from different issuers: GraniteShares and ProShares. Their fees differ too: 1.15% for BABX and 0.95% for DIG.

Which has better risk-adjusted returns?

DIG currently has the higher Sharpe Ratio (1.44 vs -0.19), 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.