BCS vs. SDS

Last updated Jun 23, 2026

BCS (Barclays PLC) is a stock, while SDS (ProShares UltraShort S&P500) is Leveraged Equities fund tracking the S&P 500 Index (-200%). Over the past 10 years, BCS returned 15.34%/yr vs -27.93%/yr for SDS. At a correlation of -0.60, they often move in opposite directions.

Performance

BCS vs. SDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Barclays PLC (BCS) and ProShares UltraShort S&P500 (SDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCS achieves a 8.52% return, which is significantly higher than SDS's -15.24% return. Over the past 10 years, BCS has outperformed SDS with an annualized return of 15.34%, while SDS has yielded a comparatively lower -27.93% annualized return.

BCS

• 1D: 3.72%
• 1M: 14.52%
• YTD: 8.52%
• 6M: 9.03%
• 1Y: 58.38%
• 3Y*: 59.68%
• 5Y*: 27.21%
• 10Y*: 15.34%

SDS

• 1D: 0.66%
• 1M: 0.07%
• YTD: -15.24%
• 6M: -14.30%
• 1Y: -33.56%
• 3Y*: -27.68%
• 5Y*: -21.52%
• 10Y*: -27.93%

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

BCS vs. SDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCS Barclays PLC	8.52%	96.49%	76.26%	6.01%	-21.90%	31.71%	-12.84%	31.90%	-29.25%	0.44%
SDS ProShares UltraShort S&P500	-15.24%	-26.79%	-29.45%	-31.53%	30.69%	-43.02%	-49.91%	-41.17%	6.04%	-32.02%

Correlation

The correlation between BCS and SDS is -0.63, 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	-0.63
Correlation (3Y) Calculated over the trailing 3-year period	-0.52
Correlation (5Y) Calculated over the trailing 5-year period	-0.53
Correlation (10Y) Calculated over the trailing 10-year period	-0.51
Correlation (All Time) Calculated using the full available price history since Jul 13, 2006	-0.60

The correlation between BCS and SDS shifts across timeframes, from -0.63 (1 year) to -0.51 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

BCS vs. SDS — Risk / Return Rank

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

BCS

BCS Risk / Return Rank: 83
BCS Sharpe Ratio Rank: 88
BCS Sortino Ratio Rank: 86
BCS Omega Ratio Rank: 83
BCS Calmar Ratio Rank: 78
BCS Martin Ratio Rank: 80

SDS

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

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.

BCS vs. SDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Barclays PLC (BCS) and ProShares UltraShort S&P500 (SDS). 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.

	BCS	SDS	Difference
Sharpe ratio: Return per unit of total volatility	1.99	-1.36	+3.36
Sortino ratio: Return per unit of downside risk	2.66	-2.11	+4.77
Omega ratio: Gain probability vs. loss probability	1.32	0.77	+0.55
Calmar ratio: Return relative to maximum drawdown	2.24	-0.97	+3.21
Martin ratio: Return relative to average drawdown	6.33	-1.68	+8.02

BCS vs. SDS - Sharpe Ratio Comparison

The current BCS Sharpe Ratio is 1.99, which is higher than the SDS Sharpe Ratio of -1.36. The chart below compares the historical Sharpe Ratios of BCS and SDS, 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

BCS vs. SDS - Drawdown Comparison

The maximum BCS drawdown since its inception was -94.36%, smaller than the maximum SDS drawdown of -99.85%. Use the drawdown chart below to compare losses from any high point for BCS and SDS.

Drawdown Indicators

	BCS	SDS	Difference
Max Drawdown Largest peak-to-trough decline	-94.36%	-99.85%	+5.49%
Max Drawdown (1Y) Largest decline over 1 year	-26.20%	-34.59%	+8.39%
Max Drawdown (3Y) Largest decline over 3 years	-26.20%	-68.14%	+41.94%
Max Drawdown (5Y) Largest decline over 5 years	-48.14%	-75.54%	+27.40%
Max Drawdown (10Y) Largest decline over 10 years	-66.10%	-96.48%	+30.38%
Current Drawdown Current decline from peak	-19.30%	-99.84%	+80.54%
Average Drawdown Average peak-to-trough decline	-38.41%	-82.75%	+44.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.25%	21.37%	-12.12%

Volatility

BCS vs. SDS - Volatility Comparison

Barclays PLC (BCS) and ProShares UltraShort S&P500 (SDS) have volatilities of 9.29% and 9.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCS	SDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.29%	9.18%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	24.22%	19.47%	+4.75%
Volatility (1Y) Calculated over the trailing 1-year period	29.47%	24.79%	+4.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.05%	33.81%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.60%	35.91%	+1.69%

Dividends

BCS vs. SDS - Dividend Comparison

BCS's dividend yield for the trailing twelve months is around 1.71%, less than SDS's 5.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCS Barclays PLC	1.71%	1.70%	3.13%	4.86%	4.18%	1.61%	3.91%	3.68%	3.21%	1.37%	2.26%	2.95%
SDS ProShares UltraShort S&P500	5.67%	5.88%	7.89%	5.77%	0.35%	0.00%	0.92%	1.84%	1.28%	0.09%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BCS and SDS in my portfolio?

BCS and SDS have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCS or SDS?

BCS has higher volatility (9.29%) compared to SDS (9.18%). In terms of maximum drawdown, BCS dropped -94.36% vs SDS's -99.85%.

Which has better risk-adjusted returns?

BCS currently has the higher Sharpe Ratio (1.99 vs -1.36), 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.