BULZ vs. USD
BULZ (MicroSectors FANG & Innovation 3X Leveraged ETNs) and USD (ProShares Ultra Semiconductors) are both Leveraged Equities funds - BULZ tracks the Solactive FANG Innovation Index (300%) while USD tracks the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 3 years, BULZ returned 65.65%/yr vs 99.92%/yr for USD. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.
Performance
BULZ vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, BULZ achieves a 38.16% return, which is significantly lower than USD's 70.32% return.
BULZ
- 1D
- -7.41%
- 1M
- -10.84%
- 6M
- 28.00%
- YTD
- 38.16%
- 1Y
- 98.38%
- 3Y*
- 65.65%
- 5Y*
- —
- 10Y*
- —
USD
- 1D
- -8.00%
- 1M
- -8.85%
- 6M
- 60.45%
- YTD
- 70.32%
- 1Y
- 127.92%
- 3Y*
- 99.92%
- 5Y*
- 59.89%
- 10Y*
- 57.21%
BULZ vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs | 38.16% | 60.09% | 54.09% | 394.22% | -92.26% | 9.17% |
USD ProShares Ultra Semiconductors | 70.32% | 62.08% | 139.64% | 228.79% | -68.57% | 56.64% |
Correlation
The correlation between BULZ and USD is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2021 | 0.88 |
The correlation between BULZ and USD has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
BULZ vs. USD - Sectors Allocation Comparison
Sectors
BULZ
USD
Technology
Communication Services
-
Financial Services
Consumer Cyclical
-
Basic Materials
-
-
Consumer Defensive
-
-
Energy
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Utilities
-
-
Technology
BULZ
USD
Communication Services
BULZ
USD
-
Financial Services
BULZ
USD
Consumer Cyclical
BULZ
USD
-
Basic Materials
BULZ
-
USD
-
Consumer Defensive
BULZ
-
USD
-
Energy
BULZ
-
USD
Healthcare
BULZ
-
USD
-
Industrials
BULZ
-
USD
-
Real Estate
BULZ
-
USD
-
Utilities
BULZ
-
USD
-
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Return for Risk
BULZ vs. USD — Risk / Return Rank
BULZ
USD
BULZ vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) 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.
| BULZ | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 4.05 | -2.22 |
| Martin ratioReturn relative to average drawdown | 4.44 | 10.59 | -6.15 |
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Drawdowns
BULZ vs. USD - Drawdown Comparison
The maximum BULZ drawdown since its inception was -94.44%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for BULZ and USD.
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Drawdown Indicators
| BULZ | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.44% | -88.63% | -5.81% |
Max Drawdown (1Y)Largest decline over 1 year | -54.22% | -31.80% | -22.42% |
Max Drawdown (3Y)Largest decline over 3 years | -67.96% | -64.46% | -3.50% |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.85% | — |
Current DrawdownCurrent decline from peak | -34.91% | -21.31% | -13.60% |
Average DrawdownAverage peak-to-trough decline | -57.75% | -32.25% | -25.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.26% | 12.13% | +10.13% |
Volatility
BULZ vs. USD - Volatility Comparison
The current volatility for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) is 29.07%, while ProShares Ultra Semiconductors (USD) has a volatility of 32.41%. This indicates that BULZ 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.
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Volatility by Period
| BULZ | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.07% | 32.41% | -3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 65.30% | 57.60% | +7.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 81.12% | 70.64% | +10.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 91.70% | 78.22% | +13.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.70% | 70.05% | +21.65% |
BULZ vs. USD - Expense Ratio Comparison
Both BULZ and USD have an expense ratio of 0.95%.
Dividends
BULZ vs. USD - Dividend Comparison
BULZ has not paid dividends to shareholders, while USD's dividend yield for the trailing twelve months is around 0.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.34% | 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
BULZ and USD have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (32.41%) compared to BULZ (29.07%). In terms of maximum drawdown, BULZ dropped -94.44% vs USD's -88.63%.
On 3-year performance, USD leads with 99.92% vs 65.65% for BULZ. Both ETFs have the same 0.95% expense ratio. On volatility, BULZ has been the lower-risk option at 29.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, USD has performed better with a 99.92% return vs 65.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BULZ and USD have the same expense ratio: 0.95% per year.
USD has the higher dividend yield at 0.34%, compared with 0.00% for BULZ.
BULZ tracks Solactive FANG Innovation Index (300%), while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: BMO and ProShares.
USD currently has the higher Sharpe Ratio (1.83 vs 1.22), 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.
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