CARU vs. DIG
CARU (Max Auto Industry 3X Leveraged ETN) and DIG (ProShares Ultra Oil & Gas) are both Leveraged Equities funds - CARU tracks the Prime Auto Industry Index - Benchmark TR Net (--300%) while DIG tracks the Dow Jones U.S. Oil & Gas Index (200%). Both are passively managed. Over the past year, CARU returned -15.14% vs 90.00% for DIG. At a 0.20 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
CARU vs. DIG - Performance Comparison
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Returns By Period
In the year-to-date period, CARU achieves a -23.03% return, which is significantly lower than DIG's 66.35% return.
CARU
- 1D
- -1.30%
- 1M
- 8.25%
- YTD
- -23.03%
- 6M
- -25.68%
- 1Y
- -15.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DIG
- 1D
- 2.57%
- 1M
- -3.48%
- YTD
- 66.35%
- 6M
- 59.45%
- 1Y
- 90.00%
- 3Y*
- 23.37%
- 5Y*
- 28.29%
- 10Y*
- 5.32%
CARU vs. DIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CARU Max Auto Industry 3X Leveraged ETN | -23.03% | 7.29% | 23.44% | -12.17% |
DIG ProShares Ultra Oil & Gas | 66.35% | 2.73% | 0.93% | 8.06% |
Correlation
The correlation between CARU and DIG is -0.05, 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 | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023 | 0.20 |
The correlation between CARU and DIG shifts across timeframes, from -0.05 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CARU vs. DIG — Risk / Return Rank
CARU
DIG
CARU vs. DIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) 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.
| CARU | DIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.44 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.33 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 3.89 | -4.18 |
| Martin ratioReturn relative to average drawdown | -0.63 | 10.65 | -11.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CARU | DIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.22 | 2.22 | -2.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.55 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.05 | -0.00 | -0.05 |
Drawdowns
CARU vs. DIG - Drawdown Comparison
The maximum CARU drawdown since its inception was -66.44%, smaller than the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for CARU and DIG.
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Drawdown Indicators
| CARU | DIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.44% | -97.04% | +30.60% |
Max Drawdown (1Y)Largest decline over 1 year | -50.87% | -23.29% | -27.58% |
Max Drawdown (3Y)Largest decline over 3 years | — | -42.41% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.53% | — |
Current DrawdownCurrent decline from peak | -39.22% | -51.27% | +12.05% |
Average DrawdownAverage peak-to-trough decline | -35.91% | -64.37% | +28.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.99% | 8.49% | +15.50% |
Volatility
CARU vs. DIG - Volatility Comparison
Max Auto Industry 3X Leveraged ETN (CARU) has a higher volatility of 22.70% compared to ProShares Ultra Oil & Gas (DIG) at 16.56%. This indicates that CARU'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.
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Volatility by Period
| CARU | DIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.70% | 16.56% | +6.14% |
Volatility (6M)Calculated over the trailing 6-month period | 50.26% | 33.14% | +17.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.70% | 40.88% | +27.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.27% | 51.59% | +28.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.27% | 57.81% | +22.46% |
CARU vs. DIG - Expense Ratio Comparison
Both CARU and DIG have an expense ratio of 0.95%.
Dividends
CARU vs. DIG - Dividend Comparison
CARU has not paid dividends to shareholders, while DIG's dividend yield for the trailing twelve months is around 1.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CARU Max Auto Industry 3X Leveraged ETN | 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 | 1.50% | 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
CARU and DIG have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARU has higher volatility (22.70%) compared to DIG (16.56%). In terms of maximum drawdown, CARU dropped -66.44% vs DIG's -97.04%.
On 1-year performance, DIG leads with 90.00% vs -15.14% for CARU. Both ETFs have the same 0.95% expense ratio. On volatility, DIG has been the lower-risk option at 16.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DIG has performed better with a 90.00% return vs -15.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CARU and DIG have the same expense ratio: 0.95% per year.
DIG has the higher dividend yield at 1.50%, compared with 0.00% for CARU.
CARU tracks Prime Auto Industry Index - Benchmark TR Net (--300%), while DIG tracks Dow Jones U.S. Oil & Gas Index (200%). They also come from different issuers: Max and ProShares.
DIG currently has the higher Sharpe Ratio (2.22 vs -0.22), 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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