CLIX vs. USD

Last updated Jun 4, 2026

CLIX (ProShares Long Online/Short Stores ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - CLIX is a Long-Short fund tracking the ProShares Long Online/Short Stores Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 5 years, CLIX returned -6.40%/yr vs 69.52%/yr for USD. A 0.54 correlation means they provide meaningful diversification when combined. CLIX charges 0.65%/yr vs 0.95%/yr for USD.

Performance

CLIX vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Long Online/Short Stores ETF (CLIX) 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, CLIX achieves a -6.21% return, which is significantly lower than USD's 114.00% return.

CLIX

• 1D: -2.35%
• 1M: -6.73%
• YTD: -6.21%
• 6M: -6.37%
• 1Y: 12.94%
• 3Y*: 18.92%
• 5Y*: -6.40%
• 10Y*: —

USD

• 1D: -1.14%
• 1M: 44.53%
• YTD: 114.00%
• 6M: 111.06%
• 1Y: 274.62%
• 3Y*: 127.67%
• 5Y*: 69.52%
• 10Y*: 62.16%

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

CLIX vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLIX ProShares Long Online/Short Stores ETF	-6.21%	32.81%	20.73%	28.97%	-46.73%	-39.96%	90.91%	17.32%	6.34%	-2.09%
USD ProShares Ultra Semiconductors	114.00%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	-7.72%

Correlation

The correlation between CLIX and USD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Nov 17, 2017	0.54

The correlation between CLIX and USD shifts across timeframes, from 0.42 (1 year) to 0.55 (5 years), reflecting how their relationship changes across market environments.

CLIX vs. USD - Sectors Allocation Comparison

Sectors	CLIX	USD
Consumer Cyclical	94.8%	-
Technology	3.6%	27.4%
Consumer Defensive	1.6%	-
Basic Materials	-	-
Communication Services	-	-
Energy	-	0.0%
Financial Services	-	27.8%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

CLIX vs. USD — Risk / Return Rank

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

CLIX

CLIX Risk / Return Rank: 18
CLIX Sharpe Ratio Rank: 19
CLIX Sortino Ratio Rank: 18
CLIX Omega Ratio Rank: 18
CLIX Calmar Ratio Rank: 17
CLIX Martin Ratio Rank: 18

USD

USD Risk / Return Rank: 90
USD Sharpe Ratio Rank: 97
USD Sortino Ratio Rank: 83
USD Omega Ratio Rank: 83
USD Calmar Ratio Rank: 95
USD Martin Ratio Rank: 93

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.

CLIX vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Long Online/Short Stores ETF (CLIX) 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.

	CLIX	USD	Difference
Sharpe ratio: Return per unit of total volatility	0.62	4.53	-3.91
Sortino ratio: Return per unit of downside risk	0.97	3.81	-2.83
Omega ratio: Gain probability vs. loss probability	1.12	1.51	-0.40
Calmar ratio: Return relative to maximum drawdown	0.66	8.70	-8.03
Martin ratio: Return relative to average drawdown	1.81	25.16	-23.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLIX vs. USD - Sharpe Ratio Comparison

The current CLIX Sharpe Ratio is 0.62, which is lower than the USD Sharpe Ratio of 4.53. The chart below compares the historical Sharpe Ratios of CLIX 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.

Sharpe Ratios by Period

	CLIX	USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	4.53	-3.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	0.91	-1.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.49	-0.32

Drawdowns

CLIX vs. USD - Drawdown Comparison

The maximum CLIX drawdown since its inception was -73.21%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for CLIX and USD.

Drawdown Indicators

	CLIX	USD	Difference
Max Drawdown Largest peak-to-trough decline	-73.21%	-88.63%	+15.42%
Max Drawdown (1Y) Largest decline over 1 year	-19.57%	-31.80%	+12.23%
Max Drawdown (3Y) Largest decline over 3 years	-21.18%	-64.46%	+43.28%
Max Drawdown (5Y) Largest decline over 5 years	-68.22%	-77.85%	+9.63%
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	-44.59%	-1.14%	-43.45%
Average Drawdown Average peak-to-trough decline	-34.70%	-32.35%	-2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.15%	10.97%	-3.82%

Volatility

CLIX vs. USD - Volatility Comparison

The current volatility for ProShares Long Online/Short Stores ETF (CLIX) is 5.08%, while ProShares Ultra Semiconductors (USD) has a volatility of 20.36%. This indicates that CLIX 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

	CLIX	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	20.36%	-15.28%
Volatility (6M) Calculated over the trailing 6-month period	15.59%	46.39%	-30.80%
Volatility (1Y) Calculated over the trailing 1-year period	20.89%	61.22%	-40.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.94%	76.55%	-49.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.92%	69.23%	-43.31%

CLIX vs. USD - Expense Ratio Comparison

CLIX has a 0.65% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

CLIX vs. USD - Dividend Comparison

CLIX's dividend yield for the trailing twelve months is around 0.57%, more than USD's 0.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLIX ProShares Long Online/Short Stores ETF	0.57%	0.46%	0.46%	0.00%	0.00%	0.00%	1.33%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.21%	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 CLIX and USD in my portfolio?

CLIX and USD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLIX or USD?

USD has higher volatility (20.36%) compared to CLIX (5.08%). In terms of maximum drawdown, CLIX dropped -73.21% vs USD's -88.63%.

Which ETF is better, CLIX or USD?

On 5-year performance, USD leads with 69.52% vs -6.40% for CLIX. On fees, CLIX is cheaper at 0.65% per year. On volatility, CLIX has been the lower-risk option at 5.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLIX or USD?

Over the 5-year period, USD has performed better with a 69.52% return vs -6.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLIX or USD?

CLIX is cheaper with a 0.65% expense ratio, compared with 0.95% for USD.

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

CLIX has the higher dividend yield at 0.57%, compared with 0.21% for USD.

What is the main difference between CLIX and USD?

CLIX is categorized as Long-Short, while USD is Leveraged Equities. CLIX tracks ProShares Long Online/Short Stores Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%). Their fees differ too: 0.65% for CLIX and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (4.53 vs 0.62), 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.