DDM vs. ^SP500TR

Last updated Apr 3, 2026

Compare and contrast key facts about ProShares Ultra Dow30 (DDM) and S&P 500 Total Return (^SP500TR).

DDM is a passively managed fund by ProShares that tracks the performance of the Dow Jones Industrial Average Index (200%). It was launched on Jun 21, 2006.

Performance

DDM vs. ^SP500TR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Dow30 (DDM) and S&P 500 Total Return (^SP500TR). The values are adjusted to include any dividend payments, if applicable.

DDM vs. ^SP500TR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDM ProShares Ultra Dow30	-7.50%	20.59%	21.60%	24.34%	-19.48%	41.97%	2.14%	47.98%	-13.46%	59.56%
^SP500TR S&P 500 Total Return	-3.53%	17.88%	25.02%	26.29%	-18.11%	28.71%	18.40%	31.49%	-4.38%	21.83%

Returns By Period

In the year-to-date period, DDM achieves a -7.50% return, which is significantly lower than ^SP500TR's -3.53% return. Over the past 10 years, DDM has outperformed ^SP500TR with an annualized return of 17.69%, while ^SP500TR has yielded a comparatively lower 14.22% annualized return.

DDM

• 1D: -0.17%
• 1M: -8.49%
• YTD: -7.50%
• 6M: -2.24%
• 1Y: 14.78%
• 3Y*: 18.36%
• 5Y*: 10.37%
• 10Y*: 17.69%

^SP500TR

• 1D: 0.12%
• 1M: -3.32%
• YTD: -3.53%
• 6M: -1.37%
• 1Y: 17.55%
• 3Y*: 18.50%
• 5Y*: 11.99%
• 10Y*: 14.22%

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

Return for Risk

DDM vs. ^SP500TR — Risk / Return Rank

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

DDM

DDM Risk / Return Rank: 26
DDM Sharpe Ratio Rank: 23
DDM Sortino Ratio Rank: 27
DDM Omega Ratio Rank: 26
DDM Calmar Ratio Rank: 25
DDM Martin Ratio Rank: 26

^SP500TR

^SP500TR Risk / Return Rank: 68
^SP500TR Sharpe Ratio Rank: 64
^SP500TR Sortino Ratio Rank: 68
^SP500TR Omega Ratio Rank: 71
^SP500TR Calmar Ratio Rank: 60
^SP500TR Martin Ratio Rank: 79

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.

DDM vs. ^SP500TR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Dow30 (DDM) and S&P 500 Total Return (^SP500TR). 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.

	DDM	^SP500TR	Difference
Sharpe ratio Return per unit of total volatility	0.44	0.96	-0.52
Sortino ratio Return per unit of downside risk	0.86	1.48	-0.62
Omega ratio Gain probability vs. loss probability	1.12	1.23	-0.11
Calmar ratio Return relative to maximum drawdown	0.77	1.51	-0.75
Martin ratio Return relative to average drawdown	2.60	7.14	-4.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DDM vs. ^SP500TR - Sharpe Ratio Comparison

The current DDM Sharpe Ratio is 0.44, which is lower than the ^SP500TR Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of DDM and ^SP500TR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DDM	^SP500TR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	0.96	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.71	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.79	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.62	-0.26

Correlation

The correlation between DDM and ^SP500TR is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

DDM vs. ^SP500TR - Drawdown Comparison

The maximum DDM drawdown since its inception was -81.70%, which is greater than ^SP500TR's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for DDM and ^SP500TR.

Drawdown Indicators

	DDM	^SP500TR	Difference
Max Drawdown Largest peak-to-trough decline	-81.70%	-55.25%	-26.45%
Max Drawdown (1Y) Largest decline over 1 year	-19.31%	-8.89%	-10.42%
Max Drawdown (5Y) Largest decline over 5 years	-40.18%	-24.49%	-15.69%
Max Drawdown (10Y) Largest decline over 10 years	-63.13%	-33.79%	-29.34%
Current Drawdown Current decline from peak	-14.50%	-5.44%	-9.06%
Average Drawdown Average peak-to-trough decline	-17.44%	-8.20%	-9.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.18%	2.57%	+3.61%

Volatility

DDM vs. ^SP500TR - Volatility Comparison

ProShares Ultra Dow30 (DDM) has a higher volatility of 9.76% compared to S&P 500 Total Return (^SP500TR) at 5.30%. This indicates that DDM's price experiences larger fluctuations and is considered to be riskier than ^SP500TR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDM	^SP500TR	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.76%	5.30%	+4.46%
Volatility (6M) Calculated over the trailing 6-month period	18.54%	9.55%	+8.99%
Volatility (1Y) Calculated over the trailing 1-year period	33.55%	18.32%	+15.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.41%	16.90%	+12.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.69%	18.04%	+16.65%