DDM vs. DYLG

Last updated Jun 4, 2026

DDM (ProShares Ultra Dow30) and DYLG (Global X Dow 30 Covered Call & Growth ETF) are both exchange-traded funds - DDM is a Leveraged Equities fund tracking the Dow Jones Industrial Average Index (200%), while DYLG is a Derivative Income fund tracking the Cboe DJIA Half BuyWrite Index - Benchmark TR Gross. Both are passively managed. Over the past year, DDM returned 36.48% vs 17.86% for DYLG. With a 0.98 correlation, they move nearly in lockstep. DDM charges 0.95%/yr vs 0.35%/yr for DYLG.

Performance

DDM vs. DYLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Dow30 (DDM) and Global X Dow 30 Covered Call & Growth ETF (DYLG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDM achieves a 9.35% return, which is significantly higher than DYLG's 4.63% return.

DDM

• 1D: -2.29%
• 1M: 7.27%
• YTD: 9.35%
• 6M: 9.82%
• 1Y: 36.48%
• 3Y*: 24.94%
• 5Y*: 11.93%
• 10Y*: 19.50%

DYLG

• 1D: -0.65%
• 1M: 3.69%
• YTD: 4.63%
• 6M: 5.52%
• 1Y: 17.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DDM vs. DYLG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DDM ProShares Ultra Dow30	9.35%	20.59%	21.60%	10.62%
DYLG Global X Dow 30 Covered Call & Growth ETF	4.63%	12.50%	14.46%	4.05%

Correlation

The correlation between DDM and DYLG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jul 27, 2023	0.98

The correlation between DDM and DYLG has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

DDM vs. DYLG - Sectors Allocation Comparison

Sectors	DDM	DYLG
Financial Services	27.2%	27.2%
Industrials	18.4%	18.4%
Technology	17.1%	17.1%
Healthcare	13.1%	13.1%
Consumer Cyclical	11.6%	11.6%
Consumer Defensive	4.4%	4.4%
Basic Materials	4.0%	4.0%
Energy	2.4%	2.4%
Communication Services	1.9%	1.9%
Real Estate	-	-
Utilities	-	-

Return for Risk

DDM vs. DYLG — Risk / Return Rank

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

DDM

DDM Risk / Return Rank: 41
DDM Sharpe Ratio Rank: 43
DDM Sortino Ratio Rank: 42
DDM Omega Ratio Rank: 40
DDM Calmar Ratio Rank: 38
DDM Martin Ratio Rank: 42

DYLG

DYLG Risk / Return Rank: 53
DYLG Sharpe Ratio Rank: 56
DYLG Sortino Ratio Rank: 57
DYLG Omega Ratio Rank: 57
DYLG Calmar Ratio Rank: 43
DYLG Martin Ratio Rank: 52

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. DYLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Dow30 (DDM) and Global X Dow 30 Covered Call & Growth ETF (DYLG). 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	DYLG	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.90	-0.39
Sortino ratio: Return per unit of downside risk	2.17	2.74	-0.58
Omega ratio: Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio: Return relative to maximum drawdown	1.90	2.16	-0.26
Martin ratio: Return relative to average drawdown	6.97	8.78	-1.81
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. DYLG - Sharpe Ratio Comparison

The current DDM Sharpe Ratio is 1.51, which is comparable to the DYLG Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of DDM and DYLG, 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

	DDM	DYLG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	1.90	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	1.10	-0.71

Drawdowns

DDM vs. DYLG - Drawdown Comparison

The maximum DDM drawdown since its inception was -81.70%, which is greater than DYLG's maximum drawdown of -13.98%. Use the drawdown chart below to compare losses from any high point for DDM and DYLG.

Drawdown Indicators

	DDM	DYLG	Difference
Max Drawdown Largest peak-to-trough decline	-81.70%	-13.98%	-67.72%
Max Drawdown (1Y) Largest decline over 1 year	-19.31%	-8.31%	-11.00%
Max Drawdown (3Y) Largest decline over 3 years	-31.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-40.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-63.13%	—	—
Current Drawdown Current decline from peak	-2.29%	-0.65%	-1.64%
Average Drawdown Average peak-to-trough decline	-17.33%	-1.86%	-15.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.25%	2.04%	+3.21%

Volatility

DDM vs. DYLG - Volatility Comparison

ProShares Ultra Dow30 (DDM) has a higher volatility of 5.95% compared to Global X Dow 30 Covered Call & Growth ETF (DYLG) at 2.46%. This indicates that DDM's price experiences larger fluctuations and is considered to be riskier than DYLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDM	DYLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.95%	2.46%	+3.49%
Volatility (6M) Calculated over the trailing 6-month period	18.62%	7.46%	+11.16%
Volatility (1Y) Calculated over the trailing 1-year period	24.25%	9.44%	+14.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.53%	11.44%	+18.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.76%	11.44%	+23.32%

DDM vs. DYLG - Expense Ratio Comparison

DDM has a 0.95% expense ratio, which is higher than DYLG's 0.35% expense ratio.

Dividends

DDM vs. DYLG - Dividend Comparison

DDM's dividend yield for the trailing twelve months is around 0.91%, less than DYLG's 9.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDM ProShares Ultra Dow30	0.91%	0.94%	1.00%	0.27%	0.83%	0.18%	0.31%	0.62%	0.89%	0.68%	1.08%	1.23%
DYLG Global X Dow 30 Covered Call & Growth ETF	9.54%	9.63%	16.55%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DDM and DYLG in my portfolio?

With a correlation of 0.98, DDM and DYLG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DDM or DYLG?

DDM has higher volatility (5.95%) compared to DYLG (2.46%). In terms of maximum drawdown, DDM dropped -81.70% vs DYLG's -13.98%.

Which ETF is better, DDM or DYLG?

On 1-year performance, DDM leads with 36.48% vs 17.86% for DYLG. On fees, DYLG is cheaper at 0.35% per year. On volatility, DYLG has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDM or DYLG?

Over the 1-year period, DDM has performed better with a 36.48% return vs 17.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDM or DYLG?

DYLG is cheaper with a 0.35% expense ratio, compared with 0.95% for DDM.

Which ETF pays a higher dividend yield, DDM or DYLG?

DYLG has the higher dividend yield at 9.54%, compared with 0.91% for DDM.

What is the main difference between DDM and DYLG?

DDM is categorized as Leveraged Equities, while DYLG is Derivative Income. DDM tracks Dow Jones Industrial Average Index (200%), while DYLG tracks Cboe DJIA Half BuyWrite Index - Benchmark TR Gross. They also come from different issuers: ProShares and Global X. Their fees differ too: 0.95% for DDM and 0.35% for DYLG.

Which has better risk-adjusted returns?

DYLG currently has the higher Sharpe Ratio (1.90 vs 1.51), 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.