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DDM vs. UVXY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DDM vs. UVXY

Last updated Jun 3, 2026

DDM (ProShares Ultra Dow30) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - DDM is a Leveraged Equities fund tracking the Dow Jones Industrial Average Index (200%), while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, DDM returned 19.78%/yr vs -72.66%/yr for UVXY. At a correlation of -0.72, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

DDM vs. UVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Dow30 (DDM) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DDM achieves a 11.91% return, which is significantly higher than UVXY's -18.87% return. Over the past 10 years, DDM has outperformed UVXY with an annualized return of 19.78%, while UVXY has yielded a comparatively lower -72.66% annualized return.

DDM

1D
0.92%
1M
7.36%
YTD
11.91%
6M
14.33%
1Y
41.13%
3Y*
25.91%
5Y*
12.69%
10Y*
19.78%

UVXY

1D
-2.67%
1M
-20.98%
YTD
-18.87%
6M
-37.65%
1Y
-73.66%
3Y*
-64.52%
5Y*
-68.37%
10Y*
-72.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DDM vs. UVXY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DDM
ProShares Ultra Dow30		11.91%20.59%21.60%24.34%-19.48%41.97%2.14%47.98%-13.46%59.56%
UVXY
ProShares Ultra VIX Short-Term Futures ETF		-18.87%-65.32%-50.90%-87.70%-44.81%-88.33%-17.38%-84.23%60.10%-94.17%

Correlation

The correlation between DDM and UVXY is -0.68, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.68

Correlation (3Y)
Calculated over the trailing 3-year period

-0.64

Correlation (5Y)
Calculated over the trailing 5-year period

-0.69

Correlation (10Y)
Calculated over the trailing 10-year period

-0.69

Correlation (All Time)
Calculated using the full available price history since Oct 5, 2011

-0.72

The correlation between DDM and UVXY has been stable across timeframes, ranging from -0.72 to -0.64 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Ultra Dow30

ProShares Ultra VIX Short-Term Futures ETF

Often compared with DDM:
DDM vs. UDOWDDM vs. DIADDM vs. SPUUDDM vs. DJDDDM vs. IXCDDM vs. ^SP500TRDDM vs. SCHD
Often compared with UVXY:
UVXY vs. UVIXUVXY vs. VXXUVXY vs. VIXYUVXY vs. SVXYUVXY vs. SQQQUVXY vs. SPYUVXY vs. SPXS

Return for Risk

DDM vs. UVXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DDM
DDM Risk / Return Rank: 4646
Overall Rank
DDM Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
DDM Sortino Ratio Rank: 4848
Sortino Ratio Rank
DDM Omega Ratio Rank: 4545
Omega Ratio Rank
DDM Calmar Ratio Rank: 4343
Calmar Ratio Rank
DDM Martin Ratio Rank: 4747
Martin Ratio Rank
UVXY
UVXY Risk / Return Rank: 11
Overall Rank
UVXY Sharpe Ratio Rank: 22
Sharpe Ratio Rank
UVXY Sortino Ratio Rank: 11
Sortino Ratio Rank
UVXY Omega Ratio Rank: 11
Omega Ratio Rank
UVXY Calmar Ratio Rank: 00
Calmar Ratio Rank
UVXY Martin Ratio Rank: 22
Martin Ratio Rank
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. UVXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Dow30 (DDM) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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.

DDMUVXYDifference

Sharpe ratio

Return per unit of total volatility

1.71

-0.87

+2.59

Sortino ratio

Return per unit of downside risk

2.40

-1.65

+4.05

Omega ratio

Gain probability vs. loss probability

1.29

0.81

+0.48

Calmar ratio

Return relative to maximum drawdown

2.16

-0.99

+3.15

Martin ratio

Return relative to average drawdown

7.95

-1.34

+9.28

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DDM vs. UVXY - Sharpe Ratio Comparison

The current DDM Sharpe Ratio is 1.71, which is higher than the UVXY Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of DDM and UVXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DDMUVXYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.71

-0.87

+2.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

-0.66

+1.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

-0.64

+1.21

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

-0.68

+1.07

Drawdowns

DDM vs. UVXY - Drawdown Comparison

The maximum DDM drawdown since its inception was -81.70%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for DDM and UVXY.

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Drawdown Indicators

DDMUVXYDifference

Max Drawdown

Largest peak-to-trough decline

-81.70%

-100.00%

+18.30%

Max Drawdown (1Y)

Largest decline over 1 year

-19.31%

-75.22%

+55.91%

Max Drawdown (3Y)

Largest decline over 3 years

-31.62%

-95.59%

+63.97%

Max Drawdown (5Y)

Largest decline over 5 years

-40.18%

-99.68%

+59.50%

Max Drawdown (10Y)

Largest decline over 10 years

-63.13%

-100.00%

+36.87%

Current Drawdown

Current decline from peak

0.00%

-100.00%

+100.00%

Average Drawdown

Average peak-to-trough decline

-17.33%

-98.55%

+81.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.25%

55.43%

-50.18%

Volatility

DDM vs. UVXY - Volatility Comparison

The current volatility for ProShares Ultra Dow30 (DDM) is 5.91%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.97%. This indicates that DDM experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DDMUVXYDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.91%

11.97%

-6.06%

Volatility (6M)

Calculated over the trailing 6-month period

18.55%

62.65%

-44.10%

Volatility (1Y)

Calculated over the trailing 1-year period

24.12%

84.44%

-60.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.51%

103.85%

-74.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

34.76%

113.85%

-79.09%

DDM vs. UVXY - Expense Ratio Comparison

Both DDM and UVXY have an expense ratio of 0.95%.

Dividends

DDM vs. UVXY - Dividend Comparison

DDM's dividend yield for the trailing twelve months is around 0.89%, while UVXY has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
DDM
ProShares Ultra Dow30		0.89%0.94%1.00%0.27%0.83%0.18%0.31%0.62%0.89%0.68%1.08%1.23%
UVXY
ProShares Ultra VIX Short-Term Futures ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

DDM and UVXY have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UVXY has higher volatility (11.97%) compared to DDM (5.91%). In terms of maximum drawdown, DDM dropped -81.70% vs UVXY's -100.00%.

On 10-year performance, DDM leads with 19.78% vs -72.66% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, DDM has been the lower-risk option at 5.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DDM has performed better with a 19.78% return vs -72.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DDM and UVXY have the same expense ratio: 0.95% per year.

DDM has the higher dividend yield at 0.89%, compared with 0.00% for UVXY.

DDM is categorized as Leveraged Equities, while UVXY is Volatility. DDM tracks Dow Jones Industrial Average Index (200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).

DDM currently has the higher Sharpe Ratio (1.71 vs -0.87), 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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