DDM vs. UYG

Last updated Jun 16, 2026

DDM (ProShares Ultra Dow30) and UYG (ProShares Ultra Financials) are both Leveraged Equities funds from ProShares - DDM tracks the Dow Jones Industrial Average Index (200%) while UYG tracks the Dow Jones U.S. Financials Index (200%). Both are passively managed. Over the past 10 years, DDM returned 20.11%/yr vs 17.78%/yr for UYG. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.

Performance

DDM vs. UYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Dow30 (DDM) and ProShares Ultra Financials (UYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDM achieves a 13.44% return, which is significantly higher than UYG's -7.22% return. Over the past 10 years, DDM has outperformed UYG with an annualized return of 20.11%, while UYG has yielded a comparatively lower 17.78% annualized return.

DDM

• 1D: 2.06%
• 1M: 8.82%
• YTD: 13.44%
• 6M: 11.46%
• 1Y: 44.05%
• 3Y*: 25.17%
• 5Y*: 13.72%
• 10Y*: 20.11%

UYG

• 1D: 0.69%
• 1M: 8.96%
• YTD: -7.22%
• 6M: -7.53%
• 1Y: 9.46%
• 3Y*: 28.71%
• 5Y*: 11.18%
• 10Y*: 17.78%

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

DDM vs. UYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDM ProShares Ultra Dow30	13.44%	20.59%	21.60%	24.34%	-19.48%	41.97%	2.14%	47.98%	-13.46%	59.56%
UYG ProShares Ultra Financials	-7.22%	19.77%	55.71%	22.14%	-32.11%	76.26%	-20.32%	66.15%	-22.61%	39.28%

Correlation

The correlation between DDM and UYG is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007	0.84

The correlation between DDM and UYG has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

DDM vs. UYG - Sectors Allocation Comparison

Sectors	DDM	UYG
Financial Services	34.9%	98.0%
Technology	13.3%	1.8%
Industrials	13.0%	0.2%
Healthcare	9.6%	-
Consumer Cyclical	7.7%	-
Consumer Defensive	3.0%	-
Basic Materials	2.7%	-
Energy	1.6%	-
Communication Services	1.3%	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DDM vs. UYG — Risk / Return Rank

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

DDM

DDM Risk / Return Rank: 54
DDM Sharpe Ratio Rank: 58
DDM Sortino Ratio Rank: 57
DDM Omega Ratio Rank: 52
DDM Calmar Ratio Rank: 50
DDM Martin Ratio Rank: 53

UYG

UYG Risk / Return Rank: 14
UYG Sharpe Ratio Rank: 14
UYG Sortino Ratio Rank: 14
UYG Omega Ratio Rank: 14
UYG Calmar Ratio Rank: 13
UYG Martin Ratio Rank: 13

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. UYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Dow30 (DDM) and ProShares Ultra Financials (UYG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DDM	UYG	Difference
Sharpe ratio: Return per unit of total volatility	1.78	0.33	+1.45
Sortino ratio: Return per unit of downside risk	2.48	0.63	+1.85
Omega ratio: Gain probability vs. loss probability	1.30	1.08	+0.22
Calmar ratio: Return relative to maximum drawdown	2.29	0.33	+1.96
Martin ratio: Return relative to average drawdown	8.40	0.78	+7.62

DDM vs. UYG - Sharpe Ratio Comparison

The current DDM Sharpe Ratio is 1.78, which is higher than the UYG Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of DDM and UYG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DDM vs. UYG - Drawdown Comparison

The maximum DDM drawdown since its inception was -81.70%, smaller than the maximum UYG drawdown of -97.90%. Use the drawdown chart below to compare losses from any high point for DDM and UYG.

Drawdown Indicators

	DDM	UYG	Difference
Max Drawdown Largest peak-to-trough decline	-81.70%	-97.90%	+16.20%
Max Drawdown (1Y) Largest decline over 1 year	-19.31%	-28.91%	+9.60%
Max Drawdown (3Y) Largest decline over 3 years	-31.62%	-30.35%	-1.27%
Max Drawdown (5Y) Largest decline over 5 years	-40.18%	-47.77%	+7.59%
Max Drawdown (10Y) Largest decline over 10 years	-63.13%	-69.98%	+6.85%
Current Drawdown Current decline from peak	0.00%	-12.37%	+12.37%
Average Drawdown Average peak-to-trough decline	-17.30%	-63.28%	+45.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.26%	12.17%	-6.91%

Volatility

DDM vs. UYG - Volatility Comparison

ProShares Ultra Dow30 (DDM) has a higher volatility of 8.81% compared to ProShares Ultra Financials (UYG) at 8.33%. This indicates that DDM's price experiences larger fluctuations and is considered to be riskier than UYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDM	UYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.81%	8.33%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	19.55%	22.24%	-2.69%
Volatility (1Y) Calculated over the trailing 1-year period	24.92%	29.13%	-4.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.69%	36.23%	-6.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.83%	41.07%	-6.24%

DDM vs. UYG - Expense Ratio Comparison

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

Dividends

DDM vs. UYG - Dividend Comparison

DDM's dividend yield for the trailing twelve months is around 0.88%, less than UYG's 12.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDM ProShares Ultra Dow30	0.88%	0.94%	1.00%	0.27%	0.83%	0.18%	0.31%	0.62%	0.89%	0.68%	1.08%	1.23%
UYG ProShares Ultra Financials	12.59%	11.72%	0.51%	0.79%	0.77%	9.39%	0.66%	0.90%	1.28%	0.56%	0.76%	0.72%

Frequently Asked Questions

Can I hold both DDM and UYG in my portfolio?

DDM and UYG have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDM or UYG?

DDM has higher volatility (8.81%) compared to UYG (8.33%). In terms of maximum drawdown, DDM dropped -81.70% vs UYG's -97.90%.

Which ETF is better, DDM or UYG?

On 10-year performance, DDM leads with 20.11% vs 17.78% for UYG. Both ETFs have the same 0.95% expense ratio. On volatility, UYG has been the lower-risk option at 8.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDM or UYG?

Over the 10-year period, DDM has performed better with a 20.11% return vs 17.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDM or UYG?

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

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

UYG has the higher dividend yield at 12.59%, compared with 0.88% for DDM.

What is the main difference between DDM and UYG?

DDM tracks Dow Jones Industrial Average Index (200%), while UYG tracks Dow Jones U.S. Financials Index (200%).

Which has better risk-adjusted returns?

DDM currently has the higher Sharpe Ratio (1.78 vs 0.33), 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.