DDM vs. XLE

Last updated Jun 14, 2026

DDM (ProShares Ultra Dow30) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - DDM is a Leveraged Equities fund tracking the Dow Jones Industrial Average Index (200%), while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past 10 years, DDM returned 19.87%/yr vs 9.91%/yr for XLE. A 0.60 correlation means they provide meaningful diversification when combined. DDM charges 0.95%/yr vs 0.08%/yr for XLE.

Performance

DDM vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Dow30 (DDM) and State Street Energy Select Sector SPDR ETF (XLE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDM achieves a 11.15% return, which is significantly lower than XLE's 29.56% return. Over the past 10 years, DDM has outperformed XLE with an annualized return of 19.87%, while XLE has yielded a comparatively lower 9.91% annualized return.

DDM

• 1D: 1.45%
• 1M: 4.37%
• YTD: 11.15%
• 6M: 9.08%
• 1Y: 41.14%
• 3Y*: 24.56%
• 5Y*: 12.67%
• 10Y*: 19.87%

XLE

• 1D: 0.75%
• 1M: -0.90%
• YTD: 29.56%
• 6M: 28.37%
• 1Y: 34.84%
• 3Y*: 16.18%
• 5Y*: 20.12%
• 10Y*: 9.91%

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

DDM vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDM ProShares Ultra Dow30	11.15%	20.59%	21.60%	24.34%	-19.48%	41.97%	2.14%	47.98%	-13.46%	59.56%
XLE State Street Energy Select Sector SPDR ETF	29.56%	7.88%	5.56%	-0.63%	64.32%	53.28%	-32.67%	11.74%	-18.22%	-0.89%

Correlation

The correlation between DDM and XLE is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	0.60

The correlation between DDM and XLE shifts across timeframes, from -0.05 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.

DDM vs. XLE - Sectors Allocation Comparison

Sectors	DDM	XLE
Financial Services	34.9%	-
Technology	13.3%	-
Industrials	13.0%	-
Healthcare	9.6%	-
Consumer Cyclical	7.7%	-
Consumer Defensive	3.0%	-
Basic Materials	2.7%	-
Energy	1.6%	100.0%
Communication Services	1.3%	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DDM vs. XLE — Risk / Return Rank

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

DDM

DDM Risk / Return Rank: 46
DDM Sharpe Ratio Rank: 47
DDM Sortino Ratio Rank: 47
DDM Omega Ratio Rank: 44
DDM Calmar Ratio Rank: 43
DDM Martin Ratio Rank: 47

XLE

XLE Risk / Return Rank: 61
XLE Sharpe Ratio Rank: 64
XLE Sortino Ratio Rank: 58
XLE Omega Ratio Rank: 54
XLE Calmar Ratio Rank: 71
XLE Martin Ratio Rank: 56

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. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Dow30 (DDM) and State Street Energy Select Sector SPDR ETF (XLE). 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	XLE	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.82	-0.38
Sortino ratio: Return per unit of downside risk	2.07	2.40	-0.33
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	1.87	3.10	-1.23
Martin ratio: Return relative to average drawdown	6.86	8.63	-1.77

DDM vs. XLE - Sharpe Ratio Comparison

The current DDM Sharpe Ratio is 1.44, which is comparable to the XLE Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of DDM and XLE, 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. XLE - Drawdown Comparison

The maximum DDM drawdown since its inception was -81.70%, which is greater than XLE's maximum drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for DDM and XLE.

Drawdown Indicators

	DDM	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-81.70%	-71.26%	-10.44%
Max Drawdown (1Y) Largest decline over 1 year	-19.31%	-12.05%	-7.26%
Max Drawdown (3Y) Largest decline over 3 years	-31.62%	-20.14%	-11.48%
Max Drawdown (5Y) Largest decline over 5 years	-40.18%	-26.04%	-14.14%
Max Drawdown (10Y) Largest decline over 10 years	-63.13%	-66.81%	+3.68%
Current Drawdown Current decline from peak	-1.61%	-8.01%	+6.40%
Average Drawdown Average peak-to-trough decline	-17.31%	-17.97%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	4.32%	+0.96%

Volatility

DDM vs. XLE - Volatility Comparison

ProShares Ultra Dow30 (DDM) has a higher volatility of 8.72% compared to State Street Energy Select Sector SPDR ETF (XLE) at 7.26%. This indicates that DDM's price experiences larger fluctuations and is considered to be riskier than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDM	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.72%	7.26%	+1.46%
Volatility (6M) Calculated over the trailing 6-month period	19.64%	16.79%	+2.85%
Volatility (1Y) Calculated over the trailing 1-year period	25.09%	20.57%	+4.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.67%	26.05%	+3.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.81%	29.58%	+5.23%

DDM vs. XLE - Expense Ratio Comparison

DDM has a 0.95% expense ratio, which is higher than XLE's 0.08% expense ratio.

Dividends

DDM vs. XLE - Dividend Comparison

DDM's dividend yield for the trailing twelve months is around 0.90%, less than XLE's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDM ProShares Ultra Dow30	0.90%	0.94%	1.00%	0.27%	0.83%	0.18%	0.31%	0.62%	0.89%	0.68%	1.08%	1.23%
XLE State Street Energy Select Sector SPDR ETF	2.59%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%

Frequently Asked Questions

Can I hold both DDM and XLE in my portfolio?

DDM and XLE have a correlation of -0.05, 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 XLE?

DDM has higher volatility (8.72%) compared to XLE (7.26%). In terms of maximum drawdown, DDM dropped -81.70% vs XLE's -71.26%.

Which ETF is better, DDM or XLE?

On 10-year performance, DDM leads with 19.87% vs 9.91% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, XLE has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDM or XLE?

Over the 10-year period, DDM has performed better with a 19.87% return vs 9.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDM or XLE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.95% for DDM.

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

XLE has the higher dividend yield at 2.59%, compared with 0.90% for DDM.

What is the main difference between DDM and XLE?

DDM is categorized as Leveraged Equities, while XLE is Energy Equities. DDM tracks Dow Jones Industrial Average Index (200%), while XLE tracks Energy Select Sector Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for DDM and 0.08% for XLE.

Which has better risk-adjusted returns?

XLE currently has the higher Sharpe Ratio (1.82 vs 1.44), 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.