DHS vs. USD

Last updated Jun 23, 2026

DHS (WisdomTree US High Dividend Fund) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - DHS is a Large Cap Value Equities fund tracking the WisdomTree U.S. High Dividend Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, DHS returned 9.64%/yr vs 63.16%/yr for USD. A 0.50 correlation means they provide meaningful diversification when combined. DHS charges 0.38%/yr vs 0.95%/yr for USD.

Performance

DHS vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree US High Dividend Fund (DHS) and ProShares Ultra Semiconductors (USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DHS achieves a 11.70% return, which is significantly lower than USD's 110.66% return. Over the past 10 years, DHS has underperformed USD with an annualized return of 9.64%, while USD has yielded a comparatively higher 63.16% annualized return.

DHS

• 1D: 0.55%
• 1M: -0.98%
• YTD: 11.70%
• 6M: 11.36%
• 1Y: 21.93%
• 3Y*: 17.26%
• 5Y*: 11.67%
• 10Y*: 9.64%

USD

• 1D: 1.64%
• 1M: 16.06%
• YTD: 110.66%
• 6M: 113.42%
• 1Y: 253.70%
• 3Y*: 123.90%
• 5Y*: 68.54%
• 10Y*: 63.16%

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

DHS vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHS WisdomTree US High Dividend Fund	11.70%	12.87%	18.02%	-0.19%	7.97%	23.20%	-5.70%	22.59%	-7.41%	11.69%
USD ProShares Ultra Semiconductors	110.66%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	81.72%

Correlation

The correlation between DHS and USD is -0.10, 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	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007	0.50

The correlation between DHS and USD shifts across timeframes, from -0.10 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

DHS vs. USD - Sectors Allocation Comparison

Sectors	DHS	USD
Financial Services	22.1%	26.0%
Consumer Defensive	18.5%	-
Healthcare	14.9%	-
Communication Services	9.0%	-
Energy	8.8%	0.0%
Utilities	8.7%	-
Consumer Cyclical	5.6%	-
Industrials	4.2%	-
Technology	4.1%	26.3%
Real Estate	2.9%	-
Basic Materials	1.2%	-

Return for Risk

DHS vs. USD — Risk / Return Rank

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

DHS

DHS Risk / Return Rank: 70
DHS Sharpe Ratio Rank: 69
DHS Sortino Ratio Rank: 75
DHS Omega Ratio Rank: 64
DHS Calmar Ratio Rank: 72
DHS Martin Ratio Rank: 70

USD

USD Risk / Return Rank: 89
USD Sharpe Ratio Rank: 96
USD Sortino Ratio Rank: 79
USD Omega Ratio Rank: 81
USD Calmar Ratio Rank: 96
USD Martin Ratio Rank: 92

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.

DHS vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US High Dividend Fund (DHS) and ProShares Ultra Semiconductors (USD). 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.

	DHS	USD	Difference
Sharpe ratio: Return per unit of total volatility	2.17	3.83	-1.66
Sortino ratio: Return per unit of downside risk	3.21	3.35	-0.14
Omega ratio: Gain probability vs. loss probability	1.37	1.46	-0.09
Calmar ratio: Return relative to maximum drawdown	3.50	8.03	-4.54
Martin ratio: Return relative to average drawdown	12.69	22.36	-9.67

DHS vs. USD - Sharpe Ratio Comparison

The current DHS Sharpe Ratio is 2.17, which is lower than the USD Sharpe Ratio of 3.83. The chart below compares the historical Sharpe Ratios of DHS and USD, 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

DHS vs. USD - Drawdown Comparison

The maximum DHS drawdown since its inception was -67.25%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for DHS and USD.

Drawdown Indicators

	DHS	USD	Difference
Max Drawdown Largest peak-to-trough decline	-67.25%	-88.63%	+21.38%
Max Drawdown (1Y) Largest decline over 1 year	-6.30%	-31.80%	+25.50%
Max Drawdown (3Y) Largest decline over 3 years	-11.87%	-64.46%	+52.59%
Max Drawdown (5Y) Largest decline over 5 years	-15.28%	-77.85%	+62.57%
Max Drawdown (10Y) Largest decline over 10 years	-37.35%	-77.85%	+40.50%
Current Drawdown Current decline from peak	-1.98%	-2.68%	+0.70%
Average Drawdown Average peak-to-trough decline	-9.53%	-32.30%	+22.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	11.40%	-9.67%

Volatility

DHS vs. USD - Volatility Comparison

The current volatility for WisdomTree US High Dividend Fund (DHS) is 3.56%, while ProShares Ultra Semiconductors (USD) has a volatility of 31.13%. This indicates that DHS experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHS	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.56%	31.13%	-27.57%
Volatility (6M) Calculated over the trailing 6-month period	7.51%	52.43%	-44.92%
Volatility (1Y) Calculated over the trailing 1-year period	10.19%	66.85%	-56.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	77.52%	-63.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.10%	69.80%	-53.70%

DHS vs. USD - Expense Ratio Comparison

DHS has a 0.38% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

DHS vs. USD - Dividend Comparison

DHS's dividend yield for the trailing twelve months is around 3.30%, more than USD's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHS WisdomTree US High Dividend Fund	3.30%	3.32%	3.66%	4.31%	3.42%	3.29%	4.14%	3.69%	3.76%	3.00%	3.25%	3.53%
USD ProShares Ultra Semiconductors	0.22%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both DHS and USD in my portfolio?

DHS and USD have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DHS or USD?

USD has higher volatility (31.13%) compared to DHS (3.56%). In terms of maximum drawdown, DHS dropped -67.25% vs USD's -88.63%.

Which ETF is better, DHS or USD?

On 10-year performance, USD leads with 63.16% vs 9.64% for DHS. On fees, DHS is cheaper at 0.38% per year. On volatility, DHS has been the lower-risk option at 3.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DHS or USD?

Over the 10-year period, USD has performed better with a 63.16% return vs 9.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DHS or USD?

DHS is cheaper with a 0.38% expense ratio, compared with 0.95% for USD.

Which ETF pays a higher dividend yield, DHS or USD?

DHS has the higher dividend yield at 3.30%, compared with 0.22% for USD.

What is the main difference between DHS and USD?

DHS is categorized as Large Cap Value Equities, while USD is Leveraged Equities. DHS tracks WisdomTree U.S. High Dividend Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 0.38% for DHS and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (3.83 vs 2.17), 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.