DIG vs. FMUB
DIG (ProShares Ultra Oil & Gas) and FMUB (Fidelity Municipal Bond Opportunities ETF) are both exchange-traded funds - DIG is a Leveraged Equities fund tracking the Dow Jones U.S. Oil & Gas Index (200%), while FMUB is a Municipal Bonds fund actively managed by Fidelity. DIG is passively managed, while FMUB is actively managed. Over the past year, DIG returned 86.02% vs 4.81% for FMUB. Their -0.20 correlation means they have often moved in opposite directions in the past. DIG charges 0.95%/yr vs 0.30%/yr for FMUB.
Performance
DIG vs. FMUB - Performance Comparison
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Returns By Period
In the year-to-date period, DIG achieves a 70.78% return, which is significantly higher than FMUB's 0.94% return.
DIG
- 1D
- 1.88%
- 1M
- 24.18%
- 6M
- 32.46%
- YTD
- 70.78%
- 1Y
- 86.02%
- 3Y*
- 17.43%
- 5Y*
- 34.85%
- 10Y*
- 6.01%
- ALL TIME*
- 0.10%
FMUB
- 1D
- -0.13%
- 1M
- -1.59%
- 6M
- 0.32%
- YTD
- 0.94%
- 1Y
- 4.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.08M | $2.37M | $2.40M | |
| $1.86M | $2.43M | $1.70M |
DIG vs. FMUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DIG ProShares Ultra Oil & Gas | 70.78% | 23.66% |
FMUB Fidelity Municipal Bond Opportunities ETF | 0.94% | 4.69% |
Correlation
The correlation between DIG and FMUB is -0.32, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.32 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025 | -0.20 |
The correlation between DIG and FMUB shifts across timeframes, from -0.32 (1 year) to -0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DIG vs. FMUB — Risk / Return Rank
DIG
FMUB
DIG vs. FMUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) and Fidelity Municipal Bond Opportunities ETF (FMUB). 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.
| DIG | FMUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.14 | +0.53 |
| Martin ratioReturn relative to average drawdown | 6.82 | 7.91 | -1.10 |
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Drawdowns
DIG vs. FMUB - Drawdown Comparison
The maximum DIG drawdown since its inception was -97.04%, which is greater than FMUB's maximum drawdown of -2.74%. Use the drawdown chart below to compare losses from any high point for DIG and FMUB.
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Drawdown Indicators
| DIG | FMUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.04% | -2.74% | -94.30% |
Max Drawdown (1Y)Largest decline over 1 year | -29.80% | -2.49% | -27.31% |
Max Drawdown (3Y)Largest decline over 3 years | -42.41% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -46.02% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -92.53% | — | — |
Current DrawdownCurrent decline from peak | -49.97% | -1.62% | -48.35% |
Average DrawdownAverage peak-to-trough decline | -64.28% | -0.48% | -63.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.70% | 0.67% | +11.03% |
Volatility
DIG vs. FMUB - Volatility Comparison
ProShares Ultra Oil & Gas (DIG) has a higher volatility of 12.02% compared to Fidelity Municipal Bond Opportunities ETF (FMUB) at 0.86%. This indicates that DIG's price experiences larger fluctuations and is considered to be riskier than FMUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIG | FMUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.02% | 0.86% | +11.16% |
Volatility (6M)Calculated over the trailing 6-month period | 33.59% | 2.19% | +31.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.17% | 2.75% | +39.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.15% | 3.59% | +47.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.78% | 3.59% | +54.19% |
DIG vs. FMUB - Expense Ratio Comparison
DIG has a 0.95% expense ratio, which is higher than FMUB's 0.30% expense ratio.
Dividends
DIG vs. FMUB - Dividend Comparison
DIG's dividend yield for the trailing twelve months is around 1.45%, less than FMUB's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 1.45% | 2.62% | 3.13% | 0.61% | 1.33% | 2.24% | 3.18% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% |
FMUB Fidelity Municipal Bond Opportunities ETF | 3.55% | 2.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DIG and FMUB have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIG has higher volatility (12.02%) compared to FMUB (0.86%). In terms of maximum drawdown, DIG dropped -97.04% vs FMUB's -2.74%.
On 1-year performance, DIG leads with 86.02% vs 4.81% for FMUB. On fees, FMUB is cheaper at 0.30% per year. On volatility, FMUB has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DIG has performed better with a 86.02% return vs 4.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FMUB is cheaper with a 0.30% expense ratio, compared with 0.95% for DIG.
FMUB has the higher dividend yield at 3.55%, compared with 1.45% for DIG.
DIG is categorized as Leveraged Equities, while FMUB is Municipal Bonds. They also come from different issuers: ProShares and Fidelity. Their fees differ too: 0.95% for DIG and 0.30% for FMUB.
FMUB currently has the higher Sharpe Ratio (1.96 vs 1.89), 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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