DIG vs. PYPG

Last updated Jul 18, 2026

DIG (ProShares Ultra Oil & Gas) and PYPG (Leverage Shares 2X Long PYPL Daily ETF) are both Leveraged Equities funds. DIG is passively managed, while PYPG is actively managed. Over the past year, DIG returned 70.16% vs -56.05% for PYPG. At a 0.04 correlation, their price movements are largely independent. DIG charges 0.95%/yr vs 0.75%/yr for PYPG.

Performance

DIG vs. PYPG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Oil & Gas (DIG) and Leverage Shares 2X Long PYPL Daily ETF (PYPG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIG achieves a 60.73% return, which is significantly higher than PYPG's -23.41% return.

DIG

• 1D: 2.36%
• 1M: 11.98%
• 6M: 42.21%
• YTD: 60.73%
• 1Y: 70.16%
• 3Y*: 19.53%
• 5Y*: 33.82%
• 10Y*: 4.21%

PYPG

• 1D: 4.02%
• 1M: 61.13%
• 6M: -18.36%
• YTD: -23.41%
• 1Y: -56.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIG vs. PYPG - Yearly Performance Comparison

	2026 (YTD)	2025
DIG ProShares Ultra Oil & Gas	60.73%	2.00%
PYPG Leverage Shares 2X Long PYPL Daily ETF	-23.41%	-20.19%

Correlation

The correlation between DIG and PYPG is -0.03, 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	-0.03
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.04

Return for Risk

DIG vs. PYPG — Risk / Return Rank

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

DIG

DIG Risk / Return Rank: 56
DIG Sharpe Ratio Rank: 65
DIG Sortino Ratio Rank: 56
DIG Omega Ratio Rank: 53
DIG Calmar Ratio Rank: 60
DIG Martin Ratio Rank: 46

PYPG

PYPG Risk / Return Rank: 4
PYPG Sharpe Ratio Rank: 4
PYPG Sortino Ratio Rank: 5
PYPG Omega Ratio Rank: 4
PYPG Calmar Ratio Rank: 4
PYPG Martin Ratio Rank: 5

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.

DIG vs. PYPG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) and Leverage Shares 2X Long PYPL Daily ETF (PYPG). 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	PYPG	Difference
Sharpe ratio: Return per unit of total volatility	1.68	-0.66	+2.34
Sortino ratio: Return per unit of downside risk	2.15	-0.67	+2.82
Omega ratio: Gain probability vs. loss probability	1.26	0.91	+0.36
Calmar ratio: Return relative to maximum drawdown	2.37	-0.71	+3.07
Martin ratio: Return relative to average drawdown	6.11	-1.00	+7.11

DIG vs. PYPG - Sharpe Ratio Comparison

The current DIG Sharpe Ratio is 1.68, which is higher than the PYPG Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of DIG and PYPG, 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

DIG vs. PYPG - Drawdown Comparison

The maximum DIG drawdown since its inception was -97.04%, which is greater than PYPG's maximum drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for DIG and PYPG.

Drawdown Indicators

	DIG	PYPG	Difference
Max Drawdown Largest peak-to-trough decline	-97.04%	-79.52%	-17.52%
Max Drawdown (1Y) Largest decline over 1 year	-29.80%	-79.52%	+49.72%
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 Drawdown Current decline from peak	-52.91%	-61.72%	+8.81%
Average Drawdown Average peak-to-trough decline	-64.30%	-41.31%	-22.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.51%	56.30%	-44.79%

Volatility

DIG vs. PYPG - Volatility Comparison

The current volatility for ProShares Ultra Oil & Gas (DIG) is 12.47%, while Leverage Shares 2X Long PYPL Daily ETF (PYPG) has a volatility of 34.53%. This indicates that DIG experiences smaller price fluctuations and is considered to be less risky than PYPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIG	PYPG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.47%	34.53%	-22.06%
Volatility (6M) Calculated over the trailing 6-month period	33.20%	77.11%	-43.91%
Volatility (1Y) Calculated over the trailing 1-year period	41.90%	85.35%	-43.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.34%	83.28%	-31.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.79%	83.28%	-25.49%

DIG vs. PYPG - Expense Ratio Comparison

DIG has a 0.95% expense ratio, which is higher than PYPG's 0.75% expense ratio.

Dividends

DIG vs. PYPG - Dividend Comparison

DIG's dividend yield for the trailing twelve months is around 1.54%, while PYPG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIG ProShares Ultra Oil & Gas	1.54%	2.62%	3.13%	0.61%	1.33%	2.24%	3.18%	2.72%	2.30%	1.76%	1.09%	1.56%
PYPG Leverage Shares 2X Long PYPL Daily 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

Can I hold both DIG and PYPG in my portfolio?

DIG and PYPG have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIG or PYPG?

PYPG has higher volatility (34.53%) compared to DIG (12.47%). In terms of maximum drawdown, DIG dropped -97.04% vs PYPG's -79.52%.

Which ETF is better, DIG or PYPG?

On 1-year performance, DIG leads with 70.16% vs -56.05% for PYPG. On fees, PYPG is cheaper at 0.75% per year. On volatility, DIG has been the lower-risk option at 12.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIG or PYPG?

Over the 1-year period, DIG has performed better with a 70.16% return vs -56.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIG or PYPG?

PYPG is cheaper with a 0.75% expense ratio, compared with 0.95% for DIG.

Which ETF pays a higher dividend yield, DIG or PYPG?

DIG has the higher dividend yield at 1.54%, compared with 0.00% for PYPG.

What is the main difference between DIG and PYPG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for DIG and 0.75% for PYPG.

Which has better risk-adjusted returns?

DIG currently has the higher Sharpe Ratio (1.68 vs -0.66), 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.