DIG vs. USD

Last updated Jun 5, 2026

DIG (ProShares Ultra Oil & Gas) and USD (ProShares Ultra Semiconductors) are both Leveraged Equities funds from ProShares - DIG tracks the Dow Jones U.S. Oil & Gas Index (200%) while USD tracks the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, DIG returned 4.90%/yr vs 61.24%/yr for USD. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

DIG vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Oil & Gas (DIG) 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, DIG achieves a 66.82% return, which is significantly lower than USD's 103.32% return. Over the past 10 years, DIG has underperformed USD with an annualized return of 4.90%, while USD has yielded a comparatively higher 61.24% annualized return.

DIG

• 1D: 0.28%
• 1M: -3.40%
• YTD: 66.82%
• 6M: 58.48%
• 1Y: 98.04%
• 3Y*: 24.00%
• 5Y*: 28.36%
• 10Y*: 4.90%

USD

• 1D: -4.99%
• 1M: 31.62%
• YTD: 103.32%
• 6M: 97.79%
• 1Y: 250.81%
• 3Y*: 125.78%
• 5Y*: 67.80%
• 10Y*: 61.24%

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

DIG vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIG ProShares Ultra Oil & Gas	66.82%	2.73%	0.93%	-13.04%	125.34%	115.63%	-70.36%	12.51%	-40.11%	-7.39%
USD ProShares Ultra Semiconductors	103.32%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	81.72%

Correlation

The correlation between DIG and USD is -0.13, 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	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007	0.41

The correlation between DIG and USD shifts across timeframes, from -0.13 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

DIG vs. USD - Sectors Allocation Comparison

Sectors	DIG	USD
Energy	61.8%	0.0%
Financial Services	6.0%	27.8%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	27.4%
Utilities	-	-

Return for Risk

DIG vs. USD — Risk / Return Rank

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

DIG

DIG Risk / Return Rank: 68
DIG Sharpe Ratio Rank: 76
DIG Sortino Ratio Rank: 60
DIG Omega Ratio Rank: 58
DIG Calmar Ratio Rank: 82
DIG Martin Ratio Rank: 65

USD

USD Risk / Return Rank: 89
USD Sharpe Ratio Rank: 96
USD Sortino Ratio Rank: 82
USD Omega Ratio Rank: 81
USD Calmar Ratio Rank: 95
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.

DIG vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) 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.

	DIG	USD	Difference
Sharpe ratio: Return per unit of total volatility	2.43	4.12	-1.70
Sortino ratio: Return per unit of downside risk	2.78	3.62	-0.83
Omega ratio: Gain probability vs. loss probability	1.35	1.48	-0.13
Calmar ratio: Return relative to maximum drawdown	4.23	7.94	-3.71
Martin ratio: Return relative to average drawdown	11.54	22.96	-11.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIG vs. USD - Sharpe Ratio Comparison

The current DIG Sharpe Ratio is 2.43, which is lower than the USD Sharpe Ratio of 4.12. The chart below compares the historical Sharpe Ratios of DIG 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.

Sharpe Ratios by Period

	DIG	USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	4.12	-1.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.89	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	0.89	-0.80
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.49	-0.49

Drawdowns

DIG vs. USD - Drawdown Comparison

The maximum DIG drawdown since its inception was -97.04%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for DIG and USD.

Drawdown Indicators

	DIG	USD	Difference
Max Drawdown Largest peak-to-trough decline	-97.04%	-88.63%	-8.41%
Max Drawdown (1Y) Largest decline over 1 year	-23.29%	-31.80%	+8.51%
Max Drawdown (3Y) Largest decline over 3 years	-42.41%	-64.46%	+22.05%
Max Drawdown (5Y) Largest decline over 5 years	-46.02%	-77.85%	+31.83%
Max Drawdown (10Y) Largest decline over 10 years	-92.53%	-77.85%	-14.68%
Current Drawdown Current decline from peak	-51.13%	-6.07%	-45.06%
Average Drawdown Average peak-to-trough decline	-64.36%	-32.35%	-32.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.52%	10.98%	-2.46%

Volatility

DIG vs. USD - Volatility Comparison

The current volatility for ProShares Ultra Oil & Gas (DIG) is 16.57%, while ProShares Ultra Semiconductors (USD) has a volatility of 21.29%. This indicates that DIG 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

	DIG	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.57%	21.29%	-4.72%
Volatility (6M) Calculated over the trailing 6-month period	33.00%	46.74%	-13.74%
Volatility (1Y) Calculated over the trailing 1-year period	40.83%	61.28%	-20.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.59%	76.56%	-24.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.80%	69.24%	-11.44%

DIG vs. USD - Expense Ratio Comparison

Both DIG and USD have an expense ratio of 0.95%.

Dividends

DIG vs. USD - Dividend Comparison

DIG's dividend yield for the trailing twelve months is around 1.49%, more than USD's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIG ProShares Ultra Oil & Gas	1.49%	2.62%	3.13%	0.61%	1.33%	2.24%	3.18%	2.72%	2.30%	1.76%	1.09%	1.56%
USD ProShares Ultra Semiconductors	0.23%	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 DIG and USD in my portfolio?

DIG and USD have a correlation of -0.13, 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 USD?

USD has higher volatility (21.29%) compared to DIG (16.57%). In terms of maximum drawdown, DIG dropped -97.04% vs USD's -88.63%.

Which ETF is better, DIG or USD?

On 10-year performance, USD leads with 61.24% vs 4.90% for DIG. Both ETFs have the same 0.95% expense ratio. On volatility, DIG has been the lower-risk option at 16.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIG or USD?

Over the 10-year period, USD has performed better with a 61.24% return vs 4.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIG or USD?

DIG and USD have the same expense ratio: 0.95% per year.

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

DIG has the higher dividend yield at 1.49%, compared with 0.23% for USD.

What is the main difference between DIG and USD?

DIG tracks Dow Jones U.S. Oil & Gas Index (200%), while USD tracks Dow Jones U.S. Semiconductors Index (200%).

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (4.12 vs 2.43), 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.