DIG vs. UST
DIG (ProShares Ultra Oil & Gas) and UST (ProShares Ultra 7-10 Year Treasury) are both exchange-traded funds - DIG is a Leveraged Equities fund tracking the Dow Jones U.S. Oil & Gas Index (200%), while UST is a Leveraged Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 10 years, DIG returned 5.18%/yr vs -2.53%/yr for UST. Their -0.29 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
DIG vs. UST - Performance Comparison
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Returns By Period
In the year-to-date period, DIG achieves a 66.37% return, which is significantly higher than UST's -4.75% return. Over the past 10 years, DIG has outperformed UST with an annualized return of 5.18%, while UST has yielded a comparatively lower -2.53% annualized return.
DIG
- 1D
- -2.58%
- 1M
- 20.98%
- 6M
- 33.99%
- YTD
- 66.37%
- 1Y
- 81.22%
- 3Y*
- 16.66%
- 5Y*
- 35.08%
- 10Y*
- 5.18%
- ALL TIME*
- -0.04%
UST
- 1D
- 0.56%
- 1M
- -2.55%
- 6M
- -3.81%
- YTD
- -4.75%
- 1Y
- -2.66%
- 3Y*
- 0.46%
- 5Y*
- -8.21%
- 10Y*
- -2.53%
- ALL TIME*
- 2.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.23M | $2.48M | $2.42M | |
| $493.89K | $437.03K | $327.72K |
DIG vs. UST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 66.37% | 2.73% | 0.93% | -13.04% | 125.34% | 115.63% | -70.36% | 12.51% | -40.11% | -7.39% |
UST ProShares Ultra 7-10 Year Treasury | -4.75% | 10.26% | -6.19% | 0.16% | -30.19% | -7.81% | 18.83% | 13.34% | -1.09% | 3.21% |
Correlation
The correlation between DIG and UST is -0.28, 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. | -0.28 |
Correlation (3Y) Balances recent behavior with more history. | -0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2010 | -0.29 |
The correlation between DIG and UST shifts across timeframes, from -0.29 (all time) to -0.15 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DIG vs. UST — Risk / Return Rank
DIG
UST
DIG vs. UST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) and ProShares Ultra 7-10 Year Treasury (UST). 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 | UST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.24 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.96 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | -0.30 | +3.04 |
| Martin ratioReturn relative to average drawdown | 6.98 | -0.66 | +7.63 |
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Drawdowns
DIG vs. UST - Drawdown Comparison
The maximum DIG drawdown since its inception was -97.04%, which is greater than UST's maximum drawdown of -47.99%. Use the drawdown chart below to compare losses from any high point for DIG and UST.
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Drawdown Indicators
| DIG | UST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.04% | -47.99% | -49.05% |
Max Drawdown (1Y)Largest decline over 1 year | -29.80% | -8.86% | -20.94% |
Max Drawdown (3Y)Largest decline over 3 years | -42.41% | -14.85% | -27.56% |
Max Drawdown (5Y)Largest decline over 5 years | -46.02% | -43.53% | -2.49% |
Max Drawdown (10Y)Largest decline over 10 years | -92.53% | -47.99% | -44.54% |
Current DrawdownCurrent decline from peak | -51.26% | -39.52% | -11.74% |
Average DrawdownAverage peak-to-trough decline | -64.27% | -15.35% | -48.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.68% | 4.07% | +7.61% |
Volatility
DIG vs. UST - Volatility Comparison
ProShares Ultra Oil & Gas (DIG) has a higher volatility of 12.58% compared to ProShares Ultra 7-10 Year Treasury (UST) at 2.65%. This indicates that DIG's price experiences larger fluctuations and is considered to be riskier than UST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIG | UST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.58% | 2.65% | +9.93% |
Volatility (6M)Calculated over the trailing 6-month period | 33.67% | 7.24% | +26.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.13% | 9.01% | +33.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.16% | 15.45% | +35.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.79% | 13.15% | +44.64% |
DIG vs. UST - Expense Ratio Comparison
Both DIG and UST have an expense ratio of 0.95%.
Dividends
DIG vs. UST - Dividend Comparison
DIG's dividend yield for the trailing twelve months is around 1.49%, less than UST's 3.63% 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% |
UST ProShares Ultra 7-10 Year Treasury | 3.63% | 3.65% | 4.09% | 3.49% | 0.47% | 0.27% | 0.53% | 1.42% | 1.71% | 0.84% | 0.64% | 0.75% |
Frequently Asked Questions
DIG and UST have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIG has higher volatility (12.58%) compared to UST (2.65%). In terms of maximum drawdown, DIG dropped -97.04% vs UST's -47.99%.
On 10-year performance, DIG leads with 5.18% vs -2.53% for UST. Both ETFs have the same 0.95% expense ratio. On volatility, UST has been the lower-risk option at 2.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DIG has performed better with a 5.18% return vs -2.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIG and UST have the same expense ratio: 0.95% per year.
UST has the higher dividend yield at 3.63%, compared with 1.49% for DIG.
DIG is categorized as Leveraged Equities, while UST is Leveraged Bonds. DIG tracks Dow Jones U.S. Oil & Gas Index (200%), while UST tracks ICE U.S. Treasury 7-10 Year Bond Index.
DIG currently has the higher Sharpe Ratio (1.94 vs -0.30), 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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