DIG vs. VDE

Last updated Jun 4, 2026

DIG (ProShares Ultra Oil & Gas) and VDE (Vanguard Energy ETF) are both exchange-traded funds - DIG is a Leveraged Equities fund tracking the Dow Jones U.S. Oil & Gas Index (200%), while VDE is a Energy Equities fund tracking the MSCI US Investable Market Energy 25/50 Index. Both are passively managed. Over the past 10 years, DIG returned 5.32%/yr vs 9.70%/yr for VDE. With a 0.99 correlation, they move nearly in lockstep. DIG charges 0.95%/yr vs 0.09%/yr for VDE.

Performance

DIG vs. VDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Oil & Gas (DIG) and Vanguard Energy ETF (VDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIG achieves a 66.35% return, which is significantly higher than VDE's 32.24% return. Over the past 10 years, DIG has underperformed VDE with an annualized return of 5.32%, while VDE has yielded a comparatively higher 9.70% annualized return.

DIG

• 1D: 2.57%
• 1M: -3.48%
• YTD: 66.35%
• 6M: 59.45%
• 1Y: 90.00%
• 3Y*: 23.37%
• 5Y*: 28.29%
• 10Y*: 5.32%

VDE

• 1D: 1.13%
• 1M: -2.17%
• YTD: 32.24%
• 6M: 29.32%
• 1Y: 45.53%
• 3Y*: 17.97%
• 5Y*: 20.43%
• 10Y*: 9.70%

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

DIG vs. VDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIG ProShares Ultra Oil & Gas	66.35%	2.73%	0.93%	-13.04%	125.34%	115.63%	-70.36%	12.51%	-40.11%	-7.39%
VDE Vanguard Energy ETF	32.24%	7.11%	6.75%	0.03%	62.89%	56.31%	-33.02%	9.28%	-19.95%	-2.50%

Correlation

The correlation between DIG and VDE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007	0.99

The correlation between DIG and VDE has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

DIG vs. VDE - Sectors Allocation Comparison

Sectors	DIG	VDE
Energy	61.8%	99.5%
Financial Services	6.0%	-
Basic Materials	-	0.4%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	0.1%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

DIG vs. VDE — Risk / Return Rank

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

DIG

DIG Risk / Return Rank: 61
DIG Sharpe Ratio Rank: 66
DIG Sortino Ratio Rank: 53
DIG Omega Ratio Rank: 52
DIG Calmar Ratio Rank: 76
DIG Martin Ratio Rank: 59

VDE

VDE Risk / Return Rank: 64
VDE Sharpe Ratio Rank: 66
VDE Sortino Ratio Rank: 60
VDE Omega Ratio Rank: 57
VDE Calmar Ratio Rank: 75
VDE Martin Ratio Rank: 62

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. VDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) and Vanguard Energy ETF (VDE). 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	VDE	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.25	-0.03
Sortino ratio: Return per unit of downside risk	2.61	2.88	-0.27
Omega ratio: Gain probability vs. loss probability	1.33	1.36	-0.03
Calmar ratio: Return relative to maximum drawdown	3.89	3.88	+0.01
Martin ratio: Return relative to average drawdown	10.65	11.42	-0.77
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. VDE - Sharpe Ratio Comparison

The current DIG Sharpe Ratio is 2.22, which is comparable to the VDE Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of DIG and VDE, 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	VDE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.25	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.78	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	0.33	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.28	-0.28

Drawdowns

DIG vs. VDE - Drawdown Comparison

The maximum DIG drawdown since its inception was -97.04%, which is greater than VDE's maximum drawdown of -74.20%. Use the drawdown chart below to compare losses from any high point for DIG and VDE.

Drawdown Indicators

	DIG	VDE	Difference
Max Drawdown Largest peak-to-trough decline	-97.04%	-74.20%	-22.84%
Max Drawdown (1Y) Largest decline over 1 year	-23.29%	-11.80%	-11.49%
Max Drawdown (3Y) Largest decline over 3 years	-42.41%	-21.41%	-21.00%
Max Drawdown (5Y) Largest decline over 5 years	-46.02%	-26.58%	-19.44%
Max Drawdown (10Y) Largest decline over 10 years	-92.53%	-69.29%	-23.24%
Current Drawdown Current decline from peak	-51.27%	-6.43%	-44.84%
Average Drawdown Average peak-to-trough decline	-64.37%	-19.96%	-44.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.49%	4.00%	+4.49%

Volatility

DIG vs. VDE - Volatility Comparison

ProShares Ultra Oil & Gas (DIG) has a higher volatility of 16.56% compared to Vanguard Energy ETF (VDE) at 7.99%. This indicates that DIG's price experiences larger fluctuations and is considered to be riskier than VDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIG	VDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.56%	7.99%	+8.57%
Volatility (6M) Calculated over the trailing 6-month period	33.14%	16.33%	+16.81%
Volatility (1Y) Calculated over the trailing 1-year period	40.88%	20.38%	+20.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.59%	26.40%	+25.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.81%	29.93%	+27.88%

DIG vs. VDE - Expense Ratio Comparison

DIG has a 0.95% expense ratio, which is higher than VDE's 0.09% expense ratio.

Dividends

DIG vs. VDE - Dividend Comparison

DIG's dividend yield for the trailing twelve months is around 1.50%, less than VDE's 2.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIG ProShares Ultra Oil & Gas	1.50%	2.62%	3.13%	0.61%	1.33%	2.24%	3.18%	2.72%	2.30%	1.76%	1.09%	1.56%
VDE Vanguard Energy ETF	2.37%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both DIG and VDE in my portfolio?

With a correlation of 0.99, DIG and VDE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DIG or VDE?

DIG has higher volatility (16.56%) compared to VDE (7.99%). In terms of maximum drawdown, DIG dropped -97.04% vs VDE's -74.20%.

Which ETF is better, DIG or VDE?

On 10-year performance, VDE leads with 9.70% vs 5.32% for DIG. On fees, VDE is cheaper at 0.09% per year. On volatility, VDE has been the lower-risk option at 7.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIG or VDE?

Over the 10-year period, VDE has performed better with a 9.70% return vs 5.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIG or VDE?

VDE is cheaper with a 0.09% expense ratio, compared with 0.95% for DIG.

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

VDE has the higher dividend yield at 2.37%, compared with 1.50% for DIG.

What is the main difference between DIG and VDE?

DIG is categorized as Leveraged Equities, while VDE is Energy Equities. DIG tracks Dow Jones U.S. Oil & Gas Index (200%), while VDE tracks MSCI US Investable Market Energy 25/50 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for DIG and 0.09% for VDE.

Which has better risk-adjusted returns?

VDE currently has the higher Sharpe Ratio (2.25 vs 2.22), 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.