DIVZ vs. USD

Last updated Jun 23, 2026

DIVZ (Opal Dividend Income ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - DIVZ is a Large Cap Value Equities fund actively managed by TrueShares, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). DIVZ is actively managed, while USD is passively managed. Over the past 5 years, DIVZ returned 9.27%/yr vs 68.54%/yr for USD. At a 0.34 correlation, their price movements are largely independent. DIVZ charges 0.65%/yr vs 0.95%/yr for USD.

Performance

DIVZ vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Opal Dividend Income ETF (DIVZ) 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, DIVZ achieves a 3.70% return, which is significantly lower than USD's 110.66% return.

DIVZ

• 1D: 0.13%
• 1M: -2.53%
• YTD: 3.70%
• 6M: 3.95%
• 1Y: 11.58%
• 3Y*: 15.08%
• 5Y*: 9.27%
• 10Y*: —

USD

• 1D: 1.64%
• 1M: 16.06%
• YTD: 110.66%
• 6M: 113.42%
• 1Y: 253.70%
• 3Y*: 123.90%
• 5Y*: 68.54%
• 10Y*: 63.16%

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

DIVZ vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	3.70%	16.72%	18.44%	-0.51%	3.51%	19.03%
USD ProShares Ultra Semiconductors	110.66%	62.08%	139.64%	228.79%	-68.57%	96.76%

Correlation

The correlation between DIVZ and USD is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jan 28, 2021	0.34

The correlation between DIVZ and USD shifts across timeframes, from -0.06 (1 year) to 0.34 (5 years), reflecting how their relationship changes across market environments.

DIVZ vs. USD - Sectors Allocation Comparison

Sectors	DIVZ	USD
Consumer Defensive	19.5%	-
Healthcare	18.2%	-
Energy	14.7%	0.0%
Utilities	13.1%	-
Industrials	9.8%	-
Financial Services	9.4%	26.0%
Basic Materials	5.7%	-
Communication Services	5.6%	-
Technology	3.7%	26.3%
Consumer Cyclical	3.7%	-
Real Estate	-	-

Return for Risk

DIVZ vs. USD — Risk / Return Rank

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

DIVZ

DIVZ Risk / Return Rank: 35
DIVZ Sharpe Ratio Rank: 35
DIVZ Sortino Ratio Rank: 35
DIVZ Omega Ratio Rank: 32
DIVZ Calmar Ratio Rank: 41
DIVZ Martin Ratio Rank: 33

USD

USD Risk / Return Rank: 89
USD Sharpe Ratio Rank: 96
USD Sortino Ratio Rank: 79
USD Omega Ratio Rank: 81
USD Calmar Ratio Rank: 96
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.

DIVZ vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Opal Dividend Income ETF (DIVZ) 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.

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.

	DIVZ	USD	Difference
Sharpe ratio: Return per unit of total volatility	1.23	3.83	-2.59
Sortino ratio: Return per unit of downside risk	1.79	3.35	-1.55
Omega ratio: Gain probability vs. loss probability	1.21	1.46	-0.25
Calmar ratio: Return relative to maximum drawdown	1.99	8.03	-6.04
Martin ratio: Return relative to average drawdown	4.75	22.36	-17.61

DIVZ vs. USD - Sharpe Ratio Comparison

The current DIVZ Sharpe Ratio is 1.23, which is lower than the USD Sharpe Ratio of 3.83. The chart below compares the historical Sharpe Ratios of DIVZ 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.

Drawdowns

DIVZ vs. USD - Drawdown Comparison

The maximum DIVZ drawdown since its inception was -15.42%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for DIVZ and USD.

Drawdown Indicators

	DIVZ	USD	Difference
Max Drawdown Largest peak-to-trough decline	-15.42%	-88.63%	+73.21%
Max Drawdown (1Y) Largest decline over 1 year	-5.83%	-31.80%	+25.97%
Max Drawdown (3Y) Largest decline over 3 years	-9.52%	-64.46%	+54.94%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	-77.85%	+62.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	-3.95%	-2.68%	-1.27%
Average Drawdown Average peak-to-trough decline	-3.48%	-32.30%	+28.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	11.40%	-8.95%

Volatility

DIVZ vs. USD - Volatility Comparison

The current volatility for Opal Dividend Income ETF (DIVZ) is 3.32%, while ProShares Ultra Semiconductors (USD) has a volatility of 31.13%. This indicates that DIVZ 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

	DIVZ	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	31.13%	-27.81%
Volatility (6M) Calculated over the trailing 6-month period	7.16%	52.43%	-45.27%
Volatility (1Y) Calculated over the trailing 1-year period	9.44%	66.85%	-57.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.62%	77.52%	-64.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.56%	69.80%	-57.24%

DIVZ vs. USD - Expense Ratio Comparison

DIVZ has a 0.65% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

DIVZ vs. USD - Dividend Comparison

DIVZ's dividend yield for the trailing twelve months is around 2.58%, more than USD's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIVZ Opal Dividend Income ETF	2.58%	2.60%	2.63%	3.66%	3.23%	3.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.22%	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 DIVZ and USD in my portfolio?

DIVZ and USD have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVZ or USD?

USD has higher volatility (31.13%) compared to DIVZ (3.32%). In terms of maximum drawdown, DIVZ dropped -15.42% vs USD's -88.63%.

Which ETF is better, DIVZ or USD?

On 5-year performance, USD leads with 68.54% vs 9.27% for DIVZ. On fees, DIVZ is cheaper at 0.65% per year. On volatility, DIVZ has been the lower-risk option at 3.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVZ or USD?

Over the 5-year period, USD has performed better with a 68.54% return vs 9.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVZ or USD?

DIVZ is cheaper with a 0.65% expense ratio, compared with 0.95% for USD.

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

DIVZ has the higher dividend yield at 2.58%, compared with 0.22% for USD.

What is the main difference between DIVZ and USD?

DIVZ is categorized as Large Cap Value Equities, while USD is Leveraged Equities. They also come from different issuers: TrueShares and ProShares. Their fees differ too: 0.65% for DIVZ and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (3.83 vs 1.23), 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.