PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
DOG vs. SDOW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DOG vs. SDOW

Last updated Aug 2, 2026
Documentation

DOG (ProShares Short Dow30) and SDOW (ProShares UltraPro Short Dow30) are both exchange-traded funds - DOG is a Inverse Equities fund tracking the DJ Industrial Average (-100%), while SDOW is a Leveraged Equities fund tracking the Dow Jones Industrial Average (-300%). Both are passively managed. Over the past 10 years, DOG returned -11.12%/yr vs -37.90%/yr for SDOW. Their 0.99 correlation means they have historically moved very closely together. Both charge a 0.95% expense ratio.

Performance

DOG vs. SDOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Dow30 (DOG) and ProShares UltraPro Short Dow30 (SDOW). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, DOG achieves a -6.75% return, which is significantly higher than SDOW's -23.66% return. Over the past 10 years, DOG has outperformed SDOW with an annualized return of -11.12%, while SDOW has yielded a comparatively lower -37.90% annualized return.

DOG

1D
-0.51%
1M
1.03%
6M
-5.42%
YTD
-6.75%
1Y
-13.86%
3Y*
-7.85%
5Y*
-5.65%
10Y*
-11.12%
ALL TIME*
-10.34%

SDOW

1D
-1.40%
1M
2.39%
6M
-19.90%
YTD
-23.66%
1Y
-42.17%
3Y*
-31.29%
5Y*
-25.49%
10Y*
-37.90%
ALL TIME*
-38.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DOG

ProShares Short Dow30
$40.27M$36.96M$41.35M

SDOW

ProShares UltraPro Short Dow30
$85.35M$79.85M$111.34M

DOG vs. SDOW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DOG
ProShares Short Dow30		-6.75%-8.40%-5.62%-7.05%5.67%-19.21%-20.45%-18.43%3.55%-21.51%
SDOW
ProShares UltraPro Short Dow30		-23.66%-33.94%-25.95%-28.78%4.00%-49.00%-66.48%-49.54%-0.30%-52.26%

Correlation

The correlation between DOG and SDOW is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

1.00

Correlation (3Y)
Balances recent behavior with more history.

1.00

Correlation (5Y)
Shows whether the relationship held over a longer period.

1.00

Correlation (10Y)
Provides a long-term view across more market conditions.

1.00

Correlation (All Time)
Calculated using the full available price history since Feb 11, 2010

0.99

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

DOG vs. SDOW - Sectors Allocation Comparison

Sectors
DOG
SDOW

Financial Services

82.8%
78.9%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

DOG
82.8%
SDOW
78.9%

Basic Materials

DOG

-

SDOW

-

Communication Services

DOG

-

SDOW

-

Consumer Cyclical

DOG

-

SDOW

-

Consumer Defensive

DOG

-

SDOW

-

Energy

DOG

-

SDOW

-

Healthcare

DOG

-

SDOW

-

Industrials

DOG

-

SDOW

-

Real Estate

DOG

-

SDOW

-

Technology

DOG

-

SDOW

-

Utilities

DOG

-

SDOW

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Short Dow30

ProShares UltraPro Short Dow30

Often compared with DOG:
DOG vs. DXDDOG vs. SHDOG vs. PSQDOG vs. DIADOG vs. UDOWDOG vs. TZADOG vs. SPY
Often compared with SDOW:
SDOW vs. UDOWSDOW vs. SQQQSDOW vs. SPXUSDOW vs. ^DJISDOW vs. DIASDOW vs. QQQSDOW vs. DXD

Return for Risk

DOG vs. SDOW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
DOG
DOG Risk / Return Rank: 22
Overall Rank
DOG Sharpe Ratio Rank: 11
Sharpe Ratio Rank
DOG Sortino Ratio Rank: 22
Sortino Ratio Rank
DOG Omega Ratio Rank: 22
Omega Ratio Rank
DOG Calmar Ratio Rank: 22
Calmar Ratio Rank
DOG Martin Ratio Rank: 00
Martin Ratio Rank
SDOW
SDOW Risk / Return Rank: 11
Overall Rank
SDOW Sharpe Ratio Rank: 11
Sharpe Ratio Rank
SDOW Sortino Ratio Rank: 11
Sortino Ratio Rank
SDOW Omega Ratio Rank: 22
Omega Ratio Rank
SDOW Calmar Ratio Rank: 11
Calmar Ratio Rank
SDOW Martin Ratio Rank: 00
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DOG vs. SDOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Dow30 (DOG) and ProShares UltraPro Short Dow30 (SDOW). 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.

DOGSDOWDifference
Sharpe ratioReturn per unit of total volatility
-1.01
-1.07

+0.06

Sortino ratioReturn per unit of downside risk
-1.38
-1.58

+0.20

Omega ratioGain probability vs. loss probability

0.85

0.82

+0.02

Calmar ratioReturn relative to maximum drawdown

-0.85

-0.90

+0.06

Martin ratioReturn relative to average drawdown

-1.48

-1.48

0.00

DOG vs. SDOW - Sharpe Ratio Comparison

The current DOG Sharpe Ratio is -1.01, which is comparable to the SDOW Sharpe Ratio of -1.07. The chart below compares the historical Sharpe Ratios of DOG and SDOW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

DOG vs. SDOW - Drawdown Comparison

The maximum DOG drawdown since its inception was -92.90%, smaller than the maximum SDOW drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for DOG and SDOW.

Loading charts...

Drawdown Indicators

DOGSDOWDifference

Max Drawdown

Largest peak-to-trough decline

-92.90%

-99.97%

+7.07%

Max Drawdown (1Y)

Largest decline over 1 year

-15.02%

-44.20%

+29.18%

Max Drawdown (3Y)

Largest decline over 3 years

-30.86%

-76.85%

+45.99%

Max Drawdown (5Y)

Largest decline over 5 years

-35.93%

-84.05%

+48.12%

Max Drawdown (10Y)

Largest decline over 10 years

-70.07%

-99.21%

+29.14%

Current Drawdown

Current decline from peak

-92.81%

-99.96%

+7.15%

Average Drawdown

Average peak-to-trough decline

-66.59%

-89.65%

+23.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.60%

26.97%

-18.37%

Volatility

DOG vs. SDOW - Volatility Comparison

The current volatility for ProShares Short Dow30 (DOG) is 3.74%, while ProShares UltraPro Short Dow30 (SDOW) has a volatility of 10.82%. This indicates that DOG experiences smaller price fluctuations and is considered to be less risky than SDOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

DOGSDOWDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.74%

10.82%

-7.08%

Volatility (6M)

Calculated over the trailing 6-month period

9.94%

29.51%

-19.57%

Volatility (1Y)

Calculated over the trailing 1-year period

12.59%

37.41%

-24.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.83%

44.40%

-29.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.49%

52.11%

-34.62%

DOG vs. SDOW - Expense Ratio Comparison

Both DOG and SDOW have an expense ratio of 0.95%.

Dividends

DOG vs. SDOW - Dividend Comparison

DOG's dividend yield for the trailing twelve months is around 3.38%, less than SDOW's 5.43% yield.

PositionTTM202520242023202220212020201920182017
DOG
ProShares Short Dow30		3.38%3.65%5.72%4.54%0.41%0.00%0.14%1.54%0.86%0.04%
SDOW
ProShares UltraPro Short Dow30		5.43%5.80%8.30%5.38%0.36%0.00%0.52%2.17%1.23%0.09%

Frequently Asked Questions

With a correlation of 1.00, DOG and SDOW 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.

SDOW has higher volatility (10.82%) compared to DOG (3.74%). In terms of maximum drawdown, DOG dropped -92.90% vs SDOW's -99.97%.

On 10-year performance, DOG leads with -11.12% vs -37.90% for SDOW. Both ETFs have the same 0.95% expense ratio. On volatility, DOG has been the lower-risk option at 3.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DOG has performed better with a -11.12% return vs -37.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DOG and SDOW have the same expense ratio: 0.95% per year.

SDOW has the higher dividend yield at 5.43%, compared with 3.38% for DOG.

DOG is categorized as Inverse Equities, while SDOW is Leveraged Equities. DOG tracks DJ Industrial Average (-100%), while SDOW tracks Dow Jones Industrial Average (-300%).

DOG currently has the higher Sharpe Ratio (-1.01 vs -1.07), 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.

Portfolio Optimizer

Find the right allocation for DOG and SDOW

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer