DOG vs. SKRE

Last updated Jul 14, 2026

DOG (ProShares Short Dow30) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both Inverse Equities funds - DOG tracks the DJ Industrial Average (-100%) while SKRE tracks the S&P Regional Banks Select Industry. Both are passively managed. Over the past year, DOG returned -12.16% vs -40.68% for SKRE. A 0.62 correlation means they provide meaningful diversification when combined. DOG charges 0.95%/yr vs 0.75%/yr for SKRE.

Performance

DOG vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Dow30 (DOG) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOG achieves a -6.96% return, which is significantly higher than SKRE's -31.48% return.

DOG

• 1D: 0.28%
• 1M: -2.15%
• 6M: -4.11%
• YTD: -6.96%
• 1Y: -12.16%
• 3Y*: -8.78%
• 5Y*: -5.73%
• 10Y*: -11.05%

SKRE

• 1D: 0.15%
• 1M: -6.10%
• 6M: -27.31%
• YTD: -31.48%
• 1Y: -40.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DOG vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DOG ProShares Short Dow30	-6.96%	-8.40%	-6.31%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-31.48%	-31.29%	-44.47%

Correlation

The correlation between DOG and SKRE is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024	0.62

The correlation between DOG and SKRE has been stable across timeframes, ranging from 0.60 to 0.62 - a consistent structural relationship.

Return for Risk

DOG vs. SKRE — Risk / Return Rank

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

DOG

DOG Risk / Return Rank: 2
DOG Sharpe Ratio Rank: 2
DOG Sortino Ratio Rank: 2
DOG Omega Ratio Rank: 2
DOG Calmar Ratio Rank: 2
DOG Martin Ratio Rank: 1

SKRE

SKRE Risk / Return Rank: 2
SKRE Sharpe Ratio Rank: 2
SKRE Sortino Ratio Rank: 3
SKRE Omega Ratio Rank: 3
SKRE Calmar Ratio Rank: 2
SKRE Martin Ratio Rank: 1

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.

DOG vs. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Dow30 (DOG) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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.

	DOG	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	-0.88	-0.11
Sortino ratio: Return per unit of downside risk	-1.33	-1.25	-0.08
Omega ratio: Gain probability vs. loss probability	0.85	0.86	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.81	-0.83	+0.02
Martin ratio: Return relative to average drawdown	-1.52	-1.44	-0.09

DOG vs. SKRE - Sharpe Ratio Comparison

The current DOG Sharpe Ratio is -0.99, which is comparable to the SKRE Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of DOG and SKRE, 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

DOG vs. SKRE - Drawdown Comparison

The maximum DOG drawdown since its inception was -92.90%, which is greater than SKRE's maximum drawdown of -78.32%. Use the drawdown chart below to compare losses from any high point for DOG and SKRE.

Drawdown Indicators

	DOG	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-92.90%	-78.32%	-14.58%
Max Drawdown (1Y) Largest decline over 1 year	-15.02%	-49.07%	+34.05%
Max Drawdown (3Y) Largest decline over 3 years	-30.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-70.07%	—	—
Current Drawdown Current decline from peak	-92.82%	-77.77%	-15.05%
Average Drawdown Average peak-to-trough decline	-66.51%	-48.39%	-18.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.99%	28.32%	-20.33%

Volatility

DOG vs. SKRE - Volatility Comparison

The current volatility for ProShares Short Dow30 (DOG) is 3.11%, while Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) has a volatility of 11.56%. This indicates that DOG experiences smaller price fluctuations and is considered to be less risky than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOG	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	11.56%	-8.45%
Volatility (6M) Calculated over the trailing 6-month period	9.78%	32.34%	-22.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	46.52%	-34.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.83%	55.15%	-40.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.47%	55.15%	-37.68%

DOG vs. SKRE - Expense Ratio Comparison

DOG has a 0.95% expense ratio, which is higher than SKRE's 0.75% expense ratio.

Dividends

DOG vs. SKRE - Dividend Comparison

DOG's dividend yield for the trailing twelve months is around 3.39%, more than SKRE's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DOG ProShares Short Dow30	3.39%	3.65%	5.72%	4.54%	0.41%	0.00%	0.14%	1.54%	0.86%	0.04%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.37%	0.26%	3.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DOG and SKRE in my portfolio?

DOG and SKRE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOG or SKRE?

SKRE has higher volatility (11.56%) compared to DOG (3.11%). In terms of maximum drawdown, DOG dropped -92.90% vs SKRE's -78.32%.

Which ETF is better, DOG or SKRE?

On 1-year performance, DOG leads with -12.16% vs -40.68% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, DOG has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DOG or SKRE?

Over the 1-year period, DOG has performed better with a -12.16% return vs -40.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DOG or SKRE?

SKRE is cheaper with a 0.75% expense ratio, compared with 0.95% for DOG.

Which ETF pays a higher dividend yield, DOG or SKRE?

DOG has the higher dividend yield at 3.39%, compared with 0.37% for SKRE.

What is the main difference between DOG and SKRE?

DOG tracks DJ Industrial Average (-100%), while SKRE tracks S&P Regional Banks Select Industry. They also come from different issuers: ProShares and Tuttle. Their fees differ too: 0.95% for DOG and 0.75% for SKRE.

Which has better risk-adjusted returns?

SKRE currently has the higher Sharpe Ratio (-0.88 vs -0.99), 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.