DOG vs. TZA
Compare and contrast key facts about ProShares Short Dow30 (DOG) and Direxion Daily Small Cap Bear 3X Shares (TZA).
DOG and TZA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DOG is a passively managed fund by ProShares that tracks the performance of the DJ Industrial Average (-100%). It was launched on Jun 19, 2006. TZA is a passively managed fund by Direxion that tracks the performance of the Russell 2000 Index (-300%). It was launched on Nov 5, 2008. Both DOG and TZA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DOG or TZA.
Key characteristics
| DOG | TZA | |
|---|---|---|
| YTD Return | -8.86% | -44.66% |
| 1Y Return | -16.67% | -66.66% |
| 3Y Return (Ann) | -3.90% | -19.99% |
| 5Y Return (Ann) | -11.06% | -48.75% |
| 10Y Return (Ann) | -11.21% | -40.71% |
| Sharpe Ratio | -1.53 | -1.03 |
| Sortino Ratio | -2.14 | -1.74 |
| Omega Ratio | 0.76 | 0.80 |
| Calmar Ratio | -0.18 | -0.66 |
| Martin Ratio | -1.54 | -1.37 |
| Ulcer Index | 10.86% | 48.40% |
| Daily Std Dev | 10.97% | 64.71% |
| Max Drawdown | -91.87% | -100.00% |
| Current Drawdown | -91.87% | -100.00% |
Correlation
The correlation between DOG and TZA is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
DOG vs. TZA - Performance Comparison
In the year-to-date period, DOG achieves a -8.86% return, which is significantly higher than TZA's -44.66% return. Over the past 10 years, DOG has outperformed TZA with an annualized return of -11.21%, while TZA has yielded a comparatively lower -40.71% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DOG vs. TZA - Expense Ratio Comparison
DOG has a 0.95% expense ratio, which is lower than TZA's 1.11% expense ratio.
Risk-Adjusted Performance
DOG vs. TZA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Dow30 (DOG) and Direxion Daily Small Cap Bear 3X Shares (TZA). 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.
Dividends
DOG vs. TZA - Dividend Comparison
DOG's dividend yield for the trailing twelve months is around 5.74%, less than TZA's 6.82% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
DOG ProShares Short Dow30 | 5.74% | 4.54% | 0.41% | 0.00% | 0.14% | 1.54% | 0.86% | 0.03% |
TZA Direxion Daily Small Cap Bear 3X Shares | 6.82% | 5.49% | 0.00% | 0.00% | 1.21% | 1.57% | 0.63% | 0.00% |
Drawdowns
DOG vs. TZA - Drawdown Comparison
The maximum DOG drawdown since its inception was -91.87%, smaller than the maximum TZA drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for DOG and TZA. For additional features, visit the drawdowns tool.
Volatility
DOG vs. TZA - Volatility Comparison
The current volatility for ProShares Short Dow30 (DOG) is 4.72%, while Direxion Daily Small Cap Bear 3X Shares (TZA) has a volatility of 23.55%. This indicates that DOG experiences smaller price fluctuations and is considered to be less risky than TZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.