DRIP vs. DUG
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and DUG (ProShares UltraShort Oil & Gas) are both Leveraged Equities funds - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while DUG tracks the DJ Global United States (All) / Oil & Gas -IND (-200%). Both are passively managed. Over the past 10 years, DRIP returned -42.00%/yr vs -31.27%/yr for DUG. Their correlation of 0.90 suggests significant overlap in exposure. DRIP charges 1.07%/yr vs 0.95%/yr for DUG.
Performance
DRIP vs. DUG - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -40.65% return, which is significantly lower than DUG's -35.95% return. Over the past 10 years, DRIP has underperformed DUG with an annualized return of -42.00%, while DUG has yielded a comparatively higher -31.27% annualized return.
DRIP
- 1D
- -3.09%
- 1M
- 20.05%
- YTD
- -40.65%
- 6M
- -41.35%
- 1Y
- -37.54%
- 3Y*
- -27.03%
- 5Y*
- -38.96%
- 10Y*
- -42.00%
DUG
- 1D
- -2.63%
- 1M
- 18.26%
- YTD
- -35.95%
- 6M
- -37.15%
- 1Y
- -38.97%
- 3Y*
- -26.05%
- 5Y*
- -36.45%
- 10Y*
- -31.27%
DRIP vs. DUG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -40.65% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
DUG ProShares UltraShort Oil & Gas | -35.95% | -18.63% | -6.13% | -2.28% | -72.98% | -68.12% | -24.59% | -23.47% | 36.14% | -1.09% |
Correlation
The correlation between DRIP and DUG is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | 0.90 |
The correlation between DRIP and DUG has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
DRIP vs. DUG — Risk / Return Rank
DRIP
DUG
DRIP vs. DUG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) and ProShares UltraShort Oil & Gas (DUG). 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.
| DRIP | DUG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.86 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | -0.69 | +0.08 |
| Martin ratioReturn relative to average drawdown | -1.12 | -1.23 | +0.11 |
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Drawdowns
DRIP vs. DUG - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, roughly equal to the maximum DUG drawdown of -99.92%. Use the drawdown chart below to compare losses from any high point for DRIP and DUG.
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Drawdown Indicators
| DRIP | DUG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -99.92% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -57.00% | -5.18% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -68.64% | -7.38% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -94.03% | -2.21% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -99.46% | -0.46% |
Current DrawdownCurrent decline from peak | -99.93% | -99.90% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -90.46% | -88.98% | -1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.61% | 31.68% | +1.93% |
Volatility
DRIP vs. DUG - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 18.24% compared to ProShares UltraShort Oil & Gas (DUG) at 13.99%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than DUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | DUG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.24% | 13.99% | +4.25% |
Volatility (6M)Calculated over the trailing 6-month period | 43.95% | 33.63% | +10.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.86% | 41.89% | +14.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.37% | 51.52% | +16.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.46% | 58.88% | +37.58% |
DRIP vs. DUG - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than DUG's 0.95% expense ratio.
Dividends
DRIP vs. DUG - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.33%, less than DUG's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.33% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
DUG ProShares UltraShort Oil & Gas | 4.31% | 3.21% | 5.66% | 4.16% | 0.28% | 0.00% | 0.10% | 0.56% | 0.29% |
Frequently Asked Questions
DRIP and DUG have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (18.24%) compared to DUG (13.99%). In terms of maximum drawdown, DRIP dropped -99.95% vs DUG's -99.92%.
On 10-year performance, DUG leads with -31.27% vs -42.00% for DRIP. On fees, DUG is cheaper at 0.95% per year. On volatility, DUG has been the lower-risk option at 13.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DUG has performed better with a -31.27% return vs -42.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DUG is cheaper with a 0.95% expense ratio, compared with 1.07% for DRIP.
DUG has the higher dividend yield at 4.31%, compared with 3.33% for DRIP.
DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while DUG tracks DJ Global United States (All) / Oil & Gas -IND (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.07% for DRIP and 0.95% for DUG.
DRIP currently has the higher Sharpe Ratio (-0.66 vs -0.94), 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.
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