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DUG vs. IYE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DUG vs. IYE

Last updated Jun 5, 2026

DUG (ProShares UltraShort Oil & Gas) and IYE (iShares U.S. Energy ETF) are both exchange-traded funds - DUG is a Leveraged Equities fund tracking the DJ Global United States (All) / Oil & Gas -IND (-200%), while IYE is a Energy Equities fund tracking the Dow Jones U.S. Oil & Gas Index. Both are passively managed. Over the past 10 years, DUG returned -32.12%/yr vs 8.76%/yr for IYE. At a correlation of -0.99, they often move in opposite directions. DUG charges 0.95%/yr vs 0.42%/yr for IYE.

Performance

DUG vs. IYE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Oil & Gas (DUG) and iShares U.S. Energy ETF (IYE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DUG achieves a -44.73% return, which is significantly lower than IYE's 31.95% return. Over the past 10 years, DUG has underperformed IYE with an annualized return of -32.12%, while IYE has yielded a comparatively higher 8.76% annualized return.

DUG

1D
-0.06%
1M
1.07%
YTD
-44.73%
6M
-42.13%
1Y
-55.13%
3Y*
-28.78%
5Y*
-38.28%
10Y*
-32.12%

IYE

1D
0.03%
1M
-1.09%
YTD
31.95%
6M
28.91%
1Y
46.86%
3Y*
17.38%
5Y*
19.52%
10Y*
8.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DUG vs. IYE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DUG
ProShares UltraShort Oil & Gas		-44.73%-18.63%-6.13%-2.28%-72.98%-68.12%-24.59%-23.47%36.14%-1.09%
IYE
iShares U.S. Energy ETF		31.95%7.33%6.06%-2.21%60.21%53.42%-33.49%10.03%-19.37%-1.80%

Correlation

The correlation between DUG and IYE is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-1.00

Correlation (3Y)
Calculated over the trailing 3-year period

-1.00

Correlation (5Y)
Calculated over the trailing 5-year period

-1.00

Correlation (10Y)
Calculated over the trailing 10-year period

-1.00

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2007

-0.99

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

DUG vs. IYE - Sectors Allocation Comparison

Sectors
DUG
IYE

Financial Services

35.8%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

98.9%

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

1.1%

Utilities

-

-

Financial Services

DUG
35.8%
IYE

-

Basic Materials

DUG

-

IYE

-

Communication Services

DUG

-

IYE

-

Consumer Cyclical

DUG

-

IYE

-

Consumer Defensive

DUG

-

IYE

-

Energy

DUG

-

IYE
98.9%

Healthcare

DUG

-

IYE

-

Industrials

DUG

-

IYE

-

Real Estate

DUG

-

IYE

-

Technology

DUG

-

IYE
1.1%

Utilities

DUG

-

IYE

-

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ProShares UltraShort Oil & Gas

iShares U.S. Energy ETF

Often compared with DUG:
DUG vs. DIGDUG vs. DRIPDUG vs. ERYDUG vs. NRGDDUG vs. ERXDUG vs. SPYDUG vs. WTIU
Often compared with IYE:
IYE vs. XLEIYE vs. VDEIYE vs. IXCIYE vs. FENYIYE vs. OIHIYE vs. IYHIYE vs. XOP

Return for Risk

DUG vs. IYE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DUG
DUG Risk / Return Rank: 11
Overall Rank
DUG Sharpe Ratio Rank: 00
Sharpe Ratio Rank
DUG Sortino Ratio Rank: 00
Sortino Ratio Rank
DUG Omega Ratio Rank: 00
Omega Ratio Rank
DUG Calmar Ratio Rank: 11
Calmar Ratio Rank
DUG Martin Ratio Rank: 11
Martin Ratio Rank
IYE
IYE Risk / Return Rank: 6969
Overall Rank
IYE Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
IYE Sortino Ratio Rank: 6767
Sortino Ratio Rank
IYE Omega Ratio Rank: 6464
Omega Ratio Rank
IYE Calmar Ratio Rank: 7878
Calmar Ratio Rank
IYE Martin Ratio Rank: 6565
Martin Ratio Rank
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.

DUG vs. IYE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Oil & Gas (DUG) and iShares U.S. Energy ETF (IYE). 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.

DUGIYEDifference
Sharpe ratioReturn per unit of total volatility
-1.36
2.37

-3.73

Sortino ratioReturn per unit of downside risk
-2.40
3.03

-5.43

Omega ratioGain probability vs. loss probability

0.76

1.38

-0.63

Calmar ratioReturn relative to maximum drawdown

-0.92

3.95

-4.87

Martin ratioReturn relative to average drawdown

-1.64

11.64

-13.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DUG vs. IYE - Sharpe Ratio Comparison

The current DUG Sharpe Ratio is -1.36, which is lower than the IYE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of DUG and IYE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DUGIYEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.36

2.37

-3.73

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.74

0.76

-1.51

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.55

0.30

-0.85

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.51

0.26

-0.77

Drawdowns

DUG vs. IYE - Drawdown Comparison

The maximum DUG drawdown since its inception was -99.92%, which is greater than IYE's maximum drawdown of -73.74%. Use the drawdown chart below to compare losses from any high point for DUG and IYE.

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Drawdown Indicators

DUGIYEDifference

Max Drawdown

Largest peak-to-trough decline

-99.92%

-73.74%

-26.18%

Max Drawdown (1Y)

Largest decline over 1 year

-59.89%

-11.92%

-47.97%

Max Drawdown (3Y)

Largest decline over 3 years

-68.64%

-20.37%

-48.27%

Max Drawdown (5Y)

Largest decline over 5 years

-94.03%

-25.61%

-68.42%

Max Drawdown (10Y)

Largest decline over 10 years

-99.46%

-68.59%

-30.87%

Current Drawdown

Current decline from peak

-99.92%

-5.74%

-94.18%

Average Drawdown

Average peak-to-trough decline

-88.97%

-19.36%

-69.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

33.57%

4.04%

+29.53%

Volatility

DUG vs. IYE - Volatility Comparison

ProShares UltraShort Oil & Gas (DUG) has a higher volatility of 16.20% compared to iShares U.S. Energy ETF (IYE) at 7.92%. This indicates that DUG's price experiences larger fluctuations and is considered to be riskier than IYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DUGIYEDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.20%

7.92%

+8.28%

Volatility (6M)

Calculated over the trailing 6-month period

32.83%

16.06%

+16.77%

Volatility (1Y)

Calculated over the trailing 1-year period

40.86%

19.96%

+20.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

51.59%

25.71%

+25.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

58.80%

29.51%

+29.29%

DUG vs. IYE - Expense Ratio Comparison

DUG has a 0.95% expense ratio, which is higher than IYE's 0.42% expense ratio.

Dividends

DUG vs. IYE - Dividend Comparison

DUG's dividend yield for the trailing twelve months is around 4.99%, more than IYE's 2.13% yield.

PositionTTM20252024202320222021202020192018201720162015
DUG
ProShares UltraShort Oil & Gas		4.99%3.21%5.66%4.16%0.28%0.00%0.10%0.56%0.29%0.00%0.00%0.00%
IYE
iShares U.S. Energy ETF		2.13%2.85%2.75%2.99%3.37%2.98%4.75%6.60%3.16%2.66%2.11%3.39%

Frequently Asked Questions

DUG and IYE have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DUG has higher volatility (16.20%) compared to IYE (7.92%). In terms of maximum drawdown, DUG dropped -99.92% vs IYE's -73.74%.

On 10-year performance, IYE leads with 8.76% vs -32.12% for DUG. On fees, IYE is cheaper at 0.42% per year. On volatility, IYE has been the lower-risk option at 7.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYE has performed better with a 8.76% return vs -32.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYE is cheaper with a 0.42% expense ratio, compared with 0.95% for DUG.

DUG has the higher dividend yield at 4.99%, compared with 2.13% for IYE.

DUG is categorized as Leveraged Equities, while IYE is Energy Equities. DUG tracks DJ Global United States (All) / Oil & Gas -IND (-200%), while IYE tracks Dow Jones U.S. Oil & Gas Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for DUG and 0.42% for IYE.

IYE currently has the higher Sharpe Ratio (2.37 vs -1.36), 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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