DXD vs. DOW
DXD (ProShares UltraShort Dow30) is Leveraged Equities fund tracking the Dow Jones Industrial Average Index (-200%), while DOW (Dow Inc.) is a stock. Over the past 5 years, DXD returned -16.28%/yr vs -8.17%/yr for DOW. Their -0.54 correlation means they have often moved in opposite directions in the past.
Performance
DXD vs. DOW - Performance Comparison
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Returns By Period
In the year-to-date period, DXD achieves a -20.27% return, which is significantly lower than DOW's 32.60% return.
DXD
- 1D
- -3.36%
- 1M
- -4.22%
- 6M
- -16.65%
- YTD
- -20.27%
- 1Y
- -31.35%
- 3Y*
- -22.34%
- 5Y*
- -16.28%
- 10Y*
- -24.85%
- ALL TIME*
- -23.41%
DOW
- 1D
- 1.47%
- 1M
- 9.46%
- 6M
- 1.68%
- YTD
- 32.60%
- 1Y
- 47.83%
- 3Y*
- -12.84%
- 5Y*
- -8.17%
- 10Y*
- —
- ALL TIME*
- -2.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
DOW Dow Inc. | $344.77M | $312.36M | $375.46M |
| $12.93M | $11.34M | $30.23M |
DXD vs. DOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DXD ProShares UltraShort Dow30 | -20.27% | -21.11% | -16.07% | -18.77% | 7.09% | -35.18% | -44.57% | -19.45% |
DOW Dow Inc. | 32.60% | -37.38% | -22.79% | 14.71% | -6.65% | 6.81% | 7.88% | 8.40% |
Correlation
The correlation between DXD and DOW is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (3Y) Balances recent behavior with more history. | -0.35 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.46 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2019 | -0.54 |
Over the past year, the inverse relationship between DXD and DOW has weakened: their correlation has moved from -0.54 to -0.10, meaning they move in opposite directions less often than they have historically.
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Return for Risk
DXD vs. DOW — Risk / Return Rank
DXD
DOW
DXD vs. DOW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Dow30 (DXD) and Dow Inc. (DOW). 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.
| DXD | DOW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.59 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.20 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 1.38 | -2.36 |
| Martin ratioReturn relative to average drawdown | -1.83 | 3.64 | -5.48 |
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Drawdowns
DXD vs. DOW - Drawdown Comparison
The maximum DXD drawdown since its inception was -99.73%, which is greater than DOW's maximum drawdown of -64.37%. Use the drawdown chart below to compare losses from any high point for DXD and DOW.
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Drawdown Indicators
| DXD | DOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.73% | -64.37% | -35.36% |
Max Drawdown (1Y)Largest decline over 1 year | -32.02% | -34.81% | +2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -60.60% | -62.16% | +1.56% |
Max Drawdown (5Y)Largest decline over 5 years | -68.37% | -64.37% | -4.00% |
Max Drawdown (10Y)Largest decline over 10 years | -94.55% | — | — |
Current DrawdownCurrent decline from peak | -99.73% | -45.51% | -54.22% |
Average DrawdownAverage peak-to-trough decline | -82.43% | -23.24% | -59.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.15% | 13.16% | +3.99% |
Volatility
DXD vs. DOW - Volatility Comparison
The current volatility for ProShares UltraShort Dow30 (DXD) is 8.39%, while Dow Inc. (DOW) has a volatility of 11.56%. This indicates that DXD experiences smaller price fluctuations and is considered to be less risky than DOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXD | DOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.39% | 11.56% | -3.17% |
Volatility (6M)Calculated over the trailing 6-month period | 20.20% | 32.63% | -12.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.32% | 45.03% | -19.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.65% | 33.88% | -4.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.94% | 38.67% | -3.73% |
Dividends
DXD vs. DOW - Dividend Comparison
DXD's dividend yield for the trailing twelve months is around 4.27%, less than DOW's 4.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DOW Dow Inc. | 4.62% | 8.98% | 6.98% | 5.11% | 5.56% | 4.94% | 5.05% | 3.84% | 0.00% | 0.00% |
DXD ProShares UltraShort Dow30 | 4.27% | 4.25% | 5.91% | 3.87% | 0.25% | 0.00% | 0.31% | 1.76% | 1.15% | 0.12% |
Frequently Asked Questions
DXD and DOW have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DOW has higher volatility (11.56%) compared to DXD (8.39%). In terms of maximum drawdown, DXD dropped -99.73% vs DOW's -64.37%.
DOW currently has the higher Sharpe Ratio (1.07 vs -1.25), 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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