EQRR vs. USD

Last updated Jun 5, 2026

EQRR (ProShares Equities for Rising Rates ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - EQRR is a Mid Cap Value Equities fund tracking the Nasdaq US Large Cap Equity Rising Rates Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 5 years, EQRR returned 12.47%/yr vs 67.80%/yr for USD. At a 0.39 correlation, their price movements are largely independent. EQRR charges 0.35%/yr vs 0.95%/yr for USD.

Performance

EQRR vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Equities for Rising Rates ETF (EQRR) and ProShares Ultra Semiconductors (USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQRR achieves a 28.12% return, which is significantly lower than USD's 103.32% return.

EQRR

• 1D: 0.62%
• 1M: 7.76%
• YTD: 28.12%
• 6M: 27.54%
• 1Y: 44.05%
• 3Y*: 22.79%
• 5Y*: 12.47%
• 10Y*: —

USD

• 1D: -4.99%
• 1M: 31.62%
• YTD: 103.32%
• 6M: 97.79%
• 1Y: 250.81%
• 3Y*: 125.78%
• 5Y*: 67.80%
• 10Y*: 61.24%

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

EQRR vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQRR ProShares Equities for Rising Rates ETF	28.12%	15.49%	7.69%	9.19%	2.20%	36.11%	-10.14%	19.57%	-18.60%	15.64%
USD ProShares Ultra Semiconductors	103.32%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	36.48%

Correlation

The correlation between EQRR and USD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jul 26, 2017	0.39

The correlation between EQRR and USD shifts across timeframes, from 0.27 (3 years) to 0.40 (5 years), reflecting how their relationship changes across market environments.

EQRR vs. USD - Sectors Allocation Comparison

Sectors	EQRR	USD
Technology	32.1%	27.4%
Energy	26.8%	0.0%
Financial Services	20.5%	27.8%
Communication Services	11.7%	-
Consumer Cyclical	4.8%	-
Industrials	4.2%	-
Basic Materials	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

EQRR vs. USD — Risk / Return Rank

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

EQRR

EQRR Risk / Return Rank: 93
EQRR Sharpe Ratio Rank: 92
EQRR Sortino Ratio Rank: 91
EQRR Omega Ratio Rank: 91
EQRR Calmar Ratio Rank: 96
EQRR Martin Ratio Rank: 96

USD

USD Risk / Return Rank: 89
USD Sharpe Ratio Rank: 96
USD Sortino Ratio Rank: 82
USD Omega Ratio Rank: 81
USD Calmar Ratio Rank: 95
USD Martin Ratio Rank: 92

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.

EQRR vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Equities for Rising Rates ETF (EQRR) and ProShares Ultra Semiconductors (USD). 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.

	EQRR	USD	Difference
Sharpe ratio: Return per unit of total volatility	3.30	4.12	-0.83
Sortino ratio: Return per unit of downside risk	4.31	3.62	+0.70
Omega ratio: Gain probability vs. loss probability	1.59	1.48	+0.11
Calmar ratio: Return relative to maximum drawdown	8.94	7.94	+1.00
Martin ratio: Return relative to average drawdown	33.32	22.96	+10.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQRR vs. USD - Sharpe Ratio Comparison

The current EQRR Sharpe Ratio is 3.30, which is comparable to the USD Sharpe Ratio of 4.12. The chart below compares the historical Sharpe Ratios of EQRR and USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EQRR	USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.30	4.12	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.89	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.49	-0.06

Drawdowns

EQRR vs. USD - Drawdown Comparison

The maximum EQRR drawdown since its inception was -57.93%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for EQRR and USD.

Drawdown Indicators

	EQRR	USD	Difference
Max Drawdown Largest peak-to-trough decline	-57.93%	-88.63%	+30.70%
Max Drawdown (1Y) Largest decline over 1 year	-4.95%	-31.80%	+26.85%
Max Drawdown (3Y) Largest decline over 3 years	-17.75%	-64.46%	+46.71%
Max Drawdown (5Y) Largest decline over 5 years	-21.75%	-77.85%	+56.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	0.00%	-6.07%	+6.07%
Average Drawdown Average peak-to-trough decline	-10.07%	-32.35%	+22.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.33%	10.98%	-9.65%

Volatility

EQRR vs. USD - Volatility Comparison

The current volatility for ProShares Equities for Rising Rates ETF (EQRR) is 4.69%, while ProShares Ultra Semiconductors (USD) has a volatility of 21.29%. This indicates that EQRR experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQRR	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.69%	21.29%	-16.60%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	46.74%	-36.38%
Volatility (1Y) Calculated over the trailing 1-year period	13.48%	61.28%	-47.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	76.56%	-55.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.86%	69.24%	-44.38%

EQRR vs. USD - Expense Ratio Comparison

EQRR has a 0.35% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

EQRR vs. USD - Dividend Comparison

EQRR's dividend yield for the trailing twelve months is around 1.20%, more than USD's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQRR ProShares Equities for Rising Rates ETF	1.20%	1.70%	2.17%	2.77%	2.34%	1.71%	2.17%	2.05%	2.47%	0.69%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.23%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both EQRR and USD in my portfolio?

EQRR and USD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQRR or USD?

USD has higher volatility (21.29%) compared to EQRR (4.69%). In terms of maximum drawdown, EQRR dropped -57.93% vs USD's -88.63%.

Which ETF is better, EQRR or USD?

On 5-year performance, USD leads with 67.80% vs 12.47% for EQRR. On fees, EQRR is cheaper at 0.35% per year. On volatility, EQRR has been the lower-risk option at 4.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQRR or USD?

Over the 5-year period, USD has performed better with a 67.80% return vs 12.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQRR or USD?

EQRR is cheaper with a 0.35% expense ratio, compared with 0.95% for USD.

Which ETF pays a higher dividend yield, EQRR or USD?

EQRR has the higher dividend yield at 1.20%, compared with 0.23% for USD.

What is the main difference between EQRR and USD?

EQRR is categorized as Mid Cap Value Equities, while USD is Leveraged Equities. EQRR tracks Nasdaq US Large Cap Equity Rising Rates Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%). Their fees differ too: 0.35% for EQRR and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (4.12 vs 3.30), 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.