FDVV vs. USD

Last updated Aug 1, 2026

FDVV (Fidelity High Dividend ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend 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, FDVV returned 14.17%/yr vs 55.02%/yr for USD. Their 0.60 correlation means they have sometimes moved together and sometimes differently. FDVV charges 0.29%/yr vs 0.95%/yr for USD.

Performance

FDVV vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity High Dividend ETF (FDVV) 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, FDVV achieves a 12.19% return, which is significantly lower than USD's 50.25% return.

FDVV

• 1D: -0.35%
• 1M: 3.10%
• 6M: 9.39%
• YTD: 12.19%
• 1Y: 20.46%
• 3Y*: 18.35%
• 5Y*: 14.17%
• 10Y*: —
• ALL TIME*: 13.71%

USD

• 1D: 1.44%
• 1M: -16.99%
• 6M: 34.80%
• YTD: 50.25%
• 1Y: 84.35%
• 3Y*: 87.71%
• 5Y*: 55.02%
• 10Y*: 54.19%
• ALL TIME*: 28.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDVV Fidelity High Dividend ETF	$48.25M	$48.28M	$45.73M
USD ProShares Ultra Semiconductors	$68.86M	$72.62M	$95.81M

FDVV vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDVV Fidelity High Dividend ETF	12.19%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	14.00%
USD ProShares Ultra Semiconductors	50.25%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	81.72%

Correlation

The correlation between FDVV and USD is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (3Y) Balances recent behavior with more history.	0.52
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.60

Over the past year, the correlation between FDVV and USD has dropped to 0.38 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

FDVV vs. USD - Sectors Allocation Comparison

Sectors	FDVV	USD
Technology	28.1%	31.1%
Financial Services	18.5%	29.8%
Consumer Cyclical	13.4%	-
Consumer Defensive	11.0%	-
Real Estate	10.0%	-
Utilities	9.1%	-
Communication Services	3.4%	-
Healthcare	3.3%	-
Industrials	3.2%	-
Basic Materials	-	-
Energy	-	0.0%

Return for Risk

FDVV vs. USD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDVV

FDVV Risk / Return Rank: 78
FDVV Sharpe Ratio Rank: 85
FDVV Sortino Ratio Rank: 84
FDVV Omega Ratio Rank: 84
FDVV Calmar Ratio Rank: 64
FDVV Martin Ratio Rank: 74

USD

USD Risk / Return Rank: 52
USD Sharpe Ratio Rank: 47
USD Sortino Ratio Rank: 49
USD Omega Ratio Rank: 49
USD Calmar Ratio Rank: 62
USD Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDVV vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity High Dividend ETF (FDVV) 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.

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.

	FDVV	USD	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.15	+0.84
Sortino ratio: Return per unit of downside risk	2.77	1.73	+1.04
Omega ratio: Gain probability vs. loss probability	1.36	1.22	+0.14
Calmar ratio: Return relative to maximum drawdown	2.21	2.16	+0.05
Martin ratio: Return relative to average drawdown	9.10	6.21	+2.89

FDVV vs. USD - Sharpe Ratio Comparison

The current FDVV Sharpe Ratio is 1.99, which is higher than the USD Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of FDVV 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.

Drawdowns

FDVV vs. USD - Drawdown Comparison

The maximum FDVV drawdown since its inception was -40.25%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for FDVV and USD.

Drawdown Indicators

	FDVV	USD	Difference
Max Drawdown Largest peak-to-trough decline	-40.25%	-88.63%	+48.38%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-39.33%	+30.03%
Max Drawdown (3Y) Largest decline over 3 years	-15.90%	-64.46%	+48.56%
Max Drawdown (5Y) Largest decline over 5 years	-20.18%	-77.85%	+57.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	-1.12%	-30.59%	+29.47%
Average Drawdown Average peak-to-trough decline	-3.76%	-32.23%	+28.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	13.62%	-11.36%

Volatility

FDVV vs. USD - Volatility Comparison

The current volatility for Fidelity High Dividend ETF (FDVV) is 3.04%, while ProShares Ultra Semiconductors (USD) has a volatility of 28.19%. This indicates that FDVV 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

	FDVV	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	28.19%	-25.15%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	61.13%	-52.78%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	73.80%	-63.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.68%	78.73%	-64.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	70.38%	-53.47%

FDVV vs. USD - Expense Ratio Comparison

FDVV has a 0.29% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

FDVV vs. USD - Dividend Comparison

FDVV's dividend yield for the trailing twelve months is around 2.76%, more than USD's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDVV Fidelity High Dividend ETF	2.76%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%	0.00%
USD ProShares Ultra Semiconductors	0.39%	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 FDVV and USD in my portfolio?

FDVV and USD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDVV or USD?

USD has higher volatility (28.19%) compared to FDVV (3.04%). In terms of maximum drawdown, FDVV dropped -40.25% vs USD's -88.63%.

Which ETF is better, FDVV or USD?

On 5-year performance, USD leads with 55.02% vs 14.17% for FDVV. On fees, FDVV is cheaper at 0.29% per year. On volatility, FDVV has been the lower-risk option at 3.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDVV or USD?

Over the 5-year period, USD has performed better with a 55.02% return vs 14.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDVV or USD?

FDVV is cheaper with a 0.29% expense ratio, compared with 0.95% for USD.

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

FDVV has the higher dividend yield at 2.76%, compared with 0.39% for USD.

What is the main difference between FDVV and USD?

FDVV is categorized as Large Cap Blend Equities, while USD is Leveraged Equities. FDVV tracks Fidelity Core Dividend Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: Fidelity and ProShares. Their fees differ too: 0.29% for FDVV and 0.95% for USD.

Which has better risk-adjusted returns?

FDVV currently has the higher Sharpe Ratio (1.99 vs 1.15), 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.