GQGU vs. USD

Last updated Jul 18, 2026

GQGU (GQG US Equity ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - GQGU is a Large Cap Growth Equities fund actively managed by GQG Partners, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). GQGU is actively managed, while USD is passively managed. Over the past year, GQGU returned 5.06% vs 96.75% for USD. At a correlation of -0.42, they often move in opposite directions. GQGU charges 0.49%/yr vs 0.95%/yr for USD.

Performance

GQGU vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GQG US Equity ETF (GQGU) 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, GQGU achieves a 5.66% return, which is significantly lower than USD's 57.07% return.

GQGU

• 1D: -0.08%
• 1M: 2.20%
• 6M: 4.36%
• YTD: 5.66%
• 1Y: 5.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USD

• 1D: -3.79%
• 1M: -16.88%
• 6M: 43.24%
• YTD: 57.07%
• 1Y: 96.75%
• 3Y*: 90.78%
• 5Y*: 60.45%
• 10Y*: 55.77%

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

GQGU vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025
GQGU GQG US Equity ETF	5.66%	-1.12%
USD ProShares Ultra Semiconductors	57.07%	33.82%

Correlation

The correlation between GQGU and USD is -0.41, 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	-0.42
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	-0.42

Return for Risk

GQGU vs. USD — Risk / Return Rank

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

GQGU

GQGU Risk / Return Rank: 18
GQGU Sharpe Ratio Rank: 19
GQGU Sortino Ratio Rank: 18
GQGU Omega Ratio Rank: 17
GQGU Calmar Ratio Rank: 19
GQGU Martin Ratio Rank: 19

USD

USD Risk / Return Rank: 54
USD Sharpe Ratio Rank: 49
USD Sortino Ratio Rank: 44
USD Omega Ratio Rank: 47
USD Calmar Ratio Rank: 75
USD Martin Ratio Rank: 57

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.

GQGU vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GQG US Equity ETF (GQGU) 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.

	GQGU	USD	Difference
Sharpe ratio: Return per unit of total volatility	0.48	1.37	-0.89
Sortino ratio: Return per unit of downside risk	0.76	1.87	-1.12
Omega ratio: Gain probability vs. loss probability	1.09	1.24	-0.16
Calmar ratio: Return relative to maximum drawdown	0.60	3.06	-2.45
Martin ratio: Return relative to average drawdown	1.45	7.80	-6.35

GQGU vs. USD - Sharpe Ratio Comparison

The current GQGU Sharpe Ratio is 0.48, which is lower than the USD Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of GQGU 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

GQGU vs. USD - Drawdown Comparison

The maximum GQGU drawdown since its inception was -8.41%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for GQGU and USD.

Drawdown Indicators

	GQGU	USD	Difference
Max Drawdown Largest peak-to-trough decline	-8.41%	-88.63%	+80.22%
Max Drawdown (1Y) Largest decline over 1 year	-8.41%	-31.80%	+23.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-64.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	-5.49%	-27.44%	+21.95%
Average Drawdown Average peak-to-trough decline	-2.92%	-32.24%	+29.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	12.44%	-8.94%

Volatility

GQGU vs. USD - Volatility Comparison

The current volatility for GQG US Equity ETF (GQGU) is 4.36%, while ProShares Ultra Semiconductors (USD) has a volatility of 29.85%. This indicates that GQGU 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

	GQGU	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	29.85%	-25.49%
Volatility (6M) Calculated over the trailing 6-month period	8.42%	58.53%	-50.11%
Volatility (1Y) Calculated over the trailing 1-year period	10.70%	71.17%	-60.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.66%	78.27%	-67.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.66%	70.11%	-59.45%

GQGU vs. USD - Expense Ratio Comparison

GQGU has a 0.49% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

GQGU vs. USD - Dividend Comparison

GQGU's dividend yield for the trailing twelve months is around 0.96%, more than USD's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQGU GQG US Equity ETF	0.96%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.37%	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 GQGU and USD in my portfolio?

GQGU and USD have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GQGU or USD?

USD has higher volatility (29.85%) compared to GQGU (4.36%). In terms of maximum drawdown, GQGU dropped -8.41% vs USD's -88.63%.

Which ETF is better, GQGU or USD?

On 1-year performance, USD leads with 96.75% vs 5.06% for GQGU. On fees, GQGU is cheaper at 0.49% per year. On volatility, GQGU has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GQGU or USD?

Over the 1-year period, USD has performed better with a 96.75% return vs 5.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GQGU or USD?

GQGU is cheaper with a 0.49% expense ratio, compared with 0.95% for USD.

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

GQGU has the higher dividend yield at 0.96%, compared with 0.37% for USD.

What is the main difference between GQGU and USD?

GQGU is categorized as Large Cap Growth Equities, while USD is Leveraged Equities. They also come from different issuers: GQG Partners and ProShares. Their fees differ too: 0.49% for GQGU and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (1.37 vs 0.48), 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.