HOOZ vs. SPXU

Last updated Jun 6, 2026

HOOZ (Defiance Daily Target 2X Short HOOD ETF) and SPXU (ProShares UltraPro Short S&P500) are both exchange-traded funds - HOOZ is a Inverse Equities fund tracking the Robinhood Markets, Inc., while SPXU is a S&P 500 fund tracking the S&P 500 Index (-300%). Both are passively managed. A 0.67 correlation means they provide meaningful diversification when combined. HOOZ charges 1.31%/yr vs 0.90%/yr for SPXU.

Performance

HOOZ vs. SPXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Short HOOD ETF (HOOZ) and ProShares UltraPro Short S&P500 (SPXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOOZ achieves a -11.18% return, which is significantly higher than SPXU's -20.60% return.

HOOZ

• 1D: 13.13%
• 1M: -22.74%
• YTD: -11.18%
• 6M: 15.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPXU

• 1D: 7.91%
• 1M: -1.04%
• YTD: -20.60%
• 6M: -19.49%
• 1Y: -46.41%
• 3Y*: -41.75%
• 5Y*: -34.03%
• 10Y*: -41.46%

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

HOOZ vs. SPXU - Yearly Performance Comparison

	2026 (YTD)	2025
HOOZ Defiance Daily Target 2X Short HOOD ETF	-11.18%	-2.76%
SPXU ProShares UltraPro Short S&P500	-20.60%	-4.04%

Correlation

The correlation between HOOZ and SPXU is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025	0.67

Return for Risk

HOOZ vs. SPXU — Risk / Return Rank

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

SPXU

SPXU Risk / Return Rank: 1
SPXU Sharpe Ratio Rank: 0
SPXU Sortino Ratio Rank: 1
SPXU Omega Ratio Rank: 1
SPXU Calmar Ratio Rank: 1
SPXU Martin Ratio Rank: 1

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.

HOOZ vs. SPXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short HOOD ETF (HOOZ) and ProShares UltraPro Short S&P500 (SPXU). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HOOZ	SPXU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-1.28	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.68	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.16	-0.83	+0.67

Drawdowns

HOOZ vs. SPXU - Drawdown Comparison

The maximum HOOZ drawdown since its inception was -66.52%, smaller than the maximum SPXU drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for HOOZ and SPXU.

Drawdown Indicators

	HOOZ	SPXU	Difference
Max Drawdown Largest peak-to-trough decline	-66.52%	-99.99%	+33.47%
Max Drawdown (1Y) Largest decline over 1 year	—	-50.35%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-84.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.63%	—
Current Drawdown Current decline from peak	-58.26%	-99.99%	+41.73%
Average Drawdown Average peak-to-trough decline	-29.37%	-93.33%	+63.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	30.37%	—

Volatility

Volatility by Period

	HOOZ	SPXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	27.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	146.04%	36.27%	+109.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	146.04%	50.42%	+95.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.04%	53.43%	+92.61%

HOOZ vs. SPXU - Expense Ratio Comparison

HOOZ has a 1.31% expense ratio, which is higher than SPXU's 0.90% expense ratio.

Dividends

HOOZ vs. SPXU - Dividend Comparison

HOOZ has not paid dividends to shareholders, while SPXU's dividend yield for the trailing twelve months is around 7.39%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOOZ Defiance Daily Target 2X Short HOOD ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPXU ProShares UltraPro Short S&P500	7.39%	7.02%	9.53%	7.06%	0.39%	0.00%	0.70%	2.14%	1.41%	0.10%

Frequently Asked Questions

Can I hold both HOOZ and SPXU in my portfolio?

HOOZ and SPXU have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HOOZ or SPXU?

On fees, SPXU is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOOZ or SPXU?

SPXU is cheaper with a 0.90% expense ratio, compared with 1.31% for HOOZ.

Which ETF pays a higher dividend yield, HOOZ or SPXU?

SPXU has the higher dividend yield at 7.39%, compared with 0.00% for HOOZ.

What is the main difference between HOOZ and SPXU?

HOOZ is categorized as Inverse Equities, while SPXU is S&P 500. HOOZ tracks Robinhood Markets, Inc., while SPXU tracks S&P 500 Index (-300%). They also come from different issuers: Defiance and ProShares. Their fees differ too: 1.31% for HOOZ and 0.90% for SPXU.