LTL vs. WDAY

Last updated Jun 23, 2026

LTL (ProShares Ultra Telecommunications) is Leveraged Equities fund tracking the Dow Jones U.S. Select Telecommunications Index (200%), while WDAY (Workday, Inc.) is a stock. Over the past 10 years, LTL returned 7.38%/yr vs 4.32%/yr for WDAY. At a 0.28 correlation, their price movements are largely independent.

Performance

LTL vs. WDAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Telecommunications (LTL) and Workday, Inc. (WDAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LTL achieves a -19.62% return, which is significantly higher than WDAY's -47.37% return. Over the past 10 years, LTL has outperformed WDAY with an annualized return of 7.38%, while WDAY has yielded a comparatively lower 4.32% annualized return.

LTL

• 1D: -4.20%
• 1M: -14.53%
• YTD: -19.62%
• 6M: -18.20%
• 1Y: 2.97%
• 3Y*: 30.89%
• 5Y*: 14.78%
• 10Y*: 7.38%

WDAY

• 1D: -3.33%
• 1M: -11.78%
• YTD: -47.37%
• 6M: -48.14%
• 1Y: -52.54%
• 3Y*: -20.18%
• 5Y*: -13.88%
• 10Y*: 4.32%

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

LTL vs. WDAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LTL ProShares Ultra Telecommunications	-19.62%	37.06%	65.15%	62.03%	-41.14%	40.42%	-3.25%	30.16%	-23.44%	-26.85%
WDAY Workday, Inc.	-47.37%	-16.76%	-6.53%	64.98%	-38.75%	14.01%	45.70%	2.99%	56.95%	53.94%

Correlation

The correlation between LTL and WDAY is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 12, 2012	0.28

The correlation between LTL and WDAY shifts across timeframes, from 0.21 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

LTL vs. WDAY — Risk / Return Rank

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

LTL

LTL Risk / Return Rank: 10
LTL Sharpe Ratio Rank: 10
LTL Sortino Ratio Rank: 10
LTL Omega Ratio Rank: 10
LTL Calmar Ratio Rank: 10
LTL Martin Ratio Rank: 10

WDAY

WDAY Risk / Return Rank: 3
WDAY Sharpe Ratio Rank: 2
WDAY Sortino Ratio Rank: 3
WDAY Omega Ratio Rank: 4
WDAY Calmar Ratio Rank: 3
WDAY Martin Ratio Rank: 2

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.

LTL vs. WDAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Telecommunications (LTL) and Workday, Inc. (WDAY). 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.

	LTL	WDAY	Difference
Sharpe ratio: Return per unit of total volatility	0.11	-1.19	+1.30
Sortino ratio: Return per unit of downside risk	0.35	-1.97	+2.32
Omega ratio: Gain probability vs. loss probability	1.04	0.77	+0.27
Calmar ratio: Return relative to maximum drawdown	0.13	-0.97	+1.10
Martin ratio: Return relative to average drawdown	0.37	-1.75	+2.12

LTL vs. WDAY - Sharpe Ratio Comparison

The current LTL Sharpe Ratio is 0.11, which is higher than the WDAY Sharpe Ratio of -1.19. The chart below compares the historical Sharpe Ratios of LTL and WDAY, 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

LTL vs. WDAY - Drawdown Comparison

The maximum LTL drawdown since its inception was -80.20%, which is greater than WDAY's maximum drawdown of -63.38%. Use the drawdown chart below to compare losses from any high point for LTL and WDAY.

Drawdown Indicators

	LTL	WDAY	Difference
Max Drawdown Largest peak-to-trough decline	-80.20%	-63.38%	-16.82%
Max Drawdown (1Y) Largest decline over 1 year	-22.45%	-54.58%	+32.13%
Max Drawdown (3Y) Largest decline over 3 years	-34.37%	-63.38%	+29.01%
Max Drawdown (5Y) Largest decline over 5 years	-52.60%	-63.38%	+10.78%
Max Drawdown (10Y) Largest decline over 10 years	-64.15%	-63.38%	-0.77%
Current Drawdown Current decline from peak	-22.45%	-63.20%	+40.75%
Average Drawdown Average peak-to-trough decline	-28.62%	-21.02%	-7.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.11%	29.97%	-21.86%

Volatility

LTL vs. WDAY - Volatility Comparison

The current volatility for ProShares Ultra Telecommunications (LTL) is 9.53%, while Workday, Inc. (WDAY) has a volatility of 19.96%. This indicates that LTL experiences smaller price fluctuations and is considered to be less risky than WDAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTL	WDAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.53%	19.96%	-10.43%
Volatility (6M) Calculated over the trailing 6-month period	20.72%	37.93%	-17.21%
Volatility (1Y) Calculated over the trailing 1-year period	27.45%	44.20%	-16.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.70%	39.14%	-4.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.97%	38.99%	-2.02%

Dividends

LTL vs. WDAY - Dividend Comparison

LTL's dividend yield for the trailing twelve months is around 1.01%, while WDAY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LTL ProShares Ultra Telecommunications	1.01%	0.64%	0.29%	0.97%	2.01%	1.14%	1.57%	0.83%	1.99%	1.96%	0.70%	1.55%
WDAY Workday, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LTL and WDAY in my portfolio?

LTL and WDAY have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LTL or WDAY?

WDAY has higher volatility (19.96%) compared to LTL (9.53%). In terms of maximum drawdown, LTL dropped -80.20% vs WDAY's -63.38%.

Which has better risk-adjusted returns?

LTL currently has the higher Sharpe Ratio (0.11 vs -1.19), 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.