MYY vs. DOG

Last updated Jun 24, 2026

MYY (ProShares Short S&P Mid Cap400) and DOG (ProShares Short Dow30) are both Inverse Equities funds from ProShares - MYY tracks the S&P Mid Cap 400 (-100%) while DOG tracks the DJ Industrial Average (-100%). Both are passively managed. Over the past 10 years, MYY returned -11.38%/yr vs -11.50%/yr for DOG. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.

Performance

MYY vs. DOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short S&P Mid Cap400 (MYY) and ProShares Short Dow30 (DOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MYY achieves a -11.47% return, which is significantly lower than DOG's -5.77% return. Both investments have delivered pretty close results over the past 10 years, with MYY having a -11.38% annualized return and DOG not far behind at -11.50%.

MYY

• 1D: 0.97%
• 1M: -2.32%
• YTD: -11.47%
• 6M: -9.76%
• 1Y: -16.72%
• 3Y*: -9.96%
• 5Y*: -6.13%
• 10Y*: -11.38%

DOG

• 1D: 0.05%
• 1M: -2.00%
• YTD: -5.77%
• 6M: -4.85%
• 1Y: -14.33%
• 3Y*: -8.97%
• 5Y*: -5.91%
• 10Y*: -11.50%

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

MYY vs. DOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MYY ProShares Short S&P Mid Cap400	-11.47%	-4.05%	-7.08%	-9.46%	10.23%	-23.04%	-25.94%	-19.98%	12.79%	-14.63%
DOG ProShares Short Dow30	-5.77%	-8.40%	-5.62%	-7.05%	5.67%	-19.21%	-20.45%	-18.43%	3.55%	-21.51%

Correlation

The correlation between MYY and DOG is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	0.84

The correlation between MYY and DOG has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

Return for Risk

MYY vs. DOG — Risk / Return Rank

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

MYY

MYY Risk / Return Rank: 1
MYY Sharpe Ratio Rank: 1
MYY Sortino Ratio Rank: 2
MYY Omega Ratio Rank: 2
MYY Calmar Ratio Rank: 1
MYY Martin Ratio Rank: 0

DOG

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

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.

MYY vs. DOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) and ProShares Short Dow30 (DOG). 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.

	MYY	DOG	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	-1.16	+0.10
Sortino ratio: Return per unit of downside risk	-1.43	-1.57	+0.15
Omega ratio: Gain probability vs. loss probability	0.84	0.82	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.96	-1.02	+0.06
Martin ratio: Return relative to average drawdown	-1.82	-1.82	0.00

MYY vs. DOG - Sharpe Ratio Comparison

The current MYY Sharpe Ratio is -1.06, which is comparable to the DOG Sharpe Ratio of -1.16. The chart below compares the historical Sharpe Ratios of MYY and DOG, 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

MYY vs. DOG - Drawdown Comparison

The maximum MYY drawdown since its inception was -95.14%, roughly equal to the maximum DOG drawdown of -92.79%. Use the drawdown chart below to compare losses from any high point for MYY and DOG.

Drawdown Indicators

	MYY	DOG	Difference
Max Drawdown Largest peak-to-trough decline	-95.14%	-92.79%	-2.35%
Max Drawdown (1Y) Largest decline over 1 year	-17.48%	-14.12%	-3.36%
Max Drawdown (3Y) Largest decline over 3 years	-34.39%	-29.71%	-4.68%
Max Drawdown (5Y) Largest decline over 5 years	-37.07%	-34.86%	-2.21%
Max Drawdown (10Y) Largest decline over 10 years	-71.61%	-71.17%	-0.44%
Current Drawdown Current decline from peak	-95.09%	-92.73%	-2.36%
Average Drawdown Average peak-to-trough decline	-72.19%	-66.45%	-5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.25%	8.69%	+0.56%

Volatility

MYY vs. DOG - Volatility Comparison

ProShares Short S&P Mid Cap400 (MYY) has a higher volatility of 4.50% compared to ProShares Short Dow30 (DOG) at 4.15%. This indicates that MYY's price experiences larger fluctuations and is considered to be riskier than DOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MYY	DOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	4.15%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	11.75%	9.86%	+1.89%
Volatility (1Y) Calculated over the trailing 1-year period	15.86%	12.45%	+3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.63%	14.83%	+4.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.24%	17.49%	+3.75%

MYY vs. DOG - Expense Ratio Comparison

Both MYY and DOG have an expense ratio of 0.95%.

Dividends

MYY vs. DOG - Dividend Comparison

MYY's dividend yield for the trailing twelve months is around 4.47%, more than DOG's 3.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DOG ProShares Short Dow30	3.55%	3.65%	5.72%	4.54%	0.41%	0.00%	0.14%	1.54%	0.86%	0.04%
MYY ProShares Short S&P Mid Cap400	4.47%	4.20%	4.92%	5.08%	0.40%	0.00%	0.05%	1.52%	0.34%	0.00%

Frequently Asked Questions

Can I hold both MYY and DOG in my portfolio?

MYY and DOG have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MYY or DOG?

MYY has higher volatility (4.50%) compared to DOG (4.15%). In terms of maximum drawdown, MYY dropped -95.14% vs DOG's -92.79%.

Which ETF is better, MYY or DOG?

On 10-year performance, MYY leads with -11.38% vs -11.50% for DOG. Both ETFs have the same 0.95% expense ratio. On volatility, DOG has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MYY or DOG?

Over the 10-year period, MYY has performed better with a -11.38% return vs -11.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MYY or DOG?

MYY and DOG have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, MYY or DOG?

MYY has the higher dividend yield at 4.47%, compared with 3.55% for DOG.

What is the main difference between MYY and DOG?

MYY tracks S&P Mid Cap 400 (-100%), while DOG tracks DJ Industrial Average (-100%).

Which has better risk-adjusted returns?

MYY currently has the higher Sharpe Ratio (-1.06 vs -1.16), 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.