MYY vs. USD
MYY (ProShares Short S&P Mid Cap400) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%), while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, MYY returned -11.74%/yr vs 62.72%/yr for USD. At a correlation of -0.68, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
MYY vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -12.52% return, which is significantly lower than USD's 92.18% return. Over the past 10 years, MYY has underperformed USD with an annualized return of -11.74%, while USD has yielded a comparatively higher 62.72% annualized return.
MYY
- 1D
- -0.74%
- 1M
- -2.15%
- YTD
- -12.52%
- 6M
- -10.65%
- 1Y
- -17.63%
- 3Y*
- -10.09%
- 5Y*
- -6.17%
- 10Y*
- -11.74%
USD
- 1D
- 4.73%
- 1M
- -0.57%
- YTD
- 92.18%
- 6M
- 86.88%
- 1Y
- 185.02%
- 3Y*
- 118.50%
- 5Y*
- 64.73%
- 10Y*
- 62.72%
MYY vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -12.52% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
USD ProShares Ultra Semiconductors | 92.18% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between MYY and USD is -0.46, 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 | -0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.60 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.68 |
Over the past year, the inverse relationship between MYY and USD has weakened: their correlation has moved from -0.68 to -0.46, meaning they move in opposite directions less often than they have historically.
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Return for Risk
MYY vs. USD — Risk / Return Rank
MYY
USD
MYY vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) 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.
| MYY | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.87 | ||
| Sortino ratioReturn per unit of downside risk | -4.29 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.38 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | 5.86 | -6.87 |
| Martin ratioReturn relative to average drawdown | -1.96 | 16.16 | -18.12 |
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Drawdowns
MYY vs. USD - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.15%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for MYY and USD.
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Drawdown Indicators
| MYY | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.15% | -88.63% | -6.52% |
Max Drawdown (1Y)Largest decline over 1 year | -17.46% | -31.80% | +14.34% |
Max Drawdown (3Y)Largest decline over 3 years | -34.51% | -64.46% | +29.95% |
Max Drawdown (5Y)Largest decline over 5 years | -37.19% | -77.85% | +40.66% |
Max Drawdown (10Y)Largest decline over 10 years | -71.66% | -77.85% | +6.19% |
Current DrawdownCurrent decline from peak | -95.15% | -11.21% | -83.94% |
Average DrawdownAverage peak-to-trough decline | -72.20% | -32.29% | -39.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.31% | 11.50% | -2.19% |
Volatility
MYY vs. USD - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.30%, while ProShares Ultra Semiconductors (USD) has a volatility of 33.79%. This indicates that MYY 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.
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Volatility by Period
| MYY | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 33.79% | -29.49% |
Volatility (6M)Calculated over the trailing 6-month period | 11.74% | 53.90% | -42.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.84% | 67.84% | -52.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.63% | 77.74% | -58.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.24% | 69.82% | -48.58% |
MYY vs. USD - Expense Ratio Comparison
Both MYY and USD have an expense ratio of 0.95%.
Dividends
MYY vs. USD - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.36%, more than USD's 0.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | 4.36% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.30% | 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
MYY and USD have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (33.79%) compared to MYY (4.30%). In terms of maximum drawdown, MYY dropped -95.15% vs USD's -88.63%.
On 10-year performance, USD leads with 62.72% vs -11.74% for MYY. Both ETFs have the same 0.95% expense ratio. On volatility, MYY has been the lower-risk option at 4.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USD has performed better with a 62.72% return vs -11.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MYY and USD have the same expense ratio: 0.95% per year.
MYY has the higher dividend yield at 4.36%, compared with 0.30% for USD.
MYY is categorized as Inverse Equities, while USD is Leveraged Equities. MYY tracks S&P Mid Cap 400 (-100%), while USD tracks Dow Jones U.S. Semiconductors Index (200%).
USD currently has the higher Sharpe Ratio (2.75 vs -1.12), 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.
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