PEX vs. USD
Compare and contrast key facts about ProShares Global Listed Private Equity ETF (PEX) and ProShares Ultra Semiconductors (USD).
PEX and USD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PEX is a passively managed fund by ProShares that tracks the performance of the LPX Direct Listed Private Equity Index. It was launched on Feb 26, 2013. USD is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Semiconductors Index (200%). It was launched on Jan 30, 2007. Both PEX and USD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PEX vs. USD - Performance Comparison
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PEX vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | -13.96% | 0.21% | 13.05% | 23.11% | -25.98% | 28.34% | -1.14% | 25.53% | -13.31% | 14.33% |
USD ProShares Ultra Semiconductors | -4.90% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Returns By Period
In the year-to-date period, PEX achieves a -13.96% return, which is significantly lower than USD's -4.90% return. Over the past 10 years, PEX has underperformed USD with an annualized return of 4.38%, while USD has yielded a comparatively higher 50.62% annualized return.
PEX
- 1D
- 2.67%
- 1M
- -6.84%
- YTD
- -13.96%
- 6M
- -15.90%
- 1Y
- -12.72%
- 3Y*
- 4.51%
- 5Y*
- 0.04%
- 10Y*
- 4.38%
USD
- 1D
- 4.03%
- 1M
- -7.90%
- YTD
- -4.90%
- 6M
- -1.21%
- 1Y
- 145.25%
- 3Y*
- 90.90%
- 5Y*
- 44.58%
- 10Y*
- 50.62%
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PEX vs. USD - Expense Ratio Comparison
PEX has a 3.13% expense ratio, which is higher than USD's 0.95% expense ratio.
Return for Risk
PEX vs. USD — Risk / Return Rank
PEX
USD
PEX vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Global Listed Private Equity ETF (PEX) 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.
| PEX | USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.68 | 1.90 | -2.57 |
Sortino ratioReturn per unit of downside risk | -0.87 | 2.44 | -3.31 |
Omega ratioGain probability vs. loss probability | 0.89 | 1.34 | -0.45 |
Calmar ratioReturn relative to maximum drawdown | -0.54 | 4.67 | -5.21 |
Martin ratioReturn relative to average drawdown | -1.39 | 12.81 | -14.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PEX | USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.68 | 1.90 | -2.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.59 | -0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.74 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.41 | -0.16 |
Correlation
The correlation between PEX and USD is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PEX vs. USD - Dividend Comparison
PEX's dividend yield for the trailing twelve months is around 13.04%, more than USD's 0.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEX ProShares Global Listed Private Equity ETF | 13.04% | 12.80% | 14.11% | 13.02% | 1.77% | 13.64% | 5.52% | 7.94% | 4.72% | 24.26% | 3.24% | 12.50% |
USD ProShares Ultra Semiconductors | 0.48% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Drawdowns
PEX vs. USD - Drawdown Comparison
The maximum PEX drawdown since its inception was -49.17%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for PEX and USD.
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Drawdown Indicators
| PEX | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.17% | -88.63% | +39.46% |
Max Drawdown (1Y)Largest decline over 1 year | -24.72% | -31.80% | +7.08% |
Max Drawdown (5Y)Largest decline over 5 years | -36.58% | -77.85% | +41.27% |
Max Drawdown (10Y)Largest decline over 10 years | -49.17% | -77.85% | +28.68% |
Current DrawdownCurrent decline from peak | -22.24% | -21.24% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -8.08% | -32.60% | +24.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.64% | 11.60% | -1.96% |
Volatility
PEX vs. USD - Volatility Comparison
The current volatility for ProShares Global Listed Private Equity ETF (PEX) is 6.62%, while ProShares Ultra Semiconductors (USD) has a volatility of 21.67%. This indicates that PEX 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
| PEX | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 21.67% | -15.05% |
Volatility (6M)Calculated over the trailing 6-month period | 11.91% | 48.73% | -36.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.91% | 77.08% | -58.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.81% | 76.24% | -58.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.38% | 68.85% | -49.47% |