RXD vs. FHLC
RXD (ProShares UltraShort Health Care) and FHLC (Fidelity MSCI Health Care Index ETF) are both exchange-traded funds - RXD is a Leveraged Equities fund tracking the DJ Global United States (All) / Health Care -IND (-200%), while FHLC is a Health & Biotech Equities fund tracking the MSCI USA IMI Health Care Index. Both are passively managed. Over the past 10 years, RXD returned -19.73%/yr vs 9.97%/yr for FHLC. At a correlation of -0.87, they often move in opposite directions. RXD charges 0.95%/yr vs 0.08%/yr for FHLC.
Performance
RXD vs. FHLC - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a -7.87% return, which is significantly lower than FHLC's 6.28% return. Over the past 10 years, RXD has underperformed FHLC with an annualized return of -19.73%, while FHLC has yielded a comparatively higher 9.97% annualized return.
RXD
- 1D
- 1.84%
- 1M
- -9.81%
- 6M
- -4.96%
- YTD
- -7.87%
- 1Y
- -29.71%
- 3Y*
- -10.86%
- 5Y*
- -8.06%
- 10Y*
- -19.73%
FHLC
- 1D
- -1.02%
- 1M
- 6.25%
- 6M
- 4.43%
- YTD
- 6.28%
- 1Y
- 24.02%
- 3Y*
- 9.67%
- 5Y*
- 5.38%
- 10Y*
- 9.97%
RXD vs. FHLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | -7.87% | -21.66% | 4.83% | 3.25% | 1.20% | -37.97% | -44.25% | -32.44% | -14.33% | -35.24% |
FHLC Fidelity MSCI Health Care Index ETF | 6.28% | 15.42% | 2.48% | 2.58% | -5.55% | 20.39% | 18.13% | 21.94% | 4.71% | 23.34% |
Correlation
The correlation between RXD and FHLC is -0.98, 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 | -0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | -0.87 |
The correlation between RXD and FHLC shifts across timeframes, from -0.98 (1 year) to -0.87 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RXD vs. FHLC — Risk / Return Rank
RXD
FHLC
RXD vs. FHLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) and Fidelity MSCI Health Care Index ETF (FHLC). 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.
| RXD | FHLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.41 | ||
| Sortino ratioReturn per unit of downside risk | -3.48 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.26 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.21 | -2.94 |
| Martin ratioReturn relative to average drawdown | -1.18 | 5.47 | -6.64 |
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Drawdowns
RXD vs. FHLC - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.67%, which is greater than FHLC's maximum drawdown of -28.76%. Use the drawdown chart below to compare losses from any high point for RXD and FHLC.
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Drawdown Indicators
| RXD | FHLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.67% | -28.76% | -70.91% |
Max Drawdown (1Y)Largest decline over 1 year | -38.77% | -10.38% | -28.39% |
Max Drawdown (3Y)Largest decline over 3 years | -40.62% | -16.87% | -23.75% |
Max Drawdown (5Y)Largest decline over 5 years | -44.27% | -17.73% | -26.54% |
Max Drawdown (10Y)Largest decline over 10 years | -91.23% | -28.76% | -62.47% |
Current DrawdownCurrent decline from peak | -99.66% | -2.18% | -97.48% |
Average DrawdownAverage peak-to-trough decline | -81.95% | -5.17% | -76.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.20% | 4.20% | +20.00% |
Volatility
RXD vs. FHLC - Volatility Comparison
ProShares UltraShort Health Care (RXD) has a higher volatility of 10.98% compared to Fidelity MSCI Health Care Index ETF (FHLC) at 5.57%. This indicates that RXD's price experiences larger fluctuations and is considered to be riskier than FHLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RXD | FHLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.98% | 5.57% | +5.41% |
Volatility (6M)Calculated over the trailing 6-month period | 23.08% | 11.33% | +11.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.24% | 15.35% | +15.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.13% | 15.17% | +14.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.02% | 16.85% | +16.17% |
RXD vs. FHLC - Expense Ratio Comparison
RXD has a 0.95% expense ratio, which is higher than FHLC's 0.08% expense ratio.
Dividends
RXD vs. FHLC - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 3.22%, more than FHLC's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHLC Fidelity MSCI Health Care Index ETF | 1.30% | 1.40% | 1.51% | 1.40% | 1.30% | 1.16% | 1.45% | 1.18% | 1.38% | 1.38% | 1.40% | 2.07% |
RXD ProShares UltraShort Health Care | 3.22% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RXD and FHLC have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXD has higher volatility (10.98%) compared to FHLC (5.57%). In terms of maximum drawdown, RXD dropped -99.67% vs FHLC's -28.76%.
On 10-year performance, FHLC leads with 9.97% vs -19.73% for RXD. On fees, FHLC is cheaper at 0.08% per year. On volatility, FHLC has been the lower-risk option at 5.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FHLC has performed better with a 9.97% return vs -19.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FHLC is cheaper with a 0.08% expense ratio, compared with 0.95% for RXD.
RXD has the higher dividend yield at 3.22%, compared with 1.30% for FHLC.
RXD is categorized as Leveraged Equities, while FHLC is Health & Biotech Equities. RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while FHLC tracks MSCI USA IMI Health Care Index. They also come from different issuers: ProShares and Fidelity. Their fees differ too: 0.95% for RXD and 0.08% for FHLC.
FHLC currently has the higher Sharpe Ratio (1.49 vs -0.91), 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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