RXL vs. USD
RXL (ProShares Ultra Health Care) and USD (ProShares Ultra Semiconductors) are both Leveraged Equities funds from ProShares - RXL tracks the Dow Jones U.S. Health Care Index (200%) while USD tracks the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, RXL returned 13.05%/yr vs 61.02%/yr for USD. At a 0.48 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
RXL vs. USD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, RXL achieves a -5.37% return, which is significantly lower than USD's 84.65% return. Over the past 10 years, RXL has underperformed USD with an annualized return of 13.05%, while USD has yielded a comparatively higher 61.02% annualized return.
RXL
- 1D
- 2.50%
- 1M
- 3.01%
- YTD
- -5.37%
- 6M
- -5.67%
- 1Y
- 26.56%
- 3Y*
- 4.63%
- 5Y*
- 1.95%
- 10Y*
- 13.05%
USD
- 1D
- -12.35%
- 1M
- 1.73%
- YTD
- 84.65%
- 6M
- 79.76%
- 1Y
- 206.76%
- 3Y*
- 114.28%
- 5Y*
- 63.13%
- 10Y*
- 61.02%
RXL vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXL ProShares Ultra Health Care | -5.37% | 19.76% | -2.72% | -3.15% | -15.26% | 48.06% | 19.24% | 40.40% | 3.38% | 46.92% |
USD ProShares Ultra Semiconductors | 84.65% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between RXL and USD is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | 0.48 |
The correlation between RXL and USD shifts across timeframes, from -0.03 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.
RXL vs. USD - Sectors Allocation Comparison
Sectors
RXL
USD
Healthcare
-
Financial Services
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Industrials
-
-
Real Estate
-
-
Technology
-
Utilities
-
-
Healthcare
RXL
USD
-
Financial Services
RXL
USD
Basic Materials
RXL
-
USD
-
Communication Services
RXL
-
USD
-
Consumer Cyclical
RXL
-
USD
-
Consumer Defensive
RXL
-
USD
-
Energy
RXL
-
USD
Industrials
RXL
-
USD
-
Real Estate
RXL
-
USD
-
Technology
RXL
-
USD
Utilities
RXL
-
USD
-
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
RXL vs. USD — Risk / Return Rank
RXL
USD
RXL vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Health Care (RXL) 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.
| RXL | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.40 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 6.54 | -5.29 |
| Martin ratioReturn relative to average drawdown | 2.85 | 18.16 | -15.30 |
Loading charts...
Drawdowns
RXL vs. USD - Drawdown Comparison
The maximum RXL drawdown since its inception was -67.70%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for RXL and USD.
Loading charts...
Drawdown Indicators
| RXL | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.70% | -88.63% | +20.93% |
Max Drawdown (1Y)Largest decline over 1 year | -21.33% | -31.80% | +10.47% |
Max Drawdown (3Y)Largest decline over 3 years | -36.08% | -64.46% | +28.38% |
Max Drawdown (5Y)Largest decline over 5 years | -36.08% | -77.85% | +41.77% |
Max Drawdown (10Y)Largest decline over 10 years | -51.00% | -77.85% | +26.85% |
Current DrawdownCurrent decline from peak | -14.00% | -14.69% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -15.85% | -32.29% | +16.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.33% | 11.44% | -2.11% |
Volatility
RXL vs. USD - Volatility Comparison
The current volatility for ProShares Ultra Health Care (RXL) is 10.70%, while ProShares Ultra Semiconductors (USD) has a volatility of 34.07%. This indicates that RXL 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.
Loading charts...
Volatility by Period
| RXL | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.70% | 34.07% | -23.37% |
Volatility (6M)Calculated over the trailing 6-month period | 21.46% | 54.13% | -32.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.42% | 67.96% | -37.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.76% | 77.73% | -47.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.28% | 69.83% | -36.55% |
RXL vs. USD - Expense Ratio Comparison
Both RXL and USD have an expense ratio of 0.95%.
Dividends
RXL vs. USD - Dividend Comparison
RXL's dividend yield for the trailing twelve months is around 1.54%, more than USD's 0.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RXL ProShares Ultra Health Care | 1.54% | 1.43% | 1.22% | 0.18% | 0.32% | 0.10% | 0.15% | 0.27% | 0.32% | 0.11% | 0.12% | 0.93% |
USD ProShares Ultra Semiconductors | 0.25% | 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
RXL and USD have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (34.07%) compared to RXL (10.70%). In terms of maximum drawdown, RXL dropped -67.70% vs USD's -88.63%.
On 10-year performance, USD leads with 61.02% vs 13.05% for RXL. Both ETFs have the same 0.95% expense ratio. On volatility, RXL has been the lower-risk option at 10.70%. 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 61.02% return vs 13.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RXL and USD have the same expense ratio: 0.95% per year.
RXL has the higher dividend yield at 1.54%, compared with 0.25% for USD.
RXL tracks Dow Jones U.S. Health Care Index (200%), while USD tracks Dow Jones U.S. Semiconductors Index (200%).
USD currently has the higher Sharpe Ratio (3.06 vs 0.88), 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.
Find the right allocation for RXL and USD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer