SAA vs. FUTG
SAA (ProShares Ultra SmallCap600) and FUTG (Leverage Shares 2X Long FUTU Daily ETF) are both Leveraged Equities funds. SAA is passively managed, while FUTG is actively managed. At a 0.42 correlation, their price movements are largely independent. SAA charges 0.95%/yr vs 0.75%/yr for FUTG.
Performance
SAA vs. FUTG - Performance Comparison
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Returns By Period
In the year-to-date period, SAA achieves a 28.22% return, which is significantly higher than FUTG's -75.53% return.
SAA
- 1D
- -1.69%
- 1M
- 3.02%
- YTD
- 28.22%
- 6M
- 25.09%
- 1Y
- 58.28%
- 3Y*
- 17.67%
- 5Y*
- 1.22%
- 10Y*
- 11.43%
FUTG
- 1D
- -11.10%
- 1M
- -70.24%
- YTD
- -75.53%
- 6M
- -77.00%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SAA vs. FUTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SAA ProShares Ultra SmallCap600 | 28.22% | 2.32% |
FUTG Leverage Shares 2X Long FUTU Daily ETF | -75.53% | -0.80% |
Correlation
The correlation between SAA and FUTG is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025 | 0.42 |
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Return for Risk
SAA vs. FUTG — Risk / Return Rank
SAA
FUTG
SAA vs. FUTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra SmallCap600 (SAA) and Leverage Shares 2X Long FUTU Daily ETF (FUTG). 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.
| SAA | FUTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.27 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | — | — |
| Martin ratioReturn relative to average drawdown | 10.38 | — | — |
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
| SAA | FUTG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | -0.66 | +0.84 |
Drawdowns
SAA vs. FUTG - Drawdown Comparison
The maximum SAA drawdown since its inception was -87.39%, roughly equal to the maximum FUTG drawdown of -86.19%. Use the drawdown chart below to compare losses from any high point for SAA and FUTG.
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Drawdown Indicators
| SAA | FUTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.39% | -86.19% | -1.20% |
Max Drawdown (1Y)Largest decline over 1 year | -18.21% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -50.84% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -55.37% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -74.54% | — | — |
Current DrawdownCurrent decline from peak | -4.35% | -84.29% | +79.94% |
Average DrawdownAverage peak-to-trough decline | -27.42% | -40.35% | +12.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.63% | — | — |
Volatility
SAA vs. FUTG - Volatility Comparison
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Volatility by Period
| SAA | FUTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.56% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 23.89% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 35.92% | 136.01% | -100.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.54% | 136.01% | -92.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.13% | 136.01% | -89.88% |
SAA vs. FUTG - Expense Ratio Comparison
SAA has a 0.95% expense ratio, which is higher than FUTG's 0.75% expense ratio.
Dividends
SAA vs. FUTG - Dividend Comparison
SAA's dividend yield for the trailing twelve months is around 0.79%, while FUTG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FUTG Leverage Shares 2X Long FUTU Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SAA ProShares Ultra SmallCap600 | 0.79% | 1.05% | 1.36% | 0.88% | 0.46% | 0.00% | 0.03% | 0.35% | 0.27% | 0.00% | 0.14% |
Frequently Asked Questions
SAA and FUTG have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FUTG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FUTG is cheaper with a 0.75% expense ratio, compared with 0.95% for SAA.
SAA has the higher dividend yield at 0.79%, compared with 0.00% for FUTG.
They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for SAA and 0.75% for FUTG.
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