SAA vs. UMDD
Compare and contrast key facts about ProShares Ultra SmallCap600 (SAA) and ProShares UltraPro MidCap400 (UMDD).
SAA and UMDD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SAA is a passively managed fund by ProShares that tracks the performance of the S&P SmallCap 600 Index (200%). It was launched on Jan 25, 2007. UMDD is a passively managed fund by ProShares that tracks the performance of the S&P MidCap 400 Index (300%). It was launched on Feb 9, 2010. Both SAA and UMDD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SAA or UMDD.
Key characteristics
| SAA | UMDD | |
|---|---|---|
| YTD Return | 21.87% | 43.68% |
| 1Y Return | 69.42% | 109.54% |
| 3Y Return (Ann) | -4.61% | -5.21% |
| 5Y Return (Ann) | 9.03% | 7.87% |
| 10Y Return (Ann) | 11.98% | 11.60% |
| Sharpe Ratio | 1.63 | 2.22 |
| Sortino Ratio | 2.36 | 2.75 |
| Omega Ratio | 1.28 | 1.34 |
| Calmar Ratio | 1.41 | 1.82 |
| Martin Ratio | 8.00 | 11.45 |
| Ulcer Index | 8.69% | 9.48% |
| Daily Std Dev | 42.57% | 48.79% |
| Max Drawdown | -87.40% | -86.24% |
| Current Drawdown | -14.16% | -15.61% |
Correlation
The correlation between SAA and UMDD is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
SAA vs. UMDD - Performance Comparison
In the year-to-date period, SAA achieves a 21.87% return, which is significantly lower than UMDD's 43.68% return. Both investments have delivered pretty close results over the past 10 years, with SAA having a 11.98% annualized return and UMDD not far behind at 11.60%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SAA vs. UMDD - Expense Ratio Comparison
Both SAA and UMDD have an expense ratio of 0.95%.
Risk-Adjusted Performance
SAA vs. UMDD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra SmallCap600 (SAA) and ProShares UltraPro MidCap400 (UMDD). 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.
Dividends
SAA vs. UMDD - Dividend Comparison
SAA's dividend yield for the trailing twelve months is around 1.07%, more than UMDD's 0.42% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
SAA ProShares Ultra SmallCap600 | 1.07% | 0.87% | 0.46% | 0.00% | 0.03% | 0.35% | 0.27% | 0.00% | 0.41% | 0.00% | 0.00% |
UMDD ProShares UltraPro MidCap400 | 0.42% | 0.19% | 0.49% | 0.06% | 0.08% | 0.64% | 0.32% | 0.00% | 0.03% | 0.06% | 0.08% |
Drawdowns
SAA vs. UMDD - Drawdown Comparison
The maximum SAA drawdown since its inception was -87.40%, roughly equal to the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for SAA and UMDD. For additional features, visit the drawdowns tool.
Volatility
SAA vs. UMDD - Volatility Comparison
ProShares Ultra SmallCap600 (SAA) and ProShares UltraPro MidCap400 (UMDD) have volatilities of 14.96% and 15.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.