SARK vs. SPXU

Last updated Jun 24, 2026

SARK (Tradr Short Innovation Daily ETF) and SPXU (ProShares UltraPro Short S&P500) are both exchange-traded funds - SARK is a Inverse Equities fund actively managed by AXS, while SPXU is a S&P 500 fund tracking the S&P 500 Index (-300%). SARK is actively managed, while SPXU is passively managed. Over the past 3 years, SARK returned -30.30%/yr vs -40.85%/yr for SPXU. A 0.74 correlation means they provide meaningful diversification when combined. SARK charges 0.75%/yr vs 0.90%/yr for SPXU.

Performance

SARK vs. SPXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr Short Innovation Daily ETF (SARK) and ProShares UltraPro Short S&P500 (SPXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SARK achieves a -6.20% return, which is significantly higher than SPXU's -20.19% return.

SARK

• 1D: 2.03%
• 1M: -1.78%
• YTD: -6.20%
• 6M: -1.73%
• 1Y: -19.94%
• 3Y*: -30.30%
• 5Y*: —
• 10Y*: —

SPXU

• 1D: 4.24%
• 1M: 3.93%
• YTD: -20.19%
• 6M: -17.81%
• 1Y: -43.92%
• 3Y*: -40.85%
• 5Y*: -33.55%
• 10Y*: -41.98%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SARK vs. SPXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SARK Tradr Short Innovation Daily ETF	-6.20%	-25.93%	-36.90%	-46.32%	83.35%	24.05%
SPXU ProShares UltraPro Short S&P500	-20.19%	-41.73%	-43.31%	-46.02%	36.05%	-6.53%

Correlation

The correlation between SARK and SPXU is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021	0.74

The correlation between SARK and SPXU has been stable across timeframes, ranging from 0.74 to 0.76 - a consistent structural relationship.

Return for Risk

SARK vs. SPXU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SARK

SARK Risk / Return Rank: 4
SARK Sharpe Ratio Rank: 4
SARK Sortino Ratio Rank: 4
SARK Omega Ratio Rank: 5
SARK Calmar Ratio Rank: 3
SARK Martin Ratio Rank: 3

SPXU

SPXU Risk / Return Rank: 1
SPXU Sharpe Ratio Rank: 1
SPXU Sortino Ratio Rank: 1
SPXU Omega Ratio Rank: 1
SPXU Calmar Ratio Rank: 1
SPXU Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SARK vs. SPXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr Short Innovation Daily ETF (SARK) and ProShares UltraPro Short S&P500 (SPXU). 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.

	SARK	SPXU	Difference
Sharpe ratio: Return per unit of total volatility	-0.56	-1.18	+0.62
Sortino ratio: Return per unit of downside risk	-0.62	-1.90	+1.28
Omega ratio: Gain probability vs. loss probability	0.93	0.79	+0.14
Calmar ratio: Return relative to maximum drawdown	-0.75	-0.94	+0.18
Martin ratio: Return relative to average drawdown	-1.26	-1.61	+0.35

SARK vs. SPXU - Sharpe Ratio Comparison

The current SARK Sharpe Ratio is -0.56, which is higher than the SPXU Sharpe Ratio of -1.18. The chart below compares the historical Sharpe Ratios of SARK and SPXU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SARK vs. SPXU - Drawdown Comparison

The maximum SARK drawdown since its inception was -81.07%, smaller than the maximum SPXU drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for SARK and SPXU.

Drawdown Indicators

	SARK	SPXU	Difference
Max Drawdown Largest peak-to-trough decline	-81.07%	-99.99%	+18.92%
Max Drawdown (1Y) Largest decline over 1 year	-26.61%	-47.11%	+20.50%
Max Drawdown (3Y) Largest decline over 3 years	-74.42%	-84.36%	+9.94%
Max Drawdown (5Y) Largest decline over 5 years	—	-90.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.63%	—
Current Drawdown Current decline from peak	-79.29%	-99.99%	+20.70%
Average Drawdown Average peak-to-trough decline	-46.79%	-93.33%	+46.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.99%	29.37%	-13.38%

Volatility

SARK vs. SPXU - Volatility Comparison

The current volatility for Tradr Short Innovation Daily ETF (SARK) is 12.56%, while ProShares UltraPro Short S&P500 (SPXU) has a volatility of 14.32%. This indicates that SARK experiences smaller price fluctuations and is considered to be less risky than SPXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SARK	SPXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.56%	14.32%	-1.76%
Volatility (6M) Calculated over the trailing 6-month period	26.66%	29.53%	-2.87%
Volatility (1Y) Calculated over the trailing 1-year period	35.83%	37.35%	-1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.15%	50.62%	+5.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.15%	53.43%	+2.72%

SARK vs. SPXU - Expense Ratio Comparison

SARK has a 0.75% expense ratio, which is lower than SPXU's 0.90% expense ratio.

Dividends

SARK vs. SPXU - Dividend Comparison

SARK's dividend yield for the trailing twelve months is around 3.00%, less than SPXU's 7.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SARK Tradr Short Innovation Daily ETF	3.00%	2.82%	15.49%	12.57%	25.22%	0.00%	0.00%	0.00%	0.00%	0.00%
SPXU ProShares UltraPro Short S&P500	7.35%	7.02%	9.53%	7.06%	0.39%	0.00%	0.70%	2.14%	1.41%	0.10%

Frequently Asked Questions

Can I hold both SARK and SPXU in my portfolio?

SARK and SPXU have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SARK or SPXU?

SPXU has higher volatility (14.32%) compared to SARK (12.56%). In terms of maximum drawdown, SARK dropped -81.07% vs SPXU's -99.99%.

Which ETF is better, SARK or SPXU?

On 3-year performance, SARK leads with -30.30% vs -40.85% for SPXU. On fees, SARK is cheaper at 0.75% per year. On volatility, SARK has been the lower-risk option at 12.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SARK or SPXU?

Over the 3-year period, SARK has performed better with a -30.30% return vs -40.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SARK or SPXU?

SARK is cheaper with a 0.75% expense ratio, compared with 0.90% for SPXU.

Which ETF pays a higher dividend yield, SARK or SPXU?

SPXU has the higher dividend yield at 7.35%, compared with 3.00% for SARK.

What is the main difference between SARK and SPXU?

SARK is categorized as Inverse Equities, while SPXU is S&P 500. They also come from different issuers: AXS and ProShares. Their fees differ too: 0.75% for SARK and 0.90% for SPXU.

Which has better risk-adjusted returns?

SARK currently has the higher Sharpe Ratio (-0.56 vs -1.18), 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.