SDD vs. BKSE
SDD (ProShares UltraShort SmallCap600) and BKSE (BNY Mellon US Small Cap Core Equity ETF) are both exchange-traded funds - SDD is a Inverse Equities fund tracking the S&P Small Cap 600 (-200%), while BKSE is a Small Cap Growth Equities fund tracking the Morningstar US Small Cap Index. Both are passively managed. Over the past 5 years, SDD returned -14.95%/yr vs 6.65%/yr for BKSE. At a correlation of -0.96, they often move in opposite directions. SDD charges 0.95%/yr vs 0.04%/yr for BKSE.
Performance
SDD vs. BKSE - Performance Comparison
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Returns By Period
In the year-to-date period, SDD achieves a -23.94% return, which is significantly lower than BKSE's 11.75% return.
SDD
- 1D
- 3.63%
- 1M
- 2.05%
- YTD
- -23.94%
- 6M
- -22.77%
- 1Y
- -41.53%
- 3Y*
- -23.30%
- 5Y*
- -14.95%
- 10Y*
- -26.75%
BKSE
- 1D
- -2.14%
- 1M
- -1.02%
- YTD
- 11.75%
- 6M
- 10.64%
- 1Y
- 31.49%
- 3Y*
- 16.44%
- 5Y*
- 6.65%
- 10Y*
- —
SDD vs. BKSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SDD ProShares UltraShort SmallCap600 | -23.94% | -14.69% | -13.60% | -25.99% | 20.50% | -46.57% | -66.64% |
BKSE BNY Mellon US Small Cap Core Equity ETF | 11.75% | 13.09% | 9.56% | 22.37% | -18.44% | 16.18% | 55.56% |
Correlation
The correlation between SDD and BKSE is -0.97, 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 | -0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2020 | -0.96 |
The correlation between SDD and BKSE has been stable across timeframes, ranging from -0.98 to -0.96 - a consistent structural relationship.
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Return for Risk
SDD vs. BKSE — Risk / Return Rank
SDD
BKSE
SDD vs. BKSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort SmallCap600 (SDD) and BNY Mellon US Small Cap Core Equity ETF (BKSE). 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.
| SDD | BKSE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.94 | ||
| Sortino ratioReturn per unit of downside risk | -4.28 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.30 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 3.36 | -4.32 |
| Martin ratioReturn relative to average drawdown | -1.56 | 11.70 | -13.26 |
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
| SDD | BKSE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.15 | 1.78 | -2.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | 0.31 | -0.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 0.72 | -1.31 |
Drawdowns
SDD vs. BKSE - Drawdown Comparison
The maximum SDD drawdown since its inception was -99.93%, which is greater than BKSE's maximum drawdown of -29.08%. Use the drawdown chart below to compare losses from any high point for SDD and BKSE.
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Drawdown Indicators
| SDD | BKSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -29.08% | -70.85% |
Max Drawdown (1Y)Largest decline over 1 year | -43.74% | -9.40% | -34.34% |
Max Drawdown (3Y)Largest decline over 3 years | -65.26% | -26.76% | -38.50% |
Max Drawdown (5Y)Largest decline over 5 years | -67.68% | -29.08% | -38.60% |
Max Drawdown (10Y)Largest decline over 10 years | -96.21% | — | — |
Current DrawdownCurrent decline from peak | -99.93% | -2.23% | -97.70% |
Average DrawdownAverage peak-to-trough decline | -86.92% | -9.05% | -77.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.68% | 2.70% | +23.98% |
Volatility
SDD vs. BKSE - Volatility Comparison
ProShares UltraShort SmallCap600 (SDD) has a higher volatility of 9.35% compared to BNY Mellon US Small Cap Core Equity ETF (BKSE) at 4.80%. This indicates that SDD's price experiences larger fluctuations and is considered to be riskier than BKSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDD | BKSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.35% | 4.80% | +4.55% |
Volatility (6M)Calculated over the trailing 6-month period | 24.32% | 12.12% | +12.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.17% | 17.72% | +18.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.23% | 21.45% | +21.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.16% | 22.30% | +22.86% |
SDD vs. BKSE - Expense Ratio Comparison
SDD has a 0.95% expense ratio, which is higher than BKSE's 0.04% expense ratio.
Dividends
SDD vs. BKSE - Dividend Comparison
SDD's dividend yield for the trailing twelve months is around 6.11%, more than BKSE's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BKSE BNY Mellon US Small Cap Core Equity ETF | 1.18% | 1.26% | 1.55% | 1.38% | 1.50% | 1.17% | 0.82% | 0.00% | 0.00% |
SDD ProShares UltraShort SmallCap600 | 6.11% | 5.07% | 4.34% | 3.84% | 0.33% | 0.00% | 0.00% | 1.20% | 0.52% |
Frequently Asked Questions
SDD and BKSE have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDD has higher volatility (9.35%) compared to BKSE (4.80%). In terms of maximum drawdown, SDD dropped -99.93% vs BKSE's -29.08%.
On 5-year performance, BKSE leads with 6.65% vs -14.95% for SDD. On fees, BKSE is cheaper at 0.04% per year. On volatility, BKSE has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BKSE has performed better with a 6.65% return vs -14.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKSE is cheaper with a 0.04% expense ratio, compared with 0.95% for SDD.
SDD has the higher dividend yield at 6.11%, compared with 1.18% for BKSE.
SDD is categorized as Inverse Equities, while BKSE is Small Cap Growth Equities. SDD tracks S&P Small Cap 600 (-200%), while BKSE tracks Morningstar US Small Cap Index. They also come from different issuers: ProShares and BNY Mellon. Their fees differ too: 0.95% for SDD and 0.04% for BKSE.
BKSE currently has the higher Sharpe Ratio (1.78 vs -1.15), 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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