SDOW vs. DGP
SDOW (ProShares UltraPro Short Dow30) and DGP (DB Gold Double Long Exchange Traded Notes) are both exchange-traded funds - SDOW is a Leveraged Equities fund tracking the Dow Jones Industrial Average (-300%), while DGP is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%). Both are passively managed. Over the past 10 years, SDOW returned -38.66%/yr vs 17.25%/yr for DGP. At a correlation of -0.03, they often move in opposite directions. SDOW charges 0.95%/yr vs 0.75%/yr for DGP.
Performance
SDOW vs. DGP - Performance Comparison
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Returns By Period
In the year-to-date period, SDOW achieves a -20.41% return, which is significantly lower than DGP's -14.58% return. Over the past 10 years, SDOW has underperformed DGP with an annualized return of -38.66%, while DGP has yielded a comparatively higher 17.25% annualized return.
SDOW
- 1D
- 0.32%
- 1M
- -6.58%
- YTD
- -20.41%
- 6M
- -18.40%
- 1Y
- -43.24%
- 3Y*
- -33.77%
- 5Y*
- -25.99%
- 10Y*
- -38.66%
DGP
- 1D
- -3.65%
- 1M
- -17.84%
- YTD
- -14.58%
- 6M
- -21.57%
- 1Y
- 32.14%
- 3Y*
- 49.95%
- 5Y*
- 29.64%
- 10Y*
- 17.25%
SDOW vs. DGP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDOW ProShares UltraPro Short Dow30 | -20.41% | -33.94% | -25.95% | -28.78% | 4.00% | -49.00% | -66.48% | -49.54% | -0.30% | -52.26% |
DGP DB Gold Double Long Exchange Traded Notes | -14.58% | 141.40% | 53.16% | 16.97% | -5.54% | -11.29% | 45.29% | 32.27% | -7.48% | 24.20% |
Correlation
The correlation between SDOW and DGP is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.03 |
Over the past year, the inverse relationship between SDOW and DGP has strengthened: their correlation has moved from -0.03 to -0.27, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
SDOW vs. DGP — Risk / Return Rank
SDOW
DGP
SDOW vs. DGP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Dow30 (SDOW) and DB Gold Double Long Exchange Traded Notes (DGP). 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.
| SDOW | DGP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.15 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | 0.73 | -1.75 |
| Martin ratioReturn relative to average drawdown | -1.70 | 1.93 | -3.63 |
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Drawdowns
SDOW vs. DGP - Drawdown Comparison
The maximum SDOW drawdown since its inception was -99.96%, which is greater than DGP's maximum drawdown of -75.31%. Use the drawdown chart below to compare losses from any high point for SDOW and DGP.
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Drawdown Indicators
| SDOW | DGP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -75.31% | -24.65% |
Max Drawdown (1Y)Largest decline over 1 year | -42.83% | -43.98% | +1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -75.55% | -43.98% | -31.57% |
Max Drawdown (5Y)Largest decline over 5 years | -83.15% | -51.24% | -31.91% |
Max Drawdown (10Y)Largest decline over 10 years | -99.29% | -51.24% | -48.05% |
Current DrawdownCurrent decline from peak | -99.96% | -43.16% | -56.80% |
Average DrawdownAverage peak-to-trough decline | -89.59% | -41.08% | -48.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.36% | 16.71% | +10.65% |
Volatility
SDOW vs. DGP - Volatility Comparison
The current volatility for ProShares UltraPro Short Dow30 (SDOW) is 12.39%, while DB Gold Double Long Exchange Traded Notes (DGP) has a volatility of 17.11%. This indicates that SDOW experiences smaller price fluctuations and is considered to be less risky than DGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDOW | DGP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.39% | 17.11% | -4.72% |
Volatility (6M)Calculated over the trailing 6-month period | 29.43% | 48.95% | -19.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.16% | 54.67% | -17.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.43% | 39.27% | +5.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.13% | 35.31% | +16.82% |
SDOW vs. DGP - Expense Ratio Comparison
SDOW has a 0.95% expense ratio, which is higher than DGP's 0.75% expense ratio.
Dividends
SDOW vs. DGP - Dividend Comparison
SDOW's dividend yield for the trailing twelve months is around 5.85%, while DGP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DGP DB Gold Double Long Exchange Traded Notes | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SDOW ProShares UltraPro Short Dow30 | 5.85% | 5.80% | 8.30% | 5.38% | 0.36% | 0.00% | 0.52% | 2.17% | 1.23% | 0.09% |
Frequently Asked Questions
SDOW and DGP have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGP has higher volatility (17.11%) compared to SDOW (12.39%). In terms of maximum drawdown, SDOW dropped -99.96% vs DGP's -75.31%.
On 10-year performance, DGP leads with 17.25% vs -38.66% for SDOW. On fees, DGP is cheaper at 0.75% per year. On volatility, SDOW has been the lower-risk option at 12.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DGP has performed better with a 17.25% return vs -38.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGP is cheaper with a 0.75% expense ratio, compared with 0.95% for SDOW.
SDOW has the higher dividend yield at 5.85%, compared with 0.00% for DGP.
SDOW is categorized as Leveraged Equities, while DGP is Leveraged Commodities. SDOW tracks Dow Jones Industrial Average (-300%), while DGP tracks Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%). They also come from different issuers: ProShares and Deutsche Bank. Their fees differ too: 0.95% for SDOW and 0.75% for DGP.
DGP currently has the higher Sharpe Ratio (0.59 vs -1.17), 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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