SDOW vs. SPXS
Compare and contrast key facts about ProShares UltraPro Short Dow30 (SDOW) and Direxion Daily S&P 500 Bear 3X Shares (SPXS).
SDOW and SPXS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SDOW is a passively managed fund by ProShares that tracks the performance of the Dow Jones Industrial Average (-300%). It was launched on Feb 11, 2010. SPXS is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (-300%). It was launched on Nov 5, 2008. Both SDOW and SPXS 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: SDOW or SPXS.
Key characteristics
| SDOW | SPXS | |
|---|---|---|
| YTD Return | -34.08% | -46.19% |
| 1Y Return | -47.53% | -54.34% |
| 3Y Return (Ann) | -22.59% | -28.65% |
| 5Y Return (Ann) | -39.98% | -46.57% |
| 10Y Return (Ann) | -37.31% | -40.00% |
| Sharpe Ratio | -1.51 | -1.57 |
| Sortino Ratio | -2.51 | -2.83 |
| Omega Ratio | 0.72 | 0.69 |
| Calmar Ratio | -0.50 | -0.57 |
| Martin Ratio | -1.72 | -1.61 |
| Ulcer Index | 28.94% | 35.44% |
| Daily Std Dev | 32.94% | 36.40% |
| Max Drawdown | -99.94% | -100.00% |
| Current Drawdown | -99.94% | -100.00% |
Correlation
The correlation between SDOW and SPXS is 0.92, 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
SDOW vs. SPXS - Performance Comparison
In the year-to-date period, SDOW achieves a -34.08% return, which is significantly higher than SPXS's -46.19% return. Over the past 10 years, SDOW has outperformed SPXS with an annualized return of -37.31%, while SPXS has yielded a comparatively lower -40.00% annualized return. 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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SDOW vs. SPXS - Expense Ratio Comparison
SDOW has a 0.95% expense ratio, which is lower than SPXS's 1.08% expense ratio.
Risk-Adjusted Performance
SDOW vs. SPXS - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Dow30 (SDOW) and Direxion Daily S&P 500 Bear 3X Shares (SPXS). 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
SDOW vs. SPXS - Dividend Comparison
SDOW's dividend yield for the trailing twelve months is around 7.17%, less than SPXS's 7.42% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
SDOW ProShares UltraPro Short Dow30 | 7.17% | 5.38% | 0.36% | 0.00% | 0.52% | 2.17% | 1.23% | 0.09% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 7.42% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% | 0.00% |
Drawdowns
SDOW vs. SPXS - Drawdown Comparison
The maximum SDOW drawdown since its inception was -99.94%, roughly equal to the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SDOW and SPXS. For additional features, visit the drawdowns tool.
Volatility
SDOW vs. SPXS - Volatility Comparison
ProShares UltraPro Short Dow30 (SDOW) has a higher volatility of 14.00% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 11.52%. This indicates that SDOW's price experiences larger fluctuations and is considered to be riskier than SPXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.