SDP vs. BKGI

Last updated Jun 3, 2026

SDP (ProShares UltraShort Utilities) and BKGI (Bny Mellon Global Infrastructure Income ETF) are both exchange-traded funds - SDP is a Leveraged Equities fund tracking the Dow Jones U.S. Utilities Index (-200%), while BKGI is a Energy Equities fund actively managed by BNY Mellon. SDP is passively managed, while BKGI is actively managed. Over the past 3 years, SDP returned -19.57%/yr vs 22.31%/yr for BKGI. At a correlation of -0.65, they often move in opposite directions. SDP charges 0.95%/yr vs 0.65%/yr for BKGI.

Performance

SDP vs. BKGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Utilities (SDP) and Bny Mellon Global Infrastructure Income ETF (BKGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDP achieves a -6.23% return, which is significantly lower than BKGI's 12.69% return.

SDP

• 1D: -3.79%
• 1M: 12.87%
• YTD: -6.23%
• 6M: -1.59%
• 1Y: -13.53%
• 3Y*: -19.57%
• 5Y*: -16.36%
• 10Y*: -20.74%

BKGI

• 1D: 0.63%
• 1M: -0.23%
• YTD: 12.69%
• 6M: 12.56%
• 1Y: 21.83%
• 3Y*: 22.31%
• 5Y*: —
• 10Y*: —

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

SDP vs. BKGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SDP ProShares UltraShort Utilities	-6.23%	-22.59%	-30.11%	18.95%	-12.51%
BKGI Bny Mellon Global Infrastructure Income ETF	12.69%	37.53%	12.35%	9.72%	8.54%

Correlation

The correlation between SDP and BKGI is -0.61, 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	-0.61
Correlation (3Y) Calculated over the trailing 3-year period	-0.67
Correlation (All Time) Calculated using the full available price history since Nov 4, 2022	-0.65

The correlation between SDP and BKGI has been stable across timeframes, ranging from -0.67 to -0.61 - a consistent structural relationship.

Return for Risk

SDP vs. BKGI — Risk / Return Rank

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

SDP

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

BKGI

BKGI Risk / Return Rank: 61
BKGI Sharpe Ratio Rank: 55
BKGI Sortino Ratio Rank: 54
BKGI Omega Ratio Rank: 55
BKGI Calmar Ratio Rank: 74
BKGI Martin Ratio Rank: 67

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.

SDP vs. BKGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and Bny Mellon Global Infrastructure Income ETF (BKGI). 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.

	SDP	BKGI	Difference
Sharpe ratio Return per unit of total volatility	-0.46	1.89	-2.36
Sortino ratio Return per unit of downside risk	-0.52	2.64	-3.15
Omega ratio Gain probability vs. loss probability	0.94	1.34	-0.40
Calmar ratio Return relative to maximum drawdown	-0.47	3.78	-4.25
Martin ratio Return relative to average drawdown	-0.79	12.47	-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.

SDP vs. BKGI - Sharpe Ratio Comparison

The current SDP Sharpe Ratio is -0.46, which is lower than the BKGI Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of SDP and BKGI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SDP	BKGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.46	1.89	-2.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.48	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.56	1.62	-2.18

Drawdowns

SDP vs. BKGI - Drawdown Comparison

The maximum SDP drawdown since its inception was -99.56%, which is greater than BKGI's maximum drawdown of -14.79%. Use the drawdown chart below to compare losses from any high point for SDP and BKGI.

Drawdown Indicators

	SDP	BKGI	Difference
Max Drawdown Largest peak-to-trough decline	-99.56%	-14.79%	-84.77%
Max Drawdown (1Y) Largest decline over 1 year	-29.01%	-6.16%	-22.85%
Max Drawdown (3Y) Largest decline over 3 years	-66.17%	-14.16%	-52.01%
Max Drawdown (5Y) Largest decline over 5 years	-66.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-92.43%	—	—
Current Drawdown Current decline from peak	-99.49%	-2.72%	-96.77%
Average Drawdown Average peak-to-trough decline	-82.12%	-2.56%	-79.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.35%	1.87%	+15.48%

Volatility

SDP vs. BKGI - Volatility Comparison

ProShares UltraShort Utilities (SDP) has a higher volatility of 10.90% compared to Bny Mellon Global Infrastructure Income ETF (BKGI) at 4.23%. This indicates that SDP's price experiences larger fluctuations and is considered to be riskier than BKGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDP	BKGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.90%	4.23%	+6.67%
Volatility (6M) Calculated over the trailing 6-month period	23.55%	9.08%	+14.47%
Volatility (1Y) Calculated over the trailing 1-year period	29.22%	11.63%	+17.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.37%	14.08%	+20.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.51%	14.08%	+23.43%

SDP vs. BKGI - Expense Ratio Comparison

SDP has a 0.95% expense ratio, which is higher than BKGI's 0.65% expense ratio.

Dividends

SDP vs. BKGI - Dividend Comparison

SDP's dividend yield for the trailing twelve months is around 3.90%, more than BKGI's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BKGI Bny Mellon Global Infrastructure Income ETF	2.68%	2.65%	4.55%	4.55%	0.53%	0.00%	0.00%	0.00%	0.00%
SDP ProShares UltraShort Utilities	3.90%	3.99%	4.66%	3.04%	0.56%	0.00%	0.13%	0.87%	0.05%

Frequently Asked Questions

Can I hold both SDP and BKGI in my portfolio?

SDP and BKGI have a correlation of -0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDP or BKGI?

SDP has higher volatility (10.90%) compared to BKGI (4.23%). In terms of maximum drawdown, SDP dropped -99.56% vs BKGI's -14.79%.

Which ETF is better, SDP or BKGI?

On 3-year performance, BKGI leads with 22.31% vs -19.57% for SDP. On fees, BKGI is cheaper at 0.65% per year. On volatility, BKGI has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDP or BKGI?

Over the 3-year period, BKGI has performed better with a 22.31% return vs -19.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDP or BKGI?

BKGI is cheaper with a 0.65% expense ratio, compared with 0.95% for SDP.

Which ETF pays a higher dividend yield, SDP or BKGI?

SDP has the higher dividend yield at 3.90%, compared with 2.68% for BKGI.

What is the main difference between SDP and BKGI?

SDP is categorized as Leveraged Equities, while BKGI is Energy Equities. They also come from different issuers: ProShares and BNY Mellon. Their fees differ too: 0.95% for SDP and 0.65% for BKGI.

Which has better risk-adjusted returns?

BKGI currently has the higher Sharpe Ratio (1.89 vs -0.46), 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.