SDP vs. ECLN
SDP (ProShares UltraShort Utilities) and ECLN (First Trust EIP Carbon Impact ETF) are both exchange-traded funds - SDP is a Leveraged Equities fund tracking the Dow Jones U.S. Utilities Index (-200%), while ECLN is a Utilities Equities fund actively managed by First Trust. SDP is passively managed, while ECLN is actively managed. Over the past 5 years, SDP returned -16.36%/yr vs 11.81%/yr for ECLN. At a correlation of -0.86, they often move in opposite directions. SDP charges 0.95%/yr vs 0.97%/yr for ECLN.
Performance
SDP vs. ECLN - Performance Comparison
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Returns By Period
In the year-to-date period, SDP achieves a -6.23% return, which is significantly lower than ECLN's 12.23% 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%
ECLN
- 1D
- 1.51%
- 1M
- -3.19%
- YTD
- 12.23%
- 6M
- 10.28%
- 1Y
- 19.48%
- 3Y*
- 17.17%
- 5Y*
- 11.81%
- 10Y*
- —
SDP vs. ECLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -6.23% | -22.59% | -30.11% | 18.95% | -12.54% | -33.14% | -36.27% | -10.91% |
ECLN First Trust EIP Carbon Impact ETF | 12.23% | 16.78% | 22.60% | -3.36% | 5.28% | 12.26% | 8.98% | 5.66% |
Correlation
The correlation between SDP and ECLN is -0.86, 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 | -0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.87 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2019 | -0.86 |
The correlation between SDP and ECLN has been stable across timeframes, ranging from -0.89 to -0.86 - a consistent structural relationship.
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Return for Risk
SDP vs. ECLN — Risk / Return Rank
SDP
ECLN
SDP vs. ECLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and First Trust EIP Carbon Impact ETF (ECLN). 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 | ECLN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.46 | 1.86 | -2.33 |
Sortino ratioReturn per unit of downside risk | -0.52 | 2.72 | -3.24 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.32 | -0.38 |
Calmar ratioReturn relative to maximum drawdown | -0.47 | 4.03 | -4.50 |
Martin ratioReturn relative to average drawdown | -0.79 | 10.95 | -11.75 |
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
| SDP | ECLN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.46 | 1.86 | -2.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | 0.83 | -1.31 |
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 | 0.67 | -1.24 |
Drawdowns
SDP vs. ECLN - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than ECLN's maximum drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for SDP and ECLN.
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Drawdown Indicators
| SDP | ECLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -32.28% | -67.28% |
Max Drawdown (1Y)Largest decline over 1 year | -29.01% | -5.02% | -23.99% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -14.68% | -51.49% |
Max Drawdown (5Y)Largest decline over 5 years | -66.61% | -19.88% | -46.73% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | — | — |
Current DrawdownCurrent decline from peak | -99.49% | -3.58% | -95.91% |
Average DrawdownAverage peak-to-trough decline | -82.12% | -5.00% | -77.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.35% | 1.85% | +15.50% |
Volatility
SDP vs. ECLN - Volatility Comparison
ProShares UltraShort Utilities (SDP) has a higher volatility of 10.90% compared to First Trust EIP Carbon Impact ETF (ECLN) at 3.85%. This indicates that SDP's price experiences larger fluctuations and is considered to be riskier than ECLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDP | ECLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.90% | 3.85% | +7.05% |
Volatility (6M)Calculated over the trailing 6-month period | 23.55% | 8.30% | +15.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.22% | 10.52% | +18.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.37% | 14.22% | +20.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.51% | 17.41% | +20.10% |
SDP vs. ECLN - Expense Ratio Comparison
SDP has a 0.95% expense ratio, which is lower than ECLN's 0.97% expense ratio.
Dividends
SDP vs. ECLN - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 3.90%, more than ECLN's 1.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ECLN First Trust EIP Carbon Impact ETF | 1.83% | 1.97% | 2.52% | 2.54% | 1.72% | 1.66% | 1.68% | 0.71% | 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
SDP and ECLN have a correlation of -0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDP has higher volatility (10.90%) compared to ECLN (3.85%). In terms of maximum drawdown, SDP dropped -99.56% vs ECLN's -32.28%.
On 5-year performance, ECLN leads with 11.81% vs -16.36% for SDP. On fees, SDP is cheaper at 0.95% per year. On volatility, ECLN has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ECLN has performed better with a 11.81% return vs -16.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SDP is cheaper with a 0.95% expense ratio, compared with 0.97% for ECLN.
SDP has the higher dividend yield at 3.90%, compared with 1.83% for ECLN.
SDP is categorized as Leveraged Equities, while ECLN is Utilities Equities. They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.95% for SDP and 0.97% for ECLN.
ECLN currently has the higher Sharpe Ratio (1.86 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.
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