SDP vs. FXU
SDP (ProShares UltraShort Utilities) and FXU (First Trust Utilities AlphaDEX Fund) are both exchange-traded funds - SDP is a Leveraged Equities fund tracking the Dow Jones U.S. Utilities Index (-200%), while FXU is a Utilities Equities fund tracking the StrataQuant Utilities Index. Both are passively managed. Over the past 10 years, SDP returned -20.73%/yr vs 9.10%/yr for FXU. At a correlation of -0.83, they often move in opposite directions. SDP charges 0.95%/yr vs 0.62%/yr for FXU.
Performance
SDP vs. FXU - Performance Comparison
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Returns By Period
In the year-to-date period, SDP achieves a -14.27% return, which is significantly lower than FXU's 12.14% return. Over the past 10 years, SDP has underperformed FXU with an annualized return of -20.73%, while FXU has yielded a comparatively higher 9.10% annualized return.
SDP
- 1D
- -1.07%
- 1M
- -6.11%
- 6M
- -14.82%
- YTD
- -14.27%
- 1Y
- -19.85%
- 3Y*
- -20.44%
- 5Y*
- -17.87%
- 10Y*
- -20.73%
FXU
- 1D
- 0.81%
- 1M
- 3.65%
- 6M
- 11.97%
- YTD
- 12.14%
- 1Y
- 19.99%
- 3Y*
- 18.39%
- 5Y*
- 13.07%
- 10Y*
- 9.10%
SDP vs. FXU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -14.27% | -22.59% | -30.11% | 18.95% | -12.54% | -33.14% | -36.27% | -35.57% | -9.31% | -22.03% |
FXU First Trust Utilities AlphaDEX Fund | 12.14% | 21.86% | 22.50% | -2.12% | 3.68% | 17.67% | 1.53% | 11.67% | 5.43% | 0.98% |
Correlation
The correlation between SDP and FXU is -0.92, 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 | -0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.89 |
Correlation (All Time) Calculated using the full available price history since May 10, 2007 | -0.83 |
The correlation between SDP and FXU shifts across timeframes, from -0.94 (5 years) to -0.83 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SDP vs. FXU — Risk / Return Rank
SDP
FXU
SDP vs. FXU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and First Trust Utilities AlphaDEX Fund (FXU). 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.
| SDP | FXU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.25 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 2.33 | -3.10 |
| Martin ratioReturn relative to average drawdown | -1.31 | 5.92 | -7.23 |
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Drawdowns
SDP vs. FXU - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than FXU's maximum drawdown of -49.00%. Use the drawdown chart below to compare losses from any high point for SDP and FXU.
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Drawdown Indicators
| SDP | FXU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -49.00% | -50.56% |
Max Drawdown (1Y)Largest decline over 1 year | -25.59% | -8.63% | -16.96% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -17.46% | -48.71% |
Max Drawdown (5Y)Largest decline over 5 years | -66.17% | -21.87% | -44.30% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | -34.81% | -57.62% |
Current DrawdownCurrent decline from peak | -99.53% | -2.12% | -97.41% |
Average DrawdownAverage peak-to-trough decline | -82.20% | -7.62% | -74.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.15% | 3.39% | +11.76% |
Volatility
SDP vs. FXU - Volatility Comparison
ProShares UltraShort Utilities (SDP) has a higher volatility of 8.89% compared to First Trust Utilities AlphaDEX Fund (FXU) at 4.43%. This indicates that SDP's price experiences larger fluctuations and is considered to be riskier than FXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDP | FXU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.89% | 4.43% | +4.46% |
Volatility (6M)Calculated over the trailing 6-month period | 23.71% | 10.71% | +13.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.98% | 13.58% | +16.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.44% | 16.61% | +17.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.59% | 18.37% | +19.22% |
SDP vs. FXU - Expense Ratio Comparison
SDP has a 0.95% expense ratio, which is higher than FXU's 0.62% expense ratio.
Dividends
SDP vs. FXU - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 4.33%, more than FXU's 2.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXU First Trust Utilities AlphaDEX Fund | 2.13% | 2.29% | 2.41% | 2.52% | 2.03% | 2.00% | 3.97% | 2.34% | 2.40% | 3.81% | 2.62% | 3.90% |
SDP ProShares UltraShort Utilities | 4.33% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SDP and FXU have a correlation of -0.92, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDP has higher volatility (8.89%) compared to FXU (4.43%). In terms of maximum drawdown, SDP dropped -99.56% vs FXU's -49.00%.
On 10-year performance, FXU leads with 9.10% vs -20.73% for SDP. On fees, FXU is cheaper at 0.62% per year. On volatility, FXU has been the lower-risk option at 4.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FXU has performed better with a 9.10% return vs -20.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXU is cheaper with a 0.62% expense ratio, compared with 0.95% for SDP.
SDP has the higher dividend yield at 4.33%, compared with 2.13% for FXU.
SDP is categorized as Leveraged Equities, while FXU is Utilities Equities. SDP tracks Dow Jones U.S. Utilities Index (-200%), while FXU tracks StrataQuant Utilities Index. They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.95% for SDP and 0.62% for FXU.
FXU currently has the higher Sharpe Ratio (1.48 vs -0.67), 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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