SDP vs. IQRA
SDP (ProShares UltraShort Utilities) and IQRA (IQ CBRE Real Assets ETF) are both exchange-traded funds - SDP is a Leveraged Equities fund tracking the Dow Jones U.S. Utilities Index (-200%), while IQRA is a REIT fund actively managed by IndexIQ. SDP is passively managed, while IQRA is actively managed. Over the past 3 years, SDP returned -19.35%/yr vs 10.61%/yr for IQRA. Their -0.70 correlation means they have often moved in opposite directions in the past. SDP charges 0.95%/yr vs 0.65%/yr for IQRA.
Performance
SDP vs. IQRA - Performance Comparison
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Returns By Period
In the year-to-date period, SDP achieves a -9.16% return, which is significantly lower than IQRA's 10.58% return.
SDP
- 1D
- 1.06%
- 1M
- 6.29%
- 6M
- -7.08%
- YTD
- -9.16%
- 1Y
- -8.19%
- 3Y*
- -19.35%
- 5Y*
- -16.38%
- 10Y*
- -20.32%
- ALL TIME*
- -21.28%
IQRA
- 1D
- -0.39%
- 1M
- 0.61%
- 6M
- 7.07%
- YTD
- 10.58%
- 1Y
- 15.50%
- 3Y*
- 10.61%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.55K | $1.67K | $1.07K | |
| $172.54K | $93.38K | $80.16K |
SDP vs. IQRA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -9.16% | -22.59% | -30.11% | 14.74% |
IQRA IQ CBRE Real Assets ETF | 10.58% | 12.42% | 5.58% | 2.80% |
Correlation
The correlation between SDP and IQRA is -0.65, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.65 |
Correlation (3Y) Balances recent behavior with more history. | -0.70 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | -0.70 |
The correlation between SDP and IQRA has been stable across timeframes, ranging from -0.70 to -0.65 - a consistent structural relationship.
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Return for Risk
SDP vs. IQRA — Risk / Return Rank
SDP
IQRA
SDP vs. IQRA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and IQ CBRE Real Assets ETF (IQRA). 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 | IQRA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.26 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 1.98 | -2.32 |
| Martin ratioReturn relative to average drawdown | -0.57 | 6.42 | -6.99 |
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Drawdowns
SDP vs. IQRA - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than IQRA's maximum drawdown of -15.70%. Use the drawdown chart below to compare losses from any high point for SDP and IQRA.
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Drawdown Indicators
| SDP | IQRA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -15.70% | -83.86% |
Max Drawdown (1Y)Largest decline over 1 year | -25.44% | -8.01% | -17.43% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -12.59% | -53.58% |
Max Drawdown (5Y)Largest decline over 5 years | -66.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | — | — |
Current DrawdownCurrent decline from peak | -99.50% | -1.88% | -97.62% |
Average DrawdownAverage peak-to-trough decline | -82.25% | -3.09% | -79.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.45% | 2.46% | +12.99% |
Volatility
SDP vs. IQRA - Volatility Comparison
ProShares UltraShort Utilities (SDP) has a higher volatility of 9.55% compared to IQ CBRE Real Assets ETF (IQRA) at 2.83%. This indicates that SDP's price experiences larger fluctuations and is considered to be riskier than IQRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDP | IQRA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.55% | 2.83% | +6.72% |
Volatility (6M)Calculated over the trailing 6-month period | 24.16% | 8.93% | +15.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.16% | 10.86% | +19.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.44% | 12.77% | +21.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.63% | 12.77% | +24.86% |
SDP vs. IQRA - Expense Ratio Comparison
SDP has a 0.95% expense ratio, which is higher than IQRA's 0.65% expense ratio.
Dividends
SDP vs. IQRA - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 4.09%, more than IQRA's 2.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IQRA IQ CBRE Real Assets ETF | 2.64% | 2.83% | 3.53% | 2.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SDP ProShares UltraShort Utilities | 4.09% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% |
Frequently Asked Questions
SDP and IQRA have a correlation of -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDP has higher volatility (9.55%) compared to IQRA (2.83%). In terms of maximum drawdown, SDP dropped -99.56% vs IQRA's -15.70%.
On 3-year performance, IQRA leads with 10.61% vs -19.35% for SDP. On fees, IQRA is cheaper at 0.65% per year. On volatility, IQRA has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IQRA has performed better with a 10.61% return vs -19.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IQRA is cheaper with a 0.65% expense ratio, compared with 0.95% for SDP.
SDP has the higher dividend yield at 4.09%, compared with 2.64% for IQRA.
SDP is categorized as Leveraged Equities, while IQRA is REIT. They also come from different issuers: ProShares and IndexIQ. Their fees differ too: 0.95% for SDP and 0.65% for IQRA.
IQRA currently has the higher Sharpe Ratio (1.46 vs -0.29), 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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