SDP vs. OOQB
SDP (ProShares UltraShort Utilities) and OOQB (Volatility Shares One+One Nasdaq-100® and Bitcoin ETF) are both exchange-traded funds - SDP is a Leveraged Equities fund tracking the Dow Jones U.S. Utilities Index (-200%), while OOQB is a Nasdaq-100 fund actively managed by Volatility Shares. SDP is passively managed, while OOQB is actively managed. Over the past year, SDP returned -12.04% vs -27.35% for OOQB. At a correlation of -0.18, they often move in opposite directions. SDP charges 0.95%/yr vs 0.75%/yr for OOQB.
Performance
SDP vs. OOQB - Performance Comparison
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Returns By Period
In the year-to-date period, SDP achieves a -5.56% return, which is significantly higher than OOQB's -18.43% return.
SDP
- 1D
- 0.71%
- 1M
- 11.99%
- YTD
- -5.56%
- 6M
- -1.63%
- 1Y
- -12.04%
- 3Y*
- -19.38%
- 5Y*
- -16.33%
- 10Y*
- -20.69%
OOQB
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -18.43%
- 6M
- -24.99%
- 1Y
- -27.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SDP vs. OOQB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SDP ProShares UltraShort Utilities | -5.56% | -13.35% |
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | -18.43% | -13.30% |
Correlation
The correlation between SDP and OOQB is -0.18, 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 | -0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | -0.18 |
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Return for Risk
SDP vs. OOQB — Risk / Return Rank
SDP
OOQB
SDP vs. OOQB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB). 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 | OOQB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.94 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.51 | +0.10 |
| Martin ratioReturn relative to average drawdown | -0.69 | -0.91 | +0.22 |
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 | OOQB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.41 | -0.53 | +0.12 |
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 | -0.41 | -0.16 |
Drawdowns
SDP vs. OOQB - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than OOQB's maximum drawdown of -53.44%. Use the drawdown chart below to compare losses from any high point for SDP and OOQB.
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Drawdown Indicators
| SDP | OOQB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -53.44% | -46.12% |
Max Drawdown (1Y)Largest decline over 1 year | -29.01% | -53.44% | +24.43% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -66.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | — | — |
Current DrawdownCurrent decline from peak | -99.49% | -43.69% | -55.80% |
Average DrawdownAverage peak-to-trough decline | -82.12% | -23.26% | -58.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.38% | 30.11% | -12.73% |
Volatility
SDP vs. OOQB - Volatility Comparison
ProShares UltraShort Utilities (SDP) has a higher volatility of 10.86% compared to Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) at 0.00%. This indicates that SDP's price experiences larger fluctuations and is considered to be riskier than OOQB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDP | OOQB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.86% | 0.00% | +10.86% |
Volatility (6M)Calculated over the trailing 6-month period | 23.05% | 39.39% | -16.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.23% | 51.57% | -22.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.37% | 58.12% | -23.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.51% | 58.12% | -20.61% |
SDP vs. OOQB - Expense Ratio Comparison
SDP has a 0.95% expense ratio, which is higher than OOQB's 0.75% expense ratio.
Dividends
SDP vs. OOQB - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 3.87%, less than OOQB's 11.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | 11.62% | 9.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SDP ProShares UltraShort Utilities | 3.87% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% |
Frequently Asked Questions
SDP and OOQB have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDP has higher volatility (10.86%) compared to OOQB (0.00%). In terms of maximum drawdown, SDP dropped -99.56% vs OOQB's -53.44%.
On 1-year performance, SDP leads with -12.04% vs -27.35% for OOQB. On fees, OOQB is cheaper at 0.75% per year. On volatility, OOQB has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SDP has performed better with a -12.04% return vs -27.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OOQB is cheaper with a 0.75% expense ratio, compared with 0.95% for SDP.
OOQB has the higher dividend yield at 11.62%, compared with 3.87% for SDP.
SDP is categorized as Leveraged Equities, while OOQB is Nasdaq-100. They also come from different issuers: ProShares and Volatility Shares. Their fees differ too: 0.95% for SDP and 0.75% for OOQB.
SDP currently has the higher Sharpe Ratio (-0.41 vs -0.53), 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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