SDP vs. QLD
Compare and contrast key facts about ProShares UltraShort Utilities (SDP) and ProShares Ultra QQQ (QLD).
SDP and QLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SDP is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Utilities Index (-200%). It was launched on Jan 30, 2007. QLD is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (200%). It was launched on Jun 21, 2006. Both SDP and QLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SDP vs. QLD - Performance Comparison
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SDP vs. QLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -14.15% | -22.59% | -30.11% | 18.95% | -12.54% | -33.14% | -36.27% | -35.57% | -9.31% | -22.03% |
QLD ProShares Ultra QQQ | -13.35% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Returns By Period
In the year-to-date period, SDP achieves a -14.15% return, which is significantly lower than QLD's -13.35% return. Over the past 10 years, SDP has underperformed QLD with an annualized return of -21.71%, while QLD has yielded a comparatively higher 29.40% annualized return.
SDP
- 1D
- 0.70%
- 1M
- 6.78%
- YTD
- -14.15%
- 6M
- -10.38%
- 1Y
- -27.33%
- 3Y*
- -19.65%
- 5Y*
- -18.82%
- 10Y*
- -21.71%
QLD
- 1D
- 6.72%
- 1M
- -10.26%
- YTD
- -13.35%
- 6M
- -11.03%
- 1Y
- 37.53%
- 3Y*
- 35.41%
- 5Y*
- 15.27%
- 10Y*
- 29.40%
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SDP vs. QLD - Expense Ratio Comparison
Both SDP and QLD have an expense ratio of 0.95%.
Return for Risk
SDP vs. QLD — Risk / Return Rank
SDP
QLD
SDP vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and ProShares Ultra QQQ (QLD). 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 | QLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.88 | 0.84 | -1.72 |
Sortino ratioReturn per unit of downside risk | -1.27 | 1.43 | -2.71 |
Omega ratioGain probability vs. loss probability | 0.86 | 1.20 | -0.34 |
Calmar ratioReturn relative to maximum drawdown | -0.70 | 1.49 | -2.19 |
Martin ratioReturn relative to average drawdown | -1.05 | 4.88 | -5.94 |
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 | QLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.88 | 0.84 | -1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.55 | 0.34 | -0.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.58 | 0.66 | -1.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.58 | 0.53 | -1.11 |
Correlation
The correlation between SDP and QLD is -0.35. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
SDP vs. QLD - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 4.26%, more than QLD's 0.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | 4.26% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% | 0.00% | 0.00% | 0.00% |
QLD ProShares Ultra QQQ | 0.19% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
Drawdowns
SDP vs. QLD - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for SDP and QLD.
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Drawdown Indicators
| SDP | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -83.13% | -16.43% |
Max Drawdown (1Y)Largest decline over 1 year | -41.11% | -25.13% | -15.98% |
Max Drawdown (5Y)Largest decline over 5 years | -66.97% | -63.68% | -3.29% |
Max Drawdown (10Y)Largest decline over 10 years | -92.63% | -63.68% | -28.95% |
Current DrawdownCurrent decline from peak | -99.53% | -20.10% | -79.43% |
Average DrawdownAverage peak-to-trough decline | -81.96% | -18.30% | -63.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.45% | 7.67% | +19.78% |
Volatility
SDP vs. QLD - Volatility Comparison
The current volatility for ProShares UltraShort Utilities (SDP) is 9.55%, while ProShares Ultra QQQ (QLD) has a volatility of 12.96%. This indicates that SDP experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDP | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.55% | 12.96% | -3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 20.50% | 25.55% | -5.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.29% | 44.91% | -13.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.05% | 44.77% | -10.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.37% | 44.47% | -7.10% |