SDP vs. SPUU
SDP (ProShares UltraShort Utilities) and SPUU (Direxion Daily S&P 500 Bull 2x Shares) are both Leveraged Equities funds - SDP tracks the Dow Jones U.S. Utilities Index (-200%) while SPUU tracks the S&P 500 Index (200%). Both are passively managed. Over the past 10 years, SDP returned -20.69%/yr vs 24.77%/yr for SPUU. At a correlation of -0.35, they often move in opposite directions. SDP charges 0.95%/yr vs 0.64%/yr for SPUU.
Performance
SDP vs. SPUU - Performance Comparison
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Returns By Period
In the year-to-date period, SDP achieves a -5.56% return, which is significantly lower than SPUU's 19.82% return. Over the past 10 years, SDP has underperformed SPUU with an annualized return of -20.69%, while SPUU has yielded a comparatively higher 24.77% annualized 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%
SPUU
- 1D
- -1.27%
- 1M
- 10.01%
- YTD
- 19.82%
- 6M
- 19.11%
- 1Y
- 53.61%
- 3Y*
- 38.21%
- 5Y*
- 20.19%
- 10Y*
- 24.77%
SDP vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -5.56% | -22.59% | -30.11% | 18.95% | -12.54% | -33.14% | -36.27% | -35.57% | -9.31% | -22.03% |
SPUU Direxion Daily S&P 500 Bull 2x Shares | 19.82% | 26.55% | 44.25% | 47.28% | -38.72% | 61.27% | 21.85% | 66.84% | -14.59% | 44.33% |
Correlation
The correlation between SDP and SPUU is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.35 |
Correlation (All Time) Calculated using the full available price history since Jun 9, 2014 | -0.35 |
The correlation between SDP and SPUU shifts across timeframes, from -0.37 (5 years) to -0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SDP vs. SPUU — Risk / Return Rank
SDP
SPUU
SDP vs. SPUU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and Direxion Daily S&P 500 Bull 2x Shares (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.38 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 2.96 | -3.38 |
| Martin ratioReturn relative to average drawdown | -0.69 | 13.06 | -13.75 |
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 | SPUU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.41 | 2.26 | -2.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | 0.61 | -1.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.55 | 0.69 | -1.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.56 | 0.63 | -1.20 |
Drawdowns
SDP vs. SPUU - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for SDP and SPUU.
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Drawdown Indicators
| SDP | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -59.35% | -40.21% |
Max Drawdown (1Y)Largest decline over 1 year | -29.01% | -18.19% | -10.82% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -35.18% | -30.99% |
Max Drawdown (5Y)Largest decline over 5 years | -66.61% | -46.59% | -20.02% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | -59.35% | -33.08% |
Current DrawdownCurrent decline from peak | -99.49% | -1.27% | -98.22% |
Average DrawdownAverage peak-to-trough decline | -82.12% | -9.51% | -72.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.38% | 4.12% | +13.26% |
Volatility
SDP vs. SPUU - Volatility Comparison
ProShares UltraShort Utilities (SDP) has a higher volatility of 10.86% compared to Direxion Daily S&P 500 Bull 2x Shares (SPUU) at 5.71%. This indicates that SDP's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDP | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.86% | 5.71% | +5.15% |
Volatility (6M)Calculated over the trailing 6-month period | 23.05% | 18.09% | +4.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.23% | 23.90% | +5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.37% | 33.46% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.51% | 35.77% | +1.74% |
SDP vs. SPUU - Expense Ratio Comparison
SDP has a 0.95% expense ratio, which is higher than SPUU's 0.64% expense ratio.
Dividends
SDP vs. SPUU - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 3.87%, more than SPUU's 1.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | 3.87% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% | 0.00% | 0.00% | 0.00% |
SPUU Direxion Daily S&P 500 Bull 2x Shares | 1.34% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
SDP and SPUU have a correlation of -0.21, 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 SPUU (5.71%). In terms of maximum drawdown, SDP dropped -99.56% vs SPUU's -59.35%.
On 10-year performance, SPUU leads with 24.77% vs -20.69% for SDP. On fees, SPUU is cheaper at 0.64% per year. On volatility, SPUU has been the lower-risk option at 5.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPUU has performed better with a 24.77% return vs -20.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.64% expense ratio, compared with 0.95% for SDP.
SDP has the higher dividend yield at 3.87%, compared with 1.34% for SPUU.
SDP tracks Dow Jones U.S. Utilities Index (-200%), while SPUU tracks S&P 500 Index (200%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SDP and 0.64% for SPUU.
SPUU currently has the higher Sharpe Ratio (2.26 vs -0.41), 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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