SDP vs. SPUU
SDP (ProShares UltraShort Utilities) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds - SDP tracks the Dow Jones U.S. Utilities Index (-200%) while SPUU tracks the S&P 500 Index (200% Daily). Both are passively managed. Over the past 10 years, SDP returned -20.62%/yr vs 23.85%/yr for SPUU. Their -0.34 correlation means they have often moved in opposite directions in the past. SDP charges 0.95%/yr vs 0.60%/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 -9.06% return, which is significantly lower than SPUU's 20.19% return. Over the past 10 years, SDP has underperformed SPUU with an annualized return of -20.62%, while SPUU has yielded a comparatively higher 23.85% annualized return.
SDP
- 1D
- 0.11%
- 1M
- 6.41%
- 6M
- -9.83%
- YTD
- -9.06%
- 1Y
- -8.08%
- 3Y*
- -21.20%
- 5Y*
- -15.97%
- 10Y*
- -20.62%
- ALL TIME*
- -21.26%
SPUU
- 1D
- 2.97%
- 1M
- 3.22%
- 6M
- 15.98%
- YTD
- 20.19%
- 1Y
- 42.24%
- 3Y*
- 34.65%
- 5Y*
- 18.35%
- 10Y*
- 23.85%
- ALL TIME*
- 21.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $191.10K | $103.59K | $83.62K | |
| $4.50M | $4.98M | $4.51M |
SDP vs. SPUU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -9.06% | -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 ETF | 20.19% | 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 -0.12, 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. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.35 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014 | -0.34 |
Over the past year, the inverse relationship between SDP and SPUU has weakened: their correlation has moved from -0.34 to -0.12, meaning they move in opposite directions less often than they have historically.
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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 ETF (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.
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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.92 | ||
| Sortino ratioReturn per unit of downside risk | -2.38 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.28 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 2.33 | -2.65 |
| Martin ratioReturn relative to average drawdown | -0.52 | 9.41 | -9.93 |
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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 | -25.44% | -18.19% | -7.25% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -35.18% | -30.99% |
Max Drawdown (5Y)Largest decline over 5 years | -66.17% | -46.59% | -19.58% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | -59.35% | -33.08% |
Current DrawdownCurrent decline from peak | -99.50% | -0.97% | -98.53% |
Average DrawdownAverage peak-to-trough decline | -82.25% | -9.43% | -72.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.48% | 4.50% | +10.98% |
Volatility
SDP vs. SPUU - Volatility Comparison
ProShares UltraShort Utilities (SDP) has a higher volatility of 8.39% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 7.66%. 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 | 8.39% | 7.66% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 24.16% | 20.55% | +3.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.20% | 25.83% | +4.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.44% | 33.73% | +0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.64% | 35.81% | +1.83% |
SDP vs. SPUU - Expense Ratio Comparison
SDP has a 0.95% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
SDP vs. SPUU - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 4.08%, more than SPUU's 1.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | 4.08% | 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 ETF | 1.31% | 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 -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDP has higher volatility (8.39%) compared to SPUU (7.66%). In terms of maximum drawdown, SDP dropped -99.56% vs SPUU's -59.35%.
On 10-year performance, SPUU leads with 23.85% vs -20.62% for SDP. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 7.66%. 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 23.85% return vs -20.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 0.95% for SDP.
SDP has the higher dividend yield at 4.08%, compared with 1.31% for SPUU.
SDP tracks Dow Jones U.S. Utilities Index (-200%), while SPUU tracks S&P 500 Index (200% Daily). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SDP and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.65 vs -0.27), 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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