SDP vs. TSMG

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares UltraShort Utilities (SDP) and Leverage Shares 2X Long TSM Daily ETF (TSMG).

SDP and TSMG 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. TSMG is an actively managed fund by Leverage Shares. It was launched on Jan 14, 2025.

Performance

SDP vs. TSMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Utilities (SDP) and Leverage Shares 2X Long TSM Daily ETF (TSMG). The values are adjusted to include any dividend payments, if applicable.

SDP vs. TSMG - Yearly Performance Comparison

	2026 (YTD)	2025
SDP ProShares UltraShort Utilities	-14.15%	-22.59%
TSMG Leverage Shares 2X Long TSM Daily ETF	16.19%	76.34%

Returns By Period

In the year-to-date period, SDP achieves a -14.15% return, which is significantly lower than TSMG's 16.19% 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%

TSMG

• 1D: 13.90%
• 1M: -20.55%
• YTD: 16.19%
• 6M: 30.36%
• 1Y: 227.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SDP vs. TSMG - Expense Ratio Comparison

SDP has a 0.95% expense ratio, which is higher than TSMG's 0.75% expense ratio.

SDP

ProShares UltraShort Utilities

TSMG

Leverage Shares 2X Long TSM Daily ETF

Return for Risk

SDP vs. TSMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SDP

SDP Risk / Return Rank: 2
SDP Sharpe Ratio Rank: 1
SDP Sortino Ratio Rank: 1
SDP Omega Ratio Rank: 1
SDP Calmar Ratio Rank: 2
SDP Martin Ratio Rank: 3

TSMG

TSMG Risk / Return Rank: 96
TSMG Sharpe Ratio Rank: 97
TSMG Sortino Ratio Rank: 95
TSMG Omega Ratio Rank: 91
TSMG Calmar Ratio Rank: 98
TSMG Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SDP vs. TSMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and Leverage Shares 2X Long TSM Daily ETF (TSMG). 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	TSMG	Difference
Sharpe ratio Return per unit of total volatility	-0.88	2.98	-3.86
Sortino ratio Return per unit of downside risk	-1.27	3.08	-4.35
Omega ratio Gain probability vs. loss probability	0.86	1.39	-0.53
Calmar ratio Return relative to maximum drawdown	-0.70	6.44	-7.14
Martin ratio Return relative to average drawdown	-1.05	20.11	-21.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDP vs. TSMG - Sharpe Ratio Comparison

The current SDP Sharpe Ratio is -0.88, which is lower than the TSMG Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of SDP and TSMG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SDP	TSMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.88	2.98	-3.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.55	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.58	1.00	-1.58

Correlation

The correlation between SDP and TSMG is -0.20. 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. TSMG - Dividend Comparison

SDP's dividend yield for the trailing twelve months is around 4.26%, less than TSMG's 9.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SDP ProShares UltraShort Utilities	4.26%	3.99%	4.66%	3.04%	0.56%	0.00%	0.13%	0.87%	0.05%
TSMG Leverage Shares 2X Long TSM Daily ETF	9.88%	11.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SDP vs. TSMG - Drawdown Comparison

The maximum SDP drawdown since its inception was -99.56%, which is greater than TSMG's maximum drawdown of -63.67%. Use the drawdown chart below to compare losses from any high point for SDP and TSMG.

Drawdown Indicators

	SDP	TSMG	Difference
Max Drawdown Largest peak-to-trough decline	-99.56%	-63.67%	-35.89%
Max Drawdown (1Y) Largest decline over 1 year	-41.11%	-35.29%	-5.82%
Max Drawdown (5Y) Largest decline over 5 years	-66.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-92.63%	—	—
Current Drawdown Current decline from peak	-99.53%	-26.30%	-73.23%
Average Drawdown Average peak-to-trough decline	-81.96%	-18.22%	-63.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.45%	11.30%	+16.15%

Volatility

SDP vs. TSMG - Volatility Comparison

The current volatility for ProShares UltraShort Utilities (SDP) is 9.55%, while Leverage Shares 2X Long TSM Daily ETF (TSMG) has a volatility of 29.05%. This indicates that SDP experiences smaller price fluctuations and is considered to be less risky than TSMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDP	TSMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.55%	29.05%	-19.50%
Volatility (6M) Calculated over the trailing 6-month period	20.50%	54.76%	-34.26%
Volatility (1Y) Calculated over the trailing 1-year period	31.29%	77.02%	-45.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.05%	81.35%	-47.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.37%	81.35%	-43.98%