SDP vs. WTIU

Last updated Jun 25, 2026

SDP (ProShares UltraShort Utilities) and WTIU (MicroSectors Energy 3X Leveraged ETN) are both Leveraged Equities funds - SDP tracks the Dow Jones U.S. Utilities Index (-200%) while WTIU tracks the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). Both are passively managed. Over the past 3 years, SDP returned -21.84%/yr vs -1.02%/yr for WTIU. At a correlation of -0.18, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

SDP vs. WTIU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Utilities (SDP) and MicroSectors Energy 3X Leveraged ETN (WTIU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDP achieves a -14.66% return, which is significantly lower than WTIU's 40.74% return.

SDP

• 1D: -2.70%
• 1M: -2.87%
• YTD: -14.66%
• 6M: -13.95%
• 1Y: -21.58%
• 3Y*: -21.84%
• 5Y*: -18.36%
• 10Y*: -21.14%

WTIU

• 1D: -5.06%
• 1M: -26.93%
• YTD: 40.74%
• 6M: 43.64%
• 1Y: 40.51%
• 3Y*: -1.02%
• 5Y*: —
• 10Y*: —

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

SDP vs. WTIU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SDP ProShares UltraShort Utilities	-14.66%	-22.59%	-30.11%	10.37%
WTIU MicroSectors Energy 3X Leveraged ETN	40.74%	-17.13%	-29.63%	-28.45%

Correlation

The correlation between SDP and WTIU is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023	-0.18

The correlation between SDP and WTIU shifts across timeframes, from -0.18 (all time) to -0.00 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SDP vs. WTIU — Risk / Return Rank

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

SDP

SDP Risk / Return Rank: 3
SDP Sharpe Ratio Rank: 3
SDP Sortino Ratio Rank: 3
SDP Omega Ratio Rank: 4
SDP Calmar Ratio Rank: 3
SDP Martin Ratio Rank: 3

WTIU

WTIU Risk / Return Rank: 21
WTIU Sharpe Ratio Rank: 19
WTIU Sortino Ratio Rank: 23
WTIU Omega Ratio Rank: 22
WTIU Calmar Ratio Rank: 21
WTIU Martin Ratio Rank: 21

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. WTIU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and MicroSectors Energy 3X Leveraged ETN (WTIU). 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	WTIU	Difference
Sharpe ratio: Return per unit of total volatility	-0.73	0.60	-1.33
Sortino ratio: Return per unit of downside risk	-0.98	1.18	-2.16
Omega ratio: Gain probability vs. loss probability	0.90	1.14	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.77	0.86	-1.64
Martin ratio: Return relative to average drawdown	-1.27	2.25	-3.52

SDP vs. WTIU - Sharpe Ratio Comparison

The current SDP Sharpe Ratio is -0.73, which is lower than the WTIU Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of SDP and WTIU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SDP vs. WTIU - Drawdown Comparison

The maximum SDP drawdown since its inception was -99.56%, which is greater than WTIU's maximum drawdown of -75.73%. Use the drawdown chart below to compare losses from any high point for SDP and WTIU.

Drawdown Indicators

	SDP	WTIU	Difference
Max Drawdown Largest peak-to-trough decline	-99.56%	-75.73%	-23.83%
Max Drawdown (1Y) Largest decline over 1 year	-28.09%	-47.07%	+18.98%
Max Drawdown (3Y) Largest decline over 3 years	-66.17%	-75.73%	+9.56%
Max Drawdown (5Y) Largest decline over 5 years	-66.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-92.43%	—	—
Current Drawdown Current decline from peak	-99.53%	-50.11%	-49.42%
Average Drawdown Average peak-to-trough decline	-82.15%	-39.20%	-42.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.02%	18.02%	-1.00%

Volatility

SDP vs. WTIU - Volatility Comparison

The current volatility for ProShares UltraShort Utilities (SDP) is 10.80%, while MicroSectors Energy 3X Leveraged ETN (WTIU) has a volatility of 23.71%. This indicates that SDP experiences smaller price fluctuations and is considered to be less risky than WTIU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDP	WTIU	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.80%	23.71%	-12.91%
Volatility (6M) Calculated over the trailing 6-month period	23.44%	56.28%	-32.84%
Volatility (1Y) Calculated over the trailing 1-year period	29.53%	68.46%	-38.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.37%	70.80%	-36.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.56%	70.80%	-33.24%

SDP vs. WTIU - Expense Ratio Comparison

Both SDP and WTIU have an expense ratio of 0.95%.

Dividends

SDP vs. WTIU - Dividend Comparison

SDP's dividend yield for the trailing twelve months is around 4.28%, while WTIU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SDP ProShares UltraShort Utilities	4.28%	3.99%	4.66%	3.04%	0.56%	0.00%	0.13%	0.87%	0.05%
WTIU MicroSectors Energy 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SDP and WTIU in my portfolio?

SDP and WTIU have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDP or WTIU?

WTIU has higher volatility (23.71%) compared to SDP (10.80%). In terms of maximum drawdown, SDP dropped -99.56% vs WTIU's -75.73%.

Which ETF is better, SDP or WTIU?

On 3-year performance, WTIU leads with -1.02% vs -21.84% for SDP. Both ETFs have the same 0.95% expense ratio. On volatility, SDP has been the lower-risk option at 10.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SDP or WTIU?

Over the 3-year period, WTIU has performed better with a -1.02% return vs -21.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SDP or WTIU?

SDP and WTIU have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, SDP or WTIU?

SDP has the higher dividend yield at 4.28%, compared with 0.00% for WTIU.

What is the main difference between SDP and WTIU?

SDP tracks Dow Jones U.S. Utilities Index (-200%), while WTIU tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). They also come from different issuers: ProShares and REX.

Which has better risk-adjusted returns?

WTIU currently has the higher Sharpe Ratio (0.60 vs -0.73), 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.