SDP vs. XLU
SDP (ProShares UltraShort Utilities) and XLU (State Street Utilities Select Sector SPDR ETF) are both exchange-traded funds - SDP is a Leveraged Equities fund tracking the Dow Jones U.S. Utilities Index (-200%), while XLU is a Utilities Equities fund tracking the Utilities Select Sector Index. Both are passively managed. Over the past 10 years, SDP returned -20.92%/yr vs 9.35%/yr for XLU. At a correlation of -0.93, they often move in opposite directions. SDP charges 0.95%/yr vs 0.08%/yr for XLU.
Performance
SDP vs. XLU - Performance Comparison
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Returns By Period
In the year-to-date period, SDP achieves a -12.29% return, which is significantly lower than XLU's 6.99% return. Over the past 10 years, SDP has underperformed XLU with an annualized return of -20.92%, while XLU has yielded a comparatively higher 9.35% annualized return.
SDP
- 1D
- -1.74%
- 1M
- -0.17%
- YTD
- -12.29%
- 6M
- -12.43%
- 1Y
- -20.05%
- 3Y*
- -21.12%
- 5Y*
- -18.29%
- 10Y*
- -20.92%
XLU
- 1D
- 0.78%
- 1M
- 0.02%
- YTD
- 6.99%
- 6M
- 7.17%
- 1Y
- 14.05%
- 3Y*
- 14.90%
- 5Y*
- 10.60%
- 10Y*
- 9.35%
SDP vs. XLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -12.29% | -22.59% | -30.11% | 18.95% | -12.54% | -33.14% | -36.27% | -35.57% | -9.31% | -22.03% |
XLU State Street Utilities Select Sector SPDR ETF | 6.99% | 16.03% | 23.31% | -7.18% | 1.44% | 17.70% | 0.51% | 25.93% | 3.94% | 12.05% |
Correlation
The correlation between SDP and XLU is -0.99, 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 | -0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.97 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2007 | -0.93 |
The correlation between SDP and XLU has been stable across timeframes, ranging from -0.99 to -0.93 - a consistent structural relationship.
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Return for Risk
SDP vs. XLU — Risk / Return Rank
SDP
XLU
SDP vs. XLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) and State Street Utilities Select Sector SPDR ETF (XLU). 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 | XLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.17 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 1.54 | -2.25 |
| Martin ratioReturn relative to average drawdown | -1.18 | 3.26 | -4.44 |
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Drawdowns
SDP vs. XLU - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than XLU's maximum drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for SDP and XLU.
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Drawdown Indicators
| SDP | XLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -51.98% | -47.58% |
Max Drawdown (1Y)Largest decline over 1 year | -28.09% | -9.18% | -18.91% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -17.26% | -48.91% |
Max Drawdown (5Y)Largest decline over 5 years | -66.55% | -25.26% | -41.29% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | -36.07% | -56.36% |
Current DrawdownCurrent decline from peak | -99.52% | -4.30% | -95.22% |
Average DrawdownAverage peak-to-trough decline | -82.15% | -10.21% | -71.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.96% | 4.32% | +12.64% |
Volatility
SDP vs. XLU - Volatility Comparison
ProShares UltraShort Utilities (SDP) has a higher volatility of 10.60% compared to State Street Utilities Select Sector SPDR ETF (XLU) at 5.21%. This indicates that SDP's price experiences larger fluctuations and is considered to be riskier than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDP | XLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.60% | 5.21% | +5.39% |
Volatility (6M)Calculated over the trailing 6-month period | 23.45% | 11.70% | +11.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.51% | 14.69% | +14.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.35% | 17.30% | +17.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.56% | 19.29% | +18.27% |
SDP vs. XLU - Expense Ratio Comparison
SDP has a 0.95% expense ratio, which is higher than XLU's 0.08% expense ratio.
Dividends
SDP vs. XLU - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 4.17%, more than XLU's 2.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | 4.17% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% | 0.00% | 0.00% | 0.00% |
XLU State Street Utilities Select Sector SPDR ETF | 2.65% | 2.71% | 2.96% | 3.39% | 2.92% | 2.79% | 3.14% | 2.95% | 3.33% | 3.33% | 3.41% | 3.67% |
Frequently Asked Questions
SDP and XLU have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDP has higher volatility (10.60%) compared to XLU (5.21%). In terms of maximum drawdown, SDP dropped -99.56% vs XLU's -51.98%.
On 10-year performance, XLU leads with 9.35% vs -20.92% for SDP. On fees, XLU is cheaper at 0.08% per year. On volatility, XLU has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLU has performed better with a 9.35% return vs -20.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLU is cheaper with a 0.08% expense ratio, compared with 0.95% for SDP.
SDP has the higher dividend yield at 4.17%, compared with 2.65% for XLU.
SDP is categorized as Leveraged Equities, while XLU is Utilities Equities. SDP tracks Dow Jones U.S. Utilities Index (-200%), while XLU tracks Utilities Select Sector Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for SDP and 0.08% for XLU.
XLU currently has the higher Sharpe Ratio (0.96 vs -0.68), 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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