SDS vs. VOO
Compare and contrast key facts about ProShares UltraShort S&P500 (SDS) and Vanguard S&P 500 ETF (VOO).
SDS and VOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SDS is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (-200%). It was launched on Jul 11, 2006. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both SDS and VOO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SDS vs. VOO - Performance Comparison
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SDS vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDS ProShares UltraShort S&P500 | 10.48% | -26.79% | -29.45% | -31.53% | 30.69% | -43.02% | -49.91% | -41.17% | 6.04% | -32.02% |
VOO Vanguard S&P 500 ETF | -4.42% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Returns By Period
In the year-to-date period, SDS achieves a 10.48% return, which is significantly higher than VOO's -4.42% return. Over the past 10 years, SDS has underperformed VOO with an annualized return of -25.89%, while VOO has yielded a comparatively higher 14.05% annualized return.
SDS
- 1D
- -5.73%
- 1M
- 10.80%
- YTD
- 10.48%
- 6M
- 6.56%
- 1Y
- -26.71%
- 3Y*
- -23.57%
- 5Y*
- -19.27%
- 10Y*
- -25.89%
VOO
- 1D
- 2.86%
- 1M
- -5.01%
- YTD
- -4.42%
- 6M
- -1.84%
- 1Y
- 17.67%
- 3Y*
- 18.27%
- 5Y*
- 11.75%
- 10Y*
- 14.05%
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SDS vs. VOO - Expense Ratio Comparison
SDS has a 0.91% expense ratio, which is higher than VOO's 0.03% expense ratio.
Return for Risk
SDS vs. VOO — Risk / Return Rank
SDS
VOO
SDS vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort S&P500 (SDS) and Vanguard S&P 500 ETF (VOO). 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.
| SDS | VOO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.74 | 0.98 | -1.72 |
Sortino ratioReturn per unit of downside risk | -0.90 | 1.50 | -2.40 |
Omega ratioGain probability vs. loss probability | 0.87 | 1.23 | -0.36 |
Calmar ratioReturn relative to maximum drawdown | -0.57 | 1.53 | -2.10 |
Martin ratioReturn relative to average drawdown | -0.68 | 7.29 | -7.97 |
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
| SDS | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.74 | 0.98 | -1.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.58 | 0.70 | -1.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.73 | 0.78 | -1.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | 0.83 | -1.47 |
Correlation
The correlation between SDS and VOO is -1.00. 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
SDS vs. VOO - Dividend Comparison
SDS's dividend yield for the trailing twelve months is around 4.35%, more than VOO's 1.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDS ProShares UltraShort S&P500 | 4.35% | 5.88% | 7.89% | 5.77% | 0.35% | 0.00% | 0.92% | 1.84% | 1.28% | 0.09% | 0.00% | 0.00% |
VOO Vanguard S&P 500 ETF | 1.19% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Drawdowns
SDS vs. VOO - Drawdown Comparison
The maximum SDS drawdown since its inception was -99.82%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SDS and VOO.
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Drawdown Indicators
| SDS | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.82% | -33.99% | -65.83% |
Max Drawdown (1Y)Largest decline over 1 year | -48.71% | -11.98% | -36.73% |
Max Drawdown (5Y)Largest decline over 5 years | -71.16% | -24.52% | -46.64% |
Max Drawdown (10Y)Largest decline over 10 years | -95.85% | -33.99% | -61.86% |
Current DrawdownCurrent decline from peak | -99.80% | -6.29% | -93.51% |
Average DrawdownAverage peak-to-trough decline | -82.58% | -3.72% | -78.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.73% | 2.52% | +38.21% |
Volatility
SDS vs. VOO - Volatility Comparison
ProShares UltraShort S&P500 (SDS) has a higher volatility of 10.69% compared to Vanguard S&P 500 ETF (VOO) at 5.29%. This indicates that SDS's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDS | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 5.29% | +5.40% |
Volatility (6M)Calculated over the trailing 6-month period | 18.87% | 9.44% | +9.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.42% | 18.10% | +18.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.67% | 16.82% | +16.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.79% | 17.99% | +17.80% |