SIJ vs. USD
SIJ (ProShares UltraShort Industrials) and USD (ProShares Ultra Semiconductors) are both Leveraged Equities funds from ProShares - SIJ tracks the DJ Global United States (All) / Industrials -IND (-200%) while USD tracks the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, SIJ returned -27.76%/yr vs 61.24%/yr for USD. At a correlation of -0.62, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
SIJ vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, SIJ achieves a -22.92% return, which is significantly lower than USD's 103.32% return. Over the past 10 years, SIJ has underperformed USD with an annualized return of -27.76%, while USD has yielded a comparatively higher 61.24% annualized return.
SIJ
- 1D
- -2.08%
- 1M
- -4.03%
- YTD
- -22.92%
- 6M
- -23.42%
- 1Y
- -32.54%
- 3Y*
- -30.36%
- 5Y*
- -18.85%
- 10Y*
- -27.76%
USD
- 1D
- -4.99%
- 1M
- 31.62%
- YTD
- 103.32%
- 6M
- 97.79%
- 1Y
- 250.81%
- 3Y*
- 125.78%
- 5Y*
- 67.80%
- 10Y*
- 61.24%
SIJ vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -22.92% | -29.33% | -21.63% | -24.18% | 18.15% | -34.31% | -54.09% | -45.12% | 20.55% | -36.32% |
USD ProShares Ultra Semiconductors | 103.32% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between SIJ and USD is -0.39, 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 | -0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007 | -0.62 |
Over the past year, the inverse relationship between SIJ and USD has weakened: their correlation has moved from -0.62 to -0.39, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SIJ vs. USD — Risk / Return Rank
SIJ
USD
SIJ vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) and ProShares Ultra Semiconductors (USD). 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.
| SIJ | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.16 | ||
| Sortino ratioReturn per unit of downside risk | -5.06 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.48 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 7.94 | -8.86 |
| Martin ratioReturn relative to average drawdown | -1.56 | 22.96 | -24.52 |
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
| SIJ | USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.03 | 4.12 | -5.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.53 | 0.89 | -1.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.70 | 0.89 | -1.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | 0.49 | -1.11 |
Drawdowns
SIJ vs. USD - Drawdown Comparison
The maximum SIJ drawdown since its inception was -99.93%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for SIJ and USD.
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Drawdown Indicators
| SIJ | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -88.63% | -11.30% |
Max Drawdown (1Y)Largest decline over 1 year | -35.40% | -31.80% | -3.60% |
Max Drawdown (3Y)Largest decline over 3 years | -69.84% | -64.46% | -5.38% |
Max Drawdown (5Y)Largest decline over 5 years | -76.49% | -77.85% | +1.36% |
Max Drawdown (10Y)Largest decline over 10 years | -96.54% | -77.85% | -18.69% |
Current DrawdownCurrent decline from peak | -99.93% | -6.07% | -93.86% |
Average DrawdownAverage peak-to-trough decline | -86.74% | -32.35% | -54.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.92% | 10.98% | +9.94% |
Volatility
SIJ vs. USD - Volatility Comparison
The current volatility for ProShares UltraShort Industrials (SIJ) is 10.27%, while ProShares Ultra Semiconductors (USD) has a volatility of 21.29%. This indicates that SIJ experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIJ | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.27% | 21.29% | -11.02% |
Volatility (6M)Calculated over the trailing 6-month period | 26.40% | 46.74% | -20.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.55% | 61.28% | -29.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.85% | 76.56% | -40.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.62% | 69.24% | -29.62% |
SIJ vs. USD - Expense Ratio Comparison
Both SIJ and USD have an expense ratio of 0.95%.
Dividends
SIJ vs. USD - Dividend Comparison
SIJ's dividend yield for the trailing twelve months is around 5.87%, more than USD's 0.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | 5.87% | 5.38% | 5.99% | 4.90% | 0.00% | 0.00% | 0.00% | 1.49% | 0.39% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.23% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
SIJ and USD have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (21.29%) compared to SIJ (10.27%). In terms of maximum drawdown, SIJ dropped -99.93% vs USD's -88.63%.
On 10-year performance, USD leads with 61.24% vs -27.76% for SIJ. Both ETFs have the same 0.95% expense ratio. On volatility, SIJ has been the lower-risk option at 10.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USD has performed better with a 61.24% return vs -27.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIJ and USD have the same expense ratio: 0.95% per year.
SIJ has the higher dividend yield at 5.87%, compared with 0.23% for USD.
SIJ tracks DJ Global United States (All) / Industrials -IND (-200%), while USD tracks Dow Jones U.S. Semiconductors Index (200%).
USD currently has the higher Sharpe Ratio (4.12 vs -1.03), 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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