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 -27.81%/yr vs 58.67%/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 -28.55% return, which is significantly lower than USD's 85.14% return. Over the past 10 years, SIJ has underperformed USD with an annualized return of -27.81%, while USD has yielded a comparatively higher 58.67% annualized return.
SIJ
- 1D
- -1.30%
- 1M
- -6.93%
- 6M
- -21.99%
- YTD
- -28.55%
- 1Y
- -32.13%
- 3Y*
- -28.25%
- 5Y*
- -19.80%
- 10Y*
- -27.81%
USD
- 1D
- 3.09%
- 1M
- -0.93%
- 6M
- 76.15%
- YTD
- 85.14%
- 1Y
- 147.75%
- 3Y*
- 110.61%
- 5Y*
- 62.46%
- 10Y*
- 58.67%
SIJ vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -28.55% | -29.33% | -21.63% | -24.18% | 18.15% | -34.31% | -54.09% | -45.12% | 20.55% | -36.32% |
USD ProShares Ultra Semiconductors | 85.14% | 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 -0.43, 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 | -0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.45 |
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 1, 2007 | -0.62 |
The correlation between SIJ and USD shifts across timeframes, from -0.62 (all time) to -0.43 (1 year), reflecting how their relationship changes across market environments.
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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.
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.
| SIJ | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.08 | ||
| Sortino ratioReturn per unit of downside risk | -3.68 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.32 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 4.70 | -5.55 |
| Martin ratioReturn relative to average drawdown | -1.64 | 12.39 | -14.03 |
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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 | -37.53% | -31.80% | -5.73% |
Max Drawdown (3Y)Largest decline over 3 years | -72.61% | -64.46% | -8.15% |
Max Drawdown (5Y)Largest decline over 5 years | -78.65% | -77.85% | -0.80% |
Max Drawdown (10Y)Largest decline over 10 years | -96.42% | -77.85% | -18.57% |
Current DrawdownCurrent decline from peak | -99.93% | -14.47% | -85.46% |
Average DrawdownAverage peak-to-trough decline | -86.79% | -32.26% | -54.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.35% | 12.05% | +7.30% |
Volatility
SIJ vs. USD - Volatility Comparison
The current volatility for ProShares UltraShort Industrials (SIJ) is 13.89%, while ProShares Ultra Semiconductors (USD) has a volatility of 32.27%. 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 | 13.89% | 32.27% | -18.38% |
Volatility (6M)Calculated over the trailing 6-month period | 28.40% | 57.13% | -28.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.95% | 69.99% | -36.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.22% | 78.11% | -41.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.65% | 69.98% | -30.33% |
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 4.93%, more than USD's 0.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | 4.93% | 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 | 0.31% | 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 -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (32.27%) compared to SIJ (13.89%). In terms of maximum drawdown, SIJ dropped -99.93% vs USD's -88.63%.
On 10-year performance, USD leads with 58.67% vs -27.81% for SIJ. Both ETFs have the same 0.95% expense ratio. On volatility, SIJ has been the lower-risk option at 13.89%. 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 58.67% return vs -27.81%. 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 4.93%, compared with 0.31% 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 (2.14 vs -0.94), 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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