SKF vs. FLCV

Last updated Aug 4, 2026

SKF (ProShares UltraShort Financials) and FLCV (Federated Hermes MDT Large Cap Value ETF) are both exchange-traded funds - SKF is a Leveraged Equities fund tracking the DJ Global United States (All) / Financials -IND (-200%), while FLCV is a Large Cap Value Equities fund actively managed by Federated. SKF is passively managed, while FLCV is actively managed. Over the past year, SKF returned -18.86% vs 27.33% for FLCV. Their -0.78 correlation means they have often moved in opposite directions in the past. SKF charges 0.95%/yr vs 0.32%/yr for FLCV.

Performance

SKF vs. FLCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Financials (SKF) and Federated Hermes MDT Large Cap Value ETF (FLCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKF achieves a -8.93% return, which is significantly lower than FLCV's 19.30% return.

SKF

• 1D: -1.38%
• 1M: -5.58%
• 6M: -11.53%
• YTD: -8.93%
• 1Y: -18.86%
• 3Y*: -27.34%
• 5Y*: -19.36%
• 10Y*: -27.10%
• ALL TIME*: -28.15%

FLCV

• 1D: 0.36%
• 1M: 3.61%
• 6M: 14.47%
• YTD: 19.30%
• 1Y: 27.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLCV Federated Hermes MDT Large Cap Value ETF	$2.45M	$1.82M	$954.90K
SKF ProShares UltraShort Financials	$327.82K	$374.40K	$433.73K

SKF vs. FLCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SKF ProShares UltraShort Financials	-8.93%	-23.99%	-17.46%
FLCV Federated Hermes MDT Large Cap Value ETF	19.30%	15.64%	5.96%

Correlation

The correlation between SKF and FLCV is -0.70, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.70
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024	-0.78

The correlation between SKF and FLCV has been stable across timeframes, ranging from -0.78 to -0.70 - a consistent structural relationship.

SKF vs. FLCV - Sectors Allocation Comparison

Sectors	SKF	FLCV
Financial Services	66.9%	18.2%
Basic Materials	-	2.8%
Communication Services	-	6.8%
Consumer Cyclical	-	8.8%
Consumer Defensive	-	5.1%
Energy	-	5.3%
Healthcare	-	12.2%
Industrials	-	13.2%
Real Estate	-	2.8%
Technology	-	20.7%
Utilities	-	4.1%

Return for Risk

SKF vs. FLCV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SKF

SKF Risk / Return Rank: 3
SKF Sharpe Ratio Rank: 4
SKF Sortino Ratio Rank: 4
SKF Omega Ratio Rank: 4
SKF Calmar Ratio Rank: 4
SKF Martin Ratio Rank: 1

FLCV

FLCV Risk / Return Rank: 91
FLCV Sharpe Ratio Rank: 90
FLCV Sortino Ratio Rank: 91
FLCV Omega Ratio Rank: 89
FLCV Calmar Ratio Rank: 93
FLCV Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SKF vs. FLCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Financials (SKF) and Federated Hermes MDT Large Cap Value ETF (FLCV). 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.

	SKF	FLCV	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	2.40	-3.05
Sortino ratio: Return per unit of downside risk	-0.82	3.43	-4.26
Omega ratio: Gain probability vs. loss probability	0.91	1.43	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.62	4.82	-5.44
Martin ratio: Return relative to average drawdown	-1.46	18.82	-20.29

SKF vs. FLCV - Sharpe Ratio Comparison

The current SKF Sharpe Ratio is -0.65, which is lower than the FLCV Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of SKF and FLCV, 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

SKF vs. FLCV - Drawdown Comparison

The maximum SKF drawdown since its inception was -99.96%, which is greater than FLCV's maximum drawdown of -15.93%. Use the drawdown chart below to compare losses from any high point for SKF and FLCV.

Drawdown Indicators

	SKF	FLCV	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-15.93%	-84.03%
Max Drawdown (1Y) Largest decline over 1 year	-30.59%	-5.70%	-24.89%
Max Drawdown (3Y) Largest decline over 3 years	-69.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-73.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-95.90%	—	—
Current Drawdown Current decline from peak	-99.96%	0.00%	-99.96%
Average Drawdown Average peak-to-trough decline	-89.33%	-1.91%	-87.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.93%	1.46%	+11.47%

Volatility

SKF vs. FLCV - Volatility Comparison

ProShares UltraShort Financials (SKF) has a higher volatility of 7.55% compared to Federated Hermes MDT Large Cap Value ETF (FLCV) at 2.36%. This indicates that SKF's price experiences larger fluctuations and is considered to be riskier than FLCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKF	FLCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.55%	2.36%	+5.19%
Volatility (6M) Calculated over the trailing 6-month period	22.16%	8.43%	+13.73%
Volatility (1Y) Calculated over the trailing 1-year period	29.32%	11.44%	+17.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.92%	14.67%	+21.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.78%	14.67%	+26.11%

SKF vs. FLCV - Expense Ratio Comparison

SKF has a 0.95% expense ratio, which is higher than FLCV's 0.32% expense ratio.

Dividends

SKF vs. FLCV - Dividend Comparison

SKF's dividend yield for the trailing twelve months is around 4.70%, more than FLCV's 0.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLCV Federated Hermes MDT Large Cap Value ETF	0.69%	0.83%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SKF ProShares UltraShort Financials	4.70%	5.61%	7.94%	3.93%	0.03%	0.00%	0.11%	1.29%	0.06%

Frequently Asked Questions

Can I hold both SKF and FLCV in my portfolio?

SKF and FLCV have a correlation of -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKF or FLCV?

SKF has higher volatility (7.55%) compared to FLCV (2.36%). In terms of maximum drawdown, SKF dropped -99.96% vs FLCV's -15.93%.

Which ETF is better, SKF or FLCV?

On 1-year performance, FLCV leads with 27.33% vs -18.86% for SKF. On fees, FLCV is cheaper at 0.32% per year. On volatility, FLCV has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKF or FLCV?

Over the 1-year period, FLCV has performed better with a 27.33% return vs -18.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKF or FLCV?

FLCV is cheaper with a 0.32% expense ratio, compared with 0.95% for SKF.

Which ETF pays a higher dividend yield, SKF or FLCV?

SKF has the higher dividend yield at 4.70%, compared with 0.69% for FLCV.

What is the main difference between SKF and FLCV?

SKF is categorized as Leveraged Equities, while FLCV is Large Cap Value Equities. They also come from different issuers: ProShares and Federated. Their fees differ too: 0.95% for SKF and 0.32% for FLCV.

Which has better risk-adjusted returns?

FLCV currently has the higher Sharpe Ratio (2.40 vs -0.65), 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.