SKF vs. UYG

Last updated Jun 4, 2026

SKF (ProShares UltraShort Financials) and UYG (ProShares Ultra Financials) are both Leveraged Equities funds from ProShares - SKF tracks the DJ Global United States (All) / Financials -IND (-200%) while UYG tracks the Dow Jones U.S. Financials Index (200%). Both are passively managed. Over the past 10 years, SKF returned -25.91%/yr vs 15.85%/yr for UYG. At a correlation of -0.99, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

SKF vs. UYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Financials (SKF) and ProShares Ultra Financials (UYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKF achieves a 15.68% return, which is significantly higher than UYG's -16.05% return. Over the past 10 years, SKF has underperformed UYG with an annualized return of -25.91%, while UYG has yielded a comparatively higher 15.85% annualized return.

SKF

• 1D: 2.34%
• 1M: 3.32%
• YTD: 15.68%
• 6M: 10.42%
• 1Y: 2.16%
• 3Y*: -24.34%
• 5Y*: -15.11%
• 10Y*: -25.91%

UYG

• 1D: -2.38%
• 1M: -3.38%
• YTD: -16.05%
• 6M: -11.80%
• 1Y: -5.74%
• 3Y*: 26.28%
• 5Y*: 8.13%
• 10Y*: 15.85%

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

SKF vs. UYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKF ProShares UltraShort Financials	15.68%	-23.99%	-36.29%	-21.78%	17.63%	-47.66%	-42.40%	-42.97%	16.42%	-31.70%
UYG ProShares Ultra Financials	-16.05%	19.77%	55.71%	22.14%	-32.11%	76.26%	-20.32%	66.15%	-22.61%	39.28%

Correlation

The correlation between SKF and UYG is -1.00, 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	-1.00
Correlation (3Y) Calculated over the trailing 3-year period	-0.99
Correlation (5Y) Calculated over the trailing 5-year period	-1.00
Correlation (10Y) Calculated over the trailing 10-year period	-0.99
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007	-0.99

The correlation between SKF and UYG has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.

SKF vs. UYG - Sectors Allocation Comparison

Sectors	SKF	UYG
Financial Services	48.0%	98.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	0.2%
Real Estate	-	-
Technology	-	1.7%
Utilities	-	-

Return for Risk

SKF vs. UYG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SKF

SKF Risk / Return Rank: 10
SKF Sharpe Ratio Rank: 10
SKF Sortino Ratio Rank: 11
SKF Omega Ratio Rank: 10
SKF Calmar Ratio Rank: 10
SKF Martin Ratio Rank: 10

UYG

UYG Risk / Return Rank: 7
UYG Sharpe Ratio Rank: 7
UYG Sortino Ratio Rank: 7
UYG Omega Ratio Rank: 7
UYG Calmar Ratio Rank: 7
UYG Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SKF vs. UYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Financials (SKF) and ProShares Ultra Financials (UYG). 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.

	SKF	UYG	Difference
Sharpe ratio: Return per unit of total volatility	0.08	-0.20	+0.27
Sortino ratio: Return per unit of downside risk	0.33	-0.08	+0.41
Omega ratio: Gain probability vs. loss probability	1.04	0.99	+0.05
Calmar ratio: Return relative to maximum drawdown	0.10	-0.20	+0.30
Martin ratio: Return relative to average drawdown	0.19	-0.48	+0.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKF vs. UYG - Sharpe Ratio Comparison

The current SKF Sharpe Ratio is 0.08, which is higher than the UYG Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of SKF and UYG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SKF	UYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.08	-0.20	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.42	0.23	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.64	0.39	-1.02
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	-0.01	-0.50

Drawdowns

SKF vs. UYG - Drawdown Comparison

The maximum SKF drawdown since its inception was -99.96%, roughly equal to the maximum UYG drawdown of -97.90%. Use the drawdown chart below to compare losses from any high point for SKF and UYG.

Drawdown Indicators

	SKF	UYG	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-97.90%	-2.06%
Max Drawdown (1Y) Largest decline over 1 year	-20.76%	-28.91%	+8.15%
Max Drawdown (3Y) Largest decline over 3 years	-68.09%	-30.35%	-37.74%
Max Drawdown (5Y) Largest decline over 5 years	-72.40%	-47.77%	-24.63%
Max Drawdown (10Y) Largest decline over 10 years	-96.51%	-69.98%	-26.53%
Current Drawdown Current decline from peak	-99.95%	-20.72%	-79.23%
Average Drawdown Average peak-to-trough decline	-89.26%	-63.37%	-25.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.13%	11.88%	-0.75%

Volatility

SKF vs. UYG - Volatility Comparison

ProShares UltraShort Financials (SKF) and ProShares Ultra Financials (UYG) have volatilities of 6.29% and 6.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKF	UYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.29%	6.51%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	21.80%	21.88%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	28.85%	28.84%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.03%	36.14%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.90%	41.04%	-0.14%

SKF vs. UYG - Expense Ratio Comparison

Both SKF and UYG have an expense ratio of 0.95%.

Dividends

SKF vs. UYG - Dividend Comparison

SKF's dividend yield for the trailing twelve months is around 4.09%, less than UYG's 13.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SKF ProShares UltraShort Financials	4.09%	5.61%	7.94%	3.93%	0.03%	0.00%	0.11%	1.29%	0.06%	0.00%	0.00%	0.00%
UYG ProShares Ultra Financials	13.92%	11.72%	0.51%	0.79%	0.77%	9.39%	0.66%	0.90%	1.28%	0.56%	0.76%	0.72%

Frequently Asked Questions

Can I hold both SKF and UYG in my portfolio?

SKF and UYG have a correlation of -1.00, 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 UYG?

UYG has higher volatility (6.51%) compared to SKF (6.29%). In terms of maximum drawdown, SKF dropped -99.96% vs UYG's -97.90%.

Which ETF is better, SKF or UYG?

On 10-year performance, UYG leads with 15.85% vs -25.91% for SKF. Both ETFs have the same 0.95% expense ratio. On volatility, SKF has been the lower-risk option at 6.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKF or UYG?

Over the 10-year period, UYG has performed better with a 15.85% return vs -25.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKF or UYG?

SKF and UYG have the same expense ratio: 0.95% per year.

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

UYG has the higher dividend yield at 13.92%, compared with 4.09% for SKF.

What is the main difference between SKF and UYG?

SKF tracks DJ Global United States (All) / Financials -IND (-200%), while UYG tracks Dow Jones U.S. Financials Index (200%).

Which has better risk-adjusted returns?

SKF currently has the higher Sharpe Ratio (0.08 vs -0.20), 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.