SKRE vs. DOG

Last updated Jul 14, 2026

SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) and DOG (ProShares Short Dow30) are both Inverse Equities funds - SKRE tracks the S&P Regional Banks Select Industry while DOG tracks the DJ Industrial Average (-100%). Both are passively managed. Over the past year, SKRE returned -40.68% vs -12.16% for DOG. A 0.62 correlation means they provide meaningful diversification when combined. SKRE charges 0.75%/yr vs 0.95%/yr for DOG.

Performance

SKRE vs. DOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) and ProShares Short Dow30 (DOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKRE achieves a -31.48% return, which is significantly lower than DOG's -6.96% return.

SKRE

• 1D: 0.15%
• 1M: -6.10%
• 6M: -27.31%
• YTD: -31.48%
• 1Y: -40.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DOG

• 1D: 0.28%
• 1M: -2.15%
• 6M: -4.11%
• YTD: -6.96%
• 1Y: -12.16%
• 3Y*: -8.78%
• 5Y*: -5.73%
• 10Y*: -11.05%

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

SKRE vs. DOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-31.48%	-31.29%	-44.47%
DOG ProShares Short Dow30	-6.96%	-8.40%	-6.31%

Correlation

The correlation between SKRE and DOG is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024	0.62

The correlation between SKRE and DOG has been stable across timeframes, ranging from 0.60 to 0.62 - a consistent structural relationship.

Return for Risk

SKRE vs. DOG — Risk / Return Rank

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

SKRE

SKRE Risk / Return Rank: 2
SKRE Sharpe Ratio Rank: 2
SKRE Sortino Ratio Rank: 3
SKRE Omega Ratio Rank: 3
SKRE Calmar Ratio Rank: 2
SKRE Martin Ratio Rank: 1

DOG

DOG Risk / Return Rank: 2
DOG Sharpe Ratio Rank: 2
DOG Sortino Ratio Rank: 2
DOG Omega Ratio Rank: 2
DOG Calmar Ratio Rank: 2
DOG Martin Ratio Rank: 1

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.

SKRE vs. DOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) and ProShares Short Dow30 (DOG). 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.

	SKRE	DOG	Difference
Sharpe ratio: Return per unit of total volatility	-0.88	-0.99	+0.11
Sortino ratio: Return per unit of downside risk	-1.25	-1.33	+0.08
Omega ratio: Gain probability vs. loss probability	0.86	0.85	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.83	-0.81	-0.02
Martin ratio: Return relative to average drawdown	-1.44	-1.52	+0.09

SKRE vs. DOG - Sharpe Ratio Comparison

The current SKRE Sharpe Ratio is -0.88, which is comparable to the DOG Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of SKRE and DOG, 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

SKRE vs. DOG - Drawdown Comparison

The maximum SKRE drawdown since its inception was -78.32%, smaller than the maximum DOG drawdown of -92.90%. Use the drawdown chart below to compare losses from any high point for SKRE and DOG.

Drawdown Indicators

	SKRE	DOG	Difference
Max Drawdown Largest peak-to-trough decline	-78.32%	-92.90%	+14.58%
Max Drawdown (1Y) Largest decline over 1 year	-49.07%	-15.02%	-34.05%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.86%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-70.07%	—
Current Drawdown Current decline from peak	-77.77%	-92.82%	+15.05%
Average Drawdown Average peak-to-trough decline	-48.39%	-66.51%	+18.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.32%	7.99%	+20.33%

Volatility

SKRE vs. DOG - Volatility Comparison

Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) has a higher volatility of 11.56% compared to ProShares Short Dow30 (DOG) at 3.11%. This indicates that SKRE's price experiences larger fluctuations and is considered to be riskier than DOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKRE	DOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.56%	3.11%	+8.45%
Volatility (6M) Calculated over the trailing 6-month period	32.34%	9.78%	+22.56%
Volatility (1Y) Calculated over the trailing 1-year period	46.52%	12.36%	+34.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.15%	14.83%	+40.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.15%	17.47%	+37.68%

SKRE vs. DOG - Expense Ratio Comparison

SKRE has a 0.75% expense ratio, which is lower than DOG's 0.95% expense ratio.

Dividends

SKRE vs. DOG - Dividend Comparison

SKRE's dividend yield for the trailing twelve months is around 0.37%, less than DOG's 3.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DOG ProShares Short Dow30	3.39%	3.65%	5.72%	4.54%	0.41%	0.00%	0.14%	1.54%	0.86%	0.04%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.37%	0.26%	3.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SKRE and DOG in my portfolio?

SKRE and DOG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKRE or DOG?

SKRE has higher volatility (11.56%) compared to DOG (3.11%). In terms of maximum drawdown, SKRE dropped -78.32% vs DOG's -92.90%.

Which ETF is better, SKRE or DOG?

On 1-year performance, DOG leads with -12.16% vs -40.68% for SKRE. On fees, SKRE is cheaper at 0.75% per year. On volatility, DOG has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKRE or DOG?

Over the 1-year period, DOG has performed better with a -12.16% return vs -40.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKRE or DOG?

SKRE is cheaper with a 0.75% expense ratio, compared with 0.95% for DOG.

Which ETF pays a higher dividend yield, SKRE or DOG?

DOG has the higher dividend yield at 3.39%, compared with 0.37% for SKRE.

What is the main difference between SKRE and DOG?

SKRE tracks S&P Regional Banks Select Industry, while DOG tracks DJ Industrial Average (-100%). They also come from different issuers: Tuttle and ProShares. Their fees differ too: 0.75% for SKRE and 0.95% for DOG.

Which has better risk-adjusted returns?

SKRE currently has the higher Sharpe Ratio (-0.88 vs -0.99), 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.