SKYU vs. HDV

Last updated Jun 6, 2026

SKYU (ProShares Ultra Nasdaq Cloud Computing ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - SKYU is a Leveraged Equities fund tracking the ISE Cloud Computing Index (200%), while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 5 years, SKYU returned 0.04%/yr vs 10.52%/yr for HDV. At a 0.23 correlation, their price movements are largely independent. SKYU charges 0.95%/yr vs 0.08%/yr for HDV.

Performance

SKYU vs. HDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and iShares Core High Dividend ETF (HDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKYU achieves a 8.80% return, which is significantly lower than HDV's 13.73% return.

SKYU

• 1D: -9.87%
• 1M: 15.67%
• YTD: 8.80%
• 6M: 4.86%
• 1Y: 24.53%
• 3Y*: 32.82%
• 5Y*: 0.04%
• 10Y*: —

HDV

• 1D: 0.22%
• 1M: 1.36%
• YTD: 13.73%
• 6M: 14.28%
• 1Y: 22.66%
• 3Y*: 15.37%
• 5Y*: 10.52%
• 10Y*: 9.27%

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

SKYU vs. HDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SKYU ProShares Ultra Nasdaq Cloud Computing ETF	8.80%	2.76%	65.79%	105.76%	-75.95%	7.15%
HDV iShares Core High Dividend ETF	13.73%	11.90%	14.16%	1.72%	7.05%	17.08%

Correlation

The correlation between SKYU and HDV is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021	0.23

The correlation between SKYU and HDV shifts across timeframes, from -0.15 (1 year) to 0.24 (5 years), reflecting how their relationship changes across market environments.

SKYU vs. HDV - Sectors Allocation Comparison

Sectors	SKYU	HDV
Technology	51.5%	8.2%
Communication Services	4.7%	0.1%
Industrials	2.5%	1.4%
Consumer Cyclical	2.4%	6.1%
Healthcare	0.3%	16.5%
Basic Materials	-	1.2%
Consumer Defensive	-	24.1%
Energy	-	22.3%
Financial Services	-	11.1%
Real Estate	-	-
Utilities	-	9.2%

Return for Risk

SKYU vs. HDV — Risk / Return Rank

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

SKYU

SKYU Risk / Return Rank: 17
SKYU Sharpe Ratio Rank: 16
SKYU Sortino Ratio Rank: 20
SKYU Omega Ratio Rank: 20
SKYU Calmar Ratio Rank: 15
SKYU Martin Ratio Rank: 14

HDV

HDV Risk / Return Rank: 75
HDV Sharpe Ratio Rank: 74
HDV Sortino Ratio Rank: 79
HDV Omega Ratio Rank: 69
HDV Calmar Ratio Rank: 84
HDV Martin Ratio Rank: 67

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.

SKYU vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and iShares Core High Dividend ETF (HDV). 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.

	SKYU	HDV	Difference
Sharpe ratio: Return per unit of total volatility	0.43	2.35	-1.91
Sortino ratio: Return per unit of downside risk	0.99	3.45	-2.46
Omega ratio: Gain probability vs. loss probability	1.12	1.40	-0.28
Calmar ratio: Return relative to maximum drawdown	0.49	4.40	-3.90
Martin ratio: Return relative to average drawdown	1.03	12.22	-11.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKYU vs. HDV - Sharpe Ratio Comparison

The current SKYU Sharpe Ratio is 0.43, which is lower than the HDV Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of SKYU and HDV, 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

	SKYU	HDV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	2.35	-1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.82	-0.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.73	-0.73

Drawdowns

SKYU vs. HDV - Drawdown Comparison

The maximum SKYU drawdown since its inception was -83.01%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for SKYU and HDV.

Drawdown Indicators

	SKYU	HDV	Difference
Max Drawdown Largest peak-to-trough decline	-83.01%	-37.04%	-45.97%
Max Drawdown (1Y) Largest decline over 1 year	-50.23%	-5.18%	-45.05%
Max Drawdown (3Y) Largest decline over 3 years	-55.71%	-10.49%	-45.22%
Max Drawdown (5Y) Largest decline over 5 years	-83.01%	-15.42%	-67.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.04%	—
Current Drawdown Current decline from peak	-29.94%	-1.65%	-28.29%
Average Drawdown Average peak-to-trough decline	-49.14%	-3.09%	-46.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.91%	1.86%	+22.05%

Volatility

SKYU vs. HDV - Volatility Comparison

ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) has a higher volatility of 25.39% compared to iShares Core High Dividend ETF (HDV) at 3.16%. This indicates that SKYU's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYU	HDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.39%	3.16%	+22.23%
Volatility (6M) Calculated over the trailing 6-month period	47.78%	7.51%	+40.27%
Volatility (1Y) Calculated over the trailing 1-year period	56.82%	9.71%	+47.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.02%	12.82%	+49.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.25%	15.73%	+45.52%

SKYU vs. HDV - Expense Ratio Comparison

SKYU has a 0.95% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

SKYU vs. HDV - Dividend Comparison

SKYU's dividend yield for the trailing twelve months is around 0.64%, less than HDV's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDV iShares Core High Dividend ETF	2.88%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%
SKYU ProShares Ultra Nasdaq Cloud Computing ETF	0.64%	0.56%	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SKYU and HDV in my portfolio?

SKYU and HDV have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKYU or HDV?

SKYU has higher volatility (25.39%) compared to HDV (3.16%). In terms of maximum drawdown, SKYU dropped -83.01% vs HDV's -37.04%.

Which ETF is better, SKYU or HDV?

On 5-year performance, HDV leads with 10.52% vs 0.04% for SKYU. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYU or HDV?

Over the 5-year period, HDV has performed better with a 10.52% return vs 0.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYU or HDV?

HDV is cheaper with a 0.08% expense ratio, compared with 0.95% for SKYU.

Which ETF pays a higher dividend yield, SKYU or HDV?

HDV has the higher dividend yield at 2.88%, compared with 0.64% for SKYU.

What is the main difference between SKYU and HDV?

SKYU is categorized as Leveraged Equities, while HDV is Dividend. SKYU tracks ISE Cloud Computing Index (200%), while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SKYU and 0.08% for HDV.

Which has better risk-adjusted returns?

HDV currently has the higher Sharpe Ratio (2.35 vs 0.43), 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.