SMDD vs. KORU
SMDD (ProShares UltraPro Short MidCap400) and KORU (Direxion Daily South Korea Bull 3X Shares) are both Leveraged Equities funds - SMDD tracks the S&P MidCap 400 Index (-300%) while KORU tracks the MSCI Korea 25-50 Index. Both are passively managed. Over the past 10 years, SMDD returned -40.87%/yr vs 15.15%/yr for KORU. At a correlation of -0.53, they often move in opposite directions. SMDD charges 0.95%/yr vs 1.29%/yr for KORU.
Performance
SMDD vs. KORU - Performance Comparison
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Returns By Period
In the year-to-date period, SMDD achieves a -36.25% return, which is significantly lower than KORU's 308.29% return. Over the past 10 years, SMDD has underperformed KORU with an annualized return of -40.87%, while KORU has yielded a comparatively higher 15.15% annualized return.
SMDD
- 1D
- -2.43%
- 1M
- -10.32%
- YTD
- -36.25%
- 6M
- -32.21%
- 1Y
- -48.94%
- 3Y*
- -38.79%
- 5Y*
- -30.05%
- 10Y*
- -40.87%
KORU
- 1D
- 5.90%
- 1M
- -5.01%
- YTD
- 308.29%
- 6M
- 341.55%
- 1Y
- 789.62%
- 3Y*
- 104.57%
- 5Y*
- 12.17%
- 10Y*
- 15.15%
SMDD vs. KORU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMDD ProShares UltraPro Short MidCap400 | -36.25% | -27.46% | -31.02% | -38.37% | 7.69% | -58.01% | -74.71% | -53.34% | 33.50% | -39.87% |
KORU Direxion Daily South Korea Bull 3X Shares | 308.29% | 432.73% | -62.18% | 28.61% | -70.16% | -33.86% | 48.78% | 5.47% | -59.89% | 167.08% |
Correlation
The correlation between SMDD and KORU is -0.48, 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 | -0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013 | -0.53 |
The correlation between SMDD and KORU has been stable across timeframes, ranging from -0.55 to -0.48 - a consistent structural relationship.
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Return for Risk
SMDD vs. KORU — Risk / Return Rank
SMDD
KORU
SMDD vs. KORU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short MidCap400 (SMDD) and Direxion Daily South Korea Bull 3X Shares (KORU). 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.
| SMDD | KORU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.58 | ||
| Sortino ratioReturn per unit of downside risk | -5.02 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.51 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 12.99 | -13.96 |
| Martin ratioReturn relative to average drawdown | -1.68 | 37.77 | -39.45 |
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Drawdowns
SMDD vs. KORU - Drawdown Comparison
The maximum SMDD drawdown since its inception was -99.99%, roughly equal to the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for SMDD and KORU.
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Drawdown Indicators
| SMDD | KORU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -95.79% | -4.20% |
Max Drawdown (1Y)Largest decline over 1 year | -50.54% | -61.39% | +10.85% |
Max Drawdown (3Y)Largest decline over 3 years | -81.99% | -73.34% | -8.65% |
Max Drawdown (5Y)Largest decline over 5 years | -87.81% | -93.34% | +5.53% |
Max Drawdown (10Y)Largest decline over 10 years | -99.52% | -95.79% | -3.73% |
Current DrawdownCurrent decline from peak | -99.99% | -41.40% | -58.59% |
Average DrawdownAverage peak-to-trough decline | -92.96% | -57.41% | -35.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.20% | 21.07% | +8.13% |
Volatility
SMDD vs. KORU - Volatility Comparison
The current volatility for ProShares UltraPro Short MidCap400 (SMDD) is 14.01%, while Direxion Daily South Korea Bull 3X Shares (KORU) has a volatility of 92.24%. This indicates that SMDD experiences smaller price fluctuations and is considered to be less risky than KORU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMDD | KORU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.01% | 92.24% | -78.23% |
Volatility (6M)Calculated over the trailing 6-month period | 35.56% | 138.68% | -103.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.65% | 144.21% | -96.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.88% | 91.42% | -32.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.35% | 83.04% | -19.69% |
SMDD vs. KORU - Expense Ratio Comparison
SMDD has a 0.95% expense ratio, which is lower than KORU's 1.29% expense ratio.
Dividends
SMDD vs. KORU - Dividend Comparison
SMDD's dividend yield for the trailing twelve months is around 7.31%, more than KORU's 0.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily South Korea Bull 3X Shares | 0.21% | 0.89% | 4.10% | 2.55% | 0.48% | 0.76% | 0.01% | 0.93% | 1.40% | 3.59% |
SMDD ProShares UltraPro Short MidCap400 | 7.31% | 4.96% | 4.09% | 3.86% | 0.14% | 0.00% | 0.13% | 1.51% | 0.09% | 0.00% |
Frequently Asked Questions
SMDD and KORU have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KORU has higher volatility (92.24%) compared to SMDD (14.01%). In terms of maximum drawdown, SMDD dropped -99.99% vs KORU's -95.79%.
On 10-year performance, KORU leads with 15.15% vs -40.87% for SMDD. On fees, SMDD is cheaper at 0.95% per year. On volatility, SMDD has been the lower-risk option at 14.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, KORU has performed better with a 15.15% return vs -40.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMDD is cheaper with a 0.95% expense ratio, compared with 1.29% for KORU.
SMDD has the higher dividend yield at 7.31%, compared with 0.21% for KORU.
SMDD tracks S&P MidCap 400 Index (-300%), while KORU tracks MSCI Korea 25-50 Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SMDD and 1.29% for KORU.
KORU currently has the higher Sharpe Ratio (5.55 vs -1.03), 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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