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 -40.23%/yr vs 19.62%/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 -33.48% return, which is significantly lower than KORU's 559.14% return. Over the past 10 years, SMDD has underperformed KORU with an annualized return of -40.23%, while KORU has yielded a comparatively higher 19.62% annualized return.
SMDD
- 1D
- 0.19%
- 1M
- -11.19%
- YTD
- -33.48%
- 6M
- -33.71%
- 1Y
- -48.94%
- 3Y*
- -38.20%
- 5Y*
- -29.60%
- 10Y*
- -40.23%
KORU
- 1D
- -2.29%
- 1M
- 92.47%
- YTD
- 559.14%
- 6M
- 689.29%
- 1Y
- 2,160.10%
- 3Y*
- 132.56%
- 5Y*
- 23.42%
- 10Y*
- 19.62%
SMDD vs. KORU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMDD ProShares UltraPro Short MidCap400 | -33.48% | -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 | 559.14% | 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 -0.47, 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 | -0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.50 |
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 11, 2013 | -0.53 |
The correlation between SMDD and KORU has been stable across timeframes, ranging from -0.55 to -0.47 - 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.
| SMDD | KORU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.68 | ||
| Sortino ratioReturn per unit of downside risk | -6.80 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.72 | -0.91 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 35.65 | -36.62 |
| Martin ratioReturn relative to average drawdown | -1.65 | 112.99 | -114.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMDD | KORU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | 17.63 | -18.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.51 | 0.28 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.64 | 0.25 | -0.88 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.71 | 0.13 | -0.84 |
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 | -50.42% | -61.39% | +10.97% |
Max Drawdown (3Y)Largest decline over 3 years | -81.09% | -73.71% | -7.38% |
Max Drawdown (5Y)Largest decline over 5 years | -87.20% | -93.35% | +6.15% |
Max Drawdown (10Y)Largest decline over 10 years | -99.50% | -95.79% | -3.71% |
Current DrawdownCurrent decline from peak | -99.99% | -5.39% | -94.60% |
Average DrawdownAverage peak-to-trough decline | -92.96% | -57.53% | -35.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.68% | 19.33% | +10.35% |
Volatility
SMDD vs. KORU - Volatility Comparison
The current volatility for ProShares UltraPro Short MidCap400 (SMDD) is 13.34%, while Direxion Daily South Korea Bull 3X Shares (KORU) has a volatility of 60.18%. 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 | 13.34% | 60.18% | -46.84% |
Volatility (6M)Calculated over the trailing 6-month period | 34.30% | 110.71% | -76.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.71% | 124.15% | -77.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.82% | 85.11% | -26.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.34% | 79.91% | -16.57% |
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 7.01%, more than KORU's 0.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily South Korea Bull 3X Shares | 0.14% | 0.89% | 4.10% | 2.55% | 0.48% | 0.76% | 0.01% | 0.93% | 1.40% | 3.59% |
SMDD ProShares UltraPro Short MidCap400 | 7.01% | 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 -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KORU has higher volatility (60.18%) compared to SMDD (13.34%). In terms of maximum drawdown, SMDD dropped -99.99% vs KORU's -95.79%.
On 10-year performance, KORU leads with 19.62% vs -40.23% for SMDD. On fees, SMDD is cheaper at 0.95% per year. On volatility, SMDD has been the lower-risk option at 13.34%. 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 19.62% return vs -40.23%. 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 7.01%, compared with 0.14% 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 (17.63 vs -1.05), 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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