SMN vs. DIG
Compare and contrast key facts about ProShares UltraShort Basic Materials (SMN) and ProShares Ultra Oil & Gas (DIG).
SMN and DIG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMN is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Basic Materials Index (-200%). It was launched on Jan 30, 2007. DIG is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Oil & Gas Index (200%). It was launched on Jan 30, 2007. Both SMN and DIG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SMN vs. DIG - Performance Comparison
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SMN vs. DIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMN ProShares UltraShort Basic Materials | -18.15% | -17.96% | 7.37% | -20.23% | -3.03% | -45.83% | -55.75% | -33.63% | 32.74% | -38.03% |
DIG ProShares Ultra Oil & Gas | 85.56% | 2.73% | 0.93% | -13.04% | 125.34% | 115.63% | -70.36% | 12.51% | -40.11% | -7.39% |
Returns By Period
In the year-to-date period, SMN achieves a -18.15% return, which is significantly lower than DIG's 85.56% return. Over the past 10 years, SMN has underperformed DIG with an annualized return of -25.54%, while DIG has yielded a comparatively higher 8.22% annualized return.
SMN
- 1D
- -2.72%
- 1M
- 13.58%
- YTD
- -18.15%
- 6M
- -20.28%
- 1Y
- -29.84%
- 3Y*
- -13.54%
- 5Y*
- -16.86%
- 10Y*
- -25.54%
DIG
- 1D
- -2.11%
- 1M
- 20.66%
- YTD
- 85.56%
- 6M
- 84.85%
- 1Y
- 61.85%
- 3Y*
- 23.97%
- 5Y*
- 36.31%
- 10Y*
- 8.22%
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SMN vs. DIG - Expense Ratio Comparison
Both SMN and DIG have an expense ratio of 0.95%.
Return for Risk
SMN vs. DIG — Risk / Return Rank
SMN
DIG
SMN vs. DIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Basic Materials (SMN) and ProShares Ultra Oil & Gas (DIG). 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.
| SMN | DIG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.70 | 1.26 | -1.96 |
Sortino ratioReturn per unit of downside risk | -0.83 | 1.68 | -2.52 |
Omega ratioGain probability vs. loss probability | 0.89 | 1.25 | -0.35 |
Calmar ratioReturn relative to maximum drawdown | -0.58 | 1.85 | -2.43 |
Martin ratioReturn relative to average drawdown | -0.88 | 3.79 | -4.67 |
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
| SMN | DIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | 1.26 | -1.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | 0.71 | -1.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.60 | 0.14 | -0.74 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 0.01 | -0.54 |
Correlation
The correlation between SMN and DIG is -0.69. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
SMN vs. DIG - Dividend Comparison
SMN's dividend yield for the trailing twelve months is around 4.30%, more than DIG's 1.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMN ProShares UltraShort Basic Materials | 4.30% | 4.08% | 5.02% | 4.54% | 0.42% | 0.00% | 0.00% | 0.72% | 0.06% | 0.00% | 0.00% | 0.00% |
DIG ProShares Ultra Oil & Gas | 1.34% | 2.62% | 3.13% | 0.61% | 1.33% | 2.24% | 3.18% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% |
Drawdowns
SMN vs. DIG - Drawdown Comparison
The maximum SMN drawdown since its inception was -99.92%, roughly equal to the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for SMN and DIG.
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Drawdown Indicators
| SMN | DIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -97.04% | -2.88% |
Max Drawdown (1Y)Largest decline over 1 year | -53.71% | -35.40% | -18.31% |
Max Drawdown (5Y)Largest decline over 5 years | -66.05% | -46.02% | -20.03% |
Max Drawdown (10Y)Largest decline over 10 years | -95.64% | -92.53% | -3.11% |
Current DrawdownCurrent decline from peak | -99.90% | -45.64% | -54.26% |
Average DrawdownAverage peak-to-trough decline | -90.46% | -64.48% | -25.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.23% | 17.30% | +17.93% |
Volatility
SMN vs. DIG - Volatility Comparison
ProShares UltraShort Basic Materials (SMN) has a higher volatility of 12.67% compared to ProShares Ultra Oil & Gas (DIG) at 9.86%. This indicates that SMN's price experiences larger fluctuations and is considered to be riskier than DIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMN | DIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.67% | 9.86% | +2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 25.22% | 27.64% | -2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.54% | 49.37% | -6.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.57% | 51.66% | -12.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.87% | 57.59% | -14.72% |