SMN vs. KORU
SMN (ProShares UltraShort Basic Materials) and KORU (Direxion Daily MSCI South Korea Bull 3X Shares) are both exchange-traded funds - SMN is a Leveraged Equities fund tracking the Dow Jones U.S. Basic Materials Index (-200%), while KORU is a South Korea Equities fund tracking the MSCI Korea 25/50 Index. Both are passively managed. Over the past 10 years, SMN returned -24.33%/yr vs 2.30%/yr for KORU. Their -0.51 correlation means they have often moved in opposite directions in the past. SMN charges 0.95%/yr vs 1.32%/yr for KORU.
Performance
SMN vs. KORU - Performance Comparison
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Returns By Period
In the year-to-date period, SMN achieves a -21.02% return, which is significantly lower than KORU's 65.13% return. Over the past 10 years, SMN has underperformed KORU with an annualized return of -24.33%, while KORU has yielded a comparatively higher 2.30% annualized return.
SMN
- 1D
- 4.82%
- 1M
- 5.83%
- 6M
- -6.93%
- YTD
- -21.02%
- 1Y
- -27.84%
- 3Y*
- -11.39%
- 5Y*
- -15.10%
- 10Y*
- -24.33%
- ALL TIME*
- -27.57%
KORU
- 1D
- -7.92%
- 1M
- -44.63%
- 6M
- -13.80%
- YTD
- 65.13%
- 1Y
- 302.72%
- 3Y*
- 42.96%
- 5Y*
- -3.04%
- 10Y*
- 2.30%
- ALL TIME*
- -1.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $685.69M | $790.89M | $775.54M | |
| $75.76K | $77.21K | $125.63K |
SMN vs. KORU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMN ProShares UltraShort Basic Materials | -21.02% | -17.96% | 7.37% | -20.23% | -3.03% | -45.83% | -55.75% | -33.63% | 32.74% | -38.03% |
KORU Direxion Daily MSCI South Korea Bull 3X Shares | 65.13% | 432.73% | -62.18% | 28.61% | -70.16% | -33.86% | 48.78% | 5.47% | -59.89% | 167.08% |
Correlation
The correlation between SMN and KORU is -0.30, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.30 |
Correlation (3Y) Balances recent behavior with more history. | -0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.47 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.51 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013 | -0.51 |
Over the past year, the inverse relationship between SMN and KORU has weakened: their correlation has moved from -0.51 to -0.30, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SMN vs. KORU — Risk / Return Rank
SMN
KORU
SMN vs. KORU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Basic Materials (SMN) and Direxion Daily MSCI 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.
| SMN | KORU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.40 | ||
| Sortino ratioReturn per unit of downside risk | -3.34 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.34 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 3.32 | -3.99 |
| Martin ratioReturn relative to average drawdown | -1.03 | 9.21 | -10.24 |
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Drawdowns
SMN vs. KORU - Drawdown Comparison
The maximum SMN drawdown since its inception was -99.92%, roughly equal to the maximum KORU drawdown of -95.79%. Use the drawdown chart below to compare losses from any high point for SMN and KORU.
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Drawdown Indicators
| SMN | KORU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -95.79% | -4.13% |
Max Drawdown (1Y)Largest decline over 1 year | -38.52% | -80.90% | +42.38% |
Max Drawdown (3Y)Largest decline over 3 years | -53.71% | -80.90% | +27.19% |
Max Drawdown (5Y)Largest decline over 5 years | -66.05% | -92.74% | +26.69% |
Max Drawdown (10Y)Largest decline over 10 years | -94.78% | -95.79% | +1.01% |
Current DrawdownCurrent decline from peak | -99.91% | -76.30% | -23.61% |
Average DrawdownAverage peak-to-trough decline | -90.61% | -57.44% | -33.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.80% | 29.12% | -4.32% |
Volatility
SMN vs. KORU - Volatility Comparison
The current volatility for ProShares UltraShort Basic Materials (SMN) is 11.50%, while Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a volatility of 64.87%. This indicates that SMN 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
| SMN | KORU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.50% | 64.87% | -53.37% |
Volatility (6M)Calculated over the trailing 6-month period | 28.66% | 154.02% | -125.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.55% | 159.66% | -124.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.71% | 96.56% | -56.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.89% | 85.82% | -42.93% |
SMN vs. KORU - Expense Ratio Comparison
SMN has a 0.95% expense ratio, which is lower than KORU's 1.32% expense ratio.
Dividends
SMN vs. KORU - Dividend Comparison
SMN's dividend yield for the trailing twelve months is around 3.54%, more than KORU's 0.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily MSCI South Korea Bull 3X Shares | 0.53% | 0.89% | 4.10% | 2.55% | 0.48% | 0.76% | 0.01% | 0.93% | 1.40% | 3.59% |
SMN ProShares UltraShort Basic Materials | 3.54% | 4.08% | 5.02% | 4.54% | 0.42% | 0.00% | 0.00% | 0.72% | 0.06% | 0.00% |
Frequently Asked Questions
SMN and KORU have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KORU has higher volatility (64.87%) compared to SMN (11.50%). In terms of maximum drawdown, SMN dropped -99.92% vs KORU's -95.79%.
On 10-year performance, KORU leads with 2.30% vs -24.33% for SMN. On fees, SMN is cheaper at 0.95% per year. On volatility, SMN has been the lower-risk option at 11.50%. 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 2.30% return vs -24.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMN is cheaper with a 0.95% expense ratio, compared with 1.32% for KORU.
SMN has the higher dividend yield at 3.54%, compared with 0.53% for KORU.
SMN is categorized as Leveraged Equities, while KORU is South Korea Equities. SMN tracks Dow Jones U.S. Basic Materials Index (-200%), while KORU tracks MSCI Korea 25/50 Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SMN and 1.32% for KORU.
KORU currently has the higher Sharpe Ratio (1.68 vs -0.72), 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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