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 -24.19%/yr vs 6.31%/yr for KORU. At a correlation of -0.51, they often move in opposite directions. 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 -21.35% return, which is significantly lower than KORU's 130.89% return. Over the past 10 years, SMN has underperformed KORU with an annualized return of -24.19%, while KORU has yielded a comparatively higher 6.31% annualized return.
SMN
- 1D
- 1.63%
- 1M
- 5.80%
- 6M
- -10.07%
- YTD
- -21.35%
- 1Y
- -19.91%
- 3Y*
- -12.88%
- 5Y*
- -16.05%
- 10Y*
- -24.19%
KORU
- 1D
- -24.74%
- 1M
- -49.18%
- 6M
- 66.57%
- YTD
- 130.89%
- 1Y
- 413.07%
- 3Y*
- 60.31%
- 5Y*
- 1.85%
- 10Y*
- 6.31%
SMN vs. KORU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMN ProShares UltraShort Basic Materials | -21.35% | -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 | 130.89% | 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 -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.51 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2013 | -0.51 |
The correlation between SMN and KORU shifts across timeframes, from -0.51 (all time) to -0.32 (1 year), reflecting how their relationship changes across market environments.
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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 | -3.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.41 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.40 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 6.23 | -6.75 |
| Martin ratioReturn relative to average drawdown | -0.85 | 17.42 | -18.27 |
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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% | -66.86% | +28.34% |
Max Drawdown (3Y)Largest decline over 3 years | -53.71% | -73.34% | +19.63% |
Max Drawdown (5Y)Largest decline over 5 years | -66.05% | -92.82% | +26.77% |
Max Drawdown (10Y)Largest decline over 10 years | -94.78% | -95.79% | +1.01% |
Current DrawdownCurrent decline from peak | -99.91% | -66.86% | -33.05% |
Average DrawdownAverage peak-to-trough decline | -90.58% | -57.39% | -33.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.56% | 23.85% | -0.29% |
Volatility
SMN vs. KORU - Volatility Comparison
The current volatility for ProShares UltraShort Basic Materials (SMN) is 12.52%, while Direxion Daily MSCI South Korea Bull 3X Shares (KORU) has a volatility of 78.13%. 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 | 12.52% | 78.13% | -65.61% |
Volatility (6M)Calculated over the trailing 6-month period | 28.17% | 145.83% | -117.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.48% | 150.12% | -114.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.70% | 93.49% | -53.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.83% | 84.08% | -41.25% |
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 3.55%, more than KORU's 0.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
KORU Direxion Daily MSCI South Korea Bull 3X Shares | 0.38% | 0.89% | 4.10% | 2.55% | 0.48% | 0.76% | 0.01% | 0.93% | 1.40% | 3.59% |
SMN ProShares UltraShort Basic Materials | 3.55% | 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 -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KORU has higher volatility (78.13%) compared to SMN (12.52%). In terms of maximum drawdown, SMN dropped -99.92% vs KORU's -95.79%.
On 10-year performance, KORU leads with 6.31% vs -24.19% for SMN. On fees, SMN is cheaper at 0.95% per year. On volatility, SMN has been the lower-risk option at 12.52%. 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 6.31% return vs -24.19%. 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 3.55%, compared with 0.38% 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 (2.78 vs -0.56), 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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