SMN vs. XDSQ
SMN (ProShares UltraShort Basic Materials) and XDSQ (Innovator US Equity Accelerated ETF) are both Leveraged Equities funds. SMN is passively managed, while XDSQ is actively managed. Over the past 5 years, SMN returned -14.35%/yr vs 9.80%/yr for XDSQ. At a correlation of -0.65, they often move in opposite directions. SMN charges 0.95%/yr vs 0.79%/yr for XDSQ.
Performance
SMN vs. XDSQ - Performance Comparison
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Returns By Period
In the year-to-date period, SMN achieves a -23.85% return, which is significantly lower than XDSQ's 2.80% return.
SMN
- 1D
- -0.81%
- 1M
- -4.18%
- YTD
- -23.85%
- 6M
- -27.24%
- 1Y
- -28.88%
- 3Y*
- -17.26%
- 5Y*
- -14.35%
- 10Y*
- -25.09%
XDSQ
- 1D
- 0.01%
- 1M
- 1.59%
- YTD
- 2.80%
- 6M
- 3.86%
- 1Y
- 15.98%
- 3Y*
- 15.02%
- 5Y*
- 9.80%
- 10Y*
- —
SMN vs. XDSQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SMN ProShares UltraShort Basic Materials | -23.85% | -17.96% | 7.37% | -20.23% | -3.03% | -28.77% |
XDSQ Innovator US Equity Accelerated ETF | 2.80% | 14.22% | 23.12% | 23.00% | -16.78% | 12.75% |
Correlation
The correlation between SMN and XDSQ 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 | -0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021 | -0.65 |
The correlation between SMN and XDSQ shifts across timeframes, from -0.65 (5 years) to -0.48 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SMN vs. XDSQ — Risk / Return Rank
SMN
XDSQ
SMN vs. XDSQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Basic Materials (SMN) and Innovator US Equity Accelerated ETF (XDSQ). 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 | XDSQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.32 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 1.67 | -2.42 |
| Martin ratioReturn relative to average drawdown | -1.36 | 7.97 | -9.34 |
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 | XDSQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.86 | 1.52 | -2.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.36 | 0.65 | -1.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 0.69 | -1.23 |
Drawdowns
SMN vs. XDSQ - Drawdown Comparison
The maximum SMN drawdown since its inception was -99.92%, which is greater than XDSQ's maximum drawdown of -26.06%. Use the drawdown chart below to compare losses from any high point for SMN and XDSQ.
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Drawdown Indicators
| SMN | XDSQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -26.06% | -73.86% |
Max Drawdown (1Y)Largest decline over 1 year | -38.52% | -9.60% | -28.92% |
Max Drawdown (3Y)Largest decline over 3 years | -53.71% | -19.15% | -34.56% |
Max Drawdown (5Y)Largest decline over 5 years | -66.05% | -26.06% | -39.99% |
Max Drawdown (10Y)Largest decline over 10 years | -95.39% | — | — |
Current DrawdownCurrent decline from peak | -99.91% | 0.00% | -99.91% |
Average DrawdownAverage peak-to-trough decline | -90.55% | -4.96% | -85.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.25% | 2.01% | +19.24% |
Volatility
SMN vs. XDSQ - Volatility Comparison
ProShares UltraShort Basic Materials (SMN) has a higher volatility of 11.58% compared to Innovator US Equity Accelerated ETF (XDSQ) at 0.57%. This indicates that SMN's price experiences larger fluctuations and is considered to be riskier than XDSQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMN | XDSQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.58% | 0.57% | +11.01% |
Volatility (6M)Calculated over the trailing 6-month period | 26.63% | 8.40% | +18.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.89% | 10.56% | +23.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.54% | 15.27% | +24.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.90% | 15.10% | +27.80% |
SMN vs. XDSQ - Expense Ratio Comparison
SMN has a 0.95% expense ratio, which is higher than XDSQ's 0.79% expense ratio.
Dividends
SMN vs. XDSQ - Dividend Comparison
SMN's dividend yield for the trailing twelve months is around 4.62%, while XDSQ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SMN ProShares UltraShort Basic Materials | 4.62% | 4.08% | 5.02% | 4.54% | 0.42% | 0.00% | 0.00% | 0.72% | 0.06% |
XDSQ Innovator US Equity Accelerated ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMN and XDSQ 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.
SMN has higher volatility (11.58%) compared to XDSQ (0.57%). In terms of maximum drawdown, SMN dropped -99.92% vs XDSQ's -26.06%.
On 5-year performance, XDSQ leads with 9.80% vs -14.35% for SMN. On fees, XDSQ is cheaper at 0.79% per year. On volatility, XDSQ has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XDSQ has performed better with a 9.80% return vs -14.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XDSQ is cheaper with a 0.79% expense ratio, compared with 0.95% for SMN.
SMN has the higher dividend yield at 4.62%, compared with 0.00% for XDSQ.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for SMN and 0.79% for XDSQ.
XDSQ currently has the higher Sharpe Ratio (1.52 vs -0.86), 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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