SMQ vs. DOG

Last updated Jun 6, 2026

SMQ (Tradr 1X Short Innovation 100 Monthly ETF) and DOG (ProShares Short Dow30) are both Inverse Equities funds. SMQ is actively managed, while DOG is passively managed. A 0.65 correlation means they provide meaningful diversification when combined. SMQ charges 1.50%/yr vs 0.95%/yr for DOG.

Performance

SMQ vs. DOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 1X Short Innovation 100 Monthly ETF (SMQ) and ProShares Short Dow30 (DOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMQ achieves a -15.77% return, which is significantly lower than DOG's -4.36% return.

SMQ

• 1D: 4.62%
• 1M: -3.50%
• YTD: -15.77%
• 6M: -14.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DOG

• 1D: 1.45%
• 1M: -1.71%
• YTD: -4.36%
• 6M: -4.24%
• 1Y: -13.37%
• 3Y*: -8.54%
• 5Y*: -5.36%
• 10Y*: -11.12%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SMQ vs. DOG - Yearly Performance Comparison

	2026 (YTD)	2025
SMQ Tradr 1X Short Innovation 100 Monthly ETF	-15.77%	0.39%
DOG ProShares Short Dow30	-4.36%	-1.16%

Correlation

The correlation between SMQ and DOG is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 2, 2025	0.65

Return for Risk

SMQ vs. DOG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DOG

DOG Risk / Return Rank: 1
DOG Sharpe Ratio Rank: 1
DOG Sortino Ratio Rank: 2
DOG Omega Ratio Rank: 2
DOG Calmar Ratio Rank: 1
DOG Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMQ vs. DOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 1X Short Innovation 100 Monthly ETF (SMQ) and ProShares Short Dow30 (DOG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SMQ	DOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-1.09	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.36	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.47	-0.57	-0.90

Drawdowns

SMQ vs. DOG - Drawdown Comparison

The maximum SMQ drawdown since its inception was -27.62%, smaller than the maximum DOG drawdown of -92.73%. Use the drawdown chart below to compare losses from any high point for SMQ and DOG.

Drawdown Indicators

	SMQ	DOG	Difference
Max Drawdown Largest peak-to-trough decline	-27.62%	-92.73%	+65.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-29.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.35%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-70.95%	—
Current Drawdown Current decline from peak	-23.66%	-92.62%	+68.96%
Average Drawdown Average peak-to-trough decline	-7.66%	-66.40%	+58.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.98%	—

Volatility

Volatility by Period

	SMQ	DOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.51%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.58%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	12.32%	+6.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.18%	14.81%	+4.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	17.50%	+1.68%

SMQ vs. DOG - Expense Ratio Comparison

SMQ has a 1.50% expense ratio, which is higher than DOG's 0.95% expense ratio.

Dividends

SMQ vs. DOG - Dividend Comparison

SMQ's dividend yield for the trailing twelve months is around 0.29%, less than DOG's 3.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DOG ProShares Short Dow30	3.50%	3.65%	5.72%	4.54%	0.41%	0.00%	0.14%	1.54%	0.86%	0.04%
SMQ Tradr 1X Short Innovation 100 Monthly ETF	0.29%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMQ and DOG in my portfolio?

SMQ and DOG have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMQ or DOG?

On fees, DOG is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMQ or DOG?

DOG is cheaper with a 0.95% expense ratio, compared with 1.50% for SMQ.

Which ETF pays a higher dividend yield, SMQ or DOG?

DOG has the higher dividend yield at 3.50%, compared with 0.29% for SMQ.

What is the main difference between SMQ and DOG?

They also come from different issuers: Tradr and ProShares. Their fees differ too: 1.50% for SMQ and 0.95% for DOG.