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SPXU vs. SDOW
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

SPXU vs. SDOW

Last updated May 13, 2025

Compare and contrast key facts about ProShares UltraPro Short S&P500 (SPXU) and ProShares UltraPro Short Dow30 (SDOW).

SPXU and SDOW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPXU is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (-300%). It was launched on Jun 25, 2009. SDOW is a passively managed fund by ProShares that tracks the performance of the Dow Jones Industrial Average (-300%). It was launched on Feb 11, 2010. Both SPXU and SDOW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPXU or SDOW.

Correlation

The correlation between SPXU and SDOW is -0.92. 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.

Performance

SPXU vs. SDOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short S&P500 (SPXU) and ProShares UltraPro Short Dow30 (SDOW). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

SPXU:

-0.60

SDOW:

-0.44

Sortino Ratio

SPXU:

-0.65

SDOW:

-0.42

Omega Ratio

SPXU:

0.91

SDOW:

0.94

Calmar Ratio

SPXU:

-0.36

SDOW:

-0.25

Martin Ratio

SPXU:

-1.41

SDOW:

-1.07

Ulcer Index

SPXU:

25.54%

SDOW:

23.66%

Daily Std Dev

SPXU:

58.31%

SDOW:

51.49%

Max Drawdown

SPXU:

-99.99%

SDOW:

-99.94%

Current Drawdown

SPXU:

-99.99%

SDOW:

-99.93%

Returns By Period

In the year-to-date period, SPXU achieves a -9.57% return, which is significantly lower than SDOW's -6.37% return. Over the past 10 years, SPXU has underperformed SDOW with an annualized return of -38.87%, while SDOW has yielded a comparatively higher -35.81% annualized return.

SPXU

YTD

-9.57%

1M

-24.02%

6M

-3.29%

1Y

-34.66%

5Y*

-43.87%

10Y*

-38.87%

SDOW

YTD

-6.37%

1M

-15.66%

6M

6.18%

1Y

-22.71%

5Y*

-37.94%

10Y*

-35.81%

*Annualized

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SPXU vs. SDOW - Expense Ratio Comparison

SPXU has a 0.93% expense ratio, which is lower than SDOW's 0.95% expense ratio.

SDOW
ProShares UltraPro Short Dow30
SPXU
ProShares UltraPro Short S&P500

Risk-Adjusted Performance

SPXU vs. SDOW — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPXU
The Risk-Adjusted Performance Rank of SPXU is 33
Overall Rank
The Sharpe Ratio Rank of SPXU is 33
Sharpe Ratio Rank
The Sortino Ratio Rank of SPXU is 44
Sortino Ratio Rank
The Omega Ratio Rank of SPXU is 33
Omega Ratio Rank
The Calmar Ratio Rank of SPXU is 44
Calmar Ratio Rank
The Martin Ratio Rank of SPXU is 22
Martin Ratio Rank
SDOW
The Risk-Adjusted Performance Rank of SDOW is 66
Overall Rank
The Sharpe Ratio Rank of SDOW is 66
Sharpe Ratio Rank
The Sortino Ratio Rank of SDOW is 77
Sortino Ratio Rank
The Omega Ratio Rank of SDOW is 66
Omega Ratio Rank
The Calmar Ratio Rank of SDOW is 77
Calmar Ratio Rank
The Martin Ratio Rank of SDOW is 55
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

SPXU vs. SDOW - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short S&P500 (SPXU) and ProShares UltraPro Short Dow30 (SDOW). 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.

The current SPXU Sharpe Ratio is -0.60, which is lower than the SDOW Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of SPXU and SDOW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Dividends

SPXU vs. SDOW - Dividend Comparison

SPXU's dividend yield for the trailing twelve months is around 8.79%, more than SDOW's 8.14% yield.

TTM20242023202220212020201920182017
SPXU
ProShares UltraPro Short S&P500		8.79%9.53%7.07%0.39%0.00%0.71%2.14%1.41%0.11%
SDOW
ProShares UltraPro Short Dow30		8.14%8.30%5.38%0.36%0.00%0.52%2.17%1.23%0.09%

Drawdowns

SPXU vs. SDOW - Drawdown Comparison

The maximum SPXU drawdown since its inception was -99.99%, roughly equal to the maximum SDOW drawdown of -99.94%. Use the drawdown chart below to compare losses from any high point for SPXU and SDOW. For additional features, visit the drawdowns tool.

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Volatility

SPXU vs. SDOW - Volatility Comparison

ProShares UltraPro Short S&P500 (SPXU) has a higher volatility of 19.22% compared to ProShares UltraPro Short Dow30 (SDOW) at 18.18%. This indicates that SPXU's price experiences larger fluctuations and is considered to be riskier than SDOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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