SRTY vs. SDOW

Last updated Jul 14, 2026

SRTY (ProShares UltraPro Short Russell2000) and SDOW (ProShares UltraPro Short Dow30) are both Leveraged Equities funds from ProShares - SRTY tracks the Russell 2000 Index (-300%) while SDOW tracks the Dow Jones Industrial Average (-300%). Both are passively managed. Over the past 10 years, SRTY returned -43.23%/yr vs -37.72%/yr for SDOW. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.

Performance

SRTY vs. SDOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short Russell2000 (SRTY) and ProShares UltraPro Short Dow30 (SDOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SRTY achieves a -44.74% return, which is significantly lower than SDOW's -23.82% return. Over the past 10 years, SRTY has underperformed SDOW with an annualized return of -43.23%, while SDOW has yielded a comparatively higher -37.72% annualized return.

SRTY

• 1D: 2.54%
• 1M: -1.01%
• 6M: -33.79%
• YTD: -44.74%
• 1Y: -61.69%
• 3Y*: -43.41%
• 5Y*: -32.96%
• 10Y*: -43.23%

SDOW

• 1D: 0.80%
• 1M: -6.83%
• 6M: -16.47%
• YTD: -23.82%
• 1Y: -38.80%
• 3Y*: -33.34%
• 5Y*: -25.64%
• 10Y*: -37.72%

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

SRTY vs. SDOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SRTY ProShares UltraPro Short Russell2000	-44.74%	-40.55%	-32.91%	-42.02%	28.99%	-51.67%	-80.61%	-53.83%	23.37%	-38.31%
SDOW ProShares UltraPro Short Dow30	-23.82%	-33.94%	-25.95%	-28.78%	4.00%	-49.00%	-66.48%	-49.54%	-0.30%	-52.26%

Correlation

The correlation between SRTY and SDOW is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.79

The correlation between SRTY and SDOW has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

SRTY vs. SDOW - Sectors Allocation Comparison

Sectors	SRTY	SDOW
Financial Services	45.6%	82.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SRTY vs. SDOW — Risk / Return Rank

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

SRTY

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

SDOW

SDOW Risk / Return Rank: 1
SDOW Sharpe Ratio Rank: 1
SDOW Sortino Ratio Rank: 2
SDOW Omega Ratio Rank: 2
SDOW Calmar Ratio Rank: 2
SDOW 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.

SRTY vs. SDOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Russell2000 (SRTY) 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.

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.

	SRTY	SDOW	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	-1.06	0.00
Sortino ratio: Return per unit of downside risk	-1.79	-1.53	-0.25
Omega ratio: Gain probability vs. loss probability	0.80	0.83	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.92	-0.88	-0.04
Martin ratio: Return relative to average drawdown	-1.41	-1.54	+0.13

SRTY vs. SDOW - Sharpe Ratio Comparison

The current SRTY Sharpe Ratio is -1.06, which is comparable to the SDOW Sharpe Ratio of -1.06. The chart below compares the historical Sharpe Ratios of SRTY and SDOW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SRTY vs. SDOW - Drawdown Comparison

The maximum SRTY drawdown since its inception was -100.00%, roughly equal to the maximum SDOW drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for SRTY and SDOW.

Drawdown Indicators

	SRTY	SDOW	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-99.97%	-0.03%
Max Drawdown (1Y) Largest decline over 1 year	-67.43%	-44.20%	-23.23%
Max Drawdown (3Y) Largest decline over 3 years	-89.67%	-76.85%	-12.82%
Max Drawdown (5Y) Largest decline over 5 years	-92.04%	-84.05%	-7.99%
Max Drawdown (10Y) Largest decline over 10 years	-99.70%	-99.21%	-0.49%
Current Drawdown Current decline from peak	-100.00%	-99.96%	-0.04%
Average Drawdown Average peak-to-trough decline	-94.16%	-89.62%	-4.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.75%	25.17%	+18.58%

Volatility

SRTY vs. SDOW - Volatility Comparison

ProShares UltraPro Short Russell2000 (SRTY) has a higher volatility of 14.86% compared to ProShares UltraPro Short Dow30 (SDOW) at 9.08%. This indicates that SRTY'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.

Volatility by Period

	SRTY	SDOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.86%	9.08%	+5.78%
Volatility (6M) Calculated over the trailing 6-month period	42.72%	29.15%	+13.57%
Volatility (1Y) Calculated over the trailing 1-year period	58.34%	36.78%	+21.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.56%	44.40%	+23.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.25%	52.05%	+16.20%

SRTY vs. SDOW - Expense Ratio Comparison

Both SRTY and SDOW have an expense ratio of 0.95%.

Dividends

SRTY vs. SDOW - Dividend Comparison

SRTY's dividend yield for the trailing twelve months is around 8.31%, more than SDOW's 5.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SDOW ProShares UltraPro Short Dow30	5.44%	5.80%	8.30%	5.38%	0.36%	0.00%	0.52%	2.17%	1.23%	0.09%
SRTY ProShares UltraPro Short Russell2000	8.31%	6.87%	9.40%	4.93%	0.17%	0.00%	0.95%	2.13%	0.70%	0.04%

Frequently Asked Questions

Can I hold both SRTY and SDOW in my portfolio?

SRTY and SDOW have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SRTY or SDOW?

SRTY has higher volatility (14.86%) compared to SDOW (9.08%). In terms of maximum drawdown, SRTY dropped -100.00% vs SDOW's -99.97%.

Which ETF is better, SRTY or SDOW?

On 10-year performance, SDOW leads with -37.72% vs -43.23% for SRTY. Both ETFs have the same 0.95% expense ratio. On volatility, SDOW has been the lower-risk option at 9.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SRTY or SDOW?

Over the 10-year period, SDOW has performed better with a -37.72% return vs -43.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SRTY or SDOW?

SRTY and SDOW have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, SRTY or SDOW?

SRTY has the higher dividend yield at 8.31%, compared with 5.44% for SDOW.

What is the main difference between SRTY and SDOW?

SRTY tracks Russell 2000 Index (-300%), while SDOW tracks Dow Jones Industrial Average (-300%).

Which has better risk-adjusted returns?

SDOW currently has the higher Sharpe Ratio (-1.06 vs -1.06), 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.