SSG vs. REW
SSG (Proshares Ultrashort Semiconductors) and REW (ProShares UltraShort Technology) are both Leveraged Equities funds from ProShares - SSG tracks the Dow Jones U.S. Semiconductors Index (-200%) while REW tracks the Dow Jones U.S. Technology Index (-200%). Both are passively managed. Over the past 10 years, SSG returned -62.09%/yr vs -45.02%/yr for REW. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.
Performance
SSG vs. REW - Performance Comparison
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Returns By Period
In the year-to-date period, SSG achieves a -58.97% return, which is significantly lower than REW's -43.46% return. Over the past 10 years, SSG has underperformed REW with an annualized return of -62.09%, while REW has yielded a comparatively higher -45.02% annualized return.
SSG
- 1D
- 12.02%
- 1M
- -11.92%
- YTD
- -58.97%
- 6M
- -57.87%
- 1Y
- -78.94%
- 3Y*
- -74.04%
- 5Y*
- -66.24%
- 10Y*
- -62.09%
REW
- 1D
- 8.41%
- 1M
- -7.69%
- YTD
- -43.46%
- 6M
- -41.80%
- 1Y
- -59.92%
- 3Y*
- -45.10%
- 5Y*
- -37.89%
- 10Y*
- -45.02%
SSG vs. REW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSG Proshares Ultrashort Semiconductors | -58.97% | -70.03% | -77.59% | -78.69% | 37.90% | -67.46% | -76.50% | -63.33% | -0.79% | -51.60% |
REW ProShares UltraShort Technology | -43.46% | -43.15% | -33.70% | -61.35% | 65.72% | -53.61% | -71.34% | -56.83% | -10.02% | -49.11% |
Correlation
The correlation between SSG and REW is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007 | 0.83 |
The correlation between SSG and REW has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
SSG vs. REW — Risk / Return Rank
SSG
REW
SSG vs. REW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) and ProShares UltraShort Technology (REW). 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.
| SSG | REW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 0.75 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.96 | -0.03 |
| Martin ratioReturn relative to average drawdown | -1.64 | -2.00 | +0.37 |
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Drawdowns
SSG vs. REW - Drawdown Comparison
The maximum SSG drawdown since its inception was -100.00%, roughly equal to the maximum REW drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for SSG and REW.
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Drawdown Indicators
| SSG | REW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.99% | -0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -79.92% | -62.81% | -17.11% |
Max Drawdown (3Y)Largest decline over 3 years | -98.56% | -86.76% | -11.80% |
Max Drawdown (5Y)Largest decline over 5 years | -99.66% | -93.62% | -6.04% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -99.79% | -0.20% |
Current DrawdownCurrent decline from peak | -100.00% | -99.99% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -88.60% | -86.90% | -1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.14% | 32.15% | +18.99% |
Volatility
SSG vs. REW - Volatility Comparison
Proshares Ultrashort Semiconductors (SSG) has a higher volatility of 33.37% compared to ProShares UltraShort Technology (REW) at 24.81%. This indicates that SSG's price experiences larger fluctuations and is considered to be riskier than REW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSG | REW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.37% | 24.81% | +8.56% |
Volatility (6M)Calculated over the trailing 6-month period | 54.63% | 39.86% | +14.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.68% | 47.48% | +21.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.55% | 52.55% | +26.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.63% | 49.30% | +20.33% |
SSG vs. REW - Expense Ratio Comparison
Both SSG and REW have an expense ratio of 0.95%.
Dividends
SSG vs. REW - Dividend Comparison
SSG's dividend yield for the trailing twelve months is around 12.72%, more than REW's 10.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
REW ProShares UltraShort Technology | 10.07% | 6.69% | 5.68% | 5.97% | 0.65% | 0.00% | 0.27% | 1.80% | 0.51% |
SSG Proshares Ultrashort Semiconductors | 12.72% | 9.19% | 7.67% | 6.73% | 0.75% | 0.00% | 0.34% | 1.81% | 0.62% |
Frequently Asked Questions
SSG and REW have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSG has higher volatility (33.37%) compared to REW (24.81%). In terms of maximum drawdown, SSG dropped -100.00% vs REW's -99.99%.
On 10-year performance, REW leads with -45.02% vs -62.09% for SSG. Both ETFs have the same 0.95% expense ratio. On volatility, REW has been the lower-risk option at 24.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, REW has performed better with a -45.02% return vs -62.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SSG and REW have the same expense ratio: 0.95% per year.
SSG has the higher dividend yield at 12.72%, compared with 10.07% for REW.
SSG tracks Dow Jones U.S. Semiconductors Index (-200%), while REW tracks Dow Jones U.S. Technology Index (-200%).
SSG currently has the higher Sharpe Ratio (-1.15 vs -1.27), 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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