SSG vs. SZK
SSG (Proshares Ultrashort Semiconductors) and SZK (ProShares UltraShort Consumer Goods) are both Leveraged Equities funds from ProShares - SSG tracks the Dow Jones U.S. Semiconductors Index (-200%) while SZK tracks the Dow Jones U.S. Consumer Goods Index (-200%). Both are passively managed. Over the past 10 years, SSG returned -60.80%/yr vs -16.29%/yr for SZK. Their 0.43 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
SSG vs. SZK - Performance Comparison
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Returns By Period
In the year-to-date period, SSG achieves a -54.20% return, which is significantly lower than SZK's -17.72% return. Over the past 10 years, SSG has underperformed SZK with an annualized return of -60.80%, while SZK has yielded a comparatively higher -16.29% annualized return.
SSG
- 1D
- -1.00%
- 1M
- 3.51%
- 6M
- -48.20%
- YTD
- -54.20%
- 1Y
- -68.86%
- 3Y*
- -71.03%
- 5Y*
- -64.98%
- 10Y*
- -60.80%
- ALL TIME*
- -48.52%
SZK
- 1D
- 0.85%
- 1M
- -0.28%
- 6M
- -5.05%
- YTD
- -17.72%
- 1Y
- -11.68%
- 3Y*
- -5.80%
- 5Y*
- -3.85%
- 10Y*
- -16.29%
- ALL TIME*
- -19.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.79M | $12.75M | $12.54M | |
| $85.70K | $65.45K | $43.62K |
SSG vs. SZK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSG Proshares Ultrashort Semiconductors | -54.20% | -70.03% | -77.59% | -78.69% | 37.90% | -67.46% | -76.50% | -63.33% | -0.79% | -51.60% |
SZK ProShares UltraShort Consumer Goods | -17.72% | 3.37% | -11.33% | -3.10% | 47.20% | -37.78% | -58.24% | -39.43% | 33.62% | -27.22% |
Correlation
The correlation between SSG and SZK is -0.38, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.38 |
Correlation (3Y) Balances recent behavior with more history. | -0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.21 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.32 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | 0.43 |
The correlation between SSG and SZK shifts across timeframes, from -0.38 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SSG vs. SZK — Risk / Return Rank
SSG
SZK
SSG vs. SZK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) and ProShares UltraShort Consumer Goods (SZK). 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 | SZK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.95 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.43 | -0.47 |
| Martin ratioReturn relative to average drawdown | -1.50 | -0.83 | -0.67 |
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Drawdowns
SSG vs. SZK - Drawdown Comparison
The maximum SSG drawdown since its inception was -100.00%, roughly equal to the maximum SZK drawdown of -99.40%. Use the drawdown chart below to compare losses from any high point for SSG and SZK.
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Drawdown Indicators
| SSG | SZK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.40% | -0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -75.10% | -29.26% | -45.84% |
Max Drawdown (3Y)Largest decline over 3 years | -98.56% | -41.81% | -56.75% |
Max Drawdown (5Y)Largest decline over 5 years | -99.66% | -41.81% | -57.85% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -86.78% | -13.21% |
Current DrawdownCurrent decline from peak | -100.00% | -99.30% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -88.67% | -82.12% | -6.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.99% | 15.23% | +29.76% |
Volatility
SSG vs. SZK - Volatility Comparison
Proshares Ultrashort Semiconductors (SSG) has a higher volatility of 28.95% compared to ProShares UltraShort Consumer Goods (SZK) at 12.54%. This indicates that SSG's price experiences larger fluctuations and is considered to be riskier than SZK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSG | SZK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.95% | 12.54% | +16.41% |
Volatility (6M)Calculated over the trailing 6-month period | 62.00% | 23.42% | +38.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.90% | 28.28% | +46.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.59% | 31.97% | +47.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.22% | 33.77% | +36.45% |
SSG vs. SZK - Expense Ratio Comparison
Both SSG and SZK have an expense ratio of 0.95%.
Dividends
SSG vs. SZK - Dividend Comparison
SSG's dividend yield for the trailing twelve months is around 8.90%, more than SZK's 2.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SSG Proshares Ultrashort Semiconductors | 8.90% | 9.19% | 7.67% | 6.73% | 0.75% | 0.00% | 0.34% | 1.81% | 0.62% |
SZK ProShares UltraShort Consumer Goods | 2.79% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% |
Frequently Asked Questions
SSG and SZK have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSG has higher volatility (28.95%) compared to SZK (12.54%). In terms of maximum drawdown, SSG dropped -100.00% vs SZK's -99.40%.
On 10-year performance, SZK leads with -16.29% vs -60.80% for SSG. Both ETFs have the same 0.95% expense ratio. On volatility, SZK has been the lower-risk option at 12.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SZK has performed better with a -16.29% return vs -60.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SSG and SZK have the same expense ratio: 0.95% per year.
SSG has the higher dividend yield at 8.90%, compared with 2.79% for SZK.
SSG tracks Dow Jones U.S. Semiconductors Index (-200%), while SZK tracks Dow Jones U.S. Consumer Goods Index (-200%).
SZK currently has the higher Sharpe Ratio (-0.45 vs -0.91), 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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