SUPL vs. USD

Last updated Jun 3, 2026

SUPL (ProShares Supply Chain Logistics ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - SUPL is a Industrials Equities fund tracking the FactSet Supply Chain Logistics Index - Benchmark TR Net, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 3 years, SUPL returned 11.82%/yr vs 128.54%/yr for USD. A 0.51 correlation means they provide meaningful diversification when combined. SUPL charges 0.58%/yr vs 0.95%/yr for USD.

Performance

SUPL vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Supply Chain Logistics ETF (SUPL) and ProShares Ultra Semiconductors (USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SUPL achieves a 18.43% return, which is significantly lower than USD's 116.46% return.

SUPL

• 1D: 0.07%
• 1M: 3.30%
• YTD: 18.43%
• 6M: 21.89%
• 1Y: 28.98%
• 3Y*: 11.82%
• 5Y*: —
• 10Y*: —

USD

• 1D: 4.76%
• 1M: 45.27%
• YTD: 116.46%
• 6M: 113.25%
• 1Y: 300.04%
• 3Y*: 128.54%
• 5Y*: 71.52%
• 10Y*: 62.35%

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

SUPL vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SUPL ProShares Supply Chain Logistics ETF	18.43%	9.25%	-2.44%	23.69%	-13.32%
USD ProShares Ultra Semiconductors	116.46%	62.08%	139.64%	228.79%	-51.35%

Correlation

The correlation between SUPL and USD is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since Apr 8, 2022	0.51

Over the past year, the correlation between SUPL and USD has dropped to 0.27 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

SUPL vs. USD - Sectors Allocation Comparison

Sectors	SUPL	USD
Industrials	59.7%	-
Energy	4.6%	0.0%
Healthcare	3.4%	-
Utilities	3.3%	-
Technology	1.4%	27.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	27.8%
Real Estate	-	-

Return for Risk

SUPL vs. USD — Risk / Return Rank

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

SUPL

SUPL Risk / Return Rank: 53
SUPL Sharpe Ratio Rank: 52
SUPL Sortino Ratio Rank: 50
SUPL Omega Ratio Rank: 50
SUPL Calmar Ratio Rank: 59
SUPL Martin Ratio Rank: 55

USD

USD Risk / Return Rank: 92
USD Sharpe Ratio Rank: 97
USD Sortino Ratio Rank: 87
USD Omega Ratio Rank: 86
USD Calmar Ratio Rank: 96
USD Martin Ratio Rank: 95

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.

SUPL vs. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Supply Chain Logistics ETF (SUPL) and ProShares Ultra Semiconductors (USD). 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.

	SUPL	USD	Difference
Sharpe ratio Return per unit of total volatility	1.81	4.94	-3.13
Sortino ratio Return per unit of downside risk	2.48	3.98	-1.50
Omega ratio Gain probability vs. loss probability	1.32	1.54	-0.22
Calmar ratio Return relative to maximum drawdown	3.01	9.93	-6.92
Martin ratio Return relative to average drawdown	9.56	28.78	-19.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SUPL vs. USD - Sharpe Ratio Comparison

The current SUPL Sharpe Ratio is 1.81, which is lower than the USD Sharpe Ratio of 4.94. The chart below compares the historical Sharpe Ratios of SUPL and USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SUPL	USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	4.94	-3.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.94	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.49	-0.09

Drawdowns

SUPL vs. USD - Drawdown Comparison

The maximum SUPL drawdown since its inception was -24.42%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for SUPL and USD.

Drawdown Indicators

	SUPL	USD	Difference
Max Drawdown Largest peak-to-trough decline	-24.42%	-88.63%	+64.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-31.80%	+22.04%
Max Drawdown (3Y) Largest decline over 3 years	-21.71%	-64.46%	+42.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-77.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.85%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.97%	-32.36%	+26.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	10.97%	-7.90%

Volatility

SUPL vs. USD - Volatility Comparison

The current volatility for ProShares Supply Chain Logistics ETF (SUPL) is 6.12%, while ProShares Ultra Semiconductors (USD) has a volatility of 20.29%. This indicates that SUPL experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SUPL	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	20.29%	-14.17%
Volatility (6M) Calculated over the trailing 6-month period	12.81%	46.37%	-33.56%
Volatility (1Y) Calculated over the trailing 1-year period	16.09%	61.29%	-45.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.94%	76.56%	-57.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.94%	69.24%	-50.30%

SUPL vs. USD - Expense Ratio Comparison

SUPL has a 0.58% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

SUPL vs. USD - Dividend Comparison

SUPL's dividend yield for the trailing twelve months is around 2.65%, more than USD's 0.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SUPL ProShares Supply Chain Logistics ETF	2.65%	3.03%	4.78%	4.71%	3.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USD ProShares Ultra Semiconductors	0.21%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both SUPL and USD in my portfolio?

SUPL and USD have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SUPL or USD?

USD has higher volatility (20.29%) compared to SUPL (6.12%). In terms of maximum drawdown, SUPL dropped -24.42% vs USD's -88.63%.

Which ETF is better, SUPL or USD?

On 3-year performance, USD leads with 128.54% vs 11.82% for SUPL. On fees, SUPL is cheaper at 0.58% per year. On volatility, SUPL has been the lower-risk option at 6.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SUPL or USD?

Over the 3-year period, USD has performed better with a 128.54% return vs 11.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SUPL or USD?

SUPL is cheaper with a 0.58% expense ratio, compared with 0.95% for USD.

Which ETF pays a higher dividend yield, SUPL or USD?

SUPL has the higher dividend yield at 2.65%, compared with 0.21% for USD.

What is the main difference between SUPL and USD?

SUPL is categorized as Industrials Equities, while USD is Leveraged Equities. SUPL tracks FactSet Supply Chain Logistics Index - Benchmark TR Net, while USD tracks Dow Jones U.S. Semiconductors Index (200%). Their fees differ too: 0.58% for SUPL and 0.95% for USD.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (4.94 vs 1.81), 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.