SZK vs. CDC
SZK (ProShares UltraShort Consumer Goods) and CDC (VictoryShares US EQ Income Enhanced Volatility Wtd ETF) are both exchange-traded funds - SZK is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (-200%), while CDC is a Large Cap Value Equities fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index. Both are passively managed. Over the past 10 years, SZK returned -16.68%/yr vs 10.51%/yr for CDC. At a correlation of -0.57, they often move in opposite directions. SZK charges 0.95%/yr vs 0.37%/yr for CDC.
Performance
SZK vs. CDC - Performance Comparison
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Returns By Period
In the year-to-date period, SZK achieves a -15.03% return, which is significantly lower than CDC's 13.97% return. Over the past 10 years, SZK has underperformed CDC with an annualized return of -16.68%, while CDC has yielded a comparatively higher 10.51% annualized return.
SZK
- 1D
- -3.58%
- 1M
- 1.29%
- YTD
- -15.03%
- 6M
- -14.75%
- 1Y
- -5.00%
- 3Y*
- -5.75%
- 5Y*
- -4.45%
- 10Y*
- -16.68%
CDC
- 1D
- 1.02%
- 1M
- 0.81%
- YTD
- 13.97%
- 6M
- 13.78%
- 1Y
- 21.05%
- 3Y*
- 12.98%
- 5Y*
- 6.51%
- 10Y*
- 10.51%
SZK vs. CDC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | -15.03% | 3.37% | -11.33% | -3.10% | 47.20% | -37.78% | -58.24% | -39.43% | 33.62% | -27.22% |
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF | 13.97% | 8.96% | 14.48% | -4.99% | -7.86% | 33.05% | 12.88% | 19.64% | -5.97% | 15.77% |
Correlation
The correlation between SZK and CDC is -0.64, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.61 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2014 | -0.57 |
The correlation between SZK and CDC has been stable across timeframes, ranging from -0.64 to -0.57 - a consistent structural relationship.
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Return for Risk
SZK vs. CDC — Risk / Return Rank
SZK
CDC
SZK vs. CDC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) and VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC). 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.
| SZK | CDC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.31 | ||
| Sortino ratioReturn per unit of downside risk | -3.19 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.36 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 3.73 | -3.90 |
| Martin ratioReturn relative to average drawdown | -0.37 | 13.12 | -13.49 |
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Drawdowns
SZK vs. CDC - Drawdown Comparison
The maximum SZK drawdown since its inception was -99.40%, which is greater than CDC's maximum drawdown of -21.37%. Use the drawdown chart below to compare losses from any high point for SZK and CDC.
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Drawdown Indicators
| SZK | CDC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -21.37% | -78.03% |
Max Drawdown (1Y)Largest decline over 1 year | -29.26% | -5.67% | -23.59% |
Max Drawdown (3Y)Largest decline over 3 years | -41.81% | -12.70% | -29.11% |
Max Drawdown (5Y)Largest decline over 5 years | -41.81% | -21.37% | -20.44% |
Max Drawdown (10Y)Largest decline over 10 years | -86.78% | -21.37% | -65.41% |
Current DrawdownCurrent decline from peak | -99.28% | -0.49% | -98.79% |
Average DrawdownAverage peak-to-trough decline | -82.02% | -5.09% | -76.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.60% | 1.61% | +11.99% |
Volatility
SZK vs. CDC - Volatility Comparison
ProShares UltraShort Consumer Goods (SZK) has a higher volatility of 10.21% compared to VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) at 3.44%. This indicates that SZK's price experiences larger fluctuations and is considered to be riskier than CDC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SZK | CDC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.21% | 3.44% | +6.77% |
Volatility (6M)Calculated over the trailing 6-month period | 21.18% | 7.13% | +14.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.03% | 9.99% | +16.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.60% | 12.52% | +19.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.63% | 13.21% | +20.42% |
SZK vs. CDC - Expense Ratio Comparison
SZK has a 0.95% expense ratio, which is higher than CDC's 0.37% expense ratio.
Dividends
SZK vs. CDC - Dividend Comparison
SZK's dividend yield for the trailing twelve months is around 2.79%, less than CDC's 3.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF | 3.14% | 3.36% | 3.32% | 4.24% | 3.48% | 2.65% | 2.48% | 3.04% | 3.37% | 2.81% | 2.99% | 3.17% |
SZK ProShares UltraShort Consumer Goods | 2.79% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SZK and CDC have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SZK has higher volatility (10.21%) compared to CDC (3.44%). In terms of maximum drawdown, SZK dropped -99.40% vs CDC's -21.37%.
On 10-year performance, CDC leads with 10.51% vs -16.68% for SZK. On fees, CDC is cheaper at 0.37% per year. On volatility, CDC has been the lower-risk option at 3.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CDC has performed better with a 10.51% return vs -16.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDC is cheaper with a 0.37% expense ratio, compared with 0.95% for SZK.
CDC has the higher dividend yield at 3.14%, compared with 2.79% for SZK.
SZK is categorized as Leveraged Equities, while CDC is Large Cap Value Equities. SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while CDC tracks Nasdaq Victory U.S. Large Cap High Dividend 100 Long/Cash Volatility Weighted Index. They also come from different issuers: ProShares and Crestview. Their fees differ too: 0.95% for SZK and 0.37% for CDC.
CDC currently has the higher Sharpe Ratio (2.12 vs -0.19), 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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