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SZK vs. CDC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SZK vs. CDC

Last updated Jun 3, 2026

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 -16.07%/yr vs 10.09%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Consumer Goods (SZK) and VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SZK achieves a -9.91% return, which is significantly lower than CDC's 11.20% return. Over the past 10 years, SZK has underperformed CDC with an annualized return of -16.07%, while CDC has yielded a comparatively higher 10.09% annualized return.

SZK

1D
0.25%
1M
6.20%
YTD
-9.91%
6M
-7.73%
1Y
3.38%
3Y*
-4.29%
5Y*
-3.68%
10Y*
-16.07%

CDC

1D
0.58%
1M
-0.84%
YTD
11.20%
6M
11.54%
1Y
19.16%
3Y*
12.19%
5Y*
5.25%
10Y*
10.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SZK vs. CDC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SZK
ProShares UltraShort Consumer Goods		-9.91%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		11.20%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 -0.65, 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

-0.65

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 3, 2014

-0.57

The correlation between SZK and CDC has been stable across timeframes, ranging from -0.65 to -0.57 - a consistent structural relationship.

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ProShares UltraShort Consumer Goods

VictoryShares US EQ Income Enhanced Volatility Wtd ETF

Often compared with SZK:
SZK vs. SSGSZK vs. HIBSSZK vs. XLPSZK vs. SQQQSZK vs. UUPSZK vs. TZASZK vs. VOO
Often compared with CDC:
CDC vs. SCHDCDC vs. FNDBCDC vs. VSDACDC vs. VOOCDC vs. JEPICDC vs. DIACDC vs. JNK

Return for Risk

SZK vs. CDC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SZK
SZK Risk / Return Rank: 1010
Overall Rank
SZK Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
SZK Sortino Ratio Rank: 1111
Sortino Ratio Rank
SZK Omega Ratio Rank: 1010
Omega Ratio Rank
SZK Calmar Ratio Rank: 1010
Calmar Ratio Rank
SZK Martin Ratio Rank: 1010
Martin Ratio Rank
CDC
CDC Risk / Return Rank: 6161
Overall Rank
CDC Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
CDC Sortino Ratio Rank: 6262
Sortino Ratio Rank
CDC Omega Ratio Rank: 5454
Omega Ratio Rank
CDC Calmar Ratio Rank: 6868
Calmar Ratio Rank
CDC Martin Ratio Rank: 6565
Martin Ratio Rank
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.

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.

SZKCDCDifference

Sharpe ratio

Return per unit of total volatility

0.13

1.97

-1.84

Sortino ratio

Return per unit of downside risk

0.37

2.93

-2.56

Omega ratio

Gain probability vs. loss probability

1.04

1.34

-0.30

Calmar ratio

Return relative to maximum drawdown

0.11

3.44

-3.32

Martin ratio

Return relative to average drawdown

0.26

12.19

-11.94

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SZK vs. CDC - Sharpe Ratio Comparison

The current SZK Sharpe Ratio is 0.13, which is lower than the CDC Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of SZK and CDC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SZKCDCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.13

1.97

-1.84

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.12

0.42

-0.54

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.48

0.77

-1.25

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.58

0.75

-1.33

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

SZKCDCDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-99.24%

-1.65%

-97.59%

Average Drawdown

Average peak-to-trough decline

-81.99%

-5.10%

-76.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.83%

1.60%

+11.23%

Volatility

SZK vs. CDC - Volatility Comparison

ProShares UltraShort Consumer Goods (SZK) has a higher volatility of 8.22% compared to VictoryShares US EQ Income Enhanced Volatility Wtd ETF (CDC) at 2.80%. 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

SZKCDCDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.22%

2.80%

+5.42%

Volatility (6M)

Calculated over the trailing 6-month period

19.99%

6.90%

+13.09%

Volatility (1Y)

Calculated over the trailing 1-year period

25.18%

9.75%

+15.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

31.45%

12.54%

+18.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.61%

13.21%

+20.40%

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 2.63%, less than CDC's 3.16% yield.

PositionTTM20252024202320222021202020192018201720162015
CDC
VictoryShares US EQ Income Enhanced Volatility Wtd ETF		3.16%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		2.63%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 -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SZK has higher volatility (8.22%) compared to CDC (2.80%). In terms of maximum drawdown, SZK dropped -99.40% vs CDC's -21.37%.

On 10-year performance, CDC leads with 10.09% vs -16.07% for SZK. On fees, CDC is cheaper at 0.37% per year. On volatility, CDC has been the lower-risk option at 2.80%. 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 10.09% return vs -16.07%. 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 3.16%, compared with 2.63% 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 (1.97 vs 0.13), 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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