SZK vs. HDV
SZK (ProShares UltraShort Consumer Goods) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - SZK is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (-200%), while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 10 years, SZK returned -16.29%/yr vs 9.66%/yr for HDV. Their -0.59 correlation means they have often moved in opposite directions in the past. SZK charges 0.95%/yr vs 0.08%/yr for HDV.
Performance
SZK vs. HDV - Performance Comparison
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Returns By Period
In the year-to-date period, SZK achieves a -17.72% return, which is significantly lower than HDV's 20.03% return. Over the past 10 years, SZK has underperformed HDV with an annualized return of -16.29%, while HDV has yielded a comparatively higher 9.66% annualized return.
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%
HDV
- 1D
- 0.03%
- 1M
- 2.79%
- 6M
- 10.43%
- YTD
- 20.03%
- 1Y
- 25.63%
- 3Y*
- 15.43%
- 5Y*
- 12.05%
- 10Y*
- 9.66%
- ALL TIME*
- 10.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $196.84M | $160.55M | $106.56M | |
| $85.70K | $65.45K | $43.62K |
SZK vs. HDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
HDV iShares Core High Dividend ETF | 20.03% | 11.90% | 14.16% | 1.72% | 7.05% | 19.45% | -6.48% | 20.22% | -3.01% | 13.40% |
Correlation
The correlation between SZK and HDV is -0.69, 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. | -0.69 |
Correlation (3Y) Balances recent behavior with more history. | -0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.64 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.62 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011 | -0.59 |
The correlation between SZK and HDV has been stable across timeframes, ranging from -0.69 to -0.59 - a consistent structural relationship.
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Return for Risk
SZK vs. HDV — Risk / Return Rank
SZK
HDV
SZK vs. HDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) and iShares Core High Dividend ETF (HDV). 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 | HDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.84 | ||
| Sortino ratioReturn per unit of downside risk | -4.05 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.42 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 4.98 | -5.41 |
| Martin ratioReturn relative to average drawdown | -0.83 | 13.63 | -14.46 |
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Drawdowns
SZK vs. HDV - Drawdown Comparison
The maximum SZK drawdown since its inception was -99.40%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for SZK and HDV.
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Drawdown Indicators
| SZK | HDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -37.04% | -62.36% |
Max Drawdown (1Y)Largest decline over 1 year | -29.26% | -5.18% | -24.08% |
Max Drawdown (3Y)Largest decline over 3 years | -41.81% | -10.49% | -31.32% |
Max Drawdown (5Y)Largest decline over 5 years | -41.81% | -15.42% | -26.39% |
Max Drawdown (10Y)Largest decline over 10 years | -86.78% | -37.04% | -49.74% |
Current DrawdownCurrent decline from peak | -99.30% | -1.41% | -97.89% |
Average DrawdownAverage peak-to-trough decline | -82.12% | -3.06% | -79.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.23% | 1.89% | +13.34% |
Volatility
SZK vs. HDV - Volatility Comparison
ProShares UltraShort Consumer Goods (SZK) has a higher volatility of 12.54% compared to iShares Core High Dividend ETF (HDV) at 4.98%. This indicates that SZK's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SZK | HDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.54% | 4.98% | +7.56% |
Volatility (6M)Calculated over the trailing 6-month period | 23.42% | 8.72% | +14.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.28% | 10.85% | +17.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.97% | 12.95% | +19.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.77% | 15.78% | +17.99% |
SZK vs. HDV - Expense Ratio Comparison
SZK has a 0.95% expense ratio, which is higher than HDV's 0.08% expense ratio.
Dividends
SZK vs. HDV - Dividend Comparison
SZK's dividend yield for the trailing twelve months is around 2.79%, less than HDV's 3.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDV iShares Core High Dividend ETF | 3.07% | 3.22% | 3.67% | 3.82% | 3.56% | 3.47% | 4.07% | 3.27% | 3.67% | 3.27% | 3.28% | 3.92% |
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 HDV have a correlation of -0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SZK has higher volatility (12.54%) compared to HDV (4.98%). In terms of maximum drawdown, SZK dropped -99.40% vs HDV's -37.04%.
On 10-year performance, HDV leads with 9.66% vs -16.29% for SZK. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HDV has performed better with a 9.66% return vs -16.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HDV is cheaper with a 0.08% expense ratio, compared with 0.95% for SZK.
HDV has the higher dividend yield at 3.07%, compared with 2.79% for SZK.
SZK is categorized as Leveraged Equities, while HDV is Dividend. SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for SZK and 0.08% for HDV.
HDV currently has the higher Sharpe Ratio (2.39 vs -0.45), 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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