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 -15.77%/yr vs 9.07%/yr for HDV. At a correlation of -0.59, they often move in opposite directions. 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 -16.60% return, which is significantly lower than HDV's 16.32% return. Over the past 10 years, SZK has underperformed HDV with an annualized return of -15.77%, while HDV has yielded a comparatively higher 9.07% annualized return.
SZK
- 1D
- -1.30%
- 1M
- 1.27%
- 6M
- -10.85%
- YTD
- -16.60%
- 1Y
- -8.66%
- 3Y*
- -6.11%
- 5Y*
- -4.27%
- 10Y*
- -15.77%
HDV
- 1D
- 0.83%
- 1M
- 0.89%
- 6M
- 14.11%
- YTD
- 16.32%
- 1Y
- 20.23%
- 3Y*
- 15.49%
- 5Y*
- 11.37%
- 10Y*
- 9.07%
SZK vs. HDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | -16.60% | 3.37% | -11.33% | -3.10% | 47.20% | -37.78% | -58.24% | -39.43% | 33.62% | -27.22% |
HDV iShares Core High Dividend ETF | 16.32% | 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 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 | -0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.62 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011 | -0.59 |
The correlation between SZK and HDV shifts across timeframes, from -0.69 (1 year) to -0.59 (all time), reflecting how their relationship changes across market environments.
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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 | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -3.18 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.33 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 3.92 | -4.22 |
| Martin ratioReturn relative to average drawdown | -0.60 | 10.74 | -11.34 |
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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% | -0.57% | -98.73% |
Average DrawdownAverage peak-to-trough decline | -82.07% | -3.07% | -79.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.35% | 1.89% | +12.46% |
Volatility
SZK vs. HDV - Volatility Comparison
ProShares UltraShort Consumer Goods (SZK) has a higher volatility of 10.01% compared to iShares Core High Dividend ETF (HDV) at 4.56%. 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 | 10.01% | 4.56% | +5.45% |
Volatility (6M)Calculated over the trailing 6-month period | 21.77% | 8.27% | +13.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.78% | 10.46% | +16.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.73% | 12.89% | +18.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.64% | 15.75% | +17.89% |
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 2.75%, less than HDV's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDV iShares Core High Dividend ETF | 2.84% | 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 | 2.75% | 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 (10.01%) compared to HDV (4.56%). In terms of maximum drawdown, SZK dropped -99.40% vs HDV's -37.04%.
On 10-year performance, HDV leads with 9.07% vs -15.77% for SZK. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.56%. 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 9.07% return vs -15.77%. 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 2.84%, compared with 2.75% 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 (1.95 vs -0.33), 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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