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SZK vs. TZA
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between SZK and TZA is -0.85. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


-0.50.00.51.0
Correlation: -0.9

Performance

SZK vs. TZA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Consumer Goods (SZK) and Direxion Daily Small Cap Bear 3X Shares (TZA). The values are adjusted to include any dividend payments, if applicable.

-100.00%-99.80%-99.60%-99.40%-99.20%-99.00%-98.80%NovemberDecember2025FebruaryMarchApril
-98.87%
-100.00%
SZK
TZA

Key characteristics

Sharpe Ratio

SZK:

-0.45

TZA:

-0.23

Sortino Ratio

SZK:

-0.50

TZA:

0.16

Omega Ratio

SZK:

0.94

TZA:

1.02

Calmar Ratio

SZK:

-0.12

TZA:

-0.17

Martin Ratio

SZK:

-1.15

TZA:

-0.57

Ulcer Index

SZK:

10.38%

TZA:

29.82%

Daily Std Dev

SZK:

26.27%

TZA:

72.23%

Max Drawdown

SZK:

-99.40%

TZA:

-100.00%

Current Drawdown

SZK:

-99.24%

TZA:

-100.00%

Returns By Period

In the year-to-date period, SZK achieves a -6.78% return, which is significantly lower than TZA's 30.51% return. Over the past 10 years, SZK has outperformed TZA with an annualized return of -20.04%, while TZA has yielded a comparatively lower -35.98% annualized return.


SZK

YTD

-6.78%

1M

-6.63%

6M

1.19%

1Y

-9.86%

5Y*

-21.38%

10Y*

-20.04%

TZA

YTD

30.51%

1M

10.40%

6M

24.10%

1Y

-13.61%

5Y*

-44.19%

10Y*

-35.98%

*Annualized

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SZK vs. TZA - Expense Ratio Comparison

SZK has a 0.95% expense ratio, which is lower than TZA's 1.11% expense ratio.


Expense ratio chart for TZA: current value is 1.11%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
TZA: 1.11%
Expense ratio chart for SZK: current value is 0.95%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SZK: 0.95%

Risk-Adjusted Performance

SZK vs. TZA — Risk-Adjusted Performance Rank

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

SZK
The Risk-Adjusted Performance Rank of SZK is 77
Overall Rank
The Sharpe Ratio Rank of SZK is 66
Sharpe Ratio Rank
The Sortino Ratio Rank of SZK is 66
Sortino Ratio Rank
The Omega Ratio Rank of SZK is 77
Omega Ratio Rank
The Calmar Ratio Rank of SZK is 1414
Calmar Ratio Rank
The Martin Ratio Rank of SZK is 55
Martin Ratio Rank

TZA
The Risk-Adjusted Performance Rank of TZA is 1717
Overall Rank
The Sharpe Ratio Rank of TZA is 1111
Sharpe Ratio Rank
The Sortino Ratio Rank of TZA is 2424
Sortino Ratio Rank
The Omega Ratio Rank of TZA is 2424
Omega Ratio Rank
The Calmar Ratio Rank of TZA is 1212
Calmar Ratio Rank
The Martin Ratio Rank of TZA is 1212
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

SZK vs. TZA - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) and Direxion Daily Small Cap Bear 3X Shares (TZA). 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.


The chart of Sharpe ratio for SZK, currently valued at -0.45, compared to the broader market-1.000.001.002.003.004.00
SZK: -0.45
TZA: -0.23
The chart of Sortino ratio for SZK, currently valued at -0.50, compared to the broader market-2.000.002.004.006.008.00
SZK: -0.50
TZA: 0.16
The chart of Omega ratio for SZK, currently valued at 0.94, compared to the broader market0.501.001.502.002.50
SZK: 0.94
TZA: 1.02
The chart of Calmar ratio for SZK, currently valued at -0.12, compared to the broader market0.002.004.006.008.0010.0012.00
SZK: -0.12
TZA: -0.17
The chart of Martin ratio for SZK, currently valued at -1.15, compared to the broader market0.0020.0040.0060.00
SZK: -1.15
TZA: -0.57

The current SZK Sharpe Ratio is -0.45, which is lower than the TZA Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of SZK and TZA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.00-0.500.000.50NovemberDecember2025FebruaryMarchApril
-0.45
-0.23
SZK
TZA

Dividends

SZK vs. TZA - Dividend Comparison

SZK's dividend yield for the trailing twelve months is around 5.57%, more than TZA's 4.21% yield.


TTM2024202320222021202020192018
SZK
ProShares UltraShort Consumer Goods
5.57%5.70%4.03%0.56%0.00%0.18%1.69%0.50%
TZA
Direxion Daily Small Cap Bear 3X Shares
4.21%5.40%5.49%0.00%0.00%1.21%1.57%0.63%

Drawdowns

SZK vs. TZA - Drawdown Comparison

The maximum SZK drawdown since its inception was -99.40%, roughly equal to the maximum TZA drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SZK and TZA. For additional features, visit the drawdowns tool.


-100.00%-99.80%-99.60%-99.40%-99.20%NovemberDecember2025FebruaryMarchApril
-99.24%
-100.00%
SZK
TZA

Volatility

SZK vs. TZA - Volatility Comparison

The current volatility for ProShares UltraShort Consumer Goods (SZK) is 15.54%, while Direxion Daily Small Cap Bear 3X Shares (TZA) has a volatility of 43.88%. This indicates that SZK experiences smaller price fluctuations and is considered to be less risky than TZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%10.00%20.00%30.00%40.00%NovemberDecember2025FebruaryMarchApril
15.54%
43.88%
SZK
TZA