SZK vs. USD
SZK (ProShares UltraShort Consumer Goods) and USD (ProShares Ultra Semiconductors) are both Leveraged Equities funds from ProShares - SZK tracks the Dow Jones U.S. Consumer Goods Index (-200%) while USD tracks the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, SZK returned -15.51%/yr vs 56.23%/yr for USD. At a correlation of -0.43, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
SZK vs. USD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SZK achieves a -14.00% return, which is significantly lower than USD's 63.25% return. Over the past 10 years, SZK has underperformed USD with an annualized return of -15.51%, while USD has yielded a comparatively higher 56.23% annualized return.
SZK
- 1D
- 0.41%
- 1M
- 4.03%
- 6M
- -3.40%
- YTD
- -14.00%
- 1Y
- -7.29%
- 3Y*
- -5.15%
- 5Y*
- -3.86%
- 10Y*
- -15.51%
USD
- 1D
- -7.37%
- 1M
- -12.52%
- 6M
- 51.62%
- YTD
- 63.25%
- 1Y
- 108.17%
- 3Y*
- 94.08%
- 5Y*
- 61.69%
- 10Y*
- 56.23%
SZK vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | -14.00% | 3.37% | -11.33% | -3.10% | 47.20% | -37.78% | -58.24% | -39.43% | 33.62% | -27.22% |
USD ProShares Ultra Semiconductors | 63.25% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between SZK and USD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.43 |
The correlation between SZK and USD shifts across timeframes, from -0.43 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SZK vs. USD — Risk / Return Rank
SZK
USD
SZK vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) and ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.20 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.26 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 3.42 | -3.67 |
| Martin ratioReturn relative to average drawdown | -0.51 | 8.81 | -9.32 |
Loading charts...
Drawdowns
SZK vs. USD - Drawdown Comparison
The maximum SZK drawdown since its inception was -99.40%, which is greater than USD's maximum drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for SZK and USD.
Loading charts...
Drawdown Indicators
| SZK | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -88.63% | -10.77% |
Max Drawdown (1Y)Largest decline over 1 year | -29.26% | -31.80% | +2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -41.81% | -64.46% | +22.65% |
Max Drawdown (5Y)Largest decline over 5 years | -41.81% | -77.85% | +36.04% |
Max Drawdown (10Y)Largest decline over 10 years | -86.78% | -77.85% | -8.93% |
Current DrawdownCurrent decline from peak | -99.27% | -24.58% | -74.69% |
Average DrawdownAverage peak-to-trough decline | -82.07% | -32.25% | -49.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.44% | 12.32% | +2.12% |
Volatility
SZK vs. USD - Volatility Comparison
The current volatility for ProShares UltraShort Consumer Goods (SZK) is 10.31%, while ProShares Ultra Semiconductors (USD) has a volatility of 30.75%. This indicates that SZK experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SZK | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 30.75% | -20.44% |
Volatility (6M)Calculated over the trailing 6-month period | 21.75% | 58.47% | -36.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.87% | 71.05% | -44.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.75% | 78.28% | -46.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.64% | 70.10% | -36.46% |
SZK vs. USD - Expense Ratio Comparison
Both SZK and USD have an expense ratio of 0.95%.
Dividends
SZK vs. USD - Dividend Comparison
SZK's dividend yield for the trailing twelve months is around 2.67%, more than USD's 0.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | 2.67% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.35% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
SZK and USD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (30.75%) compared to SZK (10.31%). In terms of maximum drawdown, SZK dropped -99.40% vs USD's -88.63%.
On 10-year performance, USD leads with 56.23% vs -15.51% for SZK. Both ETFs have the same 0.95% expense ratio. On volatility, SZK has been the lower-risk option at 10.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USD has performed better with a 56.23% return vs -15.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SZK and USD have the same expense ratio: 0.95% per year.
SZK has the higher dividend yield at 2.67%, compared with 0.35% for USD.
SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while USD tracks Dow Jones U.S. Semiconductors Index (200%).
USD currently has the higher Sharpe Ratio (1.53 vs -0.27), 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.
Find the right allocation for SZK and USD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer