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SZK vs. VOO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SZK vs. VOO

Last updated Jun 3, 2026

SZK (ProShares UltraShort Consumer Goods) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - SZK is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (-200%), while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SZK returned -16.07%/yr vs 15.65%/yr for VOO. At a correlation of -0.59, they often move in opposite directions. SZK charges 0.95%/yr vs 0.03%/yr for VOO.

Performance

SZK vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Consumer Goods (SZK) and Vanguard S&P 500 ETF (VOO). 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 VOO's 11.69% return. Over the past 10 years, SZK has underperformed VOO with an annualized return of -16.07%, while VOO has yielded a comparatively higher 15.65% 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%

VOO

1D
0.14%
1M
5.39%
YTD
11.69%
6M
12.11%
1Y
29.68%
3Y*
22.73%
5Y*
14.26%
10Y*
15.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SZK vs. VOO - 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%
VOO
Vanguard S&P 500 ETF		11.69%17.82%24.98%26.32%-18.17%28.79%18.32%31.37%-4.50%21.77%

Correlation

The correlation between SZK and VOO is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.08

Correlation (3Y)
Calculated over the trailing 3-year period

-0.27

Correlation (5Y)
Calculated over the trailing 5-year period

-0.55

Correlation (10Y)
Calculated over the trailing 10-year period

-0.59

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2010

-0.59

Over the past year, the inverse relationship between SZK and VOO has weakened: their correlation has moved from -0.59 to -0.08, meaning they move in opposite directions less often than they have historically.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraShort Consumer Goods

Vanguard S&P 500 ETF

Often compared with SZK:
SZK vs. SSGSZK vs. HIBSSZK vs. XLPSZK vs. SQQQSZK vs. UUPSZK vs. TZASZK vs. QTAP
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV

Return for Risk

SZK vs. VOO — 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
VOO
VOO Risk / Return Rank: 7575
Overall Rank
VOO Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 7575
Sortino Ratio Rank
VOO Omega Ratio Rank: 7676
Omega Ratio Rank
VOO Calmar Ratio Rank: 6868
Calmar Ratio Rank
VOO Martin Ratio Rank: 8080
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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) and Vanguard S&P 500 ETF (VOO). 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.

SZKVOODifference

Sharpe ratio

Return per unit of total volatility

0.13

2.53

-2.40

Sortino ratio

Return per unit of downside risk

0.37

3.43

-3.07

Omega ratio

Gain probability vs. loss probability

1.04

1.46

-0.42

Calmar ratio

Return relative to maximum drawdown

0.11

3.42

-3.31

Martin ratio

Return relative to average drawdown

0.26

15.95

-15.69

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. VOO - Sharpe Ratio Comparison

The current SZK Sharpe Ratio is 0.13, which is lower than the VOO Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of SZK and VOO, 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

SZKVOODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.13

2.53

-2.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.12

0.85

-0.97

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.48

0.87

-1.35

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.58

0.89

-1.48

Drawdowns

SZK vs. VOO - Drawdown Comparison

The maximum SZK drawdown since its inception was -99.40%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SZK and VOO.

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Drawdown Indicators

SZKVOODifference

Max Drawdown

Largest peak-to-trough decline

-99.40%

-33.99%

-65.41%

Max Drawdown (1Y)

Largest decline over 1 year

-29.26%

-8.90%

-20.36%

Max Drawdown (3Y)

Largest decline over 3 years

-41.81%

-18.69%

-23.12%

Max Drawdown (5Y)

Largest decline over 5 years

-41.81%

-24.52%

-17.29%

Max Drawdown (10Y)

Largest decline over 10 years

-86.78%

-33.99%

-52.79%

Current Drawdown

Current decline from peak

-99.24%

0.00%

-99.24%

Average Drawdown

Average peak-to-trough decline

-81.99%

-3.69%

-78.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.83%

1.91%

+10.92%

Volatility

SZK vs. VOO - Volatility Comparison

ProShares UltraShort Consumer Goods (SZK) has a higher volatility of 8.22% compared to Vanguard S&P 500 ETF (VOO) at 2.74%. This indicates that SZK's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SZKVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.22%

2.74%

+5.48%

Volatility (6M)

Calculated over the trailing 6-month period

19.99%

8.88%

+11.11%

Volatility (1Y)

Calculated over the trailing 1-year period

25.18%

11.78%

+13.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

31.45%

16.81%

+14.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.61%

18.01%

+15.60%

SZK vs. VOO - Expense Ratio Comparison

SZK has a 0.95% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

SZK vs. VOO - Dividend Comparison

SZK's dividend yield for the trailing twelve months is around 2.63%, more than VOO's 1.02% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VOO
Vanguard S&P 500 ETF		1.02%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Frequently Asked Questions

SZK and VOO have a correlation of -0.08, 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 VOO (2.74%). In terms of maximum drawdown, SZK dropped -99.40% vs VOO's -33.99%.

On 10-year performance, VOO leads with 15.65% vs -16.07% for SZK. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 2.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VOO has performed better with a 15.65% return vs -16.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOO is cheaper with a 0.03% expense ratio, compared with 0.95% for SZK.

SZK has the higher dividend yield at 2.63%, compared with 1.02% for VOO.

SZK is categorized as Leveraged Equities, while VOO is S&P 500. SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while VOO tracks S&P 500 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for SZK and 0.03% for VOO.

VOO currently has the higher Sharpe Ratio (2.53 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.

Portfolio Optimizer

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