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SZK vs. XLP
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SZK vs. XLP

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares UltraShort Consumer Goods (SZK) and State Street Consumer Staples Select Sector SPDR ETF (XLP).

SZK and XLP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SZK is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Consumer Goods Index (-200%). It was launched on Jan 30, 2007. XLP is a passively managed fund by State Street that tracks the performance of the S&P Consumer Staples Select Sector. It was launched on Dec 16, 1998. Both SZK and XLP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SZK vs. XLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Consumer Goods (SZK) and State Street Consumer Staples Select Sector SPDR ETF (XLP). The values are adjusted to include any dividend payments, if applicable.

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SZK vs. XLP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SZK
ProShares UltraShort Consumer Goods		-10.72%3.37%-11.33%-3.10%47.20%-37.78%-58.24%-39.43%33.62%-27.22%
XLP
State Street Consumer Staples Select Sector SPDR ETF		6.13%1.52%12.20%-0.82%-0.81%17.20%10.11%27.43%-8.07%12.98%

Returns By Period

In the year-to-date period, SZK achieves a -10.72% return, which is significantly lower than XLP's 6.13% return. Over the past 10 years, SZK has underperformed XLP with an annualized return of -16.30%, while XLP has yielded a comparatively higher 7.17% annualized return.

SZK

1D
-0.16%
1M
19.41%
YTD
-10.72%
6M
-8.65%
1Y
-0.37%
3Y*
-3.12%
5Y*
-4.80%
10Y*
-16.30%

XLP

1D
0.12%
1M
-8.41%
YTD
6.13%
6M
6.04%
1Y
3.16%
3Y*
5.99%
5Y*
6.59%
10Y*
7.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

State Street Consumer Staples Select Sector SPDR ETF

Often compared with SZK:
SZK vs. SSGSZK vs. HIBSSZK vs. SQQQSZK vs. UUPSZK vs. TZASZK vs. VOOSZK vs. AMDG
Often compared with XLP:
XLP vs. XLYXLP vs. VDCXLP vs. XLUXLP vs. SPYXLP vs. VOOXLP vs. XLFXLP vs. IYK

SZK vs. XLP - Expense Ratio Comparison

SZK has a 0.95% expense ratio, which is higher than XLP's 0.08% expense ratio.

SZK
ProShares UltraShort Consumer Goods
XLP
State Street Consumer Staples Select Sector SPDR ETF

Return for Risk

SZK vs. XLP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SZK
SZK Risk / Return Rank: 1111
Overall Rank
SZK Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
SZK Sortino Ratio Rank: 1212
Sortino Ratio Rank
SZK Omega Ratio Rank: 1212
Omega Ratio Rank
SZK Calmar Ratio Rank: 1010
Calmar Ratio Rank
SZK Martin Ratio Rank: 1010
Martin Ratio Rank
XLP
XLP Risk / Return Rank: 2020
Overall Rank
XLP Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
XLP Sortino Ratio Rank: 1818
Sortino Ratio Rank
XLP Omega Ratio Rank: 1717
Omega Ratio Rank
XLP Calmar Ratio Rank: 2525
Calmar Ratio Rank
XLP Martin Ratio Rank: 2222
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. XLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) and State Street Consumer Staples Select Sector SPDR ETF (XLP). 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.

SZKXLPDifference

Sharpe ratio

Return per unit of total volatility

-0.01

0.23

-0.24

Sortino ratio

Return per unit of downside risk

0.17

0.42

-0.25

Omega ratio

Gain probability vs. loss probability

1.02

1.05

-0.03

Calmar ratio

Return relative to maximum drawdown

-0.11

0.49

-0.61

Martin ratio

Return relative to average drawdown

-0.26

1.19

-1.44

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. XLP - Sharpe Ratio Comparison

The current SZK Sharpe Ratio is -0.01, which is lower than the XLP Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of SZK and XLP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

SZKXLPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.01

0.23

-0.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.15

0.50

-0.66

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.49

0.49

-0.98

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.59

0.44

-1.03

Correlation

The correlation between SZK and XLP is -0.73. 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.

Dividends

SZK vs. XLP - Dividend Comparison

SZK's dividend yield for the trailing twelve months is around 2.66%, which matches XLP's 2.65% yield.

TTM20252024202320222021202020192018201720162015
SZK
ProShares UltraShort Consumer Goods		2.66%2.90%5.70%4.03%0.56%0.00%0.19%1.70%0.50%0.00%0.00%0.00%
XLP
State Street Consumer Staples Select Sector SPDR ETF		2.65%2.75%2.77%2.63%2.47%2.28%2.50%2.57%3.04%2.62%2.53%2.52%

Drawdowns

SZK vs. XLP - Drawdown Comparison

The maximum SZK drawdown since its inception was -99.40%, which is greater than XLP's maximum drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for SZK and XLP.

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Drawdown Indicators

SZKXLPDifference

Max Drawdown

Largest peak-to-trough decline

-99.40%

-35.90%

-63.50%

Max Drawdown (1Y)

Largest decline over 1 year

-29.26%

-9.69%

-19.57%

Max Drawdown (5Y)

Largest decline over 5 years

-41.81%

-16.30%

-25.51%

Max Drawdown (10Y)

Largest decline over 10 years

-86.85%

-24.51%

-62.34%

Current Drawdown

Current decline from peak

-99.25%

-8.41%

-90.84%

Average Drawdown

Average peak-to-trough decline

-81.83%

-7.06%

-74.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.78%

4.03%

+8.75%

Volatility

SZK vs. XLP - Volatility Comparison

ProShares UltraShort Consumer Goods (SZK) has a higher volatility of 7.72% compared to State Street Consumer Staples Select Sector SPDR ETF (XLP) at 3.93%. This indicates that SZK's price experiences larger fluctuations and is considered to be riskier than XLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SZKXLPDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.72%

3.93%

+3.79%

Volatility (6M)

Calculated over the trailing 6-month period

18.65%

9.34%

+9.31%

Volatility (1Y)

Calculated over the trailing 1-year period

27.39%

13.90%

+13.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

31.33%

13.14%

+18.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.46%

14.69%

+18.77%