TMDV vs. REGL

Last updated Jun 23, 2026

TMDV (ProShares Russell U.S. Dividend Growers ETF) and REGL (ProShares S&P MidCap 400 Dividend Aristocrats ETF) are both Mid Cap Value Equities funds from ProShares - TMDV tracks the Russell 3000 Dividend Elite Index while REGL tracks the S&P MidCap 400 Dividend Aristocrats Index. Both are passively managed. Over the past 5 years, TMDV returned 3.77%/yr vs 7.47%/yr for REGL. Their correlation of 0.93 suggests significant overlap in exposure. TMDV charges 0.35%/yr vs 0.40%/yr for REGL.

Performance

TMDV vs. REGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Russell U.S. Dividend Growers ETF (TMDV) and ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TMDV having a 7.63% return and REGL slightly higher at 7.68%.

TMDV

• 1D: -0.12%
• 1M: 1.86%
• YTD: 7.63%
• 6M: 6.59%
• 1Y: 11.78%
• 3Y*: 5.99%
• 5Y*: 3.77%
• 10Y*: —

REGL

• 1D: 0.16%
• 1M: 1.42%
• YTD: 7.68%
• 6M: 5.73%
• 1Y: 14.91%
• 3Y*: 12.38%
• 5Y*: 7.47%
• 10Y*: 9.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TMDV vs. REGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TMDV ProShares Russell U.S. Dividend Growers ETF	7.63%	2.91%	2.64%	2.25%	-5.10%	23.45%	4.82%	2.63%
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	7.68%	6.89%	12.26%	5.41%	-0.62%	20.38%	7.50%	1.97%

Correlation

The correlation between TMDV and REGL is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019	0.93

The correlation between TMDV and REGL has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

TMDV vs. REGL - Sectors Allocation Comparison

Sectors	TMDV	REGL
Consumer Defensive	23.5%	2.8%
Financial Services	16.1%	31.0%
Industrials	16.0%	15.2%
Utilities	12.2%	13.7%
Basic Materials	12.2%	9.2%
Consumer Cyclical	5.5%	10.7%
Healthcare	5.4%	4.6%
Real Estate	4.8%	7.8%
Energy	2.8%	3.1%
Technology	1.6%	1.9%
Communication Services	-	-

Return for Risk

TMDV vs. REGL — Risk / Return Rank

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

TMDV

TMDV Risk / Return Rank: 26
TMDV Sharpe Ratio Rank: 28
TMDV Sortino Ratio Rank: 29
TMDV Omega Ratio Rank: 25
TMDV Calmar Ratio Rank: 26
TMDV Martin Ratio Rank: 23

REGL

REGL Risk / Return Rank: 32
REGL Sharpe Ratio Rank: 32
REGL Sortino Ratio Rank: 34
REGL Omega Ratio Rank: 30
REGL Calmar Ratio Rank: 32
REGL Martin Ratio Rank: 33

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.

TMDV vs. REGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Russell U.S. Dividend Growers ETF (TMDV) and ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL). 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.

	TMDV	REGL	Difference
Sharpe ratio: Return per unit of total volatility	0.97	1.13	-0.16
Sortino ratio: Return per unit of downside risk	1.51	1.74	-0.23
Omega ratio: Gain probability vs. loss probability	1.17	1.20	-0.03
Calmar ratio: Return relative to maximum drawdown	1.20	1.55	-0.34
Martin ratio: Return relative to average drawdown	2.91	4.81	-1.91

TMDV vs. REGL - Sharpe Ratio Comparison

The current TMDV Sharpe Ratio is 0.97, which is comparable to the REGL Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of TMDV and REGL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TMDV vs. REGL - Drawdown Comparison

The maximum TMDV drawdown since its inception was -33.42%, smaller than the maximum REGL drawdown of -36.37%. Use the drawdown chart below to compare losses from any high point for TMDV and REGL.

Drawdown Indicators

	TMDV	REGL	Difference
Max Drawdown Largest peak-to-trough decline	-33.42%	-36.37%	+2.95%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-9.67%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-16.02%	-16.96%	+0.94%
Max Drawdown (5Y) Largest decline over 5 years	-17.11%	-16.96%	-0.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.37%	—
Current Drawdown Current decline from peak	-3.79%	-2.46%	-1.33%
Average Drawdown Average peak-to-trough decline	-5.42%	-4.08%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.06%	3.10%	+0.96%

Volatility

TMDV vs. REGL - Volatility Comparison

The current volatility for ProShares Russell U.S. Dividend Growers ETF (TMDV) is 3.21%, while ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) has a volatility of 3.55%. This indicates that TMDV experiences smaller price fluctuations and is considered to be less risky than REGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMDV	REGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	3.55%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	8.62%	9.30%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	13.26%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	16.06%	-1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.60%	18.34%	+0.26%

TMDV vs. REGL - Expense Ratio Comparison

TMDV has a 0.35% expense ratio, which is lower than REGL's 0.40% expense ratio.

Dividends

TMDV vs. REGL - Dividend Comparison

TMDV's dividend yield for the trailing twelve months is around 2.55%, more than REGL's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF	2.16%	2.32%	2.28%	2.40%	2.32%	2.50%	2.41%	1.96%	2.09%	1.63%	1.20%	1.66%
TMDV ProShares Russell U.S. Dividend Growers ETF	2.55%	2.65%	2.70%	2.45%	2.46%	2.14%	2.28%	0.16%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMDV and REGL in my portfolio?

With a correlation of 0.90, TMDV and REGL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TMDV or REGL?

REGL has higher volatility (3.55%) compared to TMDV (3.21%). In terms of maximum drawdown, TMDV dropped -33.42% vs REGL's -36.37%.

Which ETF is better, TMDV or REGL?

On 5-year performance, REGL leads with 7.47% vs 3.77% for TMDV. On fees, TMDV is cheaper at 0.35% per year. On volatility, TMDV has been the lower-risk option at 3.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TMDV or REGL?

Over the 5-year period, REGL has performed better with a 7.47% return vs 3.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TMDV or REGL?

TMDV is cheaper with a 0.35% expense ratio, compared with 0.40% for REGL.

Which ETF pays a higher dividend yield, TMDV or REGL?

TMDV has the higher dividend yield at 2.55%, compared with 2.16% for REGL.

What is the main difference between TMDV and REGL?

TMDV tracks Russell 3000 Dividend Elite Index, while REGL tracks S&P MidCap 400 Dividend Aristocrats Index. Their fees differ too: 0.35% for TMDV and 0.40% for REGL.

Which has better risk-adjusted returns?

REGL currently has the higher Sharpe Ratio (1.13 vs 0.97), 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.