UJB vs. USD
UJB (ProShares Ultra High Yield) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - UJB is a Leveraged Bonds fund tracking the Markit iBoxx $ Liquid High Yield Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, UJB returned 5.51%/yr vs 61.02%/yr for USD. At a 0.36 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
UJB vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, UJB achieves a 1.07% return, which is significantly lower than USD's 84.65% return. Over the past 10 years, UJB has underperformed USD with an annualized return of 5.51%, while USD has yielded a comparatively higher 61.02% annualized return.
UJB
- 1D
- -0.12%
- 1M
- 0.61%
- YTD
- 1.07%
- 6M
- 1.41%
- 1Y
- 7.39%
- 3Y*
- 12.18%
- 5Y*
- 2.81%
- 10Y*
- 5.51%
USD
- 1D
- -12.35%
- 1M
- 1.73%
- YTD
- 84.65%
- 6M
- 79.76%
- 1Y
- 206.76%
- 3Y*
- 114.28%
- 5Y*
- 63.13%
- 10Y*
- 61.02%
UJB vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 1.07% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
USD ProShares Ultra Semiconductors | 84.65% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between UJB and USD is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2011 | 0.36 |
The correlation between UJB and USD shifts across timeframes, from 0.36 (all time) to 0.53 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
UJB vs. USD — Risk / Return Rank
UJB
USD
UJB vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra High Yield (UJB) 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.
| UJB | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.40 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 6.54 | -5.07 |
| Martin ratioReturn relative to average drawdown | 6.23 | 18.16 | -11.93 |
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Drawdowns
UJB vs. USD - Drawdown Comparison
The maximum UJB drawdown since its inception was -40.14%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for UJB and USD.
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Drawdown Indicators
| UJB | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.14% | -88.63% | +48.49% |
Max Drawdown (1Y)Largest decline over 1 year | -5.01% | -31.80% | +26.79% |
Max Drawdown (3Y)Largest decline over 3 years | -9.47% | -64.46% | +54.99% |
Max Drawdown (5Y)Largest decline over 5 years | -30.14% | -77.85% | +47.71% |
Max Drawdown (10Y)Largest decline over 10 years | -40.14% | -77.85% | +37.71% |
Current DrawdownCurrent decline from peak | -0.59% | -14.69% | +14.10% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -32.29% | +26.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 11.44% | -10.25% |
Volatility
UJB vs. USD - Volatility Comparison
The current volatility for ProShares Ultra High Yield (UJB) is 1.96%, while ProShares Ultra Semiconductors (USD) has a volatility of 34.07%. This indicates that UJB 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.
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Volatility by Period
| UJB | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 34.07% | -32.11% |
Volatility (6M)Calculated over the trailing 6-month period | 5.90% | 54.13% | -48.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.37% | 67.96% | -60.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 77.73% | -63.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 69.83% | -51.81% |
UJB vs. USD - Expense Ratio Comparison
Both UJB and USD have an expense ratio of 0.95%.
Dividends
UJB vs. USD - Dividend Comparison
UJB's dividend yield for the trailing twelve months is around 3.34%, more than USD's 0.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 3.34% | 2.61% | 3.02% | 3.92% | 0.05% | 0.63% | 2.88% | 3.95% | 3.22% | 2.67% | 2.35% | 3.62% |
USD ProShares Ultra Semiconductors | 0.25% | 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
UJB and USD have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (34.07%) compared to UJB (1.96%). In terms of maximum drawdown, UJB dropped -40.14% vs USD's -88.63%.
On 10-year performance, USD leads with 61.02% vs 5.51% for UJB. Both ETFs have the same 0.95% expense ratio. On volatility, UJB has been the lower-risk option at 1.96%. 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 61.02% return vs 5.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UJB and USD have the same expense ratio: 0.95% per year.
UJB has the higher dividend yield at 3.34%, compared with 0.25% for USD.
UJB is categorized as Leveraged Bonds, while USD is Leveraged Equities. UJB tracks Markit iBoxx $ Liquid High Yield Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%).
USD currently has the higher Sharpe Ratio (3.06 vs 1.01), 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.
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