USD vs. EURUSD=X

Last updated Apr 3, 2026

Compare and contrast key facts about ProShares Ultra Semiconductors (USD) and EUR/USD (EURUSD=X).

USD is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Semiconductors Index (200%). It was launched on Jan 30, 2007.

Performance

USD vs. EURUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Semiconductors (USD) and EUR/USD (EURUSD=X). The values are adjusted to include any dividend payments, if applicable.

USD vs. EURUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USD ProShares Ultra Semiconductors	-3.87%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	81.72%
EURUSD=X EUR/USD	-1.77%	13.43%	-6.18%	3.16%	-6.01%	-6.81%	8.85%	-1.94%	-4.66%	14.14%

Returns By Period

In the year-to-date period, USD achieves a -3.87% return, which is significantly lower than EURUSD=X's -1.77% return. Over the past 10 years, USD has outperformed EURUSD=X with an annualized return of 50.94%, while EURUSD=X has yielded a comparatively lower 0.13% annualized return.

USD

• 1D: 1.08%
• 1M: -1.70%
• YTD: -3.87%
• 6M: -2.71%
• 1Y: 144.73%
• 3Y*: 92.19%
• 5Y*: 44.90%
• 10Y*: 50.94%

EURUSD=X

• 1D: -0.45%
• 1M: -0.64%
• YTD: -1.77%
• 6M: -1.52%
• 1Y: 6.35%
• 3Y*: 1.93%
• 5Y*: -0.38%
• 10Y*: 0.13%

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

Return for Risk

USD vs. EURUSD=X — Risk / Return Rank

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

USD

USD Risk / Return Rank: 88
USD Sharpe Ratio Rank: 87
USD Sortino Ratio Rank: 86
USD Omega Ratio Rank: 82
USD Calmar Ratio Rank: 95
USD Martin Ratio Rank: 89

EURUSD=X

EURUSD=X Risk / Return Rank: 61
EURUSD=X Sharpe Ratio Rank: 72
EURUSD=X Sortino Ratio Rank: 74
EURUSD=X Omega Ratio Rank: 71
EURUSD=X Calmar Ratio Rank: 45
EURUSD=X Martin Ratio Rank: 42

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.

USD vs. EURUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) and EUR/USD (EURUSD=X). 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.

	USD	EURUSD=X	Difference
Sharpe ratio Return per unit of total volatility	1.89	0.71	+1.17
Sortino ratio Return per unit of downside risk	2.43	1.17	+1.27
Omega ratio Gain probability vs. loss probability	1.34	1.14	+0.20
Calmar ratio Return relative to maximum drawdown	4.65	-0.07	+4.72
Martin ratio Return relative to average drawdown	12.68	-0.18	+12.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

USD vs. EURUSD=X - Sharpe Ratio Comparison

The current USD Sharpe Ratio is 1.89, which is higher than the EURUSD=X Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of USD and EURUSD=X, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	USD	EURUSD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	0.71	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	-0.05	+0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.02	+0.72
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	-0.07	+0.48

Correlation

The correlation between USD and EURUSD=X is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

USD vs. EURUSD=X - Drawdown Comparison

The maximum USD drawdown since its inception was -88.63%, which is greater than EURUSD=X's maximum drawdown of -40.01%. Use the drawdown chart below to compare losses from any high point for USD and EURUSD=X.

Drawdown Indicators

	USD	EURUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-40.01%	-48.62%
Max Drawdown (1Y) Largest decline over 1 year	-31.80%	-5.19%	-26.61%
Max Drawdown (5Y) Largest decline over 5 years	-77.85%	-21.68%	-56.17%
Max Drawdown (10Y) Largest decline over 10 years	-77.85%	-23.31%	-54.54%
Current Drawdown Current decline from peak	-20.39%	-27.85%	+7.46%
Average Drawdown Average peak-to-trough decline	-32.60%	-23.13%	-9.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.67%	2.04%	+9.63%

Volatility

USD vs. EURUSD=X - Volatility Comparison

ProShares Ultra Semiconductors (USD) has a higher volatility of 21.33% compared to EUR/USD (EURUSD=X) at 2.29%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier than EURUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USD	EURUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.33%	2.29%	+19.04%
Volatility (6M) Calculated over the trailing 6-month period	48.69%	4.20%	+44.49%
Volatility (1Y) Calculated over the trailing 1-year period	77.08%	7.18%	+69.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.21%	7.46%	+68.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.83%	7.21%	+61.62%