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USD vs. HDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

USD vs. HDV

Last updated Jun 25, 2026

USD (ProShares Ultra Semiconductors) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%), while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 10 years, USD returned 60.90%/yr vs 9.44%/yr for HDV. At a 0.42 correlation, their price movements are largely independent. USD charges 0.95%/yr vs 0.08%/yr for HDV.

Performance

USD vs. HDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Semiconductors (USD) and iShares Core High Dividend ETF (HDV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, USD achieves a 83.22% return, which is significantly higher than HDV's 13.95% return. Over the past 10 years, USD has outperformed HDV with an annualized return of 60.90%, while HDV has yielded a comparatively lower 9.44% annualized return.

USD

1D
-0.77%
1M
0.95%
YTD
83.22%
6M
78.17%
1Y
185.84%
3Y*
113.73%
5Y*
63.17%
10Y*
60.90%

HDV

1D
-0.11%
1M
-1.46%
YTD
13.95%
6M
13.56%
1Y
20.98%
3Y*
15.44%
5Y*
10.95%
10Y*
9.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD vs. HDV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD
ProShares Ultra Semiconductors		83.22%62.08%139.64%228.79%-68.57%104.27%68.16%110.37%-26.88%81.72%
HDV
iShares Core High Dividend ETF		13.95%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-3.01%13.40%

Correlation

The correlation between USD and HDV is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.22

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

-0.04

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

0.19

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

0.33

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2011

0.42

The correlation between USD and HDV shifts across timeframes, from -0.22 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.

USD vs. HDV - Sectors Allocation Comparison

Sectors
USD
HDV

Technology

26.3%
0.2%

Financial Services

26.0%
4.7%

Energy

0.0%
20.2%

Basic Materials

-

0.8%

Communication Services

-

5.7%

Consumer Cyclical

-

9.2%

Consumer Defensive

-

24.5%

Healthcare

-

22.6%

Industrials

-

3.5%

Real Estate

-

-

Utilities

-

8.1%

Technology

USD
26.3%
HDV
0.2%

Financial Services

USD
26.0%
HDV
4.7%

Energy

USD
0.0%
HDV
20.2%

Basic Materials

USD

-

HDV
0.8%

Communication Services

USD

-

HDV
5.7%

Consumer Cyclical

USD

-

HDV
9.2%

Consumer Defensive

USD

-

HDV
24.5%

Healthcare

USD

-

HDV
22.6%

Industrials

USD

-

HDV
3.5%

Real Estate

USD

-

HDV

-

Utilities

USD

-

HDV
8.1%

Compare stocks, funds, or ETFs

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ProShares Ultra Semiconductors

iShares Core High Dividend ETF

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Return for Risk

USD vs. HDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USD
USD Risk / Return Rank: 8282
Overall Rank
USD Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
USD Sortino Ratio Rank: 6868
Sortino Ratio Rank
USD Omega Ratio Rank: 7272
Omega Ratio Rank
USD Calmar Ratio Rank: 9393
Calmar Ratio Rank
USD Martin Ratio Rank: 8686
Martin Ratio Rank
HDV
HDV Risk / Return Rank: 7474
Overall Rank
HDV Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 7878
Sortino Ratio Rank
HDV Omega Ratio Rank: 6868
Omega Ratio Rank
HDV Calmar Ratio Rank: 8383
Calmar Ratio Rank
HDV Martin Ratio Rank: 6868
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.

USD vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) and iShares Core High Dividend ETF (HDV). 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.

USDHDVDifference
Sharpe ratioReturn per unit of total volatility
2.76
2.12

+0.64

Sortino ratioReturn per unit of downside risk
2.78
3.11

-0.34

Omega ratioGain probability vs. loss probability

1.38

1.36

+0.02

Calmar ratioReturn relative to maximum drawdown

5.88

4.07

+1.81

Martin ratioReturn relative to average drawdown

16.26

11.13

+5.12

USD vs. HDV - Sharpe Ratio Comparison

The current USD Sharpe Ratio is 2.76, which is higher than the HDV Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of USD and HDV, 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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Drawdowns

USD vs. HDV - Drawdown Comparison

The maximum USD drawdown since its inception was -88.63%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for USD and HDV.

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Drawdown Indicators

USDHDVDifference

Max Drawdown

Largest peak-to-trough decline

-88.63%

-37.04%

-51.59%

Max Drawdown (1Y)

Largest decline over 1 year

-31.80%

-5.18%

-26.62%

Max Drawdown (3Y)

Largest decline over 3 years

-64.46%

-10.49%

-53.97%

Max Drawdown (5Y)

Largest decline over 5 years

-77.85%

-15.42%

-62.43%

Max Drawdown (10Y)

Largest decline over 10 years

-77.85%

-37.04%

-40.81%

Current Drawdown

Current decline from peak

-15.35%

-1.46%

-13.89%

Average Drawdown

Average peak-to-trough decline

-32.29%

-3.08%

-29.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.48%

1.89%

+9.59%

Volatility

USD vs. HDV - Volatility Comparison

ProShares Ultra Semiconductors (USD) has a higher volatility of 34.08% compared to iShares Core High Dividend ETF (HDV) at 3.45%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

USDHDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

34.08%

3.45%

+30.63%

Volatility (6M)

Calculated over the trailing 6-month period

53.79%

7.60%

+46.19%

Volatility (1Y)

Calculated over the trailing 1-year period

67.97%

9.93%

+58.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

77.72%

12.81%

+64.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

69.82%

15.73%

+54.09%

USD vs. HDV - Expense Ratio Comparison

USD has a 0.95% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

USD vs. HDV - Dividend Comparison

USD's dividend yield for the trailing twelve months is around 0.25%, less than HDV's 2.90% yield.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		2.90%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
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

USD and HDV have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USD has higher volatility (34.08%) compared to HDV (3.45%). In terms of maximum drawdown, USD dropped -88.63% vs HDV's -37.04%.

On 10-year performance, USD leads with 60.90% vs 9.44% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.45%. 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 60.90% return vs 9.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.95% for USD.

HDV has the higher dividend yield at 2.90%, compared with 0.25% for USD.

USD is categorized as Leveraged Equities, while HDV is Dividend. USD tracks Dow Jones U.S. Semiconductors Index (200%), while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for USD and 0.08% for HDV.

USD currently has the higher Sharpe Ratio (2.76 vs 2.12), 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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