USD vs. JPM
USD (ProShares Ultra Semiconductors) is Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%), while JPM (JPMorgan Chase & Co.) is a stock. Over the past 10 years, USD returned 60.21%/yr vs 21.02%/yr for JPM. At a 0.47 correlation, their price movements are largely independent.
Performance
USD vs. JPM - Performance Comparison
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Returns By Period
In the year-to-date period, USD achieves a 86.87% return, which is significantly higher than JPM's 0.50% return. Over the past 10 years, USD has outperformed JPM with an annualized return of 60.21%, while JPM has yielded a comparatively lower 21.02% annualized return.
USD
- 1D
- 2.08%
- 1M
- -1.66%
- YTD
- 86.87%
- 6M
- 97.77%
- 1Y
- 207.86%
- 3Y*
- 111.11%
- 5Y*
- 65.02%
- 10Y*
- 60.21%
JPM
- 1D
- 2.31%
- 1M
- 6.82%
- YTD
- 0.50%
- 6M
- 1.66%
- 1Y
- 21.89%
- 3Y*
- 34.22%
- 5Y*
- 17.82%
- 10Y*
- 21.02%
USD vs. JPM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USD ProShares Ultra Semiconductors | 86.87% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
JPM JPMorgan Chase & Co. | 0.50% | 37.27% | 44.29% | 30.63% | -12.64% | 27.75% | -5.53% | 47.26% | -6.62% | 26.76% |
Correlation
The correlation between USD and JPM is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | 0.47 |
Over the past year, the correlation between USD and JPM has dropped to 0.26 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
USD vs. JPM — Risk / Return Rank
USD
JPM
USD vs. JPM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) and JPMorgan Chase & Co. (JPM). 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.
| USD | JPM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.18 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 6.58 | 1.42 | +5.16 |
| Martin ratioReturn relative to average drawdown | 18.43 | 3.36 | +15.07 |
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Drawdowns
USD vs. JPM - Drawdown Comparison
The maximum USD drawdown since its inception was -88.63%, which is greater than JPM's maximum drawdown of -76.16%. Use the drawdown chart below to compare losses from any high point for USD and JPM.
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Drawdown Indicators
| USD | JPM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.63% | -76.16% | -12.47% |
Max Drawdown (1Y)Largest decline over 1 year | -31.80% | -15.47% | -16.33% |
Max Drawdown (3Y)Largest decline over 3 years | -64.46% | -24.42% | -40.04% |
Max Drawdown (5Y)Largest decline over 5 years | -77.85% | -38.77% | -39.08% |
Max Drawdown (10Y)Largest decline over 10 years | -77.85% | -43.63% | -34.22% |
Current DrawdownCurrent decline from peak | -13.67% | -3.66% | -10.01% |
Average DrawdownAverage peak-to-trough decline | -32.32% | -17.62% | -14.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.34% | 6.54% | +4.80% |
Volatility
USD vs. JPM - Volatility Comparison
ProShares Ultra Semiconductors (USD) has a higher volatility of 29.56% compared to JPMorgan Chase & Co. (JPM) at 6.35%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier than JPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USD | JPM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.56% | 6.35% | +23.21% |
Volatility (6M)Calculated over the trailing 6-month period | 52.44% | 16.67% | +35.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.34% | 21.76% | +43.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.19% | 24.46% | +52.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.61% | 27.39% | +42.22% |
Dividends
USD vs. JPM - Dividend Comparison
USD's dividend yield for the trailing twelve months is around 0.25%, less than JPM's 1.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPM JPMorgan Chase & Co. | 1.84% | 1.72% | 1.92% | 2.38% | 2.98% | 2.34% | 2.83% | 2.37% | 2.54% | 1.91% | 2.13% | 2.54% |
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 JPM have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (29.56%) compared to JPM (6.35%). In terms of maximum drawdown, USD dropped -88.63% vs JPM's -76.16%.
USD currently has the higher Sharpe Ratio (3.20 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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