USD vs. MSFT

Last updated Jun 4, 2026

USD (ProShares Ultra Semiconductors) is Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%), while MSFT (Microsoft Corporation) is a stock. Over the past 10 years, USD returned 62.16%/yr vs 25.03%/yr for MSFT. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

USD vs. MSFT - Performance Comparison

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

Returns By Period

In the year-to-date period, USD achieves a 114.00% return, which is significantly higher than MSFT's -11.24% return. Over the past 10 years, USD has outperformed MSFT with an annualized return of 62.16%, while MSFT has yielded a comparatively lower 25.03% annualized return.

USD

• 1D: -1.14%
• 1M: 44.53%
• YTD: 114.00%
• 6M: 111.06%
• 1Y: 274.62%
• 3Y*: 127.67%
• 5Y*: 69.52%
• 10Y*: 62.16%

MSFT

• 1D: -3.17%
• 1M: 3.54%
• YTD: -11.24%
• 6M: -10.15%
• 1Y: -6.96%
• 3Y*: 9.26%
• 5Y*: 12.17%
• 10Y*: 25.03%

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

USD vs. MSFT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USD ProShares Ultra Semiconductors	114.00%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	81.72%
MSFT Microsoft Corporation	-11.24%	15.58%	12.93%	58.19%	-28.02%	52.48%	42.53%	57.56%	20.80%	40.73%

Correlation

The correlation between USD and MSFT is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007	0.61

Over the past year, the correlation between USD and MSFT has dropped to 0.37 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

Return for Risk

USD vs. MSFT — Risk / Return Rank

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

USD

USD Risk / Return Rank: 90
USD Sharpe Ratio Rank: 97
USD Sortino Ratio Rank: 83
USD Omega Ratio Rank: 83
USD Calmar Ratio Rank: 95
USD Martin Ratio Rank: 93

MSFT

MSFT Risk / Return Rank: 29
MSFT Sharpe Ratio Rank: 29
MSFT Sortino Ratio Rank: 25
MSFT Omega Ratio Rank: 25
MSFT Calmar Ratio Rank: 33
MSFT 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.

USD vs. MSFT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) and Microsoft Corporation (MSFT). 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	MSFT	Difference
Sharpe ratio: Return per unit of total volatility	4.53	-0.28	+4.81
Sortino ratio: Return per unit of downside risk	3.81	-0.21	+4.02
Omega ratio: Gain probability vs. loss probability	1.51	0.97	+0.54
Calmar ratio: Return relative to maximum drawdown	8.70	-0.21	+8.90
Martin ratio: Return relative to average drawdown	25.16	-0.44	+25.60
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. MSFT - Sharpe Ratio Comparison

The current USD Sharpe Ratio is 4.53, which is higher than the MSFT Sharpe Ratio of -0.28. The chart below compares the historical Sharpe Ratios of USD and MSFT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	USD	MSFT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.53	-0.28	+4.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.46	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.93	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.75	-0.25

Drawdowns

USD vs. MSFT - Drawdown Comparison

The maximum USD drawdown since its inception was -88.63%, which is greater than MSFT's maximum drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for USD and MSFT.

Drawdown Indicators

	USD	MSFT	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-69.38%	-19.25%
Max Drawdown (1Y) Largest decline over 1 year	-31.80%	-33.91%	+2.11%
Max Drawdown (3Y) Largest decline over 3 years	-64.46%	-33.91%	-30.55%
Max Drawdown (5Y) Largest decline over 5 years	-77.85%	-37.15%	-40.70%
Max Drawdown (10Y) Largest decline over 10 years	-77.85%	-37.15%	-40.70%
Current Drawdown Current decline from peak	-1.14%	-20.67%	+19.53%
Average Drawdown Average peak-to-trough decline	-32.35%	-21.78%	-10.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.97%	15.95%	-4.98%

Volatility

USD vs. MSFT - Volatility Comparison

ProShares Ultra Semiconductors (USD) has a higher volatility of 20.36% compared to Microsoft Corporation (MSFT) at 9.95%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USD	MSFT	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.36%	9.95%	+10.41%
Volatility (6M) Calculated over the trailing 6-month period	46.39%	22.34%	+24.05%
Volatility (1Y) Calculated over the trailing 1-year period	61.22%	25.12%	+36.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.55%	26.63%	+49.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.23%	27.04%	+42.19%

Dividends

USD vs. MSFT - Dividend Comparison

USD's dividend yield for the trailing twelve months is around 0.21%, less than MSFT's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSFT Microsoft Corporation	0.83%	0.70%	0.73%	0.74%	1.06%	0.68%	0.94%	1.20%	1.69%	1.86%	2.37%	2.33%
USD ProShares Ultra Semiconductors	0.21%	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

Can I hold both USD and MSFT in my portfolio?

USD and MSFT have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USD or MSFT?

USD has higher volatility (20.36%) compared to MSFT (9.95%). In terms of maximum drawdown, USD dropped -88.63% vs MSFT's -69.38%.

Which has better risk-adjusted returns?

USD currently has the higher Sharpe Ratio (4.53 vs -0.28), 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.