USD vs. SPUU

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Ultra Semiconductors (USD) and Direxion Daily S&P 500 Bull 2x Shares (SPUU).

USD and SPUU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. SPUU is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (200%). It was launched on May 28, 2014. Both USD and SPUU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

USD vs. SPUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Semiconductors (USD) and Direxion Daily S&P 500 Bull 2x Shares (SPUU). The values are adjusted to include any dividend payments, if applicable.

USD vs. SPUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USD ProShares Ultra Semiconductors	-4.90%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	81.72%
SPUU Direxion Daily S&P 500 Bull 2x Shares	-8.72%	26.55%	44.25%	47.28%	-38.72%	61.27%	21.85%	66.84%	-14.59%	44.33%

Returns By Period

In the year-to-date period, USD achieves a -4.90% return, which is significantly higher than SPUU's -8.72% return. Over the past 10 years, USD has outperformed SPUU with an annualized return of 50.62%, while SPUU has yielded a comparatively lower 21.84% annualized return.

USD

• 1D: 4.03%
• 1M: -7.90%
• YTD: -4.90%
• 6M: -1.21%
• 1Y: 145.25%
• 3Y*: 90.90%
• 5Y*: 44.58%
• 10Y*: 50.62%

SPUU

• 1D: 1.43%
• 1M: -9.19%
• YTD: -8.72%
• 6M: -6.20%
• 1Y: 28.11%
• 3Y*: 29.46%
• 5Y*: 16.19%
• 10Y*: 21.84%

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

USD vs. SPUU - Expense Ratio Comparison

USD has a 0.95% expense ratio, which is higher than SPUU's 0.64% expense ratio.

USD

ProShares Ultra Semiconductors

SPUU

Direxion Daily S&P 500 Bull 2x Shares

Return for Risk

USD vs. SPUU — Risk / Return Rank

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

USD

USD Risk / Return Rank: 89
USD Sharpe Ratio Rank: 88
USD Sortino Ratio Rank: 87
USD Omega Ratio Rank: 83
USD Calmar Ratio Rank: 96
USD Martin Ratio Rank: 91

SPUU

SPUU Risk / Return Rank: 46
SPUU Sharpe Ratio Rank: 40
SPUU Sortino Ratio Rank: 45
SPUU Omega Ratio Rank: 48
SPUU Calmar Ratio Rank: 46
SPUU Martin Ratio Rank: 53

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. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Semiconductors (USD) and Direxion Daily S&P 500 Bull 2x Shares (SPUU). 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	SPUU	Difference
Sharpe ratio Return per unit of total volatility	1.90	0.78	+1.12
Sortino ratio Return per unit of downside risk	2.44	1.29	+1.14
Omega ratio Gain probability vs. loss probability	1.34	1.19	+0.14
Calmar ratio Return relative to maximum drawdown	4.67	1.25	+3.42
Martin ratio Return relative to average drawdown	12.81	5.36	+7.45
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. SPUU - Sharpe Ratio Comparison

The current USD Sharpe Ratio is 1.90, which is higher than the SPUU Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of USD and SPUU, 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	SPUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	0.78	+1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.49	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.61	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.56	-0.15

Correlation

The correlation between USD and SPUU is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

USD vs. SPUU - Dividend Comparison

USD's dividend yield for the trailing twelve months is around 0.48%, less than SPUU's 1.76% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
USD ProShares Ultra Semiconductors	0.48%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%
SPUU Direxion Daily S&P 500 Bull 2x Shares	1.76%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%

Drawdowns

USD vs. SPUU - Drawdown Comparison

The maximum USD drawdown since its inception was -88.63%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for USD and SPUU.

Drawdown Indicators

	USD	SPUU	Difference
Max Drawdown Largest peak-to-trough decline	-88.63%	-59.35%	-29.28%
Max Drawdown (1Y) Largest decline over 1 year	-31.80%	-23.10%	-8.70%
Max Drawdown (5Y) Largest decline over 5 years	-77.85%	-46.59%	-31.26%
Max Drawdown (10Y) Largest decline over 10 years	-77.85%	-59.35%	-18.50%
Current Drawdown Current decline from peak	-21.24%	-12.15%	-9.09%
Average Drawdown Average peak-to-trough decline	-32.60%	-9.62%	-22.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.60%	5.41%	+6.19%

Volatility

USD vs. SPUU - Volatility Comparison

ProShares Ultra Semiconductors (USD) has a higher volatility of 21.67% compared to Direxion Daily S&P 500 Bull 2x Shares (SPUU) at 10.73%. This indicates that USD's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USD	SPUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.67%	10.73%	+10.94%
Volatility (6M) Calculated over the trailing 6-month period	48.73%	19.20%	+29.53%
Volatility (1Y) Calculated over the trailing 1-year period	77.08%	36.23%	+40.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	76.24%	33.47%	+42.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.85%	35.72%	+33.13%