UST vs. DIG
UST (ProShares Ultra 7-10 Year Treasury) and DIG (ProShares Ultra Oil & Gas) are both exchange-traded funds - UST is a Leveraged Bonds fund tracking the Barclays Capital U.S. 7-10 Year Treasury Index (200%), while DIG is a Leveraged Equities fund tracking the Dow Jones U.S. Oil & Gas Index (200%). Both are passively managed. Over the past 10 years, UST returned -2.30%/yr vs 3.37%/yr for DIG. At a correlation of -0.29, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
UST vs. DIG - Performance Comparison
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Returns By Period
In the year-to-date period, UST achieves a -2.34% return, which is significantly lower than DIG's 39.09% return. Over the past 10 years, UST has underperformed DIG with an annualized return of -2.30%, while DIG has yielded a comparatively higher 3.37% annualized return.
UST
- 1D
- 0.49%
- 1M
- 1.45%
- YTD
- -2.34%
- 6M
- -2.87%
- 1Y
- 1.47%
- 3Y*
- -0.02%
- 5Y*
- -6.67%
- 10Y*
- -2.30%
DIG
- 1D
- -3.68%
- 1M
- -18.75%
- YTD
- 39.09%
- 6M
- 41.14%
- 1Y
- 52.02%
- 3Y*
- 18.24%
- 5Y*
- 23.63%
- 10Y*
- 3.37%
UST vs. DIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UST ProShares Ultra 7-10 Year Treasury | -2.34% | 10.26% | -6.19% | 0.16% | -30.19% | -7.81% | 18.83% | 13.34% | -1.09% | 3.21% |
DIG ProShares Ultra Oil & Gas | 39.09% | 2.73% | 0.93% | -13.04% | 125.34% | 115.63% | -70.36% | 12.51% | -40.11% | -7.39% |
Correlation
The correlation between UST and DIG is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2010 | -0.29 |
The correlation between UST and DIG shifts across timeframes, from -0.29 (all time) to -0.12 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
UST vs. DIG — Risk / Return Rank
UST
DIG
UST vs. DIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra 7-10 Year Treasury (UST) and ProShares Ultra Oil & Gas (DIG). 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.
| UST | DIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.21 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.17 | 1.85 | -1.68 |
| Martin ratioReturn relative to average drawdown | 0.44 | 5.31 | -4.87 |
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Drawdowns
UST vs. DIG - Drawdown Comparison
The maximum UST drawdown since its inception was -47.99%, smaller than the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for UST and DIG.
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Drawdown Indicators
| UST | DIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.99% | -97.04% | +49.05% |
Max Drawdown (1Y)Largest decline over 1 year | -8.75% | -28.23% | +19.48% |
Max Drawdown (3Y)Largest decline over 3 years | -16.66% | -42.41% | +25.75% |
Max Drawdown (5Y)Largest decline over 5 years | -43.97% | -46.02% | +2.05% |
Max Drawdown (10Y)Largest decline over 10 years | -47.99% | -92.53% | +44.54% |
Current DrawdownCurrent decline from peak | -37.98% | -59.25% | +21.27% |
Average DrawdownAverage peak-to-trough decline | -15.20% | -64.33% | +49.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 9.83% | -6.44% |
Volatility
UST vs. DIG - Volatility Comparison
The current volatility for ProShares Ultra 7-10 Year Treasury (UST) is 2.74%, while ProShares Ultra Oil & Gas (DIG) has a volatility of 14.35%. This indicates that UST experiences smaller price fluctuations and is considered to be less risky than DIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UST | DIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.74% | 14.35% | -11.61% |
Volatility (6M)Calculated over the trailing 6-month period | 6.85% | 33.91% | -27.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.33% | 41.61% | -32.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.48% | 51.55% | -36.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.16% | 57.83% | -44.67% |
UST vs. DIG - Expense Ratio Comparison
Both UST and DIG have an expense ratio of 0.95%.
Dividends
UST vs. DIG - Dividend Comparison
UST's dividend yield for the trailing twelve months is around 3.47%, more than DIG's 1.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 1.79% | 2.62% | 3.13% | 0.61% | 1.33% | 2.24% | 3.18% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% |
UST ProShares Ultra 7-10 Year Treasury | 3.47% | 3.65% | 4.09% | 3.49% | 0.47% | 0.27% | 0.53% | 1.42% | 1.71% | 0.84% | 0.64% | 0.75% |
Frequently Asked Questions
UST and DIG have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIG has higher volatility (14.35%) compared to UST (2.74%). In terms of maximum drawdown, UST dropped -47.99% vs DIG's -97.04%.
On 10-year performance, DIG leads with 3.37% vs -2.30% for UST. Both ETFs have the same 0.95% expense ratio. On volatility, UST has been the lower-risk option at 2.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DIG has performed better with a 3.37% return vs -2.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UST and DIG have the same expense ratio: 0.95% per year.
UST has the higher dividend yield at 3.47%, compared with 1.79% for DIG.
UST is categorized as Leveraged Bonds, while DIG is Leveraged Equities. UST tracks Barclays Capital U.S. 7-10 Year Treasury Index (200%), while DIG tracks Dow Jones U.S. Oil & Gas Index (200%).
DIG currently has the higher Sharpe Ratio (1.26 vs 0.16), 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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