WEBS vs. DIG
WEBS (Daily Dow Jones Internet Bear 3X Shares) and DIG (ProShares Ultra Oil & Gas) are both Leveraged Equities funds - WEBS tracks the Dow Jones Internet Composite Index (300%) while DIG tracks the Dow Jones U.S. Oil & Gas Index (200%). Both are passively managed. Over the past 5 years, WEBS returned -33.85%/yr vs 33.20%/yr for DIG. At a correlation of -0.18, they often move in opposite directions. WEBS charges 1.07%/yr vs 0.95%/yr for DIG.
Performance
WEBS vs. DIG - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a -11.73% return, which is significantly lower than DIG's 57.02% return.
WEBS
- 1D
- 4.75%
- 1M
- -3.57%
- 6M
- -16.73%
- YTD
- -11.73%
- 1Y
- -16.44%
- 3Y*
- -44.25%
- 5Y*
- -33.85%
- 10Y*
- —
DIG
- 1D
- 1.92%
- 1M
- 6.49%
- 6M
- 39.50%
- YTD
- 57.02%
- 1Y
- 68.08%
- 3Y*
- 19.43%
- 5Y*
- 33.20%
- 10Y*
- 3.82%
WEBS vs. DIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -11.73% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
DIG ProShares Ultra Oil & Gas | 57.02% | 2.73% | 0.93% | -13.04% | 125.34% | 115.63% | -70.36% | 7.48% |
Correlation
The correlation between WEBS and DIG is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | -0.18 |
The correlation between WEBS and DIG shifts across timeframes, from -0.18 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WEBS vs. DIG — Risk / Return Rank
WEBS
DIG
WEBS vs. DIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) 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.
| WEBS | DIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.91 | ||
| Sortino ratioReturn per unit of downside risk | -2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.26 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | 2.30 | -2.60 |
| Martin ratioReturn relative to average drawdown | -0.68 | 5.96 | -6.64 |
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Drawdowns
WEBS vs. DIG - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, roughly equal to the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for WEBS and DIG.
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Drawdown Indicators
| WEBS | DIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -97.04% | -2.59% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -29.80% | -23.74% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -42.41% | -47.92% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -46.02% | -51.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.53% | — |
Current DrawdownCurrent decline from peak | -99.57% | -54.00% | -45.57% |
Average DrawdownAverage peak-to-trough decline | -91.18% | -64.31% | -26.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.10% | 11.46% | +12.64% |
Volatility
WEBS vs. DIG - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) has a higher volatility of 18.31% compared to ProShares Ultra Oil & Gas (DIG) at 12.34%. This indicates that WEBS's price experiences larger fluctuations and is considered to be riskier 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
| WEBS | DIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.31% | 12.34% | +5.97% |
Volatility (6M)Calculated over the trailing 6-month period | 47.79% | 33.38% | +14.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.11% | 41.89% | +18.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.26% | 51.35% | +30.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.49% | 57.79% | +31.70% |
WEBS vs. DIG - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is higher than DIG's 0.95% expense ratio.
Dividends
WEBS vs. DIG - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 3.10%, more than DIG's 1.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 1.58% | 2.62% | 3.13% | 0.61% | 1.33% | 2.24% | 3.18% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.10% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WEBS and DIG have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEBS has higher volatility (18.31%) compared to DIG (12.34%). In terms of maximum drawdown, WEBS dropped -99.63% vs DIG's -97.04%.
On 5-year performance, DIG leads with 33.20% vs -33.85% for WEBS. On fees, DIG is cheaper at 0.95% per year. On volatility, DIG has been the lower-risk option at 12.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DIG has performed better with a 33.20% return vs -33.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIG is cheaper with a 0.95% expense ratio, compared with 1.07% for WEBS.
WEBS has the higher dividend yield at 3.10%, compared with 1.58% for DIG.
WEBS tracks Dow Jones Internet Composite Index (300%), while DIG tracks Dow Jones U.S. Oil & Gas Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.07% for WEBS and 0.95% for DIG.
DIG currently has the higher Sharpe Ratio (1.64 vs -0.27), 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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