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 -36.70%/yr vs 28.29%/yr for DIG. At a correlation of -0.19, 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 -16.82% return, which is significantly lower than DIG's 66.35% return.
WEBS
- 1D
- 5.89%
- 1M
- -13.46%
- YTD
- -16.82%
- 6M
- -14.14%
- 1Y
- -30.71%
- 3Y*
- -49.47%
- 5Y*
- -36.70%
- 10Y*
- —
DIG
- 1D
- 2.57%
- 1M
- -3.48%
- YTD
- 66.35%
- 6M
- 59.45%
- 1Y
- 90.00%
- 3Y*
- 23.37%
- 5Y*
- 28.29%
- 10Y*
- 5.32%
WEBS vs. DIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -16.82% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -13.16% |
DIG ProShares Ultra Oil & Gas | 66.35% | 2.73% | 0.93% | -13.04% | 125.34% | 115.63% | -70.36% | 4.17% |
Correlation
The correlation between WEBS and DIG is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | -0.19 |
The correlation between WEBS and DIG shifts across timeframes, from -0.19 (all time) to 0.15 (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.
| WEBS | DIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.75 | ||
| Sortino ratioReturn per unit of downside risk | -3.13 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.33 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 3.89 | -4.46 |
| Martin ratioReturn relative to average drawdown | -1.33 | 10.65 | -11.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WEBS | DIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | 2.22 | -2.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 0.55 | -1.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | -0.00 | -0.58 |
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% | -23.29% | -30.25% |
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 | -99.60% | -51.27% | -48.33% |
Average DrawdownAverage peak-to-trough decline | -91.09% | -64.37% | -26.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.19% | 8.49% | +14.70% |
Volatility
WEBS vs. DIG - Volatility Comparison
The current volatility for Daily Dow Jones Internet Bear 3X Shares (WEBS) is 15.72%, while ProShares Ultra Oil & Gas (DIG) has a volatility of 16.56%. This indicates that WEBS 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
| WEBS | DIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.72% | 16.56% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 43.46% | 33.14% | +10.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.60% | 40.88% | +16.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.81% | 51.59% | +30.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.84% | 57.81% | +32.03% |
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 3.92%, more than DIG's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 1.50% | 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 | 3.92% | 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 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIG has higher volatility (16.56%) compared to WEBS (15.72%). In terms of maximum drawdown, WEBS dropped -99.63% vs DIG's -97.04%.
On 5-year performance, DIG leads with 28.29% vs -36.70% for WEBS. On fees, DIG is cheaper at 0.95% per year. On volatility, WEBS has been the lower-risk option at 15.72%. 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 28.29% return vs -36.70%. 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 3.92%, compared with 1.50% 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 (2.22 vs -0.54), 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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