ZSL vs. MOOD
ZSL (ProShares UltraShort Silver) and MOOD (Relative Sentiment Tactical Allocation ETF) are both exchange-traded funds - ZSL is a Silver fund tracking the Bloomberg Silver Subindex (-2x), while MOOD is a Tactical Allocation fund actively managed by Alpha Architect. ZSL is passively managed, while MOOD is actively managed. Over the past 3 years, ZSL returned -64.77%/yr vs 19.14%/yr for MOOD. Their -0.54 correlation means they have often moved in opposite directions in the past. ZSL charges 1.32%/yr vs 0.73%/yr for MOOD.
Performance
ZSL vs. MOOD - Performance Comparison
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Returns By Period
In the year-to-date period, ZSL achieves a -41.40% return, which is significantly lower than MOOD's 13.27% return.
ZSL
- 1D
- 4.44%
- 1M
- 7.53%
- 6M
- 32.58%
- YTD
- -41.40%
- 1Y
- -87.23%
- 3Y*
- -64.77%
- 5Y*
- -49.69%
- 10Y*
- -38.53%
- ALL TIME*
- -41.76%
MOOD
- 1D
- 0.04%
- 1M
- -0.12%
- 6M
- 5.83%
- YTD
- 13.27%
- 1Y
- 32.12%
- 3Y*
- 19.14%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $594.91K | $566.29K | $735.34K | |
| $62.12M | $66.02M | $102.33M |
ZSL vs. MOOD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZSL ProShares UltraShort Silver | -41.40% | -87.29% | -42.43% | -5.49% | -33.52% |
MOOD Relative Sentiment Tactical Allocation ETF | 13.27% | 30.39% | 12.53% | 12.56% | -3.31% |
Correlation
The correlation between ZSL and MOOD is -0.75, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.75 |
Correlation (3Y) Balances recent behavior with more history. | -0.58 |
Correlation (All Time) Calculated using the full available price history since May 19, 2022 | -0.54 |
Over the past year, the inverse relationship between ZSL and MOOD has strengthened: their correlation has moved from -0.54 to -0.75, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
ZSL vs. MOOD — Risk / Return Rank
ZSL
MOOD
ZSL vs. MOOD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Silver (ZSL) and Relative Sentiment Tactical Allocation ETF (MOOD). 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.
| ZSL | MOOD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.84 | ||
| Sortino ratioReturn per unit of downside risk | -4.24 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.42 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 3.23 | -4.17 |
| Martin ratioReturn relative to average drawdown | -1.18 | 9.79 | -10.96 |
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Drawdowns
ZSL vs. MOOD - Drawdown Comparison
The maximum ZSL drawdown since its inception was -100.00%, which is greater than MOOD's maximum drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for ZSL and MOOD.
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Drawdown Indicators
| ZSL | MOOD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -14.34% | -85.66% |
Max Drawdown (1Y)Largest decline over 1 year | -93.72% | -9.71% | -84.01% |
Max Drawdown (3Y)Largest decline over 3 years | -98.40% | -9.71% | -88.69% |
Max Drawdown (5Y)Largest decline over 5 years | -99.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.82% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -2.08% | -97.91% |
Average DrawdownAverage peak-to-trough decline | -96.40% | -2.30% | -94.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 74.55% | 3.20% | +71.35% |
Volatility
ZSL vs. MOOD - Volatility Comparison
ProShares UltraShort Silver (ZSL) has a higher volatility of 22.62% compared to Relative Sentiment Tactical Allocation ETF (MOOD) at 2.45%. This indicates that ZSL's price experiences larger fluctuations and is considered to be riskier than MOOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZSL | MOOD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.62% | 2.45% | +20.17% |
Volatility (6M)Calculated over the trailing 6-month period | 96.58% | 12.23% | +84.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 124.38% | 14.69% | +109.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.74% | 12.09% | +63.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.98% | 12.09% | +53.89% |
ZSL vs. MOOD - Expense Ratio Comparison
ZSL has a 1.32% expense ratio, which is higher than MOOD's 0.73% expense ratio.
Dividends
ZSL vs. MOOD - Dividend Comparison
ZSL has not paid dividends to shareholders, while MOOD's dividend yield for the trailing twelve months is around 0.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MOOD Relative Sentiment Tactical Allocation ETF | 0.36% | 0.40% | 1.33% | 1.34% | 1.43% |
ZSL ProShares UltraShort Silver | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZSL and MOOD have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZSL has higher volatility (22.62%) compared to MOOD (2.45%). In terms of maximum drawdown, ZSL dropped -100.00% vs MOOD's -14.34%.
On 3-year performance, MOOD leads with 19.14% vs -64.77% for ZSL. On fees, MOOD is cheaper at 0.73% per year. On volatility, MOOD has been the lower-risk option at 2.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MOOD has performed better with a 19.14% return vs -64.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MOOD is cheaper with a 0.73% expense ratio, compared with 1.32% for ZSL.
MOOD has the higher dividend yield at 0.36%, compared with 0.00% for ZSL.
ZSL is categorized as Silver, while MOOD is Tactical Allocation. They also come from different issuers: ProShares and Alpha Architect. Their fees differ too: 1.32% for ZSL and 0.73% for MOOD.
MOOD currently has the higher Sharpe Ratio (2.14 vs -0.70), 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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