ZSL vs. PLTZ

Last updated Jul 14, 2026

ZSL (ProShares UltraShort Silver) and PLTZ (Defiance Daily Target 2X Short PLTR ETF) are both exchange-traded funds - ZSL is a Silver fund tracking the Bloomberg Silver Subindex (-2x), while PLTZ is a Inverse Equities fund actively managed by Defiance. ZSL is passively managed, while PLTZ is actively managed. Over the past year, ZSL returned -85.47% vs -46.99% for PLTZ. At a 0.15 correlation, their price movements are largely independent. ZSL charges 1.32%/yr vs 1.29%/yr for PLTZ.

Performance

ZSL vs. PLTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Silver (ZSL) and Defiance Daily Target 2X Short PLTR ETF (PLTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZSL achieves a -40.11% return, which is significantly lower than PLTZ's 13.59% return.

ZSL

• 1D: 6.92%
• 1M: 31.50%
• 6M: -6.76%
• YTD: -40.11%
• 1Y: -85.47%
• 3Y*: -63.93%
• 5Y*: -48.95%
• 10Y*: -38.80%

PLTZ

• 1D: -5.38%
• 1M: -10.74%
• 6M: 17.92%
• YTD: 13.59%
• 1Y: -46.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZSL vs. PLTZ - Yearly Performance Comparison

	2026 (YTD)	2025
ZSL ProShares UltraShort Silver	-40.11%	-79.63%
PLTZ Defiance Daily Target 2X Short PLTR ETF	13.59%	-67.07%

Correlation

The correlation between ZSL and PLTZ is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	0.15

Return for Risk

ZSL vs. PLTZ — Risk / Return Rank

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

ZSL

ZSL Risk / Return Rank: 2
ZSL Sharpe Ratio Rank: 4
ZSL Sortino Ratio Rank: 2
ZSL Omega Ratio Rank: 2
ZSL Calmar Ratio Rank: 1
ZSL Martin Ratio Rank: 3

PLTZ

PLTZ Risk / Return Rank: 5
PLTZ Sharpe Ratio Rank: 5
PLTZ Sortino Ratio Rank: 7
PLTZ Omega Ratio Rank: 7
PLTZ Calmar Ratio Rank: 2
PLTZ Martin Ratio Rank: 3

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.

ZSL vs. PLTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Silver (ZSL) and Defiance Daily Target 2X Short PLTR ETF (PLTZ). 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	PLTZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	-0.46	-0.24
Sortino ratio: Return per unit of downside risk	-1.51	-0.15	-1.36
Omega ratio: Gain probability vs. loss probability	0.84	0.98	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.91	-0.82	-0.09
Martin ratio: Return relative to average drawdown	-1.19	-1.24	+0.05

ZSL vs. PLTZ - Sharpe Ratio Comparison

The current ZSL Sharpe Ratio is -0.69, which is lower than the PLTZ Sharpe Ratio of -0.46. The chart below compares the historical Sharpe Ratios of ZSL and PLTZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ZSL vs. PLTZ - Drawdown Comparison

The maximum ZSL drawdown since its inception was -100.00%, which is greater than PLTZ's maximum drawdown of -72.51%. Use the drawdown chart below to compare losses from any high point for ZSL and PLTZ.

Drawdown Indicators

	ZSL	PLTZ	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-72.51%	-27.49%
Max Drawdown (1Y) Largest decline over 1 year	-93.81%	-57.18%	-36.63%
Max Drawdown (3Y) Largest decline over 3 years	-98.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-99.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.82%	—	—
Current Drawdown Current decline from peak	-99.99%	-62.59%	-37.40%
Average Drawdown Average peak-to-trough decline	-96.39%	-55.70%	-40.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	71.67%	43.20%	+28.47%

Volatility

ZSL vs. PLTZ - Volatility Comparison

The current volatility for ProShares UltraShort Silver (ZSL) is 28.50%, while Defiance Daily Target 2X Short PLTR ETF (PLTZ) has a volatility of 33.64%. This indicates that ZSL experiences smaller price fluctuations and is considered to be less risky than PLTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZSL	PLTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.50%	33.64%	-5.14%
Volatility (6M) Calculated over the trailing 6-month period	102.91%	78.64%	+24.27%
Volatility (1Y) Calculated over the trailing 1-year period	123.96%	103.36%	+20.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.52%	102.53%	-27.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.88%	102.53%	-36.65%

ZSL vs. PLTZ - Expense Ratio Comparison

ZSL has a 1.32% expense ratio, which is higher than PLTZ's 1.29% expense ratio.

Dividends

ZSL vs. PLTZ - Dividend Comparison

Neither ZSL nor PLTZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ZSL and PLTZ in my portfolio?

ZSL and PLTZ have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZSL or PLTZ?

PLTZ has higher volatility (33.64%) compared to ZSL (28.50%). In terms of maximum drawdown, ZSL dropped -100.00% vs PLTZ's -72.51%.

Which ETF is better, ZSL or PLTZ?

On 1-year performance, PLTZ leads with -46.99% vs -85.47% for ZSL. On fees, PLTZ is cheaper at 1.29% per year. On volatility, ZSL has been the lower-risk option at 28.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZSL or PLTZ?

Over the 1-year period, PLTZ has performed better with a -46.99% return vs -85.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZSL or PLTZ?

PLTZ is cheaper with a 1.29% expense ratio, compared with 1.32% for ZSL.

Which ETF pays a higher dividend yield, ZSL or PLTZ?

ZSL and PLTZ have nearly identical dividend yields, around 0.00%.

What is the main difference between ZSL and PLTZ?

ZSL is categorized as Silver, while PLTZ is Inverse Equities. They also come from different issuers: ProShares and Defiance. Their fees differ too: 1.32% for ZSL and 1.29% for PLTZ.

Which has better risk-adjusted returns?

PLTZ currently has the higher Sharpe Ratio (-0.46 vs -0.69), 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.