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SDOW

GradeANew York Stock Exchange Arca

ProShares - UltraPro Short Dow30

Leveraged · Leveraged & Inverse · ProShares · Inception 2010-02-09 · SEC filings

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$25.05+0.17 (+0.66%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: up, 59 prints from 24.89 to 25.05. Range 24.70 to 25.18. Use the arrow keys to read each point.$24.80$25.2010 AM12 PM2 PM4 PM
Expense ratio
0.97%
Fund size
$169M
1Y return
−28.1%
Yield · Last 12 months
5.24%
Holdings
14
Volume · 30D
4M sh
NAV per share
$25.18
52W range
low $21.13high $38.37

The ETF.net SDOW Grade

A

87/ 100

Rank 1 of 14 in 3x Leveraged Inverse⁠

Confidence High

Six-pillar profile for SDOW. Scores out of 100: Cost 99, Risk 74, Mission 76, Tradability 86, Holdings 0, Durability 67. Strongest: Cost (99). Weakest: Holdings (0). Leans toward Cost.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 87 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 99
    Category rank1/14 · top 7%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 76
    Category rank4/4 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 74
    Category rank2/14 · top 14%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 86
    Category rank2/14 · top 14%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 0
    Category rank2/2 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 67
    Category rank2/14 · top 14%

Graded as of Sep 22, 2026

Our read on SDOW

ETF.net Research

AWall Street's most famous index, geared into a stopwatch trade. SDOW aims for three times the inverse of the Dow's daily move and resets every day, making it the most levered short-Dow rung ProShares offers.

Stated mandate

SDOW seeks daily investment results, before fees and expenses, corresponding to three times the inverse of the daily performance of the Dow Jones Industrial Average.

Why people hold it

  1. 01Costs 0.97% a year, under the typical leveraged or inverse fund and under ProShares' own gentler Dow bears, DOG (-1x) and DXD (-2x).proshares.com
  2. 02Actively traded, which matters a lot when the whole thesis lasts one session and you need to get out at a fair price.
  3. 03Live since 2010 under the same daily mandate, and one of the stronger implementations in its leveraged and inverse peer group.

Worth knowing

  1. 01Daily reset: hold past a day and results can drift well away from three times the Dow's move over that stretch, especially in choppy markets.proshares.com
  2. 02That 0.97% accrues every day you hold, whether the Dow falls, rises, or goes nowhere.
  3. 03Triple inverse leverage on a narrow blue-chip index sits at the high-volatility end of the ETF shelf; moves against you compound fast.

SDOW Holdings

As of Sep 20, 2026, 6:50 AM
Asset class
Stocks
Holdings
14
Top-10 weight
136%
Largest holding
IQMM85.9%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001IQMMPROSHARES GENIUS MNY MKT ETF85.91%1,350,000$135M61
002—TREASURY BILL, 0%, due 2026-09-2213.35%21,000,000$21M12
003—TREASURY BILL, 0%, due 2026-12-2913.20%21,000,000$21M18
004—TREASURY BILL, 0%, due 2026-10-016.35%10,000,000$10M8
005—TREASURY BILL, 0%, due 2026-12-084.41%7,000,000$7M4
006—TREASURY BILL, 0%, due 2026-11-033.16%5,000,000$5M11
007—TREASURY BILL, 0%, due 2026-11-103.16%5,000,000$5M10
008—TREASURY BILL, 0%, due 2026-12-243.15%5,000,000$5M7
009—TREASURY BILL, 0%, due 2026-12-313.14%5,000,000$5M2

Showing 1–9 of 9 holdings

SDOW Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SDOW$7,189
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. SDOW $7,189. SPY $11,723. Use the arrow keys to read each point.$5,803$9,003$12,203Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SDOW. Periods over one year show the average yearly return.
PeriodSDOW
Year to date−20.9%
1 month+8.4%
3 months−0.3%
1 year−28.1%
3 years−33.9%per year
5 years−25.5%per year
10 years−37.5%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SDOW
YearReturn barSDOW
2026 YTD−20.9%
2025−33.9%
2024−25.9%
2023−28.9%
2022+4.0%
2021−49.0%
2020−66.5%

SDOW in the news

ETF.net Research hasn’t filed on SDOW yet — coverage lands here as it’s written.

SDOW Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
5.24%Last 12 months
Payout per share
$1.30Last 12 months
Last payment
$0.22 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 25 payments from 2017 to 2026 YTD. Dec 26, 2017 $1.10; Mar 21, 2018 $2.04; Jun 20, 2018 $2.87; Sep 26, 2018 $3.60; Dec 26, 2018 $6.62; Mar 20, 2019 $2.73; Jun 25, 2019 $4.55; Sep 25, 2019 $3.69; Dec 24, 2019 $2.27; Mar 25, 2020 $1.06; Dec 22, 2022 $0.39; Mar 22, 2023 $0.88; Jun 21, 2023 $1.03; Sep 20, 2023 $1.03; Dec 20, 2023 $1.01; Mar 20, 2024 $1.01; Jun 26, 2024 $1.10; Sep 25, 2024 $0.93; Dec 23, 2024 $1.17; Mar 26, 2025 $0.61; Jun 25, 2025 $0.39; Sep 24, 2025 $0.41; Dec 24, 2025 $0.44; Mar 25, 2026 $0.24; Jun 24, 2026 $0.22. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 24, 2026Jun 30, 2026$0.22
Mar 25, 2026Mar 31, 2026$0.24
Dec 24, 2025Dec 31, 2025$0.44
Sep 24, 2025Sep 30, 2025$0.41
Jun 25, 2025Jul 1, 2025$0.39
Mar 26, 2025Apr 1, 2025$0.61
Dec 23, 2024Dec 31, 2024$1.17
Sep 25, 2024Oct 2, 2024$0.93
Jun 26, 2024Jul 3, 2024$1.10
Mar 20, 2024Mar 27, 2024$1.01
Dec 20, 2023Dec 28, 2023$1.01
Sep 20, 2023Sep 27, 2023$1.03

SDOW Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
34.4%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−1.15
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−85.1%
Trough Aug 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−2.45
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

SDOW Cost

Expense ratio0.97%
  • The middle half of 3x Leveraged Inverse funds
  • Median 1.05%

No 3x Leveraged Inverse fund charges less.

SDOW costs $97.00 a year on $10,000. The median 3x Leveraged Inverse fund costs $105.00.