ProShares - UltraShort Utilities
$27.50+0.94 (+3.55%)
- Expense ratio
- 5.29%
- Fund size
- $5M
- 1Y return
- +8.3%
- Yield · Last 12 months
- 3.43%
- Holdings
- 6
- Volume · 30D
- 0M sh
- NAV per share
- $26.34
- 52W range
The ETF.net SDP Grade
Score 30 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 15Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 61Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 27Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 47Category rank
Our read on SDP
DThe short shelf's utilities specialist. Since 2007, SDP has aimed at twice the inverse of the S&P 500 utilities sector's daily move, a single-ticker way to lean against the market's bond-proxy corner instead of shorting it yourself.
The Fund seeks daily investment results, before fees and expenses, corresponding to approximately two times the inverse of the daily performance of the S&P Utilities Select Sector Index.
Why people hold it
- ProShares describes it as the only -2x ETF built to move opposite the utilities sector's daily performance. Narrow trade, very short shelf.proshares.com
- Trading since January 2007, one of the original ProShares leveraged and inverse sector funds. Its benchmark today is the S&P Utilities Select Sector Index.
- Inverse leveraged exposure through one ticker in a regular brokerage account: no shares to borrow, no short position to maintain.proshares.com
- A contractual ProShares expense limitation agreement caps total net annual operating expenses at 0.95%, far below what the fund's raw costs would otherwise be.sec.govsec.gov
Worth knowing
- The -2x target resets daily. Hold longer and compounding takes over, so a week's or a month's result can look very different from twice the inverse of the index move.proshares.com
- That 0.95% cap rests on a waiver ProShares renews for set periods and can revise. Before waivers, expenses run multiples of the leveraged and inverse median, so check the live prospectus.sec.gov
- A small fund that trades lightly next to the headline inverse names, and it holds one concentrated sector. Spreads and limit orders matter more here than size alone suggests.proshares.com
SDP Holdings
- Stocks
- 6
- 100%
- Net Other Assets (Liabilities)
SDP Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | SDP |
|---|---|
| Year to date | +8.4% |
| 1 month | +10.5% |
| 3 months | +21.4% |
| 1 year | +8.3% |
| 3 years | −16.8% |
| 5 years | −13.3% |
| 10 years | −18.9% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SDP |
|---|---|---|
| 2026 YTD | +8.4% | |
| 2025 | −22.6% | |
| 2024 | −30.0% | |
| 2023 | +18.9% | |
| 2022 | −12.5% | |
| 2021 | −33.2% | |
| 2020 | −36.3% |
SDP in the news
ETF.net Research hasn’t filed on SDP yet — coverage lands here as it’s written.
SDP Dividends
- 3.43%
- $0.92
- $0.17 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 24, 2026 | Jun 30, 2026 | $0.17 |
| Mar 25, 2026 | Mar 31, 2026 | $0.06 |
| Dec 24, 2025 | Dec 31, 2025 | $0.49 |
| Sep 24, 2025 | Sep 30, 2025 | $0.19 |
| Jun 25, 2025 | Jul 1, 2025 | $0.16 |
| Mar 26, 2025 | Apr 1, 2025 | $0.15 |
| Dec 23, 2024 | Dec 31, 2024 | $0.65 |
| Sep 25, 2024 | Oct 2, 2024 | $0.25 |
| Jun 26, 2024 | Jul 3, 2024 | $0.42 |
| Mar 20, 2024 | Mar 27, 2024 | $0.24 |
| Feb 14, 2024 | Data unavailable | $0.06 |
| Dec 20, 2023 | Dec 28, 2023 | $0.58 |
SDP 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.
- 29.8%
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.
- −0.72
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.
- −66.1%
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.
- −0.79
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SDP Cost
- The middle half of Leveraged Inverse (2x & Other) funds
- Median 1.44%
44 of the 53 Leveraged Inverse (2x & Other) funds charge less.