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BIS vs DOG

ProShares UltraShort Nasdaq Biotechnology

BISDNasdaq

ProShares Short Dow30

DOGBNYSE Arca

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

BIS0.95%DOG0.95%

Avg volume · 30D

DOG 549.6×the volume

BIS8.68KDOG4.77M

10Y return · a year

DOG +17.1pt

BIS−28.0%DOG−10.9%

BIS vs DOG Performance

Oct 29, 2021 – Oct 30, 2026

−68.3%BIS−20.7%DOG

Oct 29, 2021 to Oct 30, 2026. BIS −68.3%. DOG −20.7%. Use the arrow keys to read each point.−50%0%25%50%Oct 2021Apr 2024Oct 2026
Expense ratio
BIS 0.95%
DOG 0.95%
Fund size
BIS $2M
DOG $115M
1Y total return
BIS −49.7%
DOG −4.9%, better
Yield (12M)
BIS 5.90%, better
DOG 3.15%
Holdings
BIS 1
DOG 3
Avg volume (30D)
BIS 8.68K sh
DOG 4.77M sh, better
NAV per share
BIS $10.47
DOG $22.02
52W range

ETF.net Grade

BIS: Cost 50, Risk 22, Mission not scored, Tradability 36, Holdings not scored, Durability 39. DOG: Cost 50, Risk 65, Mission 97, Tradability 94, Holdings 43, Durability 69.
Pillar letters and Scores for BIS, DOG, with each pillar’s weight
PillarBISDOG
Cost30% weightC50C50
Mission25% weightNot scoredA97
Risk15% weightF22B65Higher
Tradability15% weightD36A94Higher
Holdings10% weightNot scoredC43
Durability5% weightD39B69Higher

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BIS and DOG are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

DOG ranks 1st and BIS 49th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 32CYXIProShares Short FTSE China 50Score 40
  4. Rank 49DBISProShares UltraShort Nasdaq BiotechnologyScore 39
  5. Rank 50DSDDProShares UltraShort SmallCap600Score 38

Our read on each fund

ETF.net Research

BISDProShares UltraShort Nasdaq Biotechnology

DOGBProShares Short Dow30

In short

BIS The only -2x bet against biotech: BIS aims to deliver twice the inverse of the Nasdaq Biotechnology Index's daily move, then resets the clock every night. A gentler dial than the -3x biotech bear funds, and designed for single-day exposure.

DOG The plain-vanilla short on the Dow: DOG aims to deliver the inverse of the index's move each day, with no 2x or 3x bolted on. Running since 2006, and ProShares bills it as the only -1x ETF built on the Dow.

Stated mandate

BIS The fund seeks daily results, before fees and expenses, equal to approximately negative two times the daily performance of the Nasdaq Biotechnology Index. It is not designed to achieve that target over periods longer than one day.

DOG DOG seeks daily investment results, before fees and expenses, that correspond to the inverse of the Dow Jones Industrial Average's daily performance.

Why people hold it

  • BIS ProShares calls it the only -2x ETF built to move against daily declines in biotech. Where rivals jump straight to -3x, this is the half-step.proshares.com
  • 0.95% net of a waiver through September 30, 2027, near the category median and the same net fee as ProShares stablemates PSQ, DOG and RWM (also waived to that date).
  • Tracks the Nasdaq Biotechnology Index, the cap-weighted Nasdaq-listed biotech and pharma benchmark, rather than the equal-weight small-cap index behind Direxion's -3x biotech pair.proshares.comdirexion.com
  • Live since April 2010, so it has traded through multiple biotech boom-and-bust cycles under the same daily-reset mechanics.
  • DOG 0.95% net of a waiver through September 30, 2027 (1.00% gross), which sits near the typical fee among leveraged and inverse funds.
  • Sticks close to its daily inverse target, one of the tighter implementations in its peer group.proshares.com
  • Actively traded for an inverse fund, so getting in and back out is rarely the hard part.
  • Live since 2006, so the mechanism has run through the financial crisis, 2020 and every tape since.

Worth knowing

  • BIS The prospectus is blunt: it targets -2x for one day and is not designed to hit that over longer periods. Compounding means multi-day results depend on the path.proshares.com
  • Gross expenses run 3.91%; the 0.95% you pay rests on a waiver scheduled through September 30, 2027.
  • One of the smaller, more thinly traded funds in the leveraged-bear group, so spreads can be wider than on headline names like PSQ.
  • DOG The target resets every day. Hold longer than a day and the result depends on the path the Dow takes, not just its direction.proshares.com
  • If the waiver lapses after September 30, 2027, the fee steps up toward the 1.00% gross figure.
  • The Dow is 30 price-weighted names, so this is a short on a narrow, old-school slice of the market rather than the broad tape.proshares.com

Full BIS profile⁠

Full DOG profile⁠

BIS vs DOG Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BIS vs DOG Cost

Same expense ratio

$17,869

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BIS 0.95%

    $17,869

  • DOG 0.95%

    $17,869

$10,000
30 years

Cost over time

  • BIS 0.95%
  • DOG 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BIS $17,869DOG $17,869

Year by year

YearBISDOG
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%BIS
  • 0.95%DOG
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

BIS 6th cheapest of 53 funds

DOG 6th cheapest of 53 funds

BIS vs DOG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BIS 5.90%, better
DOG 3.15%
Payout (12M)
BIS $0.62
DOG $0.69
Last payment
BIS $0.14
DOG $0.17
Ex-dividend
BIS Sep 23, 2026
DOG Sep 23, 2026
Paid on
BIS Sep 29, 2026
DOG Sep 29, 2026
Frequency
BIS Quarterly
DOG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BISQuarterly · 14 paymentsAll BIS payments⁠
One bar per payment. 14 payments from 2017 to 2026 YTD. Jun 21, 2023 $0.04; Sep 20, 2023 $0.24; Dec 20, 2023 $0.35; Mar 20, 2024 $0.32; Jun 26, 2024 $0.32; Sep 25, 2024 $0.30; Dec 23, 2024 $0.41; Mar 26, 2025 $0.27; Jun 25, 2025 $0.22; Sep 24, 2025 $0.31; Dec 24, 2025 $0.21; Mar 25, 2026 $0.14; Jun 24, 2026 $0.14; Sep 23, 2026 $0.14. Use the arrow keys to read each point.$0$0.502017202020232026YTD
DOGQuarterly · 26 paymentsAll DOG payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.02; Mar 21, 2018 $0.06; Jun 20, 2018 $0.12; Sep 26, 2018 $0.16; Dec 26, 2018 $0.19; Mar 20, 2019 $0.17; Jun 25, 2019 $0.25; Sep 25, 2019 $0.20; Dec 24, 2019 $0.14; Mar 25, 2020 $0.06; Dec 22, 2022 $0.14; Mar 22, 2023 $0.20; Jun 21, 2023 $0.35; Sep 20, 2023 $0.39; Dec 20, 2023 $0.41; Mar 20, 2024 $0.32; Jun 26, 2024 $0.40; Sep 25, 2024 $0.36; Dec 23, 2024 $0.43; Mar 26, 2025 $0.18; Jun 25, 2025 $0.21; Sep 24, 2025 $0.21; Dec 24, 2025 $0.26; Mar 25, 2026 $0.10; Jun 24, 2026 $0.16; Sep 23, 2026 $0.17. Use the arrow keys to read each point.$0$0.502017202020232026YTD

BIS vs DOG Risk

Fall from peak · 5 years

  • BIS
  • DOG
Oct 29, 2021 to Oct 30, 2026. Worst fall: BIS −83.2% · Aug 2026. Use the arrow keys to read each point.−80%−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
BIS 31.5%DOG 11.7%, better
Return per unit of riskSharpe ratio, 3 years
BIS −1.52DOG −1.21, better
Worst fallMax drawdown, 5 years
BIS −83.2%DOG −37.3%, better
Market sensitivityBeta, 5 years
BIS −1.17DOG −0.83

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