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DOG vs DUST

ProShares Short Dow30

DOGBNYSE Arca

Direxion Daily Gold Miners Index Bear 2X ETF

DUSTCNYSE Arca

Overlap

0.0%by weight

Expense ratio

DUST −0.01pt a year

DOG0.95%DUST0.94%

Avg volume · 30D

DOG 4.5×the volume

DOG4.77MDUST1.07M

10Y return · a year

DOG +41.9pt

DOG−11.0%DUST−52.9%

DOG vs DUST Performance

Nov 2, 2021 – Nov 2, 2026

−20.6%DOG−97.6%DUST

Nov 2, 2021 to Nov 2, 2026. DOG −20.6%. DUST −97.6%. Use the arrow keys to read each point.−75%−50%0%25%Nov 2021May 2024Nov 2026
Expense ratio
DOG 0.95%
DUST 0.94%, better
Fund size
DOG $115M
DUST $71M
1Y total return
DOG −5.3%, better
DUST −57.4%
Yield (12M)
DOG 3.16%
DUST 4.27%, better
Holdings
DOG 3
DUST 5
Avg volume (30D)
DOG 4.77M sh, better
DUST 1.07M sh
NAV per share
DOG $22.02
DUST $49.99
52W range

ETF.net Grade

DOG: Cost 50, Risk 66, Mission 97, Tradability 94, Holdings 43, Durability 69. DUST: Cost 50, Risk 19, Mission not scored, Tradability 53, Holdings not scored, Durability 57.
Pillar letters and Scores for DOG, DUST, with each pillar’s weight
PillarDOGDUST
Cost30% weightC50C50
Mission25% weightA97Not scored
Risk15% weightB66HigherF19
Tradability15% weightA94HigherC53
Holdings10% weightC43Not scored
Durability5% weightB69HigherB57

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. DOG and DUST 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 DUST 29th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BPSQProShares Short QQQScore 65
  3. Rank 27CSSGProShares UltraShort SemiconductorsScore 44
  4. Rank 29CDUSTDirexion Daily Gold Miners Index Bear 2X ETFScore 43
  5. Rank 29CFXPProShares UltraShort FTSE China 50Score 43

Our read on each fund

ETF.net Research

DOGBProShares Short Dow30

DUSTCDirexion Daily Gold Miners Index Bear 2X ETF

In short

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.

DUST The gold-miner short, in one ticker. Running since 2010, DUST aims for 200% of the inverse of the daily move in global gold miners, then resets at the bell. Direxion dialed the target back from 3x to 2x in 2020.

Stated mandate

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

DUST The fund seeks daily investment results, before fees and expenses, equal to 200% of the inverse performance of the MarketVector Global Gold Miners Index. The issuer states that achieving this objective is not guaranteed.

Why people hold it

  • 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.
  • DUST A bearish miner view without borrowing shares: one ticker aims for 200% of the inverse of the MarketVector Global Gold Miners Index each trading day.direxion.com
  • Listed since 2010 and actively traded, which is what a one-session trading tool needs most: a market you can get into and out of.
  • At 0.94%, the fee lands near the category median for geared funds, and a shade under the 0.95% net that PSQ charges (net of a waiver through September 30, 2027).
  • Direxion reset the target from 3x to 2x in 2020, so each day's miner move is magnified less than it was in the fund's first decade.sec.govsec.gov 2

Worth knowing

  • 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
  • DUST Built for a day. Hold longer and your result is each day's compounded return, which the prospectus says will very likely differ from -200% of the index over that span.sec.gov
  • Mining stocks move hard on their own. Doubling and flipping that daily move puts DUST at the high-risk end of its category, and Direxion notes the fund may not achieve its objective.direxion.com
  • Distributions land quarterly, but income is not the mechanism here; the stated job is the inverse daily move, not a yield stream.

Full DOG profile⁠

Full DUST profile⁠

DOG vs DUST Holdings

How DOG and DUST differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of DOG and 0.0% of DUST.

Level by level

  • Asset classEquity, Leveraged/Inverse0.0%
  • Holdings0 in both0.0%

Sector

No Sector split for DUST.

Country, concentration and asset class

Country by domicile

No country split for DUST.

Concentration

Weight in the 10 largest Holdings

  • DOG100.0%
  • DUST194.4%

Securities held

  • DOG2
  • DUST0

Asset class

DOG
Equity
DUST
Leveraged/Inverse

Holdings

  • Only in DOG2
  • In both0
  • Only in DUST0

Only in DOG

2 securities, 94.1% of DOG by weight

  • Proshares Genius Mny Mkt Etf89.61%
  • TREASURY BILL, 0%, due 2026-12-174.45%

Only in DUST

0 securities, 0.0% of DUST by weight

Weight gaps

DOG and DUST share no securities.

All 12 DOG holdings⁠All 8 DUST 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.

DOG vs DUST Cost

Overpaying DOG vs DUST

$165

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

  • DOG 0.95%

    $17,869

  • DUST 0.94%

    $17,704

$10,000
30 years

Cost over time

  • DOG 0.95%
  • DUST 0.94%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DOG $17,869DUST $17,704

Year by year

YearDOGDUSTOverpaying
10$1,678$1,661$17
20$6,322$6,260$62
30$17,869$17,704$165

Expense ratio

  • 0.95%DOG
  • 0.94%DUST, cheaper
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

DUST 5th cheapest of 53 funds

DOG 6th cheapest of 53 funds

DOG vs DUST Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
DOG 3.16%
DUST 4.27%, better
Payout (12M)
DOG $0.69
DUST $2.02
Last payment
DOG $0.17
DUST $0.28
Ex-dividend
DOG Sep 23, 2026
DUST Sep 22, 2026
Paid on
DOG Sep 29, 2026
DUST Sep 29, 2026
Frequency
DOG Quarterly
DUST Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

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$2.502017202020232026YTD
DUSTQuarterly · 6 paymentsAll DUST payments⁠
One bar per payment. 6 payments from 2017 to 2026 YTD. Jun 24, 2025 $2.34; Sep 23, 2025 $1.03; Dec 23, 2025 $0.65; Mar 24, 2026 $0.77; Jun 23, 2026 $0.32; Sep 22, 2026 $0.28. Use the arrow keys to read each point.$0$2.502017202020232026YTD

DOG vs DUST Risk

Fall from peak · 5 years

  • DOG
  • DUST
Nov 2, 2021 to Nov 2, 2026. Worst fall: DUST −99.0% · Aug 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
DOG 11.7%, betterDUST 72.7%
Return per unit of riskSharpe ratio, 3 years
DOG −1.21DUST −1.10, better
Worst fallMax drawdown, 5 years
DOG −37.3%, betterDUST −99.0%
Market sensitivityBeta, 5 years
DOG −0.83DUST −0.86

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