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DOG vs DXD

ProShares Short Dow30

DOGBNYSE Arca

ProShares UltraShort Dow30

DXDBNYSE Arca

Overlap

Expense ratio

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

DOG0.95%DXD0.95%

Avg volume · 30D

DOG 2.1×the volume

DOG4.77MDXD2.23M

10Y return · a year

DOG +13.4pt

DOG−10.9%DXD−24.3%

DOG vs DXD Performance

Oct 29, 2021 – Oct 30, 2026

−20.7%DOG−51.6%DXD

Oct 29, 2021 to Oct 30, 2026. DOG −20.7%. DXD −51.6%. Use the arrow keys to read each point.−40%0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
DOG 0.95%
DXD 0.95%
Fund size
DOG $115M
DXD $42M
1Y total return
DOG −4.9%, better
DXD −13.2%
Yield (12M)
DOG 3.15%
DXD 3.58%, better
Holdings
DOG 3
DXD 3
Avg volume (30D)
DOG 4.77M sh, better
DXD 2.23M sh
NAV per share
DOG $22.02
DXD $17.67
52W range

ETF.net Grade

DOG: Cost 50, Risk 65, Mission 97, Tradability 94, Holdings 43, Durability 69. DXD: Cost 50, Risk 48, Mission 100, Tradability 85, Holdings 55, Durability 62.
Pillar letters and Scores for DOG, DXD, with each pillar’s weight
PillarDOGDXD
Cost30% weightC50C50
Mission25% weightA97A100Higher
Risk15% weightB65HigherC48
Tradability15% weightA94HigherA85
Holdings10% weightC43B55Higher
Durability5% weightB69HigherB62

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 DXD 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 DXD 10th 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 8BREKProShares Short Real EstateScore 59
  4. Rank 10BDXDProShares UltraShort Dow30Score 58
  5. Rank 11BQIDProShares UltraShort QQQScore 57

Our read on each fund

ETF.net Research

DOGBProShares Short Dow30

DXDBProShares UltraShort Dow30

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.

DXD A 2006 original. DXD aims for twice the inverse of the Dow's daily move, resetting the clock every single day. Think of it as the double-strength version of the Dow bear trade, engineered for days, not quarters.

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.

DXD DXD seeks daily, pre-expense returns equal to approximately twice the inverse of the Dow Jones Industrial Average's daily performance. It is designed to rise when the Index falls and decline when the Index rises.

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.
  • DXD One of the originals. DXD listed July 11, 2006, in the first wave of leveraged and inverse ETFs, and has been running since before the 2008 crash.interactivebrokers.com
  • Does what the label says: -2x the Dow's daily return, measured NAV to NAV. It has hit that daily target tightly, one of the stronger implementations among bear funds.proshares.com
  • 0.95% net of a waiver through September 30, 2027, matching ProShares' other bear funds (DOG, PSQ and RWM each 0.95% net under waivers to the same date) and near the category median.
  • Actively traded for a fund of its size, which matters for a tool built to be held in short stretches rather than parked.

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
  • DXD Daily reset means compounding. Hold longer than one day and the result can drift, sometimes a lot, from -2x the Dow's move over that stretch.proshares.com
  • That 0.95% is net of a waiver running to September 30, 2027. Gross is 1.09%, so the sticker price can step up if the waiver is not renewed.
  • Assets are small by ETF standards, well below the scale of the headline index funds it bets against. Payouts, when made, come on a quarterly cadence.

Full DOG profile⁠

Full DXD profile⁠

DOG vs DXD 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 DXD Cost

Same expense ratio

$17,869

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

  • DOG 0.95%

    $17,869

  • DXD 0.95%

    $17,869

$10,000
30 years

Cost over time

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

Year by year

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

Expense ratio

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

DOG 6th cheapest of 53 funds

DXD 6th cheapest of 53 funds

DOG vs DXD Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DOG 3.15%
DXD 3.58%, better
Payout (12M)
DOG $0.69
DXD $0.63
Last payment
DOG $0.17
DXD $0.15
Ex-dividend
DOG Sep 23, 2026
DXD Sep 23, 2026
Paid on
DOG Sep 29, 2026
DXD Sep 29, 2026
Frequency
DOG Quarterly
DXD 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$0.502017202020232026YTD
DXDQuarterly · 26 paymentsAll DXD payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.22; Mar 21, 2018 $0.28; Jun 20, 2018 $0.43; Sep 26, 2018 $0.61; Dec 26, 2018 $0.73; Mar 20, 2019 $0.47; Jun 25, 2019 $0.57; Sep 25, 2019 $0.50; Dec 24, 2019 $0.45; Mar 25, 2020 $0.19; Dec 22, 2022 $0.11; Mar 22, 2023 $0.25; Jun 21, 2023 $0.34; Sep 20, 2023 $0.34; Dec 20, 2023 $0.38; Mar 20, 2024 $0.25; Jun 26, 2024 $0.47; Sep 25, 2024 $0.41; Dec 23, 2024 $0.47; Mar 26, 2025 $0.23; Jun 25, 2025 $0.21; Sep 24, 2025 $0.21; Dec 24, 2025 $0.22; Mar 25, 2026 $0.11; Jun 24, 2026 $0.14; Sep 23, 2026 $0.15. Use the arrow keys to read each point.$0$0.502017202020232026YTD

DOG vs DXD Risk

Fall from peak · 5 years

  • DOG
  • DXD
Oct 29, 2021 to Oct 30, 2026. Worst fall: DXD −68.7% · Aug 2026. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
DOG 11.7%, betterDXD 23.2%
Return per unit of riskSharpe ratio, 3 years
DOG −1.21DXD −1.21Same figure. Both funds show the same value, so neither comes out ahead.
Worst fallMax drawdown, 5 years
DOG −37.3%, betterDXD −68.7%
Market sensitivityBeta, 5 years
DOG −0.83DXD −1.66

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