DOG vs SARK

DOGBProShares Short Dow30

SARKCTradr 1X Short Innovation Daily 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.

SARK The original anti-ARKK trade. Launched in 2021 as the first US ETF built to short another ETF, SARK uses swaps to aim for the inverse of the ARK Innovation ETF's move over a single day, then resets overnight. A trading tool, not a hold.

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.

SARK The Fund seeks daily inverse exposure to the ARK Innovation ETF for one trading day, using swaps and daily repositioning. It is intended for sophisticated, actively managed trading or hedging strategies.

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.

• SARK First of its kind: at launch it was the first US ETF offering short exposure to another ETF, and it still delivers that exposure through swaps rather than a margin account and borrowed shares.sec.govwikipedia.org
• One job, done tightly: daily inverse exposure to the ARK Innovation ETF, and it has stayed close to that one-day target. That lands it in the upper half of a crowded inverse field.
• Costs 0.99% a year, with no waiver propping the number up, which sits near the category median for inverse funds. Index shorts like PSQ and DOG aim at benchmarks; this one aims at a stock picker.

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

• SARK The clock resets every session. Hold past a day and the path of ARK Innovation's moves, not just its direction, shapes your result.tradretfs.com
• Exposure comes from swap contracts with financial institutions, so counterparty risk rides alongside market risk.sec.govtradretfs.com
• The target moves. You are positioned against an actively managed portfolio whose holdings ARK can reshuffle, so what you are short today may not be what you are short next quarter.wikipedia.org

Full DOG profile⁠

Full SARK profile⁠