DOG vs SSG: Grades, Fees and Holdings Compared

ProShares Short Dow30

DOGBNYSE Arca

ProShares UltraShort Semiconductors

SSGCNYSE Arca

Overlap

82.4%by weight

Expense ratio

DOG0.95%SSG0.95%

Avg volume · 30D

DOG 6.5×the volume

DOG5.25MSSG813K

10Y return · a year

DOG +48.8pt

DOG−10.8%SSG−59.6%

DOG vs SSG Performance

Nov 9, 2021 – Nov 9, 2026

−20.6%DOG−99.1%SSG

Expense ratio: DOG 0.95%; SSG 0.95%
Fund size: DOG $123M; SSG $50M
1Y total return: DOG −7.4%, better; SSG −49.6%
Yield (12M): DOG 3.19%; SSG 5.65%, better
Holdings: DOG 3; SSG 2
Avg volume (30D): DOG 5.25M sh, better; SSG 813K sh
NAV per share: DOG $22.21; SSG $16.56
52W range

ETF.net Grade

Pillar letters and Scores for DOG, SSG, with each pillar’s weight
Pillar	DOG	SSG
Cost30% weight	C50	C50
Mission25% weight	A95	Not scored
Risk15% weight	A70Higher	F17
Tradability15% weight	A93Higher	B62
Holdings10% weight	C44	C44
Durability5% weight	B68Higher	B63

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›

Same Category. DOG and SSG 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 SSG 27th of 53 funds in the Leveraged Inverse (2x & Other) Category.

Rank 1BDOGProShares Short Dow30Score 65
Rank 1BPSQProShares Short QQQScore 65
Rank 25CETHDProShares UltraShort Ether ETFScore 47
Rank 27CSSGProShares UltraShort SemiconductorsScore 46
Rank 28CEPVProShares UltraShort FTSE EuropeScore 43

Our read on each fund

ETF.net Research

DOGBProShares Short Dow30

SSGCProShares UltraShort Semiconductors

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.

SSG Chip stocks cut both ways. SSG is ProShares' -2x daily short on the Dow Jones U.S. Semiconductors Index, built one trading day at a time and live since 2007. Fee: 0.95% net of a waiver through September 30, 2027 (1.33% gross).

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.

SSG The fund targets daily, pre-fee and pre-expense returns that are twice the opposite of the Dow Jones U.S. Semiconductors SM Index's daily performance.

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.

SSG Targets twice the inverse of the Dow Jones U.S. Semiconductors Index each day, before fees: a defined, mechanical way to express a bearish chip view in a regular brokerage account.proshares.com
Listed in January 2007, so it has traded through multiple full semiconductor cycles, long before the AI-chip era. ProShares bills it as its only -2x fund on the chip industry.proshares.com
0.95% net of a waiver through September 30, 2027 (1.33% gross) sits near the category median and level with ProShares' DOG and PSQ at 0.95% net, each waived to the same date.

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

SSG The leverage resets daily. Hold longer and results follow the compounded path, not -2x the period move; in choppy or rising chip tape that gap widens.proshares.com
Double leverage on a single, famously volatile industry means outsized moves in both directions. ProShares' own materials frame these funds as positions to monitor daily.proshares.com
It is a small fund that pays quarterly, and the 1.33% gross fee is what applies if the waiver is not extended past September 30, 2027.

Full DOG profile⁠

Full SSG profile⁠

DOG vs SSG Holdings

How DOG and SSG differ

Overlap by weight

82.4%

Shared holdings make up 84.3% of SSG and 82.4% of DOG.

About this figure: DOG gets much of its exposure from swaps and futures, which aren’t counted.

SSG gets much of its exposure from swaps and futures, which aren’t counted.

Level by level

Holdings1 in both82.4%
Asset classStocks100%
Countryby domicile100%
Sector1 Sector100%

Sector

Sector weights in DOG and SSG, widest gap first
Sector	More in DOGMore in SSG	Gap	DOG	SSG
Government		Same weight	100.0%	100.0%

Country, concentration and asset class

Country by domicile

Country weights in DOG and SSG, widest gap first
Country	More in DOGMore in SSG	Gap	DOG	SSG
United States		Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

DOG100.0%
SSG100.0%

Securities held

DOG2
SSG1

Asset class

DOG: Stocks
SSG: Stocks

Holdings

Only in DOG1
In both1
Only in SSG0

Only in DOG

1 security, 4.1% of DOG by weight

TREASURY BILL, 0%, due 2026-12-174.10%

Only in SSG

0 securities, 0.0% of SSG by weight

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in DOG and SSG, widest gap first
Holding	More in DOGMore in SSG	Gap	DOG	SSG
Proshares Genius Mny Mkt EtfIQMM		SSG +1.98 points	82.35%	84.33%

All 12 DOG holdings⁠All 11 SSG 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 SSG 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
SSG 0.95%
$17,869

Amount$10,000

Years30 years

Cost over time

DOG 0.95%
SSG 0.95%

Year by year

Year	DOG	SSG
10	$1,678	$1,678
20	$6,322	$6,322
30	$17,869	$17,869

Expense ratio

0.95%DOG
0.95%SSG

DOG0.95%SSG0.95%

0.50%1.47%

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

DOG 6th cheapest of 53 funds

SSG 6th cheapest of 53 funds

DOG vs SSG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): DOG 3.19%; SSG 5.65%, better
Payout (12M): DOG $0.69; SSG $0.89
Last payment: DOG $0.17; SSG $0.14
Ex-dividend: DOG Sep 23, 2026; SSG Sep 23, 2026
Paid on: DOG Sep 29, 2026; SSG Sep 29, 2026
Frequency: DOG Quarterly; SSG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DOGQuarterly · 26 paymentsAll DOG payments⁠

SSGQuarterly · 24 paymentsAll SSG payments⁠

DOG vs SSG Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: DOG 11.7%, betterSSG 56.0%
Return per unit of riskSharpe ratio, 3 years: DOG −1.21, betterSSG −2.03
Worst fallMax drawdown, 5 years: DOG −37.3%, betterSSG −99.7%
Market sensitivityBeta, 5 years: DOG −0.83SSG −3.47; Market = 1

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