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SDOW vs YANG

ProShares UltraPro Short Dow30

SDOWANYSE Arca

Direxion Daily FTSE China Bear 3X ETF

YANGCNYSE Arca

Overlap

Expense ratio

SDOW −0.08pt a year

SDOW0.95%YANG1.03%

Avg volume · 30D

SDOW 5.7×the volume

SDOW3.85MYANG676K

10Y return · a year

YANG +2.5pt

SDOW−37.6%YANG−35.1%

SDOW vs YANG Performance

Oct 29, 2021 – Oct 30, 2026

−73.1%SDOW−88.1%YANG

Oct 29, 2021 to Oct 30, 2026. SDOW −73.1%. YANG −88.1%. Use the arrow keys to read each point.−50%0%50%100%Oct 2021Apr 2024Oct 2026
Expense ratio
SDOW 0.95%, better
YANG 1.03%
Fund size
SDOW $154M
YANG $83M
1Y total return
SDOW −21.9%
YANG +53.4%, better
Yield (12M)
SDOW 4.76%, better
YANG 2.83%
Holdings
SDOW 10
YANG 4
Avg volume (30D)
SDOW 3.85M sh, better
YANG 676K sh
NAV per share
SDOW $25.01
YANG $36.00
52W range

ETF.net Grade

SDOW: Cost 84, Risk 69, Mission 78, Tradability 81, Holdings 0, Durability 67. YANG: Cost 42, Risk 70, Mission not scored, Tradability 27, Holdings not scored, Durability 53.
Pillar letters and Scores for SDOW, YANG, with each pillar’s weight
PillarSDOWYANG
Cost30% weightA84HigherC42
Mission25% weightA78Not scored
Risk15% weightB69A70Higher
Tradability15% weightA81HigherD27
Holdings10% weightF0Not scored
Durability5% weightB67HigherC53

Rank among 3x Leveraged Inverse funds

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

Same Category. SDOW and YANG are both graded against the same 14 3x Leveraged Inverse funds, so their Grades compare head to head.

3x Leveraged Inverse⁠

Category · 14 funds
See all 14 ›

SDOW ranks 2nd and YANG 8th of 14 funds in the 3x Leveraged Inverse Category.

  1. Rank 1ASQQQProShares UltraPro Short QQQScore 83
  2. Rank 2ASDOWProShares UltraPro Short Dow30Score 78
  3. Rank 3ASRTYProShares UltraPro Short Russell2000Score 71
  4. Rank 7CTECSDirexion Daily Technology Bear 3X ETFScore 46
  5. Rank 8CYANGDirexion Daily FTSE China Bear 3X ETFScore 45
  6. Rank 9CSMDDProShares UltraPro Short MidCap400Score 40

Our read on each fund

ETF.net Research

SDOWAProShares UltraPro Short Dow30

YANGCDirexion Daily FTSE China Bear 3X ETF

In short

SDOW The only -3x ETF pointed at the Dow. SDOW aims to deliver three times the inverse of the index's daily move, reset at each close, for 0.95% net of a waiver through September 30, 2027.

YANG The blunt instrument for a rough day in Chinese equities. YANG aims for -300% of the FTSE China 50's daily move, resets every night, and has been running that playbook since 2009. Built for a day, not a decade.

Stated mandate

SDOW SDOW seeks daily investment results, before fees and expenses, corresponding to three times the inverse of the daily performance of the Dow Jones Industrial Average.

YANG The fund seeks daily investment results, before fees and expenses, equal to -300% of the FTSE China 50 Index. Its objective applies to a single day and is not intended to provide negative three-times cumulative performance over longer periods.

Why people hold it

  • SDOW ProShares calls it the only -3x ETF built to move against the Dow's daily price, so a bearish view on the 30 blue chips has one address, not a Nasdaq or small-cap stand-in.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (0.98% gross) lands below the 3x bear median, next to SQQQ at 0.94% and SRTY at 0.95% net of a waiver through the same date.
  • Running since 2010 and actively traded, it sits among the stronger implementations in the 3x bear group, which matters for a tool used in days rather than years.
  • YANG Costs 1.03% a year, below the typical leveraged bear fund and well under the other US funds shorting this same index (FXP at 1.79%, YXI at 2.65%).
  • Aims for -300% of the index's daily move, so expressing a bearish view ties up a fraction of the capital an unleveraged short position would.
  • Short exposure in a plain brokerage account: no margin agreement, no locating shares to borrow, no losses beyond the amount invested.direxion.com
  • Launched in December 2009 and actively traded since, making it one of the more established ways to short large Hong Kong-listed Chinese names.direxion.com

Worth knowing

  • SDOW The -3x target is a one-day target. Held longer, compounding can push results away from -3x the Dow's move over the same stretch, especially after choppy markets.proshares.com
  • Leverage cuts both ways: on a day the Dow rises, the fund is designed to lose roughly three times as much.proshares.com
  • Exposure comes from swaps and futures rather than Dow shares, and the fee runs above a plain Dow index fund.proshares.com
  • YANG The -3x objective applies to one day only. Hold longer and the nightly reset makes results path-dependent, especially in choppy markets.
  • Leverage cuts both ways: an up day in the FTSE China 50 hits roughly three times as hard here.
  • That 1.03% fee is cheap for this corner of the market but many times a plain index fund's, and it accrues daily whether the trade works or not.

Full SDOW profile⁠

Full YANG profile⁠

SDOW vs YANG 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.

SDOW vs YANG Cost

Overpaying YANG vs SDOW

$1,304

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

  • SDOW 0.95%

    $17,869

  • YANG 1.03%

    $19,173

$10,000
30 years

Cost over time

  • SDOW 0.95%
  • YANG 1.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530YANG $19,173SDOW $17,869

Year by year

YearSDOWYANGOverpaying
10$1,678$1,814$136
20$6,322$6,807$485
30$17,869$19,173$1,304

Expense ratio

  • 0.95%SDOW, cheaper
  • 1.03%YANG
  • Middle half of 3x Leveraged Inverse funds
  • Median 1.02%

SDOW 2nd cheapest of 14 funds

YANG 8th cheapest of 14 funds

SDOW vs YANG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SDOW 4.76%, better
YANG 2.83%
Payout (12M)
SDOW $1.19
YANG $0.98
Last payment
SDOW $0.29
YANG $0.27
Ex-dividend
SDOW Sep 23, 2026
YANG Sep 22, 2026
Paid on
SDOW Sep 29, 2026
YANG Sep 29, 2026
Frequency
SDOW Quarterly
YANG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SDOWQuarterly · 26 paymentsAll SDOW payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $1.10; Mar 21, 2018 $2.04; Jun 20, 2018 $2.87; Sep 26, 2018 $3.60; Dec 26, 2018 $6.62; Mar 20, 2019 $2.73; Jun 25, 2019 $4.55; Sep 25, 2019 $3.69; Dec 24, 2019 $2.27; Mar 25, 2020 $1.06; Dec 22, 2022 $0.39; Mar 22, 2023 $0.88; Jun 21, 2023 $1.03; Sep 20, 2023 $1.03; Dec 20, 2023 $1.01; Mar 20, 2024 $1.01; Jun 26, 2024 $1.10; Sep 25, 2024 $0.93; Dec 23, 2024 $1.17; Mar 26, 2025 $0.61; Jun 25, 2025 $0.39; Sep 24, 2025 $0.41; Dec 24, 2025 $0.44; Mar 25, 2026 $0.24; Jun 24, 2026 $0.22; Sep 23, 2026 $0.29. Use the arrow keys to read each point.$0$52017202020232026YTD
YANGQuarterly · 23 paymentsAll YANG payments⁠
One bar per payment. 23 payments from 2017 to 2026 YTD. Mar 20, 2018 $1.05; Sep 25, 2018 $2.28; Dec 27, 2018 $4.19; Mar 19, 2019 $2.91; Jun 25, 2019 $3.80; Sep 24, 2019 $3.39; Dec 23, 2019 $1.91; Mar 24, 2020 $0.01; Mar 21, 2023 $3.17; Jun 21, 2023 $1.59; Sep 19, 2023 $1.80; Dec 21, 2023 $2.81; Mar 19, 2024 $1.91; Jun 25, 2024 $2.32; Sep 24, 2024 $1.63; Dec 23, 2024 $0.74; Mar 25, 2025 $0.26; Jun 24, 2025 $0.27; Sep 23, 2025 $0.21; Dec 23, 2025 $0.29; Mar 24, 2026 $0.26; Jun 23, 2026 $0.16; Sep 22, 2026 $0.27. Use the arrow keys to read each point.$0$52017202020232026YTD

SDOW vs YANG Risk

Fall from peak · 5 years

  • SDOW
  • YANG
Oct 29, 2021 to Oct 30, 2026. Worst fall: YANG −97.4% · Oct 2025. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
SDOW 34.4%, betterYANG 58.3%
Return per unit of riskSharpe ratio, 3 years
SDOW −1.22YANG −0.77, better
Worst fallMax drawdown, 5 years
SDOW −85.1%, betterYANG −97.4%
Market sensitivityBeta, 5 years
SDOW −2.46YANG −0.96

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