Data as of .
SDOW vs UDOW: which held to its multiple?
Over three months against its own daily promise, SDOW finished 2.9 points over and UDOW 2.2 points short.
ETFIQ Decay Resistance Score: SDOW scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 121 inverse ETFs over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| SDOW | UDOW | SDOW | UDOW | SDOW | UDOW | |
| 1 month | +7.1% | −7.0% | +6.1% | −6.1% | +1.0 pts | −0.9 pts |
| 3 months | −7.0% | +5.6% | −8.6% | +8.6% | +1.6 pts | −3.0 pts |
| 6 months | −30.6% | +36.0% | −40.6% | +40.6% | +9.9 pts | −4.5 pts |
| 1 year | −31.9% | +33.4% | −46.7% | +46.7% | +14.8 pts | −13.4 pts |
| 3 years | −70.4% | +141.0% | −176.8% | +176.8% | +106.4 pts | −35.8 pts |
| Since launch | −100.0% | +4555.1% | not meaningful | not meaningful | not meaningful | not meaningful |
| SDOW ProShares UltraPro Short Dow30 Aims to return three times the opposite of the daily move of the Dow 30 | UDOW ProShares UltraPro Dow30 Aims to return three times the daily move of the Dow 30 | |
|---|---|---|
| Issuer | ProShares | ProShares |
| Sets out to return | -3x | +3x |
| On | DIA | DIA |
| Segment | us large cap | us large cap |
| Fund returned, 3 months | −7.0% | +5.6% |
| Underlying returned, 3 months | +2.9% | +2.9% |
| What the stated multiple implies, 3 months | −8.6% | +8.6% |
| Difference from stated, 3 months | +1.6 pts | −3.0 pts |
| Fund returned, 1 year or since launch | −31.9% | +33.4% |
| Difference from stated, over that window | +14.8 pts | −13.4 pts |
| Underlying volatility | 11% | 11% |
| Expense ratio | 0.95% | 0.95% |
| Launched | Feb 11, 2010 | Feb 11, 2010 |
SDOW in plain words
Three months to Sep 11, 2026: SDOW returned −7.0% where its own daily promise gave −9.9%, 2.9 points over. Read the multiple against the whole window instead and −3 times DIA's 2.9% implies −8.6%, which makes SDOW look 1.6 points over. 1.3 of that is daily compounding, which happens to any −3 times fund over the same path, and the rest is the fund. SDOW aims to return -3 times DIA's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -3 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. DIA moved at 11% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
UDOW in plain words
Three months to Sep 11, 2026: UDOW returned +5.6% where its own daily promise gave +7.8%, 2.2 points short. Read the multiple against the whole window instead and +3 times DIA's 2.9% implies +8.6%, which makes UDOW look 3.0 points short. 0.8 of that is daily compounding, which happens to any +3 times fund over the same path, and the rest is the fund. UDOW aims to return +3 times DIA's move each day, then resets. Over longer, the daily results compound, so the total is not +3 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, SDOW or UDOW?
- Over the window to Sep 11, 2026, SDOW finished 1.6 points from what its multiple implies and UDOW finished 3.0 points from its own, so SDOW came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SDOW and UDOW levered on the same thing?
- Yes. Both are levered on the Dow 30, SDOW at -3 times and UDOW at +3 times the daily move.
- Which one decays faster, SDOW or UDOW?
- Decay follows how much the underlying moves about. Over this window SDOW’s moved at 11% annualized and UDOW’s at 11%, so SDOW has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SDOW or UDOW for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, SDOW or UDOW?
- SDOW charges 0.95% a year and UDOW charges 0.95%, so SDOW is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, SDOW against UDOW, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/SDOW-UDOW Free to use with attribution; the underlying files are at Open data.