DUG vs ERY: which held to its multiple?
Over the days both have traded, DUG finished 6.3 points from its stated multiple and ERY 6.5. ProShares UltraShort Energy and Direxion Daily Energy Bear 2X ETF.
DUG returned −28.0% while −2 times XLE's move would have been −34.3%
ERY returned −27.8% while −2 times XLE's move would have been −34.3%
A percentile among the 125 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
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | DUG | ERY | DUG | ERY | DUG | ERY |
| 1 month | +6.7% | +6.8% | +6.5% | +6.5% | +0.1 pts | +0.3 pts |
| 3 months | −28.0% | −27.8% | −34.3% | −34.3% | +6.3 pts | +6.5 pts |
| 6 months | −13.2% | −12.8% | −11.3% | −11.3% | −1.8 pts | −1.5 pts |
| 1 year | −52.3% | −52.0% | −83.2% | −83.2% | +30.9 pts | +31.1 pts |
| 3 years | −57.9% | −57.0% | −99.1% | −99.1% | +41.2 pts | +42.1 pts |
| Since launch DUG Jan 2010 · ERY Jan 2010 | −99.6% | −99.9% | not meaningful | not meaningful | not meaningful | not meaningful |
DUG and ERY over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
DUG and ERY on the same fields, as of Sep 30, 2026. Source: ETFIQ.
DUG in plain words
Three months to Sep 30, 2026: DUG returned −28.0% where its own daily promise gave −29.7%, 1.7 points over. Read the multiple against the whole window instead and −2 times XLE's 17.2% implies −34.3%, which makes DUG look 6.3 points over. 4.6 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. DUG aims to return -2 times XLE's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -2 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. XLE moved at 21% 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.
ERY in plain words
Three months to Sep 30, 2026: ERY returned −27.8% where its own daily promise gave −29.7%, 1.8 points over. Read the multiple against the whole window instead and −2 times XLE's 17.2% implies −34.3%, which makes ERY look 6.5 points over. ERY aims to return -2 times XLE's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, DUG or ERY?
- Over the window to Sep 30, 2026, DUG finished 6.3 points from what its multiple implies and ERY finished 6.5 points from its own, so DUG came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are DUG and ERY levered on the same thing?
- Yes. Both are levered on energy, DUG at -2 times and ERY at -2 times the daily move.
- Which one decays faster, DUG or ERY?
- Decay follows how much the underlying moves about. Over this window DUG’s moved at 21% annualized and ERY’s at 21%, so DUG has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold DUG or ERY 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.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, DUG against ERY, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/dug-vs-ery
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, DUG against ERY, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/dug-vs-ery Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, DUG against ERY, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/dug-vs-ery
- APA
- ETFIQ. (Sep 30, 2026). DUG against ERY. Retrieved from https://etfiq.com/compare/leverage/dug-vs-ery
- Markdown
- [DUG against ERY (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/dug-vs-ery)