# SDD (ProShares UltraShort SmallCap600)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: SDD returned +18.6% where its own daily promise gave +15.6%, 3.0 points over.

## Key facts

- SDD, what IJR did: −7.5%, as of Sep 30, 2026.
- SDD, what −2 times a day gives: +15.6%, as of Sep 30, 2026.
- SDD, what the fund returned: +18.6%, as of Sep 30, 2026.
- SDD, the fund itself added: +3.0 pts, as of Sep 30, 2026.
- SDD, net assets: $2m (issuer page, as of Sep 30, 2026).
- SDD, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## SDD over each window to Sep 30, 2026

| Window | Fund | IJR | -2x the move | Difference | IJR moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +12.4% | −5.5% | +11.1% | +1.4 pts | 9% |
| 3 months | +18.6% | −7.5% | +14.9% | +3.7 pts | 12% |
| 6 months | −15.1% | +9.6% | −19.3% | +4.2 pts | 14% |
| 1 year | −24.6% | +16.0% | −31.9% | +7.4 pts | 16% |
| 3 years | −57.1% | +51.1% | −102.2% | +45.0 pts | 20% |
| Since launch | −99.7% | +514.6% | not meaningful over this window | not meaningful over this window | 22% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of IJR, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -2.5 times, against -2 stated | ETFIQ |
| Underlying | IJR | ETFIQ |
| Segment | broad index, US small cap | ETFIQ |
| Net assets | $2m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 12% annualized | ETFIQ |

## Questions

### Did SDD return -2 times IJR?

Over the window to Sep 30, 2026, IJR moved −7.5% and SDD returned +18.6%. −2 times that move is +14.9%, so the fund came out 3.7 points ahead of it.

### Why does SDD not return -2 times over a year?

Because it resets daily. SDD aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, SDD, data as of Sep 30, 2026. https://etfiq.com/funds/sdd
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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