ProShares UltraShort Oil & Gas

10-Year Study

DUG.US · · US · ETF

Executive Summary: ProShares UltraShort Oil & Gas has compounded at -32.0% annually over the last 10 years, with a maximum drawdown of 99.0% and an annualized volatility of 80.2%.

1Y CAGR
-54.8%
3Y CAGR
-29.2%
5Y CAGR
-39.4%
10Y CAGR
-32.0%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
99.0%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
-0.48
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
-0.75
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
53.9%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2018 · +36.1%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2022 · -73.0%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
10%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
2026-23.8-17.2-18.016.2————————-39.9%
2025-4.3-7.2-6.725.1-2.2-9.0-5.2-6.00.72.9-4.90.5-18.6%
20241.2-5.6-17.62.61.52.7-3.74.76.4-1.6-13.922.7-6.1%
2023-6.214.5-1.0-5.822.9-12.4-14.2-2.8-4.612.11.7-0.1-2.3%
2022-28.7-14.7-19.41.5-27.535.1-20.3-8.416.9-36.2-4.46.7-73.0%
2021-10.4-34.7-8.5-2.8-12.6-11.215.81.3-18.4-19.28.4-5.9-68.1%
202026.034.050.5-49.0-10.1-7.45.2-0.232.64.0-45.9-10.9-24.6%
2019-20.6-4.1-4.90.026.9-16.24.117.8-8.23.8-3.7-11.8-23.5%
2018-6.722.9-4.7-17.3-7.2-2.0-2.55.9-5.126.23.629.336.1%
20176.64.51.46.77.30.2-5.011.6-17.81.4-4.2-9.8-1.1%
2016———-17.11.6-7.23.5-3.5-7.86.8-17.5-3.6-39.0%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 80.2%. The dominant macroeconomic risk driver is SHV.US, accounting for 68.5% of variance. Idiosyncratic stock-specific factors contribute 6.0%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-018287.158208190418
2016-05-018420.794132996618
2016-06-017811.277608059202
2016-07-018081.812527545623
2016-08-017794.981001192679
2016-09-017183.832941318252
2016-10-017669.491505569381
2016-11-016324.967085820893
2016-12-016098.158427196573
2017-01-016500.977936980768
2017-02-016791.068784707016
2017-03-016885.592853033563
2017-04-017343.546248486426
2017-05-017881.355828960785
2017-06-017894.230991797999
2017-07-017498.370573594642
2017-08-018370.273714585219
2017-09-016883.963192346911
2017-10-016981.747519171941
2017-11-016685.1370915739035
2017-12-016031.616916721341
2018-01-015625.814537491708
2018-02-016913.29895895701
2018-03-016585.724041187401
2018-04-015444.915641397055
2018-05-015050.521824099168
2018-06-014951.107836587485
2018-07-014828.8785994626705
2018-08-015115.711062940794
2018-09-014854.690775398927
2018-10-016128.292624459361
2018-11-016351.703267183853
2018-12-018211.339158440973
2019-01-016522.980699063522
2019-02-016258.204413803366
2019-03-015951.425240885684
2019-04-015951.448990236784
2019-05-017553.446867247047
2019-06-016327.456740976573
2019-07-016589.597261917608
2019-08-017762.682484958496
2019-09-017124.970058850524
2019-10-017392.443110337094
2019-11-017121.687489634517
2019-12-016284.18505446349
2020-01-017920.963065001849
2020-02-0110616.063354652306
2020-03-0115979.190030612834
2020-04-018143.288921270111
2020-05-017324.686855008953
2020-06-016780.594858715728
2020-07-017135.651135264485
2020-08-017120.8581246993
2020-09-019441.875362235487
2020-10-019819.946229748608
2020-11-015315.987288970246
2020-12-014739.019838620836
2021-01-014244.242167363523
2021-02-012773.057733681769
2021-03-012537.9974078151135
2021-04-012465.670779718108
2021-05-012154.996394743992
2021-06-011913.360777874563
2021-07-012215.8162993346327
2021-08-012245.4046083682715
2021-09-011832.8152862635113
2021-10-011481.04644072521
2021-11-011605.9738239109017
2021-12-011510.634177783031
2022-01-011076.6763396193821
2022-02-01917.8870585834376
2022-03-01739.7013626099913
2022-04-01750.8790570274012
2022-05-01544.4202031669415
2022-06-01735.4274878054682
2022-07-01586.1721856817063
2022-08-01536.8587186095206
2022-09-01627.595389346937
2022-10-01400.09615480432774
2022-11-01382.34338387507626
2022-12-01408.12576581979465
2023-01-01382.741514792469
2023-02-01438.12525396916004
2023-03-01433.82185091306417
2023-04-01408.5377671507591
2023-05-01502.0223169603879
2023-06-01439.9681958012825
2023-07-01377.5946976451415
2023-08-01367.19907291254793
2023-09-01350.14414822900204
2023-10-01392.3911400652302
2023-11-01399.1507860236461
2023-12-01398.83469788756037
2024-01-01403.63582715025217
2024-02-01381.00202908631707
2024-03-01313.9880911236825
2024-04-01322.2781298785053
2024-05-01327.11407816908076
2024-06-01335.79570586788486
2024-07-01323.43723887244823
2024-08-01338.62040844207047
2024-09-01360.3257110119371
2024-10-01354.58915104839076
2024-11-01305.20118412598987
2024-12-01374.4226985043337
2025-01-01358.15138069061356
2025-02-01332.2444510116582
2025-03-01310.02097409972407
2025-04-01387.91525055170246
2025-05-01379.311197073132
2025-06-01345.0459490261528
2025-07-01326.9874927709944
2025-08-01307.27052113633346
2025-09-01309.431338528971
2025-10-01318.5267907316576
2025-11-01303.02739003199525
2025-12-01304.6593800329662
2026-01-01232.12591118099672
2026-02-01192.29808677460537
2026-03-01157.62445514370674
2026-04-01183.1142600183133
Annual Return Matrix
YearAnnual Return
2017-0.010911738563312845
20180.3613827389595694
2019-0.23469425227630925
2020-0.2458815586191505
2021-0.681234890499496
2022-0.7298315026747575
2023-0.02276520795880521
2024-0.06120831390178827
2025-0.18632235371958905
2026-0.3989541369167787
Total Factor Risk
0.8022229352559241
VTI.US Exposure
-0.006576427614496998
VEA.US Exposure
-0.00038543707076296605
VWO.US Exposure
-0.0008951930704149159
QQQ.US Exposure
0.005018013113728389
VTV.US Exposure
0.11155558692986493
IJR.US Exposure
0.02947038536010196
QUAL.US Exposure
0.00407716230517531
SHV.US Exposure
0.6845824881859279
TLT.US Exposure
0.008853064262198285
LQD.US Exposure
0.002416835200735882
HYG.US Exposure
-0.0006382443119312785
GLD.US Exposure
0.0008515677686974368
USO.US Exposure
0.09649568406718587
VNQ.US Exposure
-0.005575391234121056
BTC-USD.CC Exposure
0.0006167765548582994
CPER.US Exposure
0.00783446794584422
VIX.INDX Exposure
-0.0032117745005779763
UUP.US Exposure
0.005529529515020419
TIP.US Exposure
0.00020295607773577188
Idiosyncratic Exposure
0.059777950515230764
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
61
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
80.2%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →5.08%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$1
Avg Yield on Cost
0.01%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$0.790.01%Solid

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
-1.1%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
-34.4%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
54.6% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
-0.73
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is ProShares UltraShort Oil & Gas a high-risk investment?

ProShares UltraShort Oil & Gas (DUG.US) has an annualized volatility of 80.2% and experienced a maximum drawdown of 99.0% over the last 10 years. Its primary macro risk driver is SHV.US.

What is the 10-year return of DUG.US?

Over the past 10 years, DUG.US has generated a Compound Annual Growth Rate (CAGR) of -32.0%. It has had a positive return in 10% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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