SDS vs LEO

Comparison between ProShares UltraShort S&P500 -2x Shares (SDS, ETF) and BNY Mellon Strategic Municipals Inc (LEO, ETF).

5-Year PerformanceLEO has outperformed SDS, delivering a return of -4.1% compared to -20.4%

SDS vs LEO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SDS(ETF)	LEO(ETF)
Net Assets	$418M	$420M
Max Drawdown	99.90%	54.53%
Sharpe Ratio	-1.28	0.57
5Y Beta	-1.92	0.18
5Y Dividends CAGR	22.27%	-6.11%

Net Assets

SDS

$418M

Winner

LEO

$420M

Max Drawdown

SDS

99.90%

Winner

LEO

54.53%

Sharpe Ratio

SDS

-1.28

Winner

LEO

0.57

5Y Beta

Winner

SDS

-1.92

LEO

0.18

5Y Dividends CAGR

Winner

SDS

22.27%

LEO

-6.11%

SDS vs LEO - Historical Returns

Returns include dividend reinvestment.

Period	SDS	LEO
1 month	-7.66%	-0.65%
3 months	-4.44%	-2.22%
6 months	-19.83%	-2.68%
1 year	-27.07%	+10.17%
5 years(CAGR)	-20.36%	-4.07%
10 years(CAGR)	-27.36%	+0.87%
Max(CAGR)	-25.15%	+4.69%

SDS

-7.66%

Winner

LEO

-0.65%

SDS

-4.44%

Winner

LEO

-2.22%

SDS

-19.83%

Winner

LEO

-2.68%

SDS

-27.07%

Winner

LEO

+10.17%

5Y(CAGR)

SDS

-20.36%

Winner

LEO

-4.07%

10Y(CAGR)

SDS

-27.36%

Winner

LEO

+0.87%

Max(CAGR)

SDS

-25.15%

Winner

LEO

+4.69%

SDS vs LEO - Annual Returns (2001 - 2026)

Returns include dividend reinvestment.

Year	SDS	LEO
2026	-19.84%	+0.05%
2025	-27.18%	+8.40%
2024	-30.24%	+6.40%
2023	-32.17%	-1.05%
2022	+32.17%	-23.74%
2021	-44.54%	+5.05%
2020	-48.99%	+4.86%
2019	-41.12%	+22.72%
2018	+7.54%	-12.42%
2017	-30.97%	+8.83%
2016	-26.29%	+3.50%
2015	-9.61%	+11.03%
2014	-27.06%	+15.50%
2013	-42.30%	-16.60%
2012	-27.66%	+14.70%
2011	-17.21%	+23.10%
2010	-29.93%	+3.15%
2009	-47.35%	+46.92%
2008	+57.43%	-27.48%
2007	-4.12%	-7.07%
2006	-19.87%	+13.96%
2005	N/A	+7.55%
2004	N/A	-7.35%
2003	N/A	+10.84%
2002	N/A	+6.78%
2001	N/A	+22.11%

SDS vs LEO Drawdown Comparison

The maximum drawdown for SDS was -99.86%, occurring on Aug 13, 2026. This drawdown has not yet recovered.

The maximum drawdown for LEO was -47.31%, occurring on Oct 10, 2008. Recovery took 671 trading sessions.

The current SDS drawdown is -99.85%. The current LEO drawdown is -18.76%.

Rank	SDS	LEO
#1	-99.86% Mar 9, 2009 - Aug 13, 2026	-47.31% May 7, 2007 - Jan 5, 2010
#2	-41.04% Nov 20, 2008 - Mar 5, 2009	-41.48% Aug 27, 2021 - Oct 25, 2023
#3	-33.06% Jul 17, 2006 - Jul 11, 2008	-30.28% Feb 25, 2020 - Feb 5, 2021
#4	-31.02% Oct 27, 2008 - Nov 20, 2008	-23.62% Jan 8, 2013 - Nov 3, 2015
#5	-22.44% Oct 10, 2008 - Oct 27, 2008	-21.68% Jan 21, 2004 - Sep 7, 2005
#6	-14.92% Jul 15, 2008 - Sep 17, 2008	-19.81% Sep 10, 2010 - Oct 12, 2011
#7	-13.57% Sep 17, 2008 - Sep 29, 2008	-17.32% Aug 1, 2017 - Jul 2, 2019
#8	-8.50% Sep 29, 2008 - Oct 3, 2008	-12.16% Jul 8, 2016 - Jul 11, 2017
#9	-0.43% Mar 5, 2009 - Mar 9, 2009	-11.77% Oct 1, 2002 - Apr 29, 2003
#10	N/A	-11.61% Jun 12, 2003 - Jan 7, 2004
#11	N/A	-9.85% Aug 28, 2001 - Dec 31, 2001
#12	N/A	-8.30% Sep 7, 2005 - Mar 29, 2006
#13	N/A	-6.69% Mar 12, 2012 - May 9, 2012
#14	N/A	-6.02% Nov 29, 2012 - Jan 8, 2013
#15	N/A	-5.98% Dec 31, 2001 - Apr 5, 2002

Correlation

Correlation between SDS and LEO is -0.87 which considered as a strong negative correlation - the stocks tend to move in opposite directions.

-0.87

-101

Dividend Comparison (2001 - 2026)

SDS vs LEO dividend yield comparison.

Year	SDS	LEO
2026	1.91%	3.52%
2025	5.88%	4.03%
2024	7.89%	3.77%
2023	5.77%	4.37%
2022	0.35%	5.66%
2021	0.00%	4.84%
2020	0.92%	4.95%
2019	1.84%	4.94%
2018	1.28%	5.96%
2017	0.09%	5.97%
2016	0.00%	6.14%
2015	0.00%	6.04%
2014	0.00%	7.11%
2013	0.00%	7.74%
2012	0.00%	6.16%
2011	0.00%	6.61%
2010	0.00%	7.54%
2009	0.00%	6.32%
2008	22.43%	8.94%
2007	3.30%	6.13%
2006	1.24%	5.03%
2005	0.00%	6.51%
2004	0.00%	7.38%
2003	0.00%	7.32%
2002	0.00%	7.14%
2001	0.00%	5.74%