SDS vs PAPI
Comparison between ProShares UltraShort S&P500 -2x Shares (SDS, ETF) and PARAMETRIC EQUITY PREMIUM INCOME ETF (PAPI, ETF).
SDS vs PAPI - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
SDS
$398M
Winner
PAPI
$400M
Expense Ratio
SDS
N/A
PAPI
0.29%
Max Drawdown
SDS
99.89%
Winner
PAPI
16.74%
Sharpe Ratio
SDS
-1.27
Winner
PAPI
1.10
5Y Beta
Winner
SDS
-1.92
PAPI
0.41
P/E Ratio
SDS
N/A
PAPI
21.56
Forward P/E
SDS
N/A
PAPI
15.44
PEG Ratio
SDS
N/A
PAPI
0.52
5Y Dividends CAGR
SDS
22.27%
PAPI
N/A
5Y EPS CAGR
SDS
N/A
PAPI
7.38%
Debt to Equity
SDS
N/A
PAPI
0.49%
P/S Ratio
SDS
N/A
PAPI
1.28
P/B Ratio
SDS
N/A
PAPI
2.50
SDS vs PAPI - Historical Returns
Returns include dividend reinvestment.
1M
SDS
-0.50%
Winner
PAPI
+4.49%
3M
SDS
-10.66%
Winner
PAPI
+4.49%
6M
SDS
-15.07%
Winner
PAPI
+5.25%
1Y
SDS
-26.57%
Winner
PAPI
+16.05%
5Y(CAGR)
SDS
-20.67%
PAPI
N/A
10Y(CAGR)
SDS
-27.05%
PAPI
N/A
Max(CAGR)
SDS
-25.06%
Winner
PAPI
+11.57%
SDS vs PAPI - Annual Returns (2006 - 2026)
Returns include dividend reinvestment.
| Year | SDS | PAPI |
|---|---|---|
| 2026 | -15.42% | +10.04% |
| 2025 | -27.18% | +6.57% |
| 2024 | -30.24% | +8.40% |
| 2023 | -32.17% | +5.35% |
| 2022 | +32.17% | N/A |
| 2021 | -44.54% | N/A |
| 2020 | -48.99% | N/A |
| 2019 | -41.12% | N/A |
| 2018 | +7.54% | N/A |
| 2017 | -30.97% | N/A |
| 2016 | -26.29% | N/A |
| 2015 | -9.61% | N/A |
| 2014 | -27.06% | N/A |
| 2013 | -42.30% | N/A |
| 2012 | -27.66% | N/A |
| 2011 | -17.21% | N/A |
| 2010 | -29.93% | N/A |
| 2009 | -47.35% | N/A |
| 2008 | +57.43% | N/A |
| 2007 | -4.12% | N/A |
| 2006 | -19.87% | N/A |
SDS vs PAPI Drawdown Comparison
The maximum drawdown for SDS was -99.85%, occurring on Jun 2, 2026. This drawdown has not yet recovered.
The maximum drawdown for PAPI was -14.28%, occurring on Apr 8, 2025. Recovery took 260 trading sessions.
The current SDS drawdown is -99.85%. The current PAPI drawdown is -0.79%.
| Rank | SDS | PAPI |
|---|---|---|
| #1 | -99.85% Mar 9, 2009 - Jun 2, 2026 | -14.28% Nov 25, 2024 - Dec 10, 2025 |
| #2 | -41.04% Nov 20, 2008 - Mar 5, 2009 | -6.87% Mar 2, 2026 - Jul 16, 2026 |
| #3 | -33.06% Jul 17, 2006 - Jul 11, 2008 | -4.39% Mar 28, 2024 - May 17, 2024 |
| #4 | -31.02% Oct 27, 2008 - Nov 20, 2008 | -4.17% Jul 30, 2024 - Aug 29, 2024 |
| #5 | -22.44% Oct 10, 2008 - Oct 27, 2008 | -3.89% May 17, 2024 - Jul 16, 2024 |
| #6 | -14.92% Jul 15, 2008 - Sep 17, 2008 | -3.03% Oct 18, 2024 - Nov 21, 2024 |
| #7 | -13.57% Sep 17, 2008 - Sep 29, 2008 | -2.96% Oct 19, 2023 - Nov 3, 2023 |
| #8 | -8.50% Sep 29, 2008 - Oct 3, 2008 | -2.55% Jan 2, 2024 - Feb 21, 2024 |
| #9 | -0.43% Mar 5, 2009 - Mar 9, 2009 | -2.46% Aug 30, 2024 - Sep 24, 2024 |
| #10 | N/A | -2.36% Nov 3, 2023 - Nov 30, 2023 |
| #11 | N/A | -1.66% Jul 17, 2024 - Jul 26, 2024 |
| #12 | N/A | -1.51% Dec 15, 2025 - Jan 6, 2026 |
| #13 | N/A | -1.30% Feb 11, 2026 - Feb 27, 2026 |
| #14 | N/A | -1.18% Jan 15, 2026 - Jan 21, 2026 |
| #15 | N/A | -1.01% Dec 14, 2023 - Dec 22, 2023 |
Correlation
Correlation between SDS and PAPI is -0.90 which considered as a strong negative correlation - the stocks tend to move in opposite directions.
-0.90
-101
Dividend Comparison (2006 - 2026)
SDS vs PAPI dividend yield comparison.
| Year | SDS | PAPI |
|---|---|---|
| 2026 | 1.81% | 3.92% |
| 2025 | 5.88% | 7.59% |
| 2024 | 7.89% | 7.07% |
| 2023 | 5.77% | 1.45% |
| 2022 | 0.35% | 0.00% |
| 2020 | 0.92% | 0.00% |
| 2019 | 1.84% | 0.00% |
| 2018 | 1.28% | 0.00% |
| 2017 | 0.09% | 0.00% |
| 2008 | 22.43% | 0.00% |
| 2007 | 3.30% | 0.00% |
| 2006 | 1.24% | 0.00% |
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