MZZ vs SMDD
ProShares UltraShort MidCap 400 vs ProShares UltraPro Short MidCap400
Which is better, MZZ or SMDD?
MZZ has been ahead.
MZZ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MZZ | SMDD |
|---|---|---|
| Expense Ratio | 0.95%Tie | 0.95%Tie |
| AUM | $5M | $2M |
| Dividend Yield | 3.54% | 3.63% |
| Holdings | 4 | 5 |
| YTD Return | -13.17%Best | -22.15% |
| 1Y Return | -17.62%Best | -28.89% |
| 3Y Return (annualized) | -22.13%Best | -36.67% |
| 5Y Return (annualized) | -14.21%Best | -26.86% |
| Volatility (annualized) | 32.6%Best | 52.3% |
| $10,000 over 5 years | $4,647Best | $2,093 |
| Fund Family | ProShares | ProShares |
| Category | Alternative | Alternative |
| Style | Trading-Inverse Equity | Trading-Inverse Equity |
| Inception | Jul 11, 2006 | Feb 9, 2010 |
Not shown on this pair: Max Drawdown, Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Feb 11, 2010 to Oct 14, 2026 (16.7 years).
MZZ vs SMDD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16.7 years both funds cover.
MZZ vs SMDD Performance
ProShares UltraShort MidCap 400 (MZZ) is an ETF from ProShares and ProShares UltraPro Short MidCap400 (SMDD) is an ETF from ProShares. Over the past year MZZ returned -17.62% while SMDD returned -28.89%. Year to date, MZZ is down 13.17% versus a loss of 22.15% for SMDD.
Over three years, MZZ compounded at -22.13% per year against -36.67% for SMDD; over five years the annualized figures are -14.21% and -26.86% respectively. Across the full 17-year window we track, MZZ has the edge at -26.92% annualized vs -39.20%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMDD has been the more volatile fund, with annualized monthly volatility of 52.3% compared with 32.6% for MZZ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MZZ charges 0.95% per year while SMDD charges 0.95%. On a $10,000 position that is $95 vs $95 annually. On income, MZZ currently yields 3.54% against 3.63% for SMDD.
You are not choosing between two funds in isolation.
Whichever of MZZ and SMDD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MZZ or SMDD?
MZZ has an expense ratio of 0.95% while SMDD charges 0.95%. At the precision these are quoted to, they cost the same.
Which performed better, MZZ or SMDD?
Over the past year MZZ returned -17.62% vs -28.89% for SMDD, so MZZ leads on 1-year performance. Over the longest common window we track (17 years), MZZ annualized -26.92% vs -39.20% for SMDD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MZZ or SMDD?
SMDD has been the more volatile fund at 52.3% annualized versus 32.6% for MZZ.
Should I hold both MZZ and SMDD?
MZZ and SMDD have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, MZZ or SMDD?
MZZ yields 3.54% while SMDD yields 3.63%, so SMDD currently pays the higher dividend yield.
Is SMDD better than MZZ?
MZZ led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. Which one suits a particular account depends on what it is for. This is information, not a recommendation.