Swap finder › Leveraged / inverse
DDM tax-loss harvesting alternatives
ProShares Ultra Dow30 (ProShares) tracks Dow Jones Industrial Average. If you hold DDM at a loss, these ETFs track a different index, which generally makes them less likely to be considered “substantially identical” — while still moving closely with DDM during the 31-day wait.
| Held fund | Index tracked | Issuer | Expense ratio | AUM | Holdings | Category |
|---|---|---|---|---|---|---|
| DDM2x leveraged ProShares Ultra Dow30 | Dow Jones Industrial Average | ProShares | 0.95% | $513.03M | 44 | Leveraged / inverse |
Sources: issuer fund page · public fund profile. Fund data as of 2026-10-16.
DDM wash sale alternatives (different index)
| ETF | Index tracked | Issuer | Expense ratio | AUM | 1-yr correlation | Holdings overlap | Notes |
|---|---|---|---|---|---|---|---|
| SSO2x leveraged ProShares Ultra S&P 500 | S&P 500 | ProShares | 0.84% | $9.20B | 0.829 | n/a | different index |
| UPRO3x leveraged ProShares UltraPro S&P500 | S&P 500 | ProShares | 0.88% | $5.70B | 0.827 | n/a | different indexdifferent leverage |
| SPXL3x leveraged Direxion Daily S&P 500 Bull 3X ETF | S&P 500 | Direxion | 0.84% | $7.34B | 0.826 | n/a | different indexdifferent leverage |
| UWM2x leveraged ProShares Ultra Russell2000 | Russell 2000 | ProShares | 0.95% | $218.53M | 0.785 | n/a | different indexloose match |
| TNA3x leveraged Direxion Daily Small Cap Bull 3X ETF | Russell 2000 | Direxion | 1.05% | $1.30B | 0.784 | n/a | different indexloose matchdifferent leverage |
| FAS3x leveraged Direxion Daily Financial Bull 3X ETF | S&P Financial Select Sector | Direxion | 0.88% | $2.06B | 0.763 | n/a | different indexloose matchdifferent leverage |
| TQQQ3x leveraged ProShares UltraPro QQQ | NASDAQ 100 Index | ProShares | 0.78% | $38.96B | 0.626 | n/a | different indexloose matchdifferent leverage |
| QLD2x leveraged ProShares Ultra QQQ | NASDAQ 100 Index | ProShares | 0.89% | $15.25B | 0.624 | n/a | different indexloose match |
Sorted by 1-year correlation of daily total returns with DDM (through 2026-10-16). Holdings overlap = sum of the smaller weight of each common stock, from issuer holdings files; “n/a” where the issuer does not offer a free download or for bond/international/commodity funds. Hover a value for its as-of dates.
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Avoid as a replacement: same index as DDM
These track the same index (Dow Jones Industrial Average). Buying one of them within the window is the classic “substantially identical” risk.
| ETF | Index tracked | Issuer | Expense ratio | AUM | 1-yr correlation | Holdings overlap | Notes |
|---|---|---|---|---|---|---|---|
| UDOW3x leveraged ProShares UltraPro Dow30 | Dow Jones Industrial Average | ProShares | 0.94% | $883.98M | 0.999 | n/a | same index — avoid |
30-day wash-sale calendar for DDM
The window is 30 calendar days before and after the sale (61 days total, IRC §1091(a)). Buying the replacement fund right away is the point of a swap; the dates above are about buying back the fund you sold, or anything substantially identical to it.
Before you swap
- Turn off dividend reinvestment for DDM in every account (including IRAs) for the window — a reinvested dividend is a purchase.
- Check automatic investments, a spouse’s accounts, and any DDM bought in the 30 days before the sale.
- Your broker generally only flags wash sales for the identical security in the same account. You are responsible for the rest.
- Read how wash sales work and the FAQ, then confirm your plan with a tax professional.