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Launched · SEC filings

ProShares UltraPro MidCap 400

UMDDNYSE ArcaProSharesBThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$28.84−3.68 (−11.32%)

As of Nov 5, 2026, 3:59 PM ET

B56/ 100

Rank 10 of 31 in 3x Leveraged Long

B56/100Rank 10 of 31in3x Leveraged Long
Intraday session: down, 77 prints from 32.52 to 28.84. Range 28.72 to 32.56. Use the arrow keys to read each point.30.0031.0032.0010 AM12 PM2 PM4 PM
Expense ratio
0.95%*
Fund size
$28M
1Y total return
+36.6%
Yield · Last 12 months
0.58%
Holdings
401
Avg volume · 30D
5.94K sh
52W range
low $21.52high $39.16
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 30, 2027. Without it: 1.39%.

The ETF.net UMDD Grade

Based on 4 of 6 pillars

B

Score 56 out of 100

Category
3x Leveraged Long⁠
Rank
10 of 31
Six-pillar profile for UMDD. Scores out of 100: Cost 62, Risk 67, Mission not scored, Tradability 39, Holdings not scored, Durability 49. Strongest: Risk (67). Weakest: Tradability (39). Based on 4 of 6 pillars.

Score 56 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B62 out of 100
    Rank 9 of 31

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B67 out of 100
    Rank 7 of 31

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D39 out of 100
    Rank 22 of 31

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C49 out of 100
    Rank 16 of 31

Our read on UMDD

ETF.net Research

In short

BThe 3x shelf crowds into big tech and chips. UMDD points at the middle of the market: three times the daily move of the S&P MidCap 400, for 0.95% net of a waiver through September 30, 2027.

Stated mandate

The fund seeks daily investment results, before fees and expenses, corresponding to three times the daily performance of the S&P MidCap 400 Index.

Why people hold it

  • A single ticker for 3x daily mid-cap exposure, a corner of the 3x shelf dominated by the Nasdaq-100, the Dow and sector bets.proshares.com
  • The leverage is packaged inside the fund, so you get magnified exposure to about 400 mid-sized US companies without running your own margin account.proshares.com
  • Trading since 2010, which is long tenure for a daily-reset product, and it still rates in the upper half of its 3x peer group.
  • 0.95% net of a waiver through September 30, 2027 sits near the 3x category norm; stablemate TQQQ is cheaper at 0.78%, net of a waiver through the same date.

Worth knowing

  • The 3x target resets daily. Hold longer and compounding takes over, so results over weeks or months can diverge widely from 3x the index move, especially in choppy tape.proshares.com
  • Thinly traded next to the headline 3x funds, so spreads and limit orders matter more here than on TQQQ or SOXL.
  • The 0.95% rate is contractual, not permanent: gross expenses are 1.39%, with the waiver running to September 30, 2027.

UMDD Holdings

Asset class
Stocks
Holdings
401
Top-10 weight
42%
Largest holding
Net Other Assets (Liabilities)38.1%

Sectors

  • Industrials22.2%
  • Technology18.1%
  • Financials13.6%
  • Health Care10.5%
  • Consumer Discretionary10.1%
  • Real Estate7.9%
  • Energy5.3%
  • Materials4.9%
  • Consumer Staples3.2%
  • Utilities2.8%
  • Communication1.5%

Geography

  • United States98.19%
  • United Kingdom1.23%
  • Sweden0.22%
  • Brazil0.19%
  • India0.17%
The fund’s holdings, weight-ordered — page 1 of 27.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataNet Other Assets (Liabilities)38.08%10,804,893$10.8M150
2UTHRUnited Therapeutics Corp0.47%218$133K276
3FTITechnipfmc PLC0.45%1,989$128K272
4ATIAti Inc0.44%691$124K221
5USFDUs Foods Holding Corp0.42%1,097$121K195
6THCTenet Healthcare Corp0.42%408$119K234
7RSReliance Inc0.40%259$114K244
8XPOXpo Inc0.39%594$112K204
9ENTGEntegris Inc0.39%775$111K219
10ROKURoku Inc0.38%670$109K159
11RGLDRoyal Gold Inc0.37%430$106K195
12ROIVRoivant Sciences Ltd0.37%2,747$105K172
13WWDWoodward Inc0.34%299$97.6K194
14PRPermian Resources Corp-Cl A0.34%4,248$95.3K220
15SNXTd Synnex Corp0.33%406$93.5K230

Showing 1–15 of 401 holdings

UMDD Performance

Launched Feb 9, 2010

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

UMDD$13,660
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,478
Nov 4, 2025 to Nov 4, 2026. UMDD $13,660. SPY $11,478. Use the arrow keys to read each point.$10,000$12,500$15,000Nov 2025May 2026Nov 2026

Nov 4, 2025 – Nov 4, 2026

Returns run to the Nov 4, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for UMDD. Periods over one year show the average yearly return.
PeriodUMDD
Year to date+27.7%
1 month+3.3%
3 months−13.4%
1 year+36.6%
3 yearsper year+27.1%
5 yearsper year−2.0%
10 yearsper year+11.8%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for UMDD
YearReturn barUMDD
2026 YTD+27.7%
2025−2.6%
2024+19.7%
2023+27.2%
2022−49.6%
2021+72.3%
2020−17.3%

UMDD in the news

UMDD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 4, 2026.
0.58%Last 12 months
Payout per share
$0.19Last 12 months
Last payment
$0.03 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 26 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.0057; Dec 26, 2018 $0.04; Mar 20, 2019 $0.02; Jun 25, 2019 $0.04; Sep 25, 2019 $0.06; Dec 24, 2019 $0.04; Mar 25, 2020 $0.01; Dec 23, 2020 $0.0046; Dec 23, 2021 $0.02; Mar 23, 2022 $0.01; Jun 22, 2022 $0.01; Sep 21, 2022 $0.03; Dec 22, 2022 $0.03; Mar 22, 2023 $0.005; Dec 20, 2023 $0.04; Mar 20, 2024 $0.0099; Jun 26, 2024 $0.04; Sep 25, 2024 $0.05; Dec 23, 2024 $0.11; Mar 26, 2025 $0.03; Jun 25, 2025 $0.07; Sep 24, 2025 $0.08; Dec 24, 2025 $0.08; Mar 25, 2026 $0.04; Jun 24, 2026 $0.04; Sep 23, 2026 $0.03. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.03
Jun 24, 2026Jun 30, 2026$0.04
Mar 25, 2026Mar 31, 2026$0.04
Dec 24, 2025Dec 31, 2025$0.08
Sep 24, 2025Sep 30, 2025$0.08
Jun 25, 2025Jul 1, 2025$0.07
Mar 26, 2025Apr 1, 2025$0.03
Dec 23, 2024Dec 31, 2024$0.11
Sep 25, 2024Oct 2, 2024$0.05
Jun 26, 2024Jul 3, 2024$0.04
Mar 20, 2024Mar 27, 2024$0.0099
Dec 20, 2023Dec 28, 2023$0.04

See all 33 payments⁠

$10,000 in UMDD 10 years ago paid $841 in dividends.⁠

UMDD Risk

Risk pillarB67 out of 100Rank 7 of 31 in 3x Leveraged Long

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
46.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.71
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−64.6%
Trough Oct 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
3.07
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

UMDD Cost

Compare UMDD and SOXL

Overpaying vs SOXL, cheapest in 3x Leveraged Long

$3,387

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • UMDD 0.95%

    $17,869

  • SOXL 0.75% Cheapest

    $14,482

$10,000
30 years

Cost over time

  • UMDD 0.95%
  • SOXL 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UMDD $17,869SOXL $14,482

Year by year

YearUMDDSOXLOverpaying
10$1,678$1,336$342
20$6,322$5,078$1,244
30$17,869$14,482$3,387
How the 0.95% is worked out

Full fee 1.39%− waiver 0.44%= you pay 0.95%

The waiver ends Sep 30, 2027. After that the fee is 1.39% unless ProShares renews it. Source: prospectus, Sep 2026.

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