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UPLT

GradeDNew York Stock Exchange Arca

ProShares Ultra Platinum K-1 Free ETF

Leveraged · Leveraged & Inverse · ProShares · Inception 2026-04-20 · SEC filings

This 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.

$24.13−2.26 (−8.56%)

As of Sep 23, 2026, 1:16 PM EDT

History starts Apr 21, 2026.History starts Apr 21, 2026.History starts Apr 21, 2026.
Intraday session: down, 4 prints from 26.39 to 24.13. Range 24.13 to 26.39. Use the arrow keys to read each point.$25.00$26.0010 AM12 PM2 PM4 PM
Expense ratio
1.04%
Fund size
$3M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$25.57
52W range
low $20.59high $42.12

The ETF.net UPLT Grade

D

38/ 100

Rank 69 of 99 in Leveraged Long (2x & Other)⁠

Confidence Medium

Six-pillar profile for UPLT. Scores out of 100: Cost 48, Risk 21, Mission not scored, Tradability 33, Holdings not scored, Durability 44. Strongest: Cost (48). Weakest: Risk (21). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 38 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned38This cap took−0Published score38 Grade D

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 48
    Category rank53/99 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 21
    Category rank85/94 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 33
    Category rank74/99 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 44
    Category rank57/99 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on UPLT

ETF.net Research

DPlatinum with the volume turned up: UPLT targets two times the metal's daily price move, and because it's a registered fund rather than a commodity partnership, tax season brings a 1099 instead of a K-1.

Stated mandate

The Fund seeks daily investment results, before fees and expenses, that correspond to two times the daily performance of platinum's price.

Why people hold it

  1. 01Aims for two times platinum's daily price move, so one ticker stands in for a futures position or a margin account.
  2. 02K-1 free by design. It's structured as a 1940 Act registered fund, so shareholders get a 1099 rather than a partnership K-1.
  3. 03The 1.04% expense ratio sits right at the median for leveraged funds, so the geared plumbing costs no more than the pack.
  4. 04Built on the ProShares Ultra platform, home to long-running geared funds like QLD and DDM that rank among the strongest in this group.

Worth knowing

  1. 01The 2x target resets every day. Hold longer and compounding takes over, so results can drift well away from twice platinum's move, especially in choppy stretches.
  2. 02A small fund that trades thinly, so spreads can run wider than on the big index-based geared funds. Limit orders do real work here.
  3. 03Launched in 2026, so there's little history to study, and leverage on a single metal swings harder than leverage on a broad index.

UPLT Holdings

As of Sep 20, 2026, 6:50 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
Net Other Assets (Liabilities)100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Net Other Assets (Liabilities)100.00%3,068,485$3M162

Showing 1–1 of 1 holdings

UPLT Performance

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

UPLT$10,923
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. UPLT $10,923. SPY $10,415. Use the arrow keys to read each point.$8,331$10,211$12,092Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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 UPLT. Periods over one year show the average yearly return.
PeriodUPLT
Year to dateFund launched this year—
1 month−7.5%
3 months+9.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 UPLT
YearReturn barUPLT
2026 YTD−32.6%

History from Apr 21, 2026

UPLT in the news

ETF.net Research hasn’t filed on UPLT yet — coverage lands here as it’s written.

UPLT 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 Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2026

One bar per payment. 1 payment in 2026 YTD. Jun 24, 2026 $0.06. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Jun 24, 2026Jun 30, 2026$0.06

UPLT Risk

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.
—
Launched Apr 2026; fills in after 12 months
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.
—
Launched Apr 2026; fills in after 12 months
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.
—
Launched Apr 2026; fills in after 12 months
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.
1.91
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.

UPLT Cost

Expense ratio1.04%
  • The middle half of Leveraged Long (2x & Other) funds
  • Median 0.99%

50 of the 93 Leveraged Long (2x & Other) funds charge less.

UPLT costs $104.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $99.00.