Skip to content
etf.net

Launched · SEC filings

ProShares Ultra Platinum K-1 Free ETF

UPLTNYSE ArcaDThis 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.

$22.05+0.20 (+0.89%)

As of Oct 13, 2026, 11:13 AM

D39/ 100

Rank 71 of 99 in Leveraged Long (2x & Other)

D39/100Rank 71 of 99inLeveraged Long (2x & Other)
Intraday session: up, 4 prints from 21.85 to 22.05. Range 21.85 to 22.05. Use the arrow keys to read each point.21.9021.9522.0010 AM12 PM2 PM4 PM
Expense ratio
1.04%
Fund size
$1M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
1
Avg volume · 30D
0M sh
NAV per share
$21.86
52W range
low $20.04high $42.12
Launched
Filings
SEC EDGAR

The ETF.net UPLT Grade

Based on 4 of 6 pillars

D

Score 39 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
71 of 99
Six-pillar profile for UPLT. Scores out of 100: Cost 48, Risk 22, Mission not scored, Tradability 37, Holdings not scored, Durability 43. Strongest: Cost (48). Weakest: Risk (22). Based on 4 of 6 pillars.

Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
39
This cap took
−0
Published Score
39 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C48 out of 100
    Rank 50 of 99

  • 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.
    F22 out of 100
    Rank 83 of 96

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D37 out of 100
    Rank 69 of 99

  • 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.
    C43 out of 100
    Rank 58 of 99

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 Oct 13, 2026
Asset class
Other
Holdings
1
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%655,871$656K163

Showing 1–1 of 1 holdings

UPLT Performance

Launched Apr 20, 2026

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

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
UPLT$9,793
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. UPLT $9,793. SPY $10,332. Use the arrow keys to read each point.$8,950$11,006$13,062Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 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−14.0%
3 months−2.1%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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−44.0%

History from Apr 21, 2026

UPLT in the news

Filtered to UPLT · Leveraged Long (2x & Other)

UPLT Dividends

Last payment
$0.17 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Jun 24, 2026 $0.06; Sep 23, 2026 $0.17. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.17
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 1.00%

50 of the 95 Leveraged Long (2x & Other) funds charge less.

UPLT costs $104.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $100.00.

Other funds in Leveraged Long (2x & Other)

See others