---
ticker: "UPW"
name: "ProShares Ultra Utilities"
url: "https://etf.net/etf/UPW"
grade: "D"
score: 37
graded_at: "2026-10-12"
category: "Leveraged Long (2x & Other)"
category_rank: "72 of 99"
methodology: "https://etf.net/methodology"
---

# UPW: ProShares Ultra Utilities

Grade **D**, Score 37 of 100. Rank 72 of 99 in Leveraged Long (2x & Other).

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 16 | 83 of 99 |
| Mission | Not scored | — |
| Risk | 60 | 34 of 96 |
| Tradability | 48 | 55 of 99 |
| Holdings | 67 | 6 of 23 |
| Durability | 64 | 28 of 99 |

## Top holdings

The fund holds 32 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Net Other Assets (Liabilities) | 34.71% |
| 2 | NEE | Nextera Energy Inc | 8.18% |
| 3 | SO | Southern Co/The | 5.00% |
| 4 | CEG | Constellation Energy | 4.84% |
| 5 | DUK | Duke Energy Corp | 4.59% |
| 6 | AEP | American Electric Power | 3.38% |
| 7 | D | Dominion Energy Inc | 2.75% |
| 8 | SRE | Sempra | 2.68% |
| 9 | VST | Vistra Corp | 2.49% |
| 10 | ETR | Entergy Corp | 2.43% |
| 11 | XEL | Xcel Energy Inc | 2.32% |
| 12 | EXC | Exelon Corp | 2.17% |
| 13 | ED | Consolidated Edison Inc | 1.98% |
| 14 | PEG | Public Service Enterprise Gp | 1.76% |
| 15 | WEC | Wec Energy Group Inc | 1.71% |
| 16 | PCG | P G & E Corp | 1.45% |
| 17 | AEE | Ameren Corporation | 1.43% |
| 18 | ATO | Atmos Energy Corp | 1.37% |
| 19 | DTE | Dte Energy Company | 1.33% |
| 20 | PPL | Ppl Corp | 1.29% |
| 21 | AWK | American Water Works Co Inc | 1.29% |
| 22 | CNP | Centerpoint Energy Inc | 1.28% |
| 23 | ES | Eversource Energy | 1.24% |
| 24 | FE | Firstenergy Corp | 1.18% |
| 25 | NRG | Nrg Energy Inc | 1.12% |
| 26 | EIX | Edison International | 1.07% |
| 27 | CMS | Cms Energy Corp | 1.03% |
| 28 | NI | Nisource Inc | 0.99% |
| 29 | EVRG | Evergy Inc | 0.94% |
| 30 | LNT | Alliant Energy Corp | 0.86% |

Source: etf.net, https://etf.net/etf/UPW. Please cite the page URL.