ProShares - Ultra S&P 500 Equal Weight
BThis 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.
$48.56+0.05 (+0.10%)
- 1.19%
- $41M
- +27.2%
- 1.29%
- 0.1M sh
- $48.47
- low $36.90high $53.57
The ETF.net URSP Grade
B
Score 58 out of 100
- 13 of 99
Score 58 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.D32 out of 100Rank 66 of 99Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A86 out of 100Rank 4 of 96Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A81 out of 100Rank 9 of 99Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B62 out of 100Rank 31 of 99
Our read on URSP
BLeverage aimed at the average S&P 500 stock. URSP targets two times the daily move of the equal-weight version of the index, so the mega-cap top isn't running the show. It resets every day, which makes it a hold-and-watch instrument.
URSP seeks daily investment results, before fees and expenses, corresponding to two times the daily performance of the S&P 500 Equal Weight Index.
Why people hold it
- Leverage on the equal-weight S&P 500: every constituent carries the same weight, so the fund's engine is the average stock rather than a handful of giants.proshares.com
- Plain mandate, no discretion: two times the daily performance of a published index (SPW), before fees and expenses. What you see is what the fund is doing.proshares.com
- ProShares runs a deep daily-leveraged lineup, and siblings like QLD, DDM and UDOW sit among the strongest implementations in this peer group.
Worth knowing
- The 2x target applies to one day. Hold longer and returns compound, so multi-day results can drift from twice the index move, with choppy markets widening the gap.proshares.com
- The 1.19% expense ratio runs above the median for daily-leveraged funds, and the financing cost of the leverage itself sits on top of that.
- A 2025 launch that's still small and lightly traded, so there's limited history to judge and spreads can run wider than in the veteran leveraged names.
URSP Holdings
- Stocks
- 504
- 55%
- Net Other Assets (Liabilities)
Geography
- United States95.38%
- Ireland2.05%
- Switzerland0.80%
- United Kingdom0.58%
- Bermuda0.41%
- Netherlands0.39%
- Canada0.19%
- Singapore0.19%
URSP Performance
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.
URSP$12,723
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.
| Period | URSP |
|---|---|
| Year to date | +20.0% |
| 1 month | −1.3% |
| 3 months | −1.9% |
| 1 year | +27.2% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | URSP |
|---|---|---|
| 2026 YTD | +20.0% | |
| 2025 | +1.6% |
URSP in the news
URSP Dividends
- 1.29%
- $0.62
- $0.19 per share
- Quarterly
Distribution history
URSP 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.
- 21.9%
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.
- 0.68
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.
- −15.7%
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.
- 1.19
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
URSP Cost
1.19%
URSP1.19%
- The middle half of Leveraged Long (2x & Other) funds
- Median 1.00%
66 of the 95 Leveraged Long (2x & Other) funds charge less.
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