ProShares - Ultra Russell2000
$58.73−2.06 (−3.40%)
- Expense ratio
- 1.07%
- Fund size
- $223M
- 1Y return
- +29.1%
- Yield · Last 12 months
- 0.87%
- Holdings
- 1970
- Volume · 30D
- 0.3M sh
- NAV per share
- $59.50
- 52W range
The ETF.net UWM Grade
Score 58 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 44Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 72Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 58Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 84Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 53Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 76Category rank
Our read on UWM
BTwice the Russell 2000's daily move in a single ticker, from ProShares' original 2007 leverage class. Roughly 2,000 small caps, re-geared every trading day, which makes it a trading instrument rather than a set-and-forget holding.
UWM seeks daily, pre-fee investment results equal to twice the daily performance of the Russell 2000 Index.
Why people hold it
- Delivers on what it advertises: 2x the Russell 2000's daily return, tracked closely enough to sit in the upper half of its leveraged bull peer group.
- Live since January 2007, so the daily-reset machinery has run through the 2008 crash, 2020 and every small-cap whipsaw since.
- One trade buys geared exposure to about 2,000 US small caps, not a concentrated bet on a few names.
Worth knowing
- The 2x target is a daily one. Hold past a session and choppy markets can push returns meaningfully away from twice the index's move over that stretch.
- The 1.07% fee runs slightly above the typical leveraged bull fund and lands level with Russell 2000 stablemates TNA and URTY.
- Small caps already move hard. Doubling the daily swing cuts in both directions, drawdowns included.
UWM Holdings
- Stocks
- 1,970
- 61%
- IQMM
Sectors
- Health Care21.0%
- Financials18.1%
- Technology13.8%
- Industrials13.2%
- Consumer Discr.8.9%
- Energy6.5%
- Real Estate6.5%
- Materials4.5%
- Utilities2.7%
- Cons. Staples2.6%
- Communication2.3%
Geography
- United States97.41%
- Bermuda0.92%
- United Kingdom0.32%
- Switzerland0.25%
- Canada0.24%
- Ireland0.21%
- Puerto Rico0.16%
- Monaco0.09%
- 0.41%
UWM Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | UWM |
|---|---|
| Year to date | +29.6% |
| 1 month | −8.4% |
| 3 months | −8.4% |
| 1 year | +29.1% |
| 3 years | +27.7% |
| 5 years | +2.8% |
| 10 years | +10.2% |
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 | UWM |
|---|---|---|
| 2026 YTD | +29.6% | |
| 2025 | +13.6% | |
| 2024 | +11.3% | |
| 2023 | +22.6% | |
| 2022 | −43.7% | |
| 2021 | +23.9% | |
| 2020 | +16.6% |
UWM in the news
ETF.net Research hasn’t filed on UWM yet — coverage lands here as it’s written.
UWM Dividends
- 0.87%
- $0.53
- $0.06 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 24, 2026 | Jun 30, 2026 | $0.06 |
| Mar 25, 2026 | Mar 31, 2026 | $0.07 |
| Dec 24, 2025 | Dec 31, 2025 | $0.20 |
| Sep 24, 2025 | Sep 30, 2025 | $0.20 |
| Jun 25, 2025 | Jul 1, 2025 | $0.02 |
| Mar 26, 2025 | Apr 1, 2025 | $0.08 |
| Dec 23, 2024 | Dec 31, 2024 | $0.18 |
| Sep 25, 2024 | Oct 2, 2024 | $0.13 |
| Jun 26, 2024 | Jul 3, 2024 | $0.11 |
| Mar 20, 2024 | Mar 27, 2024 | $0.06 |
| Dec 20, 2023 | Dec 28, 2023 | $0.11 |
| Sep 20, 2023 | Sep 27, 2023 | $0.02 |
UWM 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.
- 39.9%
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.
- 0.62
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.
- −61.6%
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.
- 2.54
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
UWM Cost
- The middle half of Leveraged Long (2x & Other) funds
- Median 0.99%
54 of the 93 Leveraged Long (2x & Other) funds charge less.