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DDM vs UWM

ProShares Ultra Dow30

DDMBNYSE Arca

ProShares Ultra Russell2000

UWMBNYSE Arca

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

DDM0.95%UWM0.95%

Avg volume · 30D

UWM 1.5×the volume

DDM185KUWM281K

10Y return · a year

DDM +8.4pt

DDM+19.2%UWM+10.8%

DDM vs UWM Performance

Oct 29, 2021 – Oct 30, 2026

+68.8%DDM+0.6%UWM

Oct 29, 2021 to Oct 30, 2026. DDM +68.8%. UWM +0.6%. Use the arrow keys to read each point.−50%−25%25%50%Oct 2021Apr 2024Oct 2026
Expense ratio
DDM 0.95%
UWM 0.95%
Fund size
DDM $507M
UWM $216M
1Y total return
DDM +13.4%
UWM +20.6%, better
Yield (12M)
DDM 0.98%, better
UWM 0.86%
Holdings
DDM 34
UWM 1968
Avg volume (30D)
DDM 185K sh
UWM 281K sh, better
NAV per share
DDM $62.99
UWM $56.94
52W range

ETF.net Grade

DDM: Cost 51, Risk 79, Mission 92, Tradability 93, Holdings 53, Durability 79. UWM: Cost 51, Risk 63, Mission 72, Tradability 85, Holdings 56, Durability 77.
Pillar letters and Scores for DDM, UWM, with each pillar’s weight
PillarDDMUWM
Cost30% weightC51C51
Mission25% weightA92HigherA72
Risk15% weightA79HigherB63
Tradability15% weightA93HigherA85
Holdings10% weightC53B56Higher
Durability5% weightA79HigherA77

Rank among Leveraged Long (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DDM and UWM are both graded against the same 95 Leveraged Long (2x & Other) funds, so their Grades compare head to head.

Leveraged Long (2x & Other)⁠

Category · 95 funds
See all 95 ›

DDM ranks 4th and UWM 9th of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 77
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 3AROMProShares Ultra TechnologyScore 71
  4. Rank 4BDDMProShares Ultra Dow30Score 69
  5. Rank 5BUSDProShares Ultra SemiconductorsScore 68
  6. Rank 9BMVVProShares Ultra MidCap400Score 63
  7. Rank 9BUWMProShares Ultra Russell2000Score 63
  8. Rank 11BRXLProShares Ultra Health CareScore 61

Our read on each fund

ETF.net Research

DDMBProShares Ultra Dow30

UWMBProShares Ultra Russell2000

In short

DDM The Dow dates to 1896. DDM is the only ETF built to double its daily move: 2x the Dow Jones Industrial Average, reset every single day, for 0.95% a year, running since 2006.

UWM A double dose of small caps: UWM aims for twice the Russell 2000's daily move, and it is one of the 2007 originals in the ProShares Ultra lineup. Fee is 0.95% net of a waiver through September 30, 2027.

Stated mandate

DDM The fund seeks daily investment results, before fees and expenses, corresponding to twice the daily performance of the Dow Jones Industrial Average.

UWM UWM seeks daily, pre-fee investment results equal to twice the daily performance of the Russell 2000 Index.

Why people hold it

  • DDM The only ETF that targets 2x the daily return of the Dow Jones Industrial Average. Leveraged blue-chip exposure through one ticker, no margin account needed.proshares.com
  • Trading since 2006, and its day-to-day results have stayed close to the 2x daily target across nearly two decades of market cycles.proshares.com
  • Easy to get in and out of for a fund its size, and one of the strongest implementations in its peer group of leveraged bull funds.
  • The 0.95% fee sits near the typical charge for leveraged funds, and it is the standing rate, not a number propped up by a temporary waiver.
  • UWM Twice the daily move of the Russell 2000, an index of about 2,000 small caps rather than a handful of mega-caps. It is a 1940 Act fund, so shareholders get a 1099, not a K-1.proshares.com
  • Trading since January 2007, it has reset its leverage every session through the financial crisis, the 2020 crash and 2022. Few leveraged funds have that much road behind them.proshares.com
  • 0.95% net of a waiver through September 30, 2027 (1.08% gross) sits near the middle of its category on fee; stablemate QLD charges 0.89% net of a waiver through September 30, 2027.
  • Among the stronger implementations in a field of nearly 100 leveraged bull funds, on both how closely it hits its daily target and how smoothly it trades.

Worth knowing

  • DDM The 2x target resets daily. Hold for weeks and compounding takes over, so results can land well away from twice the Dow's move, especially in choppy markets.proshares.com
  • The Dow is price-weighted across 30 blue chips, so a high-priced stock swings it more than a far larger company does.spglobal.com
  • Sibling leveraged funds cost a little less: QLD charges 0.89% net of a waiver through September 30, 2027, against a 0.96% gross rate.
  • UWM The 2x is a one-day target. Leverage resets daily, so across choppy weeks the result can land well short of twice the index move, up or down.proshares.com
  • Small caps are jumpy before leverage. ProShares states these funds are for investors who manage positions daily, not set-and-forget holders.proshares.comproshares.com 2
  • If the waiver lapses after September 30, 2027, the fee reverts toward the 1.08% gross figure, and leverage financing costs sit on top of that.

Full DDM profile⁠

Full UWM profile⁠

DDM vs UWM Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DDM vs UWM Cost

Same expense ratio

$17,869

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DDM 0.95%

    $17,869

  • UWM 0.95%

    $17,869

$10,000
30 years

Cost over time

  • DDM 0.95%
  • UWM 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DDM $17,869UWM $17,869

Year by year

YearDDMUWM
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%DDM
  • 0.95%UWM
  • Middle half of Leveraged Long (2x & Other) funds
  • Median 0.95%

DDM 32nd cheapest of 95 funds

UWM 32nd cheapest of 95 funds

DDM vs UWM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DDM 0.98%, better
UWM 0.86%
Payout (12M)
DDM $0.62
UWM $0.49
Last payment
DDM $0.15
UWM $0.16
Ex-dividend
DDM Sep 23, 2026
UWM Sep 23, 2026
Paid on
DDM Sep 29, 2026
UWM Sep 29, 2026
Frequency
DDM Quarterly
UWM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DDMQuarterly · 33 paymentsAll DDM payments⁠
One bar per payment. 33 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.04; Jun 21, 2017 $0.03; Sep 27, 2017 $0.04; Dec 26, 2017 $0.04; Mar 21, 2018 $0.03; Jun 20, 2018 $0.03; Sep 26, 2018 $0.06; Dec 26, 2018 $0.04; Mar 20, 2019 $0.04; Jun 25, 2019 $0.05; Dec 24, 2019 $0.07; Mar 25, 2020 $0.06; Jun 24, 2020 $0.0055; Dec 23, 2020 $0.02; Mar 23, 2021 $0.01; Sep 22, 2021 $0.0052; Dec 23, 2021 $0.05; Mar 23, 2022 $0.07; Jun 22, 2022 $0.04; Sep 21, 2022 $0.04; Dec 22, 2022 $0.12; Dec 20, 2023 $0.11; Mar 20, 2024 $0.12; Jun 26, 2024 $0.13; Sep 25, 2024 $0.14; Dec 23, 2024 $0.09; Mar 26, 2025 $0.13; Jun 25, 2025 $0.13; Sep 24, 2025 $0.15; Dec 24, 2025 $0.14; Mar 25, 2026 $0.16; Jun 24, 2026 $0.17; Sep 23, 2026 $0.15. Use the arrow keys to read each point.$0$0.202017202020232026YTD
UWMQuarterly · 25 paymentsAll UWM payments⁠
One bar per payment. 25 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.0017; Dec 26, 2017 $0.04; Mar 21, 2018 $0.005; Sep 26, 2018 $0.02; Dec 26, 2018 $0.09; Mar 20, 2019 $0.02; Jun 25, 2019 $0.06; Sep 25, 2019 $0.05; Dec 24, 2019 $0.08; Mar 25, 2020 $0.02; Dec 23, 2020 $0.0033; Dec 22, 2022 $0.13; Sep 20, 2023 $0.02; Dec 20, 2023 $0.11; Mar 20, 2024 $0.06; Jun 26, 2024 $0.11; Sep 25, 2024 $0.13; Dec 23, 2024 $0.18; Mar 26, 2025 $0.08; Jun 25, 2025 $0.02; Sep 24, 2025 $0.20; Dec 24, 2025 $0.20; Mar 25, 2026 $0.07; Jun 24, 2026 $0.06; Sep 23, 2026 $0.16. Use the arrow keys to read each point.$0$0.202017202020232026YTD

DDM vs UWM Risk

Fall from peak · 5 years

  • DDM
  • UWM
Oct 29, 2021 to Oct 30, 2026. Worst fall: UWM −61.6% · Oct 2023. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
DDM 24.6%, betterUWM 38.6%
Return per unit of riskSharpe ratio, 3 years
DDM 0.96, betterUWM 0.78
Worst fallMax drawdown, 5 years
DDM −40.2%, betterUWM −61.6%
Market sensitivityBeta, 5 years
DDM 1.74UWM 2.54

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