DPST vs UDOW

DPSTBDirexion Daily Regional Banks Bull 3X ETF

UDOWAProShares UltraPro Dow30

In short

DPST Most leveraged financial funds hand you the megabanks. DPST goes narrow: 3x the daily move of an index of roughly 150 regional lenders. A single-purpose amplifier on one of the market's most headline-prone groups.

UDOW The only 3x daily play on the Dow: 30 blue-chip names, price-weighted, reset every session. It is the industrial cousin of the semis-and-Nasdaq crowd that fills the leveraged aisle, and it has run since 2010.

Stated mandate

DPST The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the S&P Regional Banks Select Industry Index.

UDOW The Fund seeks daily results equal to three times the daily performance of the Dow Jones Industrial Average before fees and expenses. It uses equity securities, derivatives, and money-market instruments to pursue that daily leveraged exposure.

Why people hold it

• DPST At 0.92% a year it undercuts the typical leveraged fund's fee, and it matches what Direxion charges on its broader financials 3x fund (FAS). No premium for the narrower target.
• Regional banks trade on their own drivers: deposits, the rate curve, commercial property loans. This is a clean 3x handle on that theme rather than the whole financial sector.
• The mandate is spelled out, not discretionary: 300% of the S&P Regional Banks Select Industry Index's daily move, before fees and expenses. No stock picking, no manager calls.
• Running since 2015 across roughly 150 banks, it is one of the better-priced, better-traded builds in the leveraged bull group.

• UDOW ProShares calls UDOW the only ETF targeting 3x the daily move of the Dow. In a 3x aisle crowded with semiconductor and Nasdaq bets, the blue-chip index has exactly one lever.proshares.com
• The Dow is a price-weighted measure of 30 US blue chips, so the exposure leans industrials, financials and health care instead of megacap tech.spglobal.com
• Trading since 2010, it has run through several full market cycles and stays actively traded, which matters when the holding period is hours rather than years.
• Among the stronger implementations in its 3x bull peer group, it stays close to its stated daily target and trades with the depth short-horizon traders look for.

Worth knowing

• DPST The 3x target resets every day. Over longer holds, especially choppy ones, compounding can pull results well away from 3x the index's move for the whole period.
• Leverage cuts both ways, and one industry is one storyline: a rate or credit shock tends to hit every regional bank in the basket at once, tripled.
• Volume is solid but not blue-chip, so spreads can widen when banking headlines hit. Any income arrives quarterly and is incidental to the strategy.

• UDOW The 3x target resets every day. Over longer stretches, compounding and volatility can push results away from 3x the index move, as the prospectus spells out.proshares.com
• At 0.94% with no waiver propping it up, cost sits near the typical 3x bull fund; TQQQ charges 0.78% net of a waiver through September 30, 2027.
• Exposure is built with derivatives and cash instruments alongside stocks, so counterparty and derivative risk ride along with the market call.proshares.com

Full DPST profile⁠

Full UDOW profile⁠