FDRX vs UYG

FDRXDCorgi Founder-Led 2x Daily ETF

UYGAProShares Ultra Financials

In short

FDRX Most of the leverage aisle is Dow and Nasdaq wrappers. FDRX points the same daily-reset machinery at a founder-led stock index and doubles the day's move (2x, not 3x). A one-day tool with a niche theme bolted on.

UYG Listed in January 2007, a year before the banking crash, UYG targets 2x the daily move of the financial stocks in the S&P 500. A veteran of the leveraged shelf, priced at 0.93% with no fee waiver propping that number up.

Stated mandate

FDRX The Fund seeks daily results before fees and expenses equal to twice the Founder-Led Index’s daily performance for a single NAV day. It resets exposure daily and primarily uses derivatives such as total return swaps and futures.

UYG UYG seeks pre-expense daily results equal to 2x the daily performance of the S&P Financial Select Sector Index. It is designed to provide magnified financials-sector exposure on a daily basis.

Why people hold it

• FDRX The leverage aisle is mostly Dow, Nasdaq and financials wrappers. FDRX targets twice the daily move of the Founder-Led Index, a theme no other fund in its cohort levers.
• Two times daily, not three: the same daily-reset swap machinery the 3x crowd runs on, with a smaller multiplier applied to each day's move.
• The contract is plain: a 1940 Act ETF pegged to a named index, resetting exposure each NAV day, with that exposure built from total return swaps and futures.

• UYG One of the originals: on the tape since January 30, 2007, still running the same mandate of 2x the daily performance of the S&P Financial Select Sector Index.proshares.com
• At 0.93% with no waiver doing the work, it sits near the median fee of its leveraged peer group and level with sibling ROM (0.93%). QLD is 0.89%, but net of a waiver through September 30, 2027.
• The whole sector in one ticker: banks, insurers and capital-markets firms from the S&P 500, roughly 80 names, geared daily.proshares.com
• Stands in the top tier of the leveraged bull funds we grade, a group of close to a hundred tickers.

Worth knowing

• FDRX Daily reset means the math compounds. Held longer than a day, results can drift well away from 2x the index's move, especially through choppy stretches.
• 1.08% a year, above what the cohort's biggest 2x and 3x names charge (FAS, QLD).
• Launched January 2026, so the history is short and trading has been light; spreads can run wider than in the cohort's household names.

• UYG The 2x target is a one-day target and resets each day. Over longer holds the result comes from compounding daily moves, and in choppy markets that can land well off twice the index's return for the period.proshares.com
• One sector, doubled. Financials move with rates, credit conditions and deal flow, and UYG amplifies that daily swing in both directions.
• It changes hands less than the headline leveraged funds, so the spread is worth a look before you place an order.

Full FDRX profile⁠

Full UYG profile⁠