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ROM vs UPAL

ProShares Ultra Technology

ROMANYSE Arca

ProShares Ultra Palladium K-1 Free ETF

UPALDNYSE Arca

Overlap

Expense ratio

ROM −0.02pt a year

ROM0.93%UPAL0.95%

Avg volume · 30D

ROM 43.9×the volume

ROM47.7KUPAL1.09K

ROM vs UPAL Performance

Jul 31, 2026 – Oct 30, 2026

+2.0%ROM−46.8%UPAL

Jul 31, 2026 to Oct 30, 2026. ROM +2.0%. UPAL −46.8%. Use the arrow keys to read each point.−20%20%Jul 2026Sep 2026Oct 2026
Expense ratio
ROM 0.93%, better
UPAL 0.95%
Fund size
ROM $1.15B
UPAL $0
1Y total return
ROM +26.5%
UPAL No data
Yield (12M)
ROM 0.03%
UPAL No data
Holdings
ROM 85
UPAL 1
Avg volume (30D)
ROM 47.7K sh, better
UPAL 1.09K sh
NAV per share
ROM $132.18
UPAL $12.72
52W range

ETF.net Grade

ROM: Cost 70, Risk 56, Mission not scored, Tradability 88, Holdings not scored, Durability 81. UPAL: Cost 51, Risk 13, Mission 21, Tradability 29, Holdings not scored, Durability 33.
Pillar letters and Scores for ROM, UPAL, with each pillar’s weight
PillarROMUPAL
Cost30% weightA70HigherC51
Mission25% weightNot scoredF21
Risk15% weightB56HigherF13
Tradability15% weightA88HigherD29
Holdings10% weightNot scoredNot scored
Durability5% weightA81HigherD33

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. ROM and UPAL 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 ›

ROM ranks 3rd and UPAL 75th 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 75DTTXUDirexion Daily Technology Top 5 Bull 2X ETFScore 35
  6. Rank 75DUPALProShares Ultra Palladium K-1 Free ETFScore 35
  7. Rank 78DNUGTDirexion Daily Gold Miners Index Bull 2X ETFScore 34

Our read on each fund

ETF.net Research

ROMAProShares Ultra Technology

UPALDProShares Ultra Palladium K-1 Free ETF

In short

ROM The original 2x tech trade. Since 2007, ROM has aimed at twice the daily move of the S&P 500's technology sector: a double dose in a category now stacked with triples.

UPAL The first ETF built to target 2x palladium's daily move, and it sends a 1099 instead of a K-1. Swap-based, resets every day, 0.95% net of a waiver through September 30, 2027.

Stated mandate

ROM ROM seeks daily investment results, before fees and expenses, corresponding to twice the daily performance of the S&P Technology Select Sector SM Index.

UPAL UPAL seeks daily investment results, before fees and expenses, corresponding to two times the daily performance of palladium. Its objective is designed for a single day rather than a longer holding period.

Why people hold it

  • ROM Two times, not three. A 2x daily target means smaller swings and less compounding drag than a 3x fund chasing the same sector.sec.gov
  • Live since January 2007, so it has run through the 2008 crash and the full tech cycle since. Long mileage is rare in geared funds.
  • 0.93% a year, flat, with no waiver propping it up. Peer QLD runs 0.89%, but only net of a waiver through September 30, 2027.
  • One of the strongest implementations in the leveraged-bull pack, from an issuer that has run geared funds since the category's early days.proshares.com
  • UPAL First ETF aiming at 2x palladium's daily move, built on swaps referencing a physically backed palladium ETF (PALL) rather than futures contracts that need rolling.proshares.comproshares.com 2
  • Form 1099, not a Schedule K-1. It is registered under the 1940 Act, unlike the partnership-structured commodity funds that mail K-1s each spring.proshares.comproshares.com 2
  • At 0.95% net of a waiver through September 30, 2027, it is priced near the typical geared fund and level with ProShares' Ultra Dow30 (DDM, 0.95%), niche metal and all.

Worth knowing

  • ROM The 2x target resets at each close, so results over weeks or months depend on the path the sector takes, not just where it ends up.sec.govproshares.com
  • Trades thinner than the category's headline names, so spreads and limit orders matter, especially in size.
  • About 80 tech names from the S&P 500. That is one concentrated sector bet, doubled, in both directions.
  • UPAL The 2x target resets each day. Hold longer and results can drift from twice palladium's move, especially after choppy stretches.
  • That 0.95% is a waived price: gross expenses run 5.57%, waived down through September 30, 2027.
  • Launched in 2026, it is still small and lightly traded, so spreads can swing. Bank swap counterparties, not metal in a vault, stand behind the exposure.proshares.com

Full ROM profile⁠

Full UPAL profile⁠

ROM vs UPAL 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.

ROM vs UPAL Cost

Overpaying UPAL vs ROM

$330

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

  • ROM 0.93%

    $17,539

  • UPAL 0.95%

    $17,869

$10,000
30 years

Cost over time

  • ROM 0.93%
  • UPAL 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UPAL $17,869ROM $17,539

Year by year

YearROMUPALOverpaying
10$1,644$1,678$34
20$6,199$6,322$123
30$17,539$17,869$330

Expense ratio

  • 0.93%ROM, cheaper
  • 0.95%UPAL
  • Middle half of Leveraged Long (2x & Other) funds
  • Median 0.95%

ROM 29th cheapest of 95 funds

UPAL 32nd cheapest of 95 funds

ROM vs UPAL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ROM 0.03%
UPAL No data
Payout (12M)
ROM $0.04
UPAL No data
Last payment
ROM $0.02
UPAL $0.16
Ex-dividend
ROM Mar 25, 2026
UPAL Sep 23, 2026
Paid on
ROM Mar 31, 2026
UPAL Sep 29, 2026
Frequency
ROM Quarterly
UPAL Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ROMQuarterly · 19 paymentsAll ROM payments⁠
One bar per payment. 19 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.0015; Dec 26, 2017 $0.0075; Mar 21, 2018 $0.0064; Jun 20, 2018 $0.006; Dec 26, 2018 $0.02; Mar 20, 2019 $0.01; Jun 25, 2019 $0.0043; Dec 24, 2019 $0.01; Mar 25, 2020 $0.02; Dec 20, 2023 $0.0042; Mar 20, 2024 $0.01; Jun 26, 2024 $0.04; Sep 25, 2024 $0.06; Dec 23, 2024 $0.03; Mar 26, 2025 $0.02; Jun 25, 2025 $0.14; Sep 24, 2025 $0.05; Dec 24, 2025 $0.02; Mar 25, 2026 $0.02. Use the arrow keys to read each point.$0$0.102017202020232026YTD
UPALQuarterly · 2 paymentsAll UPAL payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Jun 24, 2026 $0.06; Sep 23, 2026 $0.16. Use the arrow keys to read each point.$0$0.102017202020232026YTD

ROM vs UPAL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ROM 49.3%UPAL No data
Return per unit of riskSharpe ratio, 3 years
ROM 0.97UPAL No data
Worst fallMax drawdown, 5 years
ROM −67.6%UPAL No data
Market sensitivityBeta, 5 years
ROM 3.09UPAL −1.84

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