Skip to content
etf.net

ROM vs UPW

ProShares Ultra Technology

ROMANYSE Arca

ProShares Ultra Utilities

UPWBNYSE Arca

Overlap

Expense ratio

ROM −0.02pt a year

ROM0.93%UPW0.95%

Avg volume · 30D

ROM 2.4×the volume

ROM47.7KUPW19.6K

10Y return · a year

ROM +28.0pt

ROM+36.6%UPW+8.6%

ROM vs UPW Performance

Oct 29, 2021 – Oct 30, 2026

+126.1%ROM+39.5%UPW

Oct 29, 2021 to Oct 30, 2026. ROM +126.1%. UPW +39.5%. Use the arrow keys to read each point.−50%0%200%Oct 2021Apr 2024Oct 2026
Expense ratio
ROM 0.93%, better
UPW 0.95%
Fund size
ROM $1.15B
UPW $13M
1Y total return
ROM +26.5%, better
UPW −7.7%
Yield (12M)
ROM 0.03%
UPW 1.77%, better
Holdings
ROM 85
UPW 32
Avg volume (30D)
ROM 47.7K sh, better
UPW 19.6K sh
NAV per share
ROM $132.18
UPW $21.49
52W range

ETF.net Grade

ROM: Cost 70, Risk 56, Mission not scored, Tradability 88, Holdings not scored, Durability 81. UPW: Cost 51, Risk 62, Mission not scored, Tradability 57, Holdings 69, Durability 65.
Pillar letters and Scores for ROM, UPW, with each pillar’s weight
PillarROMUPW
Cost30% weightA70HigherC51
Mission25% weightNot scoredNot scored
Risk15% weightB56B62Higher
Tradability15% weightA88HigherB57
Holdings10% weightNot scoredB69
Durability5% weightA81HigherB65

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 UPW 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 UPW 20th 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 18BUREProShares Ultra Real EstateScore 56
  6. Rank 20BUPWProShares Ultra UtilitiesScore 55
  7. Rank 20BYCLProShares Ultra YenScore 55

Our read on each fund

ETF.net Research

ROMAProShares Ultra Technology

UPWBProShares Ultra Utilities

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.

UPW Utilities are the market's sleepy defensive corner. UPW is the only ETF that bolts 2x daily leverage onto them, and it has been running that trade since 2007.

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.

UPW The fund seeks daily investment results, before fees and expenses, equal to two times the daily performance of the S&P Utilities Select Sector SM Index.

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
  • UPW ProShares says UPW is the only ETF targeting 2x the daily return of the utilities sector. One ticker, no rival lineup to price-shop.proshares.com
  • Fee is 0.95% net of a waiver through September 30, 2027, near the typical leveraged bull charge and the same net price as stablemate DDM (0.95%).
  • The benchmark is the utilities inside the S&P 500: a few dozen electric, gas, water and multi-utility names. ProShares moved to that index in 2023 from a broader Dow Jones gauge.proshares.comsec.gov
  • Trading since January 2007, a long run for a leveraged sector fund, and it pays distributions quarterly.

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.
  • UPW The 2x target covers one day only. Over longer holds compounding takes over: choppier, sideways stretches tend to drag results below 2x the index move.sec.gov
  • That 0.95% is net of a waiver. The gross expense ratio is 1.55%, so the sticker price past September 30, 2027 hangs on whether ProShares extends it.
  • Small and lightly traded next to the giant leveraged index ETFs, so bid-ask spreads and the size of your order matter more here.

Full ROM profile⁠

Full UPW profile⁠

ROM vs UPW 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 UPW Cost

Overpaying UPW vs ROM

$330

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

  • ROM 0.93%

    $17,539

  • UPW 0.95%

    $17,869

$10,000
30 years

Cost over time

  • ROM 0.93%
  • UPW 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$20K051015202530UPW $17,869ROM $17,539

Year by year

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

ROM 29th cheapest of 95 funds

UPW 32nd cheapest of 95 funds

ROM vs UPW Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ROM 0.03%
UPW 1.77%, better
Payout (12M)
ROM $0.04
UPW $0.38
Last payment
ROM $0.02
UPW $0.13
Ex-dividend
ROM Mar 25, 2026
UPW Sep 23, 2026
Paid on
ROM Mar 31, 2026
UPW Sep 29, 2026
Frequency
ROM Quarterly
UPW 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
UPWQuarterly · 13 paymentsAll UPW payments⁠
One bar per payment. 13 payments from 2017 to 2026 YTD. Dec 24, 2019 $0.09; Mar 25, 2020 $0.06; Dec 23, 2020 $0.05; Mar 20, 2024 $0.06; Jun 26, 2024 $0.08; Dec 23, 2024 $0.13; Mar 26, 2025 $0.08; Jun 25, 2025 $0.11; Sep 24, 2025 $0.09; Dec 24, 2025 $0.09; Mar 25, 2026 $0.07; Jun 24, 2026 $0.10; Sep 23, 2026 $0.13. Use the arrow keys to read each point.$0$0.102017202020232026YTD

ROM vs UPW Risk

Fall from peak · 5 years

  • ROM
  • UPW
Oct 29, 2021 to Oct 30, 2026. Worst fall: ROM −67.6% · Nov 2022. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
ROM 49.3%UPW 32.0%, better
Return per unit of riskSharpe ratio, 3 years
ROM 0.97, betterUPW 0.69
Worst fallMax drawdown, 5 years
ROM −67.6%UPW −50.6%, better
Market sensitivityBeta, 5 years
ROM 3.09UPW 0.80

Popular comparisons

  • ROMAvsQLDA

    ProShares Ultra Technology · ProShares Ultra QQQ

    Expense ratio
    0.93% · 0.89%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UPWBvsQLDA

    ProShares Ultra Utilities · ProShares Ultra QQQ

    Expense ratio
    0.95% · 0.89%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ROMAvsUYGA

    ProShares Ultra Technology · ProShares Ultra Financials

    Expense ratio
    0.93% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UPWBvsUYGA

    ProShares Ultra Utilities · ProShares Ultra Financials

    Expense ratio
    0.95% · 0.93%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ROMAvsDDMB

    ProShares Ultra Technology · ProShares Ultra Dow30

    Expense ratio
    0.93% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UPWBvsDDMB

    ProShares Ultra Utilities · ProShares Ultra Dow30

    Expense ratio
    0.95% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.