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ROM vs UWM

ProShares Ultra Technology

ROMANYSE Arca

ProShares Ultra Russell2000

UWMBNYSE Arca

Overlap

Expense ratio

ROM −0.02pt a year

ROM0.93%UWM0.95%

Avg volume · 30D

UWM 5.9×the volume

ROM47.7KUWM281K

10Y return · a year

ROM +25.8pt

ROM+36.6%UWM+10.8%

ROM vs UWM Performance

Oct 29, 2021 – Oct 30, 2026

+126.1%ROM+0.6%UWM

Oct 29, 2021 to Oct 30, 2026. ROM +126.1%. UWM +0.6%. Use the arrow keys to read each point.−50%50%200%Oct 2021Apr 2024Oct 2026
Expense ratio
ROM 0.93%, better
UWM 0.95%
Fund size
ROM $1.15B
UWM $216M
1Y total return
ROM +26.5%, better
UWM +20.6%
Yield (12M)
ROM 0.03%
UWM 0.86%, better
Holdings
ROM 85
UWM 1968
Avg volume (30D)
ROM 47.7K sh
UWM 281K sh, better
NAV per share
ROM $132.18
UWM $56.94
52W range

ETF.net Grade

ROM: Cost 70, Risk 56, Mission not scored, Tradability 88, Holdings not scored, Durability 81. UWM: Cost 51, Risk 63, Mission 72, Tradability 85, Holdings 56, Durability 77.
Pillar letters and Scores for ROM, UWM, with each pillar’s weight
PillarROMUWM
Cost30% weightA70HigherC51
Mission25% weightNot scoredA72
Risk15% weightB56B63Higher
Tradability15% weightA88HigherA85
Holdings10% weightNot scoredB56
Durability5% weightA81HigherA77

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 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 ›

ROM ranks 3rd 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 9BMVVProShares Ultra MidCap400Score 63
  6. Rank 9BUWMProShares Ultra Russell2000Score 63
  7. Rank 11BRXLProShares Ultra Health CareScore 61

Our read on each fund

ETF.net Research

ROMAProShares Ultra Technology

UWMBProShares Ultra Russell2000

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.

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

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.

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

  • 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.
  • 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 ROM profile⁠

Full UWM profile⁠

ROM 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.

ROM vs UWM Cost

Overpaying UWM vs ROM

$330

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

  • ROM 0.93%

    $17,539

  • UWM 0.95%

    $17,869

$10,000
30 years

Cost over time

  • ROM 0.93%
  • UWM 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$20K051015202530UWM $17,869ROM $17,539

Year by year

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

ROM 29th cheapest of 95 funds

UWM 32nd cheapest of 95 funds

ROM vs UWM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ROM 0.03%
UWM 0.86%, better
Payout (12M)
ROM $0.04
UWM $0.49
Last payment
ROM $0.02
UWM $0.16
Ex-dividend
ROM Mar 25, 2026
UWM Sep 23, 2026
Paid on
ROM Mar 31, 2026
UWM Sep 29, 2026
Frequency
ROM Quarterly
UWM 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$0.202017202020232026YTD
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

ROM vs UWM Risk

Fall from peak · 5 years

  • ROM
  • UWM
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%UWM 38.6%, better
Return per unit of riskSharpe ratio, 3 years
ROM 0.97, betterUWM 0.78
Worst fallMax drawdown, 5 years
ROM −67.6%UWM −61.6%, better
Market sensitivityBeta, 5 years
ROM 3.09UWM 2.54

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