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SAA vs UYG

ProShares Ultra SmallCap600

SAACNYSE Arca

ProShares Ultra Financials

UYGANYSE Arca

Overlap

Expense ratio

UYG −0.02pt a year

SAA0.95%UYG0.93%

Avg volume · 30D

UYG 4.3×the volume

SAA4.04KUYG17.3K

10Y return · a year

UYG +5.5pt

SAA+11.5%UYG+17.0%

SAA vs UYG Performance

Oct 29, 2021 – Oct 30, 2026

+9.4%SAA+56.5%UYG

Oct 29, 2021 to Oct 30, 2026. SAA +9.4%. UYG +56.5%. Use the arrow keys to read each point.−50%−25%25%75%Oct 2021Apr 2024Oct 2026
Expense ratio
SAA 0.95%
UYG 0.93%, better
Fund size
SAA $26M
UYG $777M
1Y total return
SAA +34.7%, better
UYG +11.5%
Yield (12M)
SAA 0.74%
UYG 11.13%, better
Holdings
SAA 603
UYG 83
Avg volume (30D)
SAA 4.04K sh
UYG 17.3K sh, better
NAV per share
SAA $33.32
UYG $93.27
52W range

ETF.net Grade

SAA: Cost 51, Risk 65, Mission not scored, Tradability 49, Holdings 79, Durability 69. UYG: Cost 70, Risk 76, Mission not scored, Tradability 78, Holdings not scored, Durability 80.
Pillar letters and Scores for SAA, UYG, with each pillar’s weight
PillarSAAUYG
Cost30% weightC51A70Higher
Mission25% weightNot scoredNot scored
Risk15% weightB65A76Higher
Tradability15% weightC49A78Higher
Holdings10% weightA79Not scored
Durability5% weightB69A80Higher

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. SAA and UYG 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 ›

UYG ranks 2nd and SAA 22nd 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 22CMAGXRoundhill Daily 2X Long Magnificent Seven ETFScore 54
  5. Rank 22CSAAProShares Ultra SmallCap600Score 54
  6. Rank 24CQQXLProShares Ultra QQQ Top 30Score 53

Our read on each fund

ETF.net Research

SAACProShares Ultra SmallCap600

UYGAProShares Ultra Financials

In short

SAA Two times the daily move of the S&P SmallCap 600, the small-cap index that asks companies to earn money before it lets them in. Running since 2007, it is the quality-screened corner of leveraged small-cap trading.

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

SAA ProShares Ultra SmallCap600 aims, before fees and expenses, to deliver daily results equal to twice the daily performance of the S&P SmallCap 600 Index.

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

  • SAA Aims to deliver 2x the daily move of the S&P SmallCap 600, an index S&P distinguishes from other small-cap benchmarks by its earnings requirement.proshares.comspglobal.com
  • 0.95% net of a waiver through September 30, 2027, near the typical leveraged bull fee and level with DDM's 0.95%.
  • Listed in January 2007, so the daily-reset machinery has run through nearly two decades of markets, 2008 included.
  • Spreads its exposure across roughly 600 small caps, and sits in the top quartile of the leveraged bull funds we grade.
  • 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

  • SAA The 2x target resets every day. Hold longer and compounding takes over, so results can diverge from twice the index move over that stretch, most of all in choppy markets.proshares.com
  • A small fund that trades thinly, so bid-ask spreads can run wider than at the headline leveraged ETFs.
  • That 0.95% leans on a waiver set to run through September 30, 2027. Gross expenses are 1.48%.
  • 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 SAA profile⁠

Full UYG profile⁠

SAA vs UYG 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.

SAA vs UYG Cost

Overpaying SAA vs UYG

$330

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

  • SAA 0.95%

    $17,869

  • UYG 0.93%

    $17,539

$10,000
30 years

Cost over time

  • SAA 0.95%
  • UYG 0.93%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SAA $17,869UYG $17,539

Year by year

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

Expense ratio

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

UYG 29th cheapest of 95 funds

SAA 32nd cheapest of 95 funds

SAA vs UYG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SAA 0.74%
UYG 11.13%, better
Payout (12M)
SAA $0.25
UYG $10.38
Last payment
SAA $0.04
UYG $0.09
Ex-dividend
SAA Sep 23, 2026
UYG Sep 23, 2026
Paid on
SAA Sep 29, 2026
UYG Sep 29, 2026
Frequency
SAA Quarterly
UYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SAAQuarterly · 22 paymentsAll SAA payments⁠
One bar per payment. 22 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.0012; Dec 26, 2018 $0.04; Mar 20, 2019 $0.0099; Jun 25, 2019 $0.03; Dec 24, 2019 $0.03; Dec 23, 2020 $0.0064; Sep 21, 2022 $0.03; Dec 22, 2022 $0.07; Jun 21, 2023 $0.05; Sep 20, 2023 $0.06; Dec 20, 2023 $0.11; Mar 20, 2024 $0.04; Jun 26, 2024 $0.08; Sep 25, 2024 $0.09; Dec 23, 2024 $0.14; Mar 26, 2025 $0.05; Jun 25, 2025 $0.01; Sep 24, 2025 $0.08; Dec 24, 2025 $0.13; Mar 25, 2026 $0.04; Jun 24, 2026 $0.03; Sep 23, 2026 $0.04. Use the arrow keys to read each point.$0$102017202020232026YTD
UYGQuarterly · 39 paymentsAll UYG payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.02; Jun 21, 2017 $0.02; Sep 27, 2017 $0.07; Dec 26, 2017 $0.12; Mar 21, 2018 $0.05; Jun 20, 2018 $0.08; Sep 26, 2018 $0.11; Dec 26, 2018 $0.18; Mar 20, 2019 $0.08; Jun 25, 2019 $0.09; Sep 25, 2019 $0.14; Dec 24, 2019 $0.17; Mar 25, 2020 $0.12; Jun 24, 2020 $0.05; Sep 23, 2020 $0.03; Dec 23, 2020 $0.08; Mar 23, 2021 $0.03; Jun 22, 2021 $0.02; Sep 22, 2021 $0.03; Dec 23, 2021 $3.19; Mar 23, 2022 $0.04; Jun 22, 2022 $0.04; Sep 21, 2022 $0.06; Dec 22, 2022 $0.20; Mar 22, 2023 $0.09; Jun 21, 2023 $0.11; Sep 20, 2023 $0.09; Dec 20, 2023 $0.15; Mar 20, 2024 $0.04; Jun 26, 2024 $0.11; Sep 25, 2024 $0.09; Dec 23, 2024 $0.20; Mar 26, 2025 $0.27; Jun 25, 2025 $0.13; Sep 24, 2025 $0.38; Dec 24, 2025 $9.97; Mar 25, 2026 $0.20; Jun 24, 2026 $0.11; Sep 23, 2026 $0.09. Use the arrow keys to read each point.$0$102017202020232026YTD

SAA vs UYG Risk

Fall from peak · 5 years

  • SAA
  • UYG
Oct 29, 2021 to Oct 30, 2026. Worst fall: SAA −55.3% · Apr 2025. Use the arrow keys to read each point.−50%−40%−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
SAA 38.0%UYG 30.5%, better
Return per unit of riskSharpe ratio, 3 years
SAA 0.68UYG 1.04, better
Worst fallMax drawdown, 5 years
SAA −55.3%UYG −47.8%, better
Market sensitivityBeta, 5 years
SAA 2.06UYG 1.58

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