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UDOW vs UMDD

ProShares UltraPro Dow30

UDOWANYSE Arca

ProShares UltraPro MidCap 400

UMDDBNYSE Arca

Overlap

Expense ratio

UDOW −0.01pt a year

UDOW0.94%UMDD0.95%

Avg volume · 30D

UDOW 290.5×the volume

UDOW1.72MUMDD5.94K

10Y return · a year

UDOW +12.1pt

UDOW+23.9%UMDD+11.8%

UDOW vs UMDD Performance

Nov 4, 2021 – Nov 4, 2026

+77.0%UDOW−9.7%UMDD

Nov 4, 2021 to Nov 4, 2026. UDOW +77.0%. UMDD −9.7%. Use the arrow keys to read each point.−50%25%50%100%Nov 2021May 2024Nov 2026
Expense ratio
UDOW 0.94%, better
UMDD 0.95%
Fund size
UDOW $914M
UMDD $28M
1Y total return
UDOW +30.5%
UMDD +36.6%, better
Yield (12M)
UDOW 0.97%, better
UMDD 0.58%
Holdings
UDOW 33
UMDD 401
Avg volume (30D)
UDOW 1.72M sh, better
UMDD 5.94K sh
NAV per share
UDOW $71.38
UMDD $32.62
52W range

ETF.net Grade

UDOW: Cost 78, Risk 78, Mission 77, Tradability 89, Holdings 55, Durability 71. UMDD: Cost 62, Risk 67, Mission not scored, Tradability 39, Holdings not scored, Durability 49.
Pillar letters and Scores for UDOW, UMDD, with each pillar’s weight
PillarUDOWUMDD
Cost30% weightA78HigherB62
Mission25% weightA77Not scored
Risk15% weightA78HigherB67
Tradability15% weightA89HigherD39
Holdings10% weightB55Not scored
Durability5% weightA71HigherC49

Rank among 3x Leveraged Long funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. UDOW and UMDD are both graded against the same 30 3x Leveraged Long funds, so their Grades compare head to head.

3x Leveraged Long⁠

Category · 30 funds
See all 30 ›

UDOW ranks 2nd and UMDD 10th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AFASDirexion Daily Financial Bull 3X ETFScore 80
  3. Rank 2AUDOWProShares UltraPro Dow30Score 80
  4. Rank 4ASOXLDirexion Daily Semiconductor Bull 3X ETFScore 77
  5. Rank 9BURTYProShares UltraPro Russell2000Score 63
  6. Rank 10BUMDDProShares UltraPro MidCap 400Score 56
  7. Rank 11CLABUDirexion Daily S&P Biotech Bull 3X SharesScore 54

Our read on each fund

ETF.net Research

UDOWAProShares UltraPro Dow30

UMDDBProShares UltraPro MidCap 400

In short

UDOW The only 3x daily play on the Dow: 30 blue-chip names, price-weighted, reset every session. It is the industrial cousin of the semis-and-Nasdaq crowd that fills the leveraged aisle, and it has run since 2010.

UMDD The 3x shelf crowds into big tech and chips. UMDD points at the middle of the market: three times the daily move of the S&P MidCap 400, for 0.95% net of a waiver through September 30, 2027.

Stated mandate

UDOW The Fund seeks daily results equal to three times the daily performance of the Dow Jones Industrial Average before fees and expenses. It uses equity securities, derivatives, and money-market instruments to pursue that daily leveraged exposure.

UMDD The fund seeks daily investment results, before fees and expenses, corresponding to three times the daily performance of the S&P MidCap 400 Index.

Why people hold it

  • UDOW ProShares calls UDOW the only ETF targeting 3x the daily move of the Dow. In a 3x aisle crowded with semiconductor and Nasdaq bets, the blue-chip index has exactly one lever.proshares.com
  • The Dow is a price-weighted measure of 30 US blue chips, so the exposure leans industrials, financials and health care instead of megacap tech.spglobal.com
  • Trading since 2010, it has run through several full market cycles and stays actively traded, which matters when the holding period is hours rather than years.
  • Among the stronger implementations in its 3x bull peer group, it stays close to its stated daily target and trades with the depth short-horizon traders look for.
  • UMDD A single ticker for 3x daily mid-cap exposure, a corner of the 3x shelf dominated by the Nasdaq-100, the Dow and sector bets.proshares.com
  • The leverage is packaged inside the fund, so you get magnified exposure to about 400 mid-sized US companies without running your own margin account.proshares.com
  • Trading since 2010, which is long tenure for a daily-reset product, and it still rates in the upper half of its 3x peer group.
  • 0.95% net of a waiver through September 30, 2027 sits near the 3x category norm; stablemate TQQQ is cheaper at 0.78%, net of a waiver through the same date.

Worth knowing

  • UDOW The 3x target resets every day. Over longer stretches, compounding and volatility can push results away from 3x the index move, as the prospectus spells out.proshares.com
  • At 0.94% with no waiver propping it up, cost sits near the typical 3x bull fund; TQQQ charges 0.78% net of a waiver through September 30, 2027.
  • Exposure is built with derivatives and cash instruments alongside stocks, so counterparty and derivative risk ride along with the market call.proshares.com
  • UMDD The 3x target resets daily. Hold longer and compounding takes over, so results over weeks or months can diverge widely from 3x the index move, especially in choppy tape.proshares.com
  • Thinly traded next to the headline 3x funds, so spreads and limit orders matter more here than on TQQQ or SOXL.
  • The 0.95% rate is contractual, not permanent: gross expenses are 1.39%, with the waiver running to September 30, 2027.

Full UDOW profile⁠

Full UMDD profile⁠

UDOW vs UMDD 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.

UDOW vs UMDD Cost

Overpaying UMDD vs UDOW

$165

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

  • UDOW 0.94%

    $17,704

  • UMDD 0.95%

    $17,869

$10,000
30 years

Cost over time

  • UDOW 0.94%
  • UMDD 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$20K051015202530UMDD $17,869UDOW $17,704

Year by year

YearUDOWUMDDOverpaying
10$1,661$1,678$17
20$6,260$6,322$62
30$17,704$17,869$165

Expense ratio

  • 0.94%UDOW, cheaper
  • 0.95%UMDD
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

UDOW 7th cheapest of 30 funds

UMDD 9th cheapest of 30 funds

UDOW vs UMDD Dividends

Last 12 months to Nov 4, 2026
Yield (12M)
UDOW 0.97%, better
UMDD 0.58%
Payout (12M)
UDOW $0.69
UMDD $0.19
Last payment
UDOW $0.15
UMDD $0.03
Ex-dividend
UDOW Sep 23, 2026
UMDD Sep 23, 2026
Paid on
UDOW Sep 29, 2026
UMDD Sep 29, 2026
Frequency
UDOW Quarterly
UMDD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

UDOWQuarterly · 15 paymentsAll UDOW payments⁠
One bar per payment. 15 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.007; Dec 26, 2017 $0.02; Dec 24, 2019 $0.07; Dec 23, 2020 $0.03; Dec 22, 2022 $0.09; Mar 20, 2024 $0.07; Jun 26, 2024 $0.16; Dec 23, 2024 $0.07; Mar 26, 2025 $0.16; Jun 25, 2025 $0.22; Sep 24, 2025 $0.23; Dec 24, 2025 $0.20; Mar 25, 2026 $0.14; Jun 24, 2026 $0.21; Sep 23, 2026 $0.15. Use the arrow keys to read each point.$0$0.252017202020232026YTD
UMDDQuarterly · 26 paymentsAll UMDD payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Sep 26, 2018 $0.0057; Dec 26, 2018 $0.04; Mar 20, 2019 $0.02; Jun 25, 2019 $0.04; Sep 25, 2019 $0.06; Dec 24, 2019 $0.04; Mar 25, 2020 $0.01; Dec 23, 2020 $0.0046; Dec 23, 2021 $0.02; Mar 23, 2022 $0.01; Jun 22, 2022 $0.01; Sep 21, 2022 $0.03; Dec 22, 2022 $0.03; Mar 22, 2023 $0.005; Dec 20, 2023 $0.04; Mar 20, 2024 $0.0099; Jun 26, 2024 $0.04; Sep 25, 2024 $0.05; Dec 23, 2024 $0.11; Mar 26, 2025 $0.03; Jun 25, 2025 $0.07; Sep 24, 2025 $0.08; Dec 24, 2025 $0.08; Mar 25, 2026 $0.04; Jun 24, 2026 $0.04; Sep 23, 2026 $0.03. Use the arrow keys to read each point.$0$0.252017202020232026YTD

UDOW vs UMDD Risk

Fall from peak · 5 years

  • UDOW
  • UMDD
Nov 4, 2021 to Nov 4, 2026. Worst fall: UMDD −64.6% · Oct 2023. Use the arrow keys to read each point.−60%−40%−20%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
UDOW 37.2%, betterUMDD 46.7%
Return per unit of riskSharpe ratio, 3 years
UDOW 0.95, betterUMDD 0.71
Worst fallMax drawdown, 5 years
UDOW −56.0%, betterUMDD −64.6%
Market sensitivityBeta, 5 years
UDOW 2.62UMDD 3.07

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