UDOW vs URTY

UDOWAProShares UltraPro Dow30

URTYBProShares UltraPro Russell2000

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.

URTY The quieter way to put 3x daily torque on the Russell 2000. ProShares has run URTY since 2010 at 0.95% net of a waiver through September 30, 2027, under the fee on the better-known 3x small-cap rival.

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.

URTY URTY seeks daily investment results, before fees and expenses, corresponding to three times the daily performance of the Russell 2000 Index. Because the objective is daily, returns over periods longer than one day may differ materially from the target.

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.

• URTY The mandate is literal: three times the Russell 2000's daily move, before fees, reset every evening. No forecast, no discretion, one trading day at a time.proshares.com
• 0.95% net of a waiver through September 30, 2027 (1.13% gross), near the norm for 3x bull funds and under TNA, whose 1.05% is itself waived through September 1, 2027.
• Running since 2010, it has stayed close to its stated daily multiple and stands in the upper half of the 3x long funds we grade.
• The reference exposure is roughly 2,000 US small caps, not a handful of names, and the fund distributes quarterly.

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

• URTY The reset is daily. Hold longer, especially through choppy tape, and results over that stretch can differ materially from 3x the index.
• Small-cap swings land tripled in both directions, and a deep drawdown takes an outsized move to climb back from.
• Trading is moderate for the category rather than heavyweight, so bid-ask spreads are worth a look.

Full UDOW profile⁠

Full URTY profile⁠