UPLT vs UYG

UPLTDProShares Ultra Platinum K-1 Free ETF

UYGAProShares Ultra Financials

In short

UPLT Platinum, with the volume turned up. UPLT is the first and only ETF built to track twice platinum's daily move, and it lives inside a 1940 Act fund, so holders get a 1099 instead of a K-1.

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

UPLT The Fund seeks daily investment results, before fees and expenses, that correspond to two times the daily performance of platinum's price.

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

• UPLT The first and only ETF targeting 2x the daily return of platinum, a corner of the metals market geared funds had skipped until 2026.proshares.com
• Built as a registered fund rather than a commodity partnership, so tax season brings a 1099, not a K-1.proshares.com
• 0.95% net of a waiver through September 30, 2027, near the typical fee among leveraged bull funds and level with ProShares' own Ultra Dow30 (DDM, 0.95%).
• Hits its daily 2x target through swaps benchmarked to the abrdn Physical Platinum Shares ETF (PPLT), so there's no physical metal or futures account on your end.sec.gov

• 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

• UPLT The 2x target resets every day. Hold longer and compounding plus platinum's swings can push results away from 2x the period's move, in either direction.sec.gov
• That 0.95% is a waived number good through September 30, 2027. The gross ratio is 5.30%, so the cost can step up if the waiver isn't extended.
• Launched in 2026 and still a small, thinly traded fund, so spreads can run wider than on the big geared index ETFs.

• 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 UPLT profile⁠

Full UYG profile⁠