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UPW vs UYG

ProShares Ultra Utilities

UPWBNYSE Arca

ProShares Ultra Financials

UYGANYSE Arca

Overlap

28.5%by weight

Expense ratio

UYG −0.02pt a year

UPW0.95%UYG0.93%

Avg volume · 30D

UPW 1.1×the volume

UPW19.6KUYG17.3K

10Y return · a year

UYG +8.4pt

UPW+8.6%UYG+17.0%

UPW vs UYG Performance

Oct 29, 2021 – Oct 30, 2026

+39.5%UPW+56.5%UYG

Oct 29, 2021 to Oct 30, 2026. UPW +39.5%. UYG +56.5%. Use the arrow keys to read each point.−50%−25%0%25%75%Oct 2021Apr 2024Oct 2026
Expense ratio
UPW 0.95%
UYG 0.93%, better
Fund size
UPW $13M
UYG $777M
1Y total return
UPW −7.7%
UYG +11.5%, better
Yield (12M)
UPW 1.77%
UYG 11.13%, better
Holdings
UPW 32
UYG 83
Avg volume (30D)
UPW 19.6K sh, better
UYG 17.3K sh
NAV per share
UPW $21.49
UYG $93.27
52W range

ETF.net Grade

UPW: Cost 51, Risk 62, Mission not scored, Tradability 57, Holdings 69, Durability 65. UYG: Cost 70, Risk 76, Mission not scored, Tradability 78, Holdings not scored, Durability 80.
Pillar letters and Scores for UPW, UYG, with each pillar’s weight
PillarUPWUYG
Cost30% weightC51A70Higher
Mission25% weightNot scoredNot scored
Risk15% weightB62A76Higher
Tradability15% weightB57A78Higher
Holdings10% weightB69Not scored
Durability5% weightB65A80Higher

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. UPW 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 UPW 20th 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 18BUREProShares Ultra Real EstateScore 56
  5. Rank 20BUPWProShares Ultra UtilitiesScore 55
  6. Rank 20BYCLProShares Ultra YenScore 55

Our read on each fund

ETF.net Research

UPWBProShares Ultra Utilities

UYGAProShares Ultra Financials

In short

UPW Utilities are the market's sleepy defensive corner. UPW is the only ETF that bolts 2x daily leverage onto them, and it has been running that trade since 2007.

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

UPW The fund seeks daily investment results, before fees and expenses, equal to two times the daily performance of the S&P Utilities Select Sector SM 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

  • UPW ProShares says UPW is the only ETF targeting 2x the daily return of the utilities sector. One ticker, no rival lineup to price-shop.proshares.com
  • Fee is 0.95% net of a waiver through September 30, 2027, near the typical leveraged bull charge and the same net price as stablemate DDM (0.95%).
  • The benchmark is the utilities inside the S&P 500: a few dozen electric, gas, water and multi-utility names. ProShares moved to that index in 2023 from a broader Dow Jones gauge.proshares.comsec.gov
  • Trading since January 2007, a long run for a leveraged sector fund, and it pays distributions quarterly.
  • 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

  • UPW The 2x target covers one day only. Over longer holds compounding takes over: choppier, sideways stretches tend to drag results below 2x the index move.sec.gov
  • That 0.95% is net of a waiver. The gross expense ratio is 1.55%, so the sticker price past September 30, 2027 hangs on whether ProShares extends it.
  • Small and lightly traded next to the giant leveraged index ETFs, so bid-ask spreads and the size of your order matter more here.
  • 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 UPW profile⁠

Full UYG profile⁠

UPW vs UYG Holdings

How UPW and UYG differ

Overlap by weight

28.5%

Shared holdings make up 38.3% of UPW and 28.5% of UYG.

Level by level

  • Sector4 Sectors0.0%
  • Holdings0 in both28.5%
  • Countryby domicile98.4%
  • Asset classEquity100%

Sector

Sector weights in UPW and UYG, widest gap first
SectorMore in UPWMore in UYG
UtilitiesUPW +100.0 points
FinancialsUYG +98.2 points
TechnologyUYG +1.6 points
IndustrialsUYG +0.2 points

Country, concentration and asset class

Country by domicile

Country weights in UPW and UYG, widest gap first
CountryMore in UPWMore in UYG
United StatesUPW +1.6 points
SwitzerlandUYG +1.6 points

Concentration

Weight in the 10 largest Holdings

  • UPW72.5%
  • UYG66.9%

Securities held

  • UPW31
  • UYG82

Asset class

UPW
Equity
UYG
Equity

Holdings

  • Only in UPW31
  • In both0
  • Only in UYG82

Only in UPW

31 securities, 61.7% of UPW by weight

  • Nextera Energy Inc7.91%
  • Southern Co/The4.88%
  • Duke Energy Corp4.50%

Only in UYG

82 securities, 71.5% of UYG by weight

  • Berkshire Hathaway Inc-Cl B7.63%
  • JPMorgan Chase & Co6.77%
  • Visa Inc-Class A Shares5.33%

Weight gaps

UPW and UYG share no securities.

All 38 UPW holdings⁠All 84 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.

UPW vs UYG Cost

Overpaying UPW vs UYG

$330

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

  • UPW 0.95%

    $17,869

  • UYG 0.93%

    $17,539

$10,000
30 years

Cost over time

  • UPW 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$20K051015202530UPW $17,869UYG $17,539

Year by year

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

Expense ratio

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

UYG 29th cheapest of 95 funds

UPW 32nd cheapest of 95 funds

UPW vs UYG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
UPW 1.77%
UYG 11.13%, better
Payout (12M)
UPW $0.38
UYG $10.38
Last payment
UPW $0.13
UYG $0.09
Ex-dividend
UPW Sep 23, 2026
UYG Sep 23, 2026
Paid on
UPW Sep 29, 2026
UYG Sep 29, 2026
Frequency
UPW Quarterly
UYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

UPWQuarterly · 13 paymentsAll UPW payments⁠
One bar per payment. 13 payments from 2017 to 2026 YTD. Dec 24, 2019 $0.09; Mar 25, 2020 $0.06; Dec 23, 2020 $0.05; Mar 20, 2024 $0.06; Jun 26, 2024 $0.08; Dec 23, 2024 $0.13; Mar 26, 2025 $0.08; Jun 25, 2025 $0.11; Sep 24, 2025 $0.09; Dec 24, 2025 $0.09; Mar 25, 2026 $0.07; Jun 24, 2026 $0.10; Sep 23, 2026 $0.13. 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

UPW vs UYG Risk

Fall from peak · 5 years

  • UPW
  • UYG
Oct 29, 2021 to Oct 30, 2026. Worst fall: UYG −47.8% · Oct 2022. Use the arrow keys to read each point.−50%−40%−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
UPW 32.0%UYG 30.5%, better
Return per unit of riskSharpe ratio, 3 years
UPW 0.69UYG 1.04, better
Worst fallMax drawdown, 5 years
UPW −50.6%UYG −47.8%, better
Market sensitivityBeta, 5 years
UPW 0.80UYG 1.58

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