URE vs UYG

UREBProShares Ultra Real Estate

UYGAProShares Ultra Financials

In short

URE A 2x dial on the real estate slice of the S&P 500: about 40 landlords, towers and warehouses, geared up and reset every single day. Listed January 2007, same mandate ever since.

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

URE The fund seeks daily results, before fees and expenses, equal to twice the daily performance of the S&P Real Estate 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

• URE Listed in January 2007, URE has run the same 2x real estate mandate through the housing bust and everything after, a long life for a geared sector fund.proshares.com
• The reference index holds the real estate companies inside the S&P 500, about 40 large names, and URE targets twice that index's daily move.cboe.com
• 0.95% net of a waiver through September 30, 2027, near the category median: level with DDM at 0.95%, just above QLD at 0.89% (net of a waiver through September 30, 2027).
• One of the stronger builds in a crowded leveraged bull field: a plain large-cap sector index, a clear 2x mandate and a shop that has kept the lights on since 2007.

• 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

• URE The 2x target applies to one day. Hold longer and each day compounds on the last, so multi-day results can land above or below twice the index move, especially in choppy tape.proshares.com
• Thinly traded next to the headline geared funds, with a smaller asset base, so spreads can widen and larger orders need more care.
• The 0.95% rate leans on a waiver running through September 30, 2027; gross expenses are 1.12% without it.

• 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 URE profile⁠

Full UYG profile⁠