USD vs UYG

USDBProShares Ultra Semiconductors

UYGAProShares Ultra Financials

In short

USD The 2007 original in leveraged chip exposure: 2x the daily move of a Dow Jones U.S. semiconductor index, in a corner of the market where 3x grabs the headlines. Costs a flat 0.94%, no waiver.

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

USD The Fund seeks daily results, before fees and expenses, equal to two times the daily performance of the Dow Jones U.S. Semiconductors Index for a single day.

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

• USD Listed in 2007, among the first leveraged sector ETFs to come to market, and still a multi-billion-dollar, actively traded fund.proshares.com
• Two times, not three. Same daily-reset machinery as triple-leveraged chip funds, with a smaller multiplier doing the work.proshares.com
• 0.94% flat, no temporary waiver holding it down, and a hair above sibling ROM at 0.93%. That lands near the median for leveraged funds.
• Rules-based chip exposure, not a hand-built AI basket: roughly 40 US semiconductor names from a float-adjusted, cap-weighted S&P Dow Jones index.spglobal.com

• 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

• USD The 2x target applies to a single day. Hold longer and compounding takes over, so results over a stretch can differ from 2x the index over that stretch.proshares.com
• Cap weighting plus a narrow industry means a few giants steer the index, and the fund doubles whatever they do that day, up or down.spglobal.com
• Exposure comes from swaps and other financial instruments, so financing and counterparty terms sit between the index and what the fund delivers.proshares.com

• 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 USD profile⁠

Full UYG profile⁠