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UST vs UYG

ProShares Ultra 7-10 Year Treasury

USTBNYSE Arca

ProShares Ultra Financials

UYGANYSE Arca

Overlap

Expense ratio

UYG −0.02pt a year

UST0.95%UYG0.93%

Avg volume · 30D

UYG 2.1×the volume

UST8.23KUYG17.3K

10Y return · a year

UYG +19.4pt

UST−2.4%UYG+17.0%

UST vs UYG Performance

Oct 29, 2021 – Oct 30, 2026

−32.1%UST+56.5%UYG

Oct 29, 2021 to Oct 30, 2026. UST −32.1%. UYG +56.5%. Use the arrow keys to read each point.−50%0%25%75%Oct 2021Apr 2024Oct 2026
Expense ratio
UST 0.95%
UYG 0.93%, better
Fund size
UST $16M
UYG $777M
1Y total return
UST −6.8%
UYG +11.5%, better
Yield (12M)
UST 3.49%
UYG 11.13%, better
Holdings
UST 2
UYG 83
Avg volume (30D)
UST 8.23K sh
UYG 17.3K sh, better
NAV per share
UST $40.03
UYG $93.27
52W range

ETF.net Grade

UST: Cost 51, Risk 65, Mission not scored, Tradability 68, Holdings 47, Durability 65. UYG: Cost 70, Risk 76, Mission not scored, Tradability 78, Holdings not scored, Durability 80.
Pillar letters and Scores for UST, UYG, with each pillar’s weight
PillarUSTUYG
Cost30% weightC51A70Higher
Mission25% weightNot scoredNot scored
Risk15% weightB65A76Higher
Tradability15% weightB68A78Higher
Holdings10% weightC47Not 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. UST 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 UST 13th 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 13BUBTProShares Ultra 20+ Year TreasuryScore 58
  5. Rank 13BUSTProShares Ultra 7-10 Year TreasuryScore 58
  6. Rank 13BUXIProShares Ultra IndustrialsScore 58

Our read on each fund

ETF.net Research

USTBProShares Ultra 7-10 Year Treasury

UYGAProShares Ultra Financials

In short

UST While ProShares' leveraged lineup chases tech and semis, UST takes the other side: 2x the daily move of the ICE U.S. Treasury 7-10 Year Bond Index, built with swaps and reset every day. A rate bet, not a stock bet.

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

UST UST seeks daily investment results before fees and expenses that correspond to twice the daily performance of the ICE U.S. Treasury 7-10 Year Bond 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

  • UST The rate play on a shelf full of equity funds: 2x the daily move of an index of 7-10 year Treasuries. ProShares calls it the only ETF targeting 2x that benchmark.proshares.com
  • Trading since January 2010, so the daily-reset machinery has run through more than a decade of rate cycles. Distributions come quarterly.
  • 0.95% net of a waiver through September 30, 2027 (1.24% gross): near the leveraged-category median, matching DDM's 0.95% and a touch above QLD's 0.89%, also waived to that date.
  • Ranks among the stronger implementations in a crowded leveraged peer group.
  • 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

  • UST The 2x target resets daily, so over weeks or months the result can diverge from 2x the index move, and choppy markets widen that gap.proshares.com
  • A small, thinly traded corner of the leveraged shelf, so spreads can run wider than on the big 2x equity funds.
  • Exposure comes mainly from index swaps with large financial institutions rather than owning the notes outright, which brings counterparty terms into the picture.sec.gov
  • 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 UST profile⁠

Full UYG profile⁠

UST vs 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.

UST vs UYG Cost

Overpaying UST vs UYG

$330

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

  • UST 0.95%

    $17,869

  • UYG 0.93%

    $17,539

$10,000
30 years

Cost over time

  • UST 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$20K051015202530UST $17,869UYG $17,539

Year by year

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

Expense ratio

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

UYG 29th cheapest of 95 funds

UST 32nd cheapest of 95 funds

UST vs UYG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
UST 3.49%
UYG 11.13%, better
Payout (12M)
UST $1.40
UYG $10.38
Last payment
UST $0.31
UYG $0.09
Ex-dividend
UST Sep 23, 2026
UYG Sep 23, 2026
Paid on
UST Sep 29, 2026
UYG Sep 29, 2026
Frequency
UST Quarterly
UYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

USTQuarterly · 36 paymentsAll UST payments⁠
One bar per payment. 36 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.06; Jun 21, 2017 $0.13; Sep 27, 2017 $0.13; Dec 26, 2017 $0.17; Mar 21, 2018 $0.16; Jun 20, 2018 $0.19; Sep 26, 2018 $0.26; Dec 26, 2018 $0.35; Mar 20, 2019 $0.29; Jun 25, 2019 $0.17; Sep 25, 2019 $0.15; Dec 24, 2019 $0.28; Mar 25, 2020 $0.11; Jun 24, 2020 $0.11; Sep 23, 2020 $0.09; Dec 23, 2020 $0.08; Mar 23, 2021 $0.05; Jun 22, 2021 $0.07; Sep 22, 2021 $0.02; Dec 23, 2021 $0.04; Dec 22, 2022 $0.22; Mar 22, 2023 $0.20; Jun 21, 2023 $0.60; Sep 20, 2023 $0.39; Dec 20, 2023 $0.40; Mar 20, 2024 $0.43; Jun 26, 2024 $0.38; Sep 25, 2024 $0.29; Dec 23, 2024 $0.59; Mar 26, 2025 $0.31; Jun 25, 2025 $0.30; Sep 24, 2025 $0.40; Dec 24, 2025 $0.57; Mar 25, 2026 $0.19; Jun 24, 2026 $0.32; Sep 23, 2026 $0.31. 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

UST vs UYG Risk

Fall from peak · 5 years

  • UST
  • 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
UST 13.4%, betterUYG 30.5%
Return per unit of riskSharpe ratio, 3 years
UST 0.03UYG 1.04, better
Worst fallMax drawdown, 5 years
UST −42.3%, betterUYG −47.8%
Market sensitivityBeta, 5 years
UST 2.32UYG 1.58

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