ProShares Ultra Palladium K-1 Free ETF (UPAL) belongs to the Leveraged Commodities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with UPAL. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to UPAL
UPAL charges 0.95% annually. There are 4 ETFs in the Leveraged Commodities category with lower expense ratios, going as low as 0.50%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Gold Strategy PLUS Income ETF | 0.50% | 36.00M | Dec 2024 | UPAL vs YGLD | |
| DB Gold Double Long Exchange Traded Notes | 0.75% | 228.65M | Feb 2008 | UPAL vs DGP | |
| DB Gold Double Short Exchange Traded Notes | 0.75% | 941.91K | Feb 2008 | UPAL vs DZZ | |
| ProShares Ultra Silver | 0.93% | 1.08B | Dec 2008 | UPAL vs AGQ | |
| ProShares Ultra Platinum K-1 Free ETF | 0.95% | 2.36M | Apr 2026 | UPAL vs UPLT |
Best Risk-Adjusted Alternatives to UPAL
Among 15 ETFs in the Leveraged Commodities category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 47.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| MicroSectors Oil & Gas Exploration & Production 3X... | 47 | 65.33M | Mar 2017 | UPAL vs OILU | |
| ProShares Ultra Bloomberg Crude Oil | 44 | 417.03M | Nov 2008 | UPAL vs UCO | |
| DB Gold Double Short Exchange Traded Notes | 22 | 941.91K | Feb 2008 | UPAL vs DZZ | |
| DB Gold Double Long Exchange Traded Notes | 21 | 228.65M | Feb 2008 | UPAL vs DGP | |
| ProShares Ultra Silver | 19 | 1.08B | Dec 2008 | UPAL vs AGQ |
Top Performing UPAL Alternatives (YTD)
Among 16 ETFs in the Leveraged Commodities category with YTD return data, the top-performing alternatives shown here go as high as 114.54%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| ProShares Ultra Bloomberg Crude Oil | 114.54% | 417.03M | Nov 2008 | UPAL vs UCO | |
| MicroSectors Oil & Gas Exploration & Production 3X... | 79.42% | 65.33M | Mar 2017 | UPAL vs OILU | |
| Teucrium 2x Daily Wheat ETF | 52.30% | 8.22M | Dec 2024 | UPAL vs WXET | |
| ProShares UltraShort Gold | 3.56% | 130.67M | Dec 2008 | UPAL vs GLL | |
| Teucrium 2x Daily Corn ETF | -9.43% | 4.25M | Dec 2024 | UPAL vs CXRN |
Lowest Volatility Alternatives to UPAL
UPAL has 79.47% 1-year volatility. There are 13 ETFs in the Leveraged Commodities category with lower 1-year volatility, going as low as 36.28%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill Gold WeeklyPay ETF | 36.28% | 16.16M | Oct 2025 | UPAL vs GLDW | |
| Teucrium 2x Daily Corn ETF | 36.99% | 4.25M | Dec 2024 | UPAL vs CXRN | |
| Simplify Gold Strategy PLUS Income ETF | 42.36% | 36.00M | Dec 2024 | UPAL vs YGLD | |
| Teucrium 2x Daily Wheat ETF | 50.04% | 8.22M | Dec 2024 | UPAL vs WXET | |
| Direxion Daily Gold Bull 2X ETF | 52.24% | 2.36M | May 2026 | UPAL vs UGLD |
Lowest Drawdown Alternatives to UPAL
Among 15 ETFs in the Leveraged Commodities category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -30.76%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Teucrium 2x Daily Wheat ETF | -30.76% | 8.22M | Dec 2024 | UPAL vs WXET | |
| Teucrium 2x Daily Corn ETF | -31.96% | 4.25M | Dec 2024 | UPAL vs CXRN | |
| ProShares Ultra Bloomberg Crude Oil | -38.55% | 417.03M | Nov 2008 | UPAL vs UCO | |
| Simplify Gold Strategy PLUS Income ETF | -43.35% | 36.00M | Dec 2024 | UPAL vs YGLD | |
| MicroSectors Oil & Gas Exploration & Production 3X... | -46.49% | 65.33M | Mar 2017 | UPAL vs OILU |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, QLD, BITO and span 10 categories. AUM among these funds goes as high as $33B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 38 | 28.83% | 32.81B | Feb 2010 | UPAL vs TQQQ | |
| ProShares Ultra QQQ | Leveraged Equities | 42 | 22.29% | 12.97B | Jun 2006 | UPAL vs QLD | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -26.94% | 1.40B | Oct 2021 | UPAL vs BITO | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 47 | 20.15% | 5.20B | Jun 2009 | UPAL vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 51 | 14.99% | 7.93B | Jun 2006 | UPAL vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 37 | 9.79% | 11.64B | Oct 2013 | UPAL vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 61 | 58.94% | 2.53B | Jan 2007 | UPAL vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 2 | -36.18% | 2.11B | Feb 2010 | UPAL vs SQQQ | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 46 | 11.01% | 395.28M | Mar 2024 | UPAL vs IQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 2 | -31.12% | 251.64M | Oct 2011 | UPAL vs UVXY |
Often Compared With UPAL
Investors most often compare UPAL with UGL, KOLD, SCO. These 5 comparison targets span 4 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares Ultra Gold | Leveraged Commodities | 19 | -21.85% | 637.90M | Dec 2008 | UPAL vs UGL | |
| ProShares UltraShort Bloomberg Natural Gas | Oil & Gas, Inverse Commodities, Leveraged Commodities | 19 | -19.90% | 111.42M | Oct 2011 | UPAL vs KOLD | |
| ProShares UltraShort Bloomberg Crude Oil | Oil & Gas, Leveraged Commodities | 1 | -65.36% | 622.61M | Nov 2008 | UPAL vs SCO | |
| Defiance Daily Target 2X Long Copper ETF | Copper, Leveraged Commodities | — | — | 5.16M | Feb 2026 | UPAL vs COPZ | |
| MicroSectors Gold 3X Leveraged ETN | Leveraged Commodities | 14 | -40.62% | 115.40M | Feb 2023 | UPAL vs SHNY |
Compare UPAL with Any Fund or Stock
Compare UPAL with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair UPAL with funds that move differently
ProShares Ultra Palladium K-1 Free ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to UPAL.
Explore UPAL Diversifiers