ProShares UltraPro S&P 500 (UPRO)
UPRO is an exchange-traded fund (ETF) managed by ProShares, an ETF provider focusing on alternative and leveraged investment strategies. The fund is designed to track the performance of the S&P 500 Index, a benchmark that consists of 500 of the largest publicly traded companies in the United States.
A key feature of UPRO is its leveraged exposure to the S&P 500 Index, which means that it aims to provide investors with returns three times (300%) the daily performance of the index. This is achieved through the use of financial instruments such as futures contracts and options. As a result, UPRO is designed for investors looking for a high-risk, high-reward investment strategy and willing to accept significant volatility in their portfolio.
UPRO was launched on June 23, 2009, with an expense ratio of 0.92%, which is relatively high in contrast with other ETFs and mutual funds. It is important to note that investing in leveraged funds can be very risky, as numerous factors can significantly impact the returns of these products. Therefore, UPRO may not be suitable for investors with a low-risk tolerance or a buy-and-hold investment strategy.
ETF Info
| ISIN | US74347X8645 |
|---|---|
| CUSIP | 74347X864 |
| Issuer | ProShares |
| Inception Date | Jun 23, 2009 |
| Region | North America (U.S.) |
| Category | Leveraged Equities, Leveraged |
| Leveraged | 3x |
| Index Tracked | S&P 500 Index (300%) |
| ETF Home Page | www.proshares.com |
| Asset Class | Equity |
Asset Class Size | Large-Cap |
Asset Class Style | Blend |
Expense Ratio
The ProShares UltraPro S&P 500 has a high expense ratio of 0.92%, indicating higher-than-average management fees.
Share Price Chart
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Performance
The chart shows the growth of an initial investment of $10,000 in ProShares UltraPro S&P 500, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Compare to other instruments
Popular comparisons: UPRO vs. SPY, UPRO vs. SPXL, UPRO vs. TQQQ, UPRO vs. SSO, UPRO vs. VOO, UPRO vs. TMF, UPRO vs. QLD, UPRO vs. BRK-B, UPRO vs. BSV, UPRO vs. JEPI
Return
ProShares UltraPro S&P 500 had a return of 30.88% year-to-date (YTD) and -5.47% in the last 12 months. Over the past 10 years, ProShares UltraPro S&P 500 had an annualized return of 23.74%, outperforming the S&P 500 benchmark which had an annualized return of 10.30%.
| Period | Return | Benchmark |
|---|---|---|
| 1 month | 16.18% | 5.45% |
| Year-To-Date | 30.88% | 11.53% |
| 6 months | 8.30% | 5.17% |
| 1 year | -5.47% | 4.23% |
| 5 years (annualized) | 12.56% | 9.30% |
| 10 years (annualized) | 23.74% | 10.30% |
Monthly Returns Heatmap
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 18.13% | -8.73% | 9.42% | 3.60% | -0.15% | |||||||
| 2022 | 14.39% | -17.73% |
Risk-Adjusted Performance
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro S&P 500 (UPRO) and S&P 500 (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index | |
|---|---|---|---|---|---|
UPRO ProShares UltraPro S&P 500 | -0.08 | ||||
^GSPC S&P 500 | 0.21 |
Dividend History
ProShares UltraPro S&P 500 granted a 0.59% dividend yield in the last twelve months. The annual payout for that period amounted to $0.25 per share.
| Period | TTM | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.25 | $0.17 | $0.04 | $0.04 | $0.19 | $0.11 | $0.00 | $0.02 | $0.04 | $0.02 | $0.01 | $0.00 |
Dividend yield | 0.59% | 0.52% | 0.06% | 0.11% | 0.54% | 0.64% | 0.00% | 0.12% | 0.35% | 0.22% | 0.07% | 0.05% |
Monthly Dividends
The table displays the monthly dividend distributions for ProShares UltraPro S&P 500. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | |||||||
| 2022 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 |
| 2021 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 |
| 2020 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 |
| 2019 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 |
| 2018 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.05 |
| 2017 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2016 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2015 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 |
| 2014 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.01 |
| 2013 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2012 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
The table below shows the maximum drawdowns of the ProShares UltraPro S&P 500. A maximum drawdown is an indicator of risk. It shows a reduction in portfolio value from its maximum due to a series of losing trades.
The maximum drawdown since January 2010 for the ProShares UltraPro S&P 500 is 76.82%, recorded on Mar 23, 2020. It took 202 trading sessions for the portfolio to recover.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -76.82% | Feb 20, 2020 | 23 | Mar 23, 2020 | 202 | Jan 8, 2021 | 225 |
| -63.94% | Jan 4, 2022 | 195 | Oct 12, 2022 | — | — | — |
| -51.73% | May 2, 2011 | 108 | Oct 3, 2011 | 125 | Apr 2, 2012 | 233 |
| -50.28% | Sep 21, 2018 | 65 | Dec 24, 2018 | 137 | Jul 12, 2019 | 202 |
| -42.88% | Apr 26, 2010 | 49 | Jul 2, 2010 | 112 | Dec 10, 2010 | 161 |
Volatility Chart
The current ProShares UltraPro S&P 500 volatility is 11.10%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Alternatives
| Symbol | Inception | Expense Ratio | YTD Ret. | 10Y Ann. Ret. | Div. Yield | Max. Drawdown | Sharpe Ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPXL | Nov 5, 2008 | 1.02% | 31.3% | 23.1% | 0.6% | -76.9% | -0.1 | ||||
| SPY | Jan 22, 1993 | 0.09% | 12.3% | 12.2% | 1.8% | -55.2% | 0.3 | ||||
| SSO | Jun 21, 2006 | 0.90% | 21.8% | 19.1% | 0.4% | -84.7% | 0.1 | ||||
| TQQQ | Feb 9, 2010 | 0.95% | 114.1% | 38.1% | 0.7% | -81.7% | 0.2 | ||||
| VOO | Sep 7, 2010 | 0.03% | 12.4% | 12.2% | 1.9% | -34.0% | 0.3 |
Portfolios with ProShares UltraPro S&P 500
| Portfolio Name | YTD Return | 10Y Return | Div. Yield | 10Y Volatility | Max. Drawdown | Expense Ratio | Sharpe Ratio | Sortino ratio | Omega ratio | Calmar ratio | Ulcer Index |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stocks/Bonds 40/60 Leveraged Portfolio | 13.88% | 12.92% | 2.21% | 21.70% | -55.26% | 0.65% | -0.38 |