- ISIN
- US74347X8645
- CUSIP
- 74347X864
- Issuer
- ProShares
- Inception Date
- Jun 23, 2009
- Region
- North America (U.S.)
- Category
- Leveraged Equities, S&P 500
- Leveraged
- 3x
- Index Tracked
- S&P 500
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $5B
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
UPRO Performance Chart
ProShares UltraPro S&P 500 (UPRO) is up 20.7% since the beginning of the year. UPRO is currently trading at $139 per share. Investors who bought $1,000 worth of UPRO shares 5 years ago would now be looking at an investment worth $2,637.
Loading charts...
Returns By Period
ProShares UltraPro S&P 500 (UPRO) has returned 20.70% so far this year and 70.79% over the past 12 months. Looking at the last ten years, UPRO has achieved an annualized return of 29.76%, outperforming the S&P 500 Index benchmark, which averaged 13.61% per year.
ProShares UltraPro S&P 500
- 1D
- 1.54%
- 1M
- -3.92%
- YTD
- 20.70%
- 6M
- 21.09%
- 1Y
- 70.79%
- 3Y*
- 46.83%
- 5Y*
- 21.40%
- 10Y*
- 29.76%
Benchmark (S&P 500 Index)
- 1D
- 0.50%
- 1M
- -0.93%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 24.33%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
UPRO Monthly Returns History
Based on dividend-adjusted daily data since Jun 25, 2009, UPRO's average daily return is +0.17%, while the average monthly return is +3.26%. At this rate, an investment would double in approximately 1.8 years.
Historically, 64% of months were positive and 36% were negative. The best month was Apr 2020 with a return of +37.2%, while the worst month was Mar 2020 at -48.1%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.
On a daily basis, UPRO closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +28.0%, while the worst single day was Mar 16, 2020 at -35.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.33% | -3.60% | -15.71% | 33.20% | 15.48% | -6.55% | 20.70% | ||||||
| 2025 | 6.69% | -4.99% | -17.56% | -8.70% | 18.25% | 14.92% | 5.91% | 4.95% | 9.92% | 5.79% | -0.69% | -0.89% | 31.88% |
| 2024 | 3.45% | 14.67% | 8.84% | -12.97% | 14.28% | 9.82% | 1.81% | 5.07% | 5.12% | -4.10% | 17.41% | -8.41% | 63.57% |
| 2023 | 18.13% | -8.73% | 9.42% | 3.60% | -0.15% | 19.12% | 8.95% | -6.37% | -14.71% | -7.89% | 28.11% | 12.93% | 68.53% |
| 2022 | -15.89% | -9.85% | 10.07% | -25.41% | -2.13% | -24.93% | 28.62% | -13.33% | -26.91% | 23.06% | 14.39% | -17.73% | -56.84% |
| 2021 | -3.71% | 7.74% | 13.33% | 16.17% | 1.36% | 6.59% | 6.93% | 8.97% | -13.94% | 21.90% | -2.71% | 13.18% | 98.64% |
Benchmark Metrics
ProShares UltraPro S&P 500 has an annualized alpha of 0.76%, beta of 2.97, and R2 of 1.00 versus S&P 500 Index. Calculated based on daily prices since June 25, 2009.
- This ETF captured 440.14% of S&P 500 Index gains and 220.96% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- Beta of 2.97 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- 0.76%
- Beta
- 2.97
- R²
- 1.00
- Upside Capture
- 440.14%
- Downside Capture
- 220.96%
Expense Ratio
UPRO has an expense ratio of 0.89%, placing it in the medium range.
Return for Risk
Risk / Return Rank
UPRO ranks 56 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares UltraPro S&P 500 (UPRO) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UPRO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.34 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 2.53 | -0.10 |
| Martin ratioReturn relative to average drawdown | 10.01 | 11.37 | -1.36 |
Dividends
Dividend History
ProShares UltraPro S&P 500 provided a 0.72% dividend yield over the last twelve months, with an annual payout of $1.01 per share. The fund has been increasing its distributions for 5 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.01 | $0.97 | $0.82 | $0.40 | $0.17 | $0.04 | $0.04 | $0.14 | $0.11 | $0.00 | $0.02 | $0.04 |
Dividend yield | 0.72% | 0.84% | 0.93% | 0.74% | 0.52% | 0.06% | 0.11% | 0.41% | 0.63% | 0.00% | 0.12% | 0.34% |
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 | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.00 | $0.22 | ||||||
| 2025 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.34 | $0.97 |
| 2024 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.25 | $0.82 |
| 2023 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.12 | $0.40 |
| 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 | $0.17 |
| 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 | $0.04 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares UltraPro S&P 500. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ProShares UltraPro S&P 500 was 76.82%, occurring on Mar 23, 2020. Recovery took 202 trading sessions.
The current ProShares UltraPro S&P 500 drawdown is 7.60%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -76.82%Mar 2020 | 1mo 2d | 9mo 21d | 10mo 23dFeb 2020 - Jan 2021 |
Bear market2022 | -63.94%Oct 2022 | 9mo 11d | 1y 8mo | 2y 5moJan 2022 - Jun 2024 |
2011 bear market2011 | -51.73%Oct 2011 | 5mo 4d | 6mo 2d | 11mo 6dMay 2011 - Apr 2012 |
Rate-hike selloffLate 2018 | -50.28%Dec 2018 | 3mo 4d | 6mo 20d | 9mo 24dSep 2018 - Jul 2019 |
2025 selloff2025 | -48.87%Apr 2025 | 1mo 17d | 3mo 18d | 5mo 5dFeb 2025 - Jul 2025 |
Drawdown Indicators
| UPRO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.82% | -56.78% | -20.04% |
Max Drawdown (1Y)Largest decline over 1 year | -26.78% | -9.10% | -17.68% |
Max Drawdown (3Y)Largest decline over 3 years | -48.87% | -18.90% | -29.97% |
Max Drawdown (5Y)Largest decline over 5 years | -63.94% | -25.43% | -38.51% |
Max Drawdown (10Y)Largest decline over 10 years | -76.82% | -33.92% | -42.90% |
Current DrawdownCurrent decline from peak | -7.60% | -2.34% | -5.26% |
Average DrawdownAverage peak-to-trough decline | -14.40% | -10.72% | -3.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.50% | 2.02% | +4.48% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with UPRO
Add ProShares UltraPro S&P 500 to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with UPRO