ProShares UltraPro S&P 500 (UPRO) belongs to the Leveraged Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with UPRO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to UPRO
UPRO charges 0.89% annually. There are 88 ETFs in the Leveraged Equities category with lower expense ratios, going as low as 0.35%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| WisdomTree Efficient U.S. Plus International Equit... | 0.35% | 34.68M | Mar 2026 | UPRO vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 48.99M | Sep 2021 | UPRO vs IFED | |
| Direxion Daily S&P 500 Bull 2X ETF | 0.60% | 239.79M | May 2014 | UPRO vs SPUU | |
| Leverage Shares 2x Long NEM Daily ETF | 0.75% | 1.35M | Nov 2025 | UPRO vs NEMG | |
| Leverage Shares 2X Long CRM Daily ETF | 0.75% | 26.42M | Apr 2025 | UPRO vs CRMG |
Best Risk-Adjusted Alternatives to UPRO
UPRO has a PortfoliosLab risk / return rank of 49. There are 50 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| GraniteShares 2x Long MU Daily ETF | 98 | 1.47B | Nov 2024 | UPRO vs MULL | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.60M | Apr 2021 | UPRO vs XTAP | |
| GraniteShares 2x Long INTC Daily ETF | 98 | 785.62M | Feb 2025 | UPRO vs INTW | |
| Innovator Growth Accelerated Plus ETF - April | 97 | 19.18M | Apr 2021 | UPRO vs QTAP | |
| Direxion Daily Semiconductor Bull 3X ETF | 96 | 28.01B | Mar 2010 | UPRO vs SOXL |
Top Performing UPRO Alternatives (YTD)
UPRO is at 17.21% YTD. There are 96 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 780.13%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| GraniteShares 2x Long MU Daily ETF | 780.13% | 1.47B | Nov 2024 | UPRO vs MULL | |
| GraniteShares 2x Long DELL Daily ETF | 762.51% | 169.15M | Feb 2025 | UPRO vs DLLL | |
| GraniteShares 2x Long INTC Daily ETF | 750.22% | 785.62M | Feb 2025 | UPRO vs INTW | |
| Direxion Daily INTC Bull 2X Shares | 744.89% | 104.27M | Nov 2025 | UPRO vs LINT | |
| Leverage Shares 2X Long BE Daily ETF | 658.88% | 36.14M | Dec 2025 | UPRO vs BEG |
Lowest Volatility Alternatives to UPRO
UPRO has 37.35% 1-year volatility. There are 68 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.83%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.83% | 22.60M | Apr 2021 | UPRO vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 6.12% | 19.18M | Apr 2021 | UPRO vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.35% | 13.35M | Jul 2021 | UPRO vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | 9.88% | 22.17M | Jul 2021 | UPRO vs QTJL | |
| Innovator US Equity Accelerated ETF | 10.50% | 68.78M | Apr 2021 | UPRO vs XDSQ |
Lowest Drawdown Alternatives to UPRO
UPRO has a 1-year max drawdown of -26.78%. There are 50 ETFs in the Leveraged Equities category with shallower 1-year drawdowns, going as shallow as -1.72%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | -1.72% | 22.60M | Apr 2021 | UPRO vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -2.49% | 19.18M | Apr 2021 | UPRO vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.35M | Jul 2021 | UPRO vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -6.68% | 22.17M | Jul 2021 | UPRO vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 68.78M | Apr 2021 | UPRO vs XDSQ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, BITO, QLD and span 11 categories. AUM among these funds goes as high as $40B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 53 | 41.43% | 39.74B | Feb 2010 | UPRO vs TQQQ | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -29.93% | 1.42B | Oct 2021 | UPRO vs BITO | |
| ProShares Ultra QQQ | Leveraged Equities | 53 | 29.58% | 14.59B | Jun 2006 | UPRO vs QLD | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 50 | 12.95% | 8.02B | Jun 2006 | UPRO vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 29 | 6.48% | 11.27B | Oct 2013 | UPRO vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 82 | 84.65% | 3.28B | Jan 2007 | UPRO vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 1 | -40.31% | 1.83B | Feb 2010 | UPRO vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -22.07% | 265.17M | Oct 2011 | UPRO vs UVXY | |
| Proshares Ultra Bitcoin ETF | Cryptocurrency, Leveraged Cryptocurrency | 2 | -58.07% | 340.85M | Apr 2024 | UPRO vs BITU | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 56 | 13.69% | 426.74M | Mar 2024 | UPRO vs IQQQ |
Often Compared With UPRO
Investors most often compare UPRO with SPY, SPXL, VOO. These 17 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare UPRO with Any Fund or Stock
Compare UPRO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair UPRO with funds that move differently
ProShares UltraPro S&P 500 alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to UPRO.
Explore UPRO Diversifiers