ProShares Ultra Europe (UPV) 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 UPV. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to UPV
UPV charges 0.95% annually. There are 92 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 | UPV vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 48.99M | Sep 2021 | UPV vs IFED | |
| Direxion Daily S&P 500 Bull 2X ETF | 0.60% | 239.79M | May 2014 | UPV vs SPUU | |
| Leverage Shares 2X Long TSM Daily ETF | 0.75% | 33.08M | Jan 2025 | UPV vs TSMG | |
| Leverage Shares 2X Long NVDA Daily ETF | 0.75% | — | Dec 2024 | UPV vs NVDG |
Best Risk-Adjusted Alternatives to UPV
UPV has a PortfoliosLab risk / return rank of 33. There are 74 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 | UPV vs MULL | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.60M | Apr 2021 | UPV vs XTAP | |
| GraniteShares 2x Long INTC Daily ETF | 98 | 785.62M | Feb 2025 | UPV vs INTW | |
| Innovator Growth Accelerated Plus ETF - April | 97 | 19.18M | Apr 2021 | UPV vs QTAP | |
| Direxion Daily Semiconductor Bull 3X ETF | 97 | 28.01B | Mar 2010 | UPV vs SOXL |
Top Performing UPV Alternatives (YTD)
UPV is at 10.42% YTD. There are 140 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 1,096.58%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| GraniteShares 2x Long MU Daily ETF | 1,096.58% | 1.47B | Nov 2024 | UPV vs MULL | |
| GraniteShares 2x Long INTC Daily ETF | 871.59% | 785.62M | Feb 2025 | UPV vs INTW | |
| Direxion Daily INTC Bull 2X Shares | 869.59% | 104.27M | Nov 2025 | UPV vs LINT | |
| Leverage Shares 2X Long ARM Daily ETF | 837.72% | 229.25M | Jan 2025 | UPV vs ARMG | |
| Leverage Shares 2X Long BE Daily ETF | 778.97% | 36.14M | Dec 2025 | UPV vs BEG |
Lowest Volatility Alternatives to UPV
UPV has 31.51% 1-year volatility. There are 41 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.79%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.79% | 22.60M | Apr 2021 | UPV vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 6.01% | 19.18M | Apr 2021 | UPV vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.36% | 13.35M | Jul 2021 | UPV vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | 9.90% | 22.17M | Jul 2021 | UPV vs QTJL | |
| Innovator US Equity Accelerated ETF | 10.52% | 68.78M | Apr 2021 | UPV vs XDSQ |
Lowest Drawdown Alternatives to UPV
UPV has a 1-year max drawdown of -23.41%. There are 36 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 | UPV vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -2.49% | 19.18M | Apr 2021 | UPV vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.35M | Jul 2021 | UPV vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -6.68% | 22.17M | Jul 2021 | UPV vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 68.78M | Apr 2021 | UPV vs XDSQ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, BITO, QLD and span 10 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 | 68 | 56.90% | 39.74B | Feb 2010 | UPV vs TQQQ | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -27.53% | 1.42B | Oct 2021 | UPV vs BITO | |
| ProShares Ultra QQQ | Leveraged Equities | 67 | 38.76% | 14.59B | Jun 2006 | UPV vs QLD | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 59 | 22.44% | 5.36B | Jun 2009 | UPV vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 59 | 16.27% | 8.02B | Jun 2006 | UPV vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 31 | 5.77% | 11.27B | Oct 2013 | UPV vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 89 | 110.66% | 3.28B | Jan 2007 | UPV vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 0 | -45.65% | 1.83B | Feb 2010 | UPV vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -28.03% | 265.17M | Oct 2011 | UPV vs UVXY | |
| Proshares Ultra Bitcoin ETF | Cryptocurrency, Leveraged Cryptocurrency | 2 | -55.20% | 340.85M | Apr 2024 | UPV vs BITU |
Often Compared With UPV
Investors most often compare UPV with EPV, HEDJ, UDOW. These 20 comparison targets span 9 categories, based on PortfoliosLab usage data.
Compare UPV with Any Fund or Stock
Compare UPV with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair UPV with funds that move differently
ProShares Ultra Europe alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to UPV.
Explore UPV Diversifiers