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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in ProShares Ultra Utilities, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
ProShares Ultra Utilities (UPW) has returned 14.41% so far this year and 30.87% over the past 12 months. Over the last ten years, UPW has returned 11.18% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
ProShares Ultra Utilities
- 1D
- -0.37%
- 1M
- -7.21%
- YTD
- 14.41%
- 6M
- 9.25%
- 1Y
- 30.87%
- 3Y*
- 18.27%
- 5Y*
- 12.78%
- 10Y*
- 11.18%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Feb 1, 2007, UPW's average daily return is +0.07%, while the average monthly return is +1.19%. At this rate, your investment would double in approximately 4.9 years.
Historically, 63% of months were positive and 37% were negative. The best month was Mar 2021 with a return of +21.4%, while the worst month was Oct 2008 at -26.9%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 9 months.
On a daily basis, UPW closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +26.2%, while the worst single day was Mar 12, 2020 at -19.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.85% | 21.07% | -7.21% | 14.41% | |||||||||
| 2025 | 5.24% | 2.59% | 0.10% | -1.35% | 6.98% | 0.02% | 9.20% | -3.59% | 7.79% | 3.87% | 2.82% | -10.60% | 23.61% |
| 2024 | -6.55% | 1.31% | 12.56% | 2.52% | 17.35% | -11.32% | 13.36% | 9.01% | 12.74% | -2.62% | 6.43% | -16.13% | 37.67% |
| 2023 | -4.39% | -11.44% | 7.90% | 3.13% | -12.06% | 2.63% | 3.87% | -12.48% | -12.00% | 1.25% | 9.54% | 2.89% | -22.37% |
| 2022 | -6.40% | -4.07% | 20.51% | -9.01% | 8.72% | -11.02% | 11.29% | 0.17% | -21.95% | 3.80% | 13.12% | -1.94% | -4.59% |
| 2021 | -2.19% | -11.18% | 21.42% | 7.28% | -4.73% | -4.21% | 7.20% | 7.49% | -11.85% | 9.44% | -3.30% | 19.43% | 32.57% |
Benchmark Metrics
ProShares Ultra Utilities has an annualized alpha of 4.84%, beta of 1.23, and R² of 0.42 versus S&P 500 Index. Calculated based on daily prices since February 02, 2007.
- This ETF captured 116.62% of S&P 500 Index gains and 106.84% of its losses — amplifying both gains and losses, but participating more in upside than downside.
- R² of 0.42 means the benchmark explains less than half of this ETF's behavior — treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 4.84%
- Beta
- 1.23
- R²
- 0.42
- Upside Capture
- 116.62%
- Downside Capture
- 106.84%
Expense Ratio
UPW has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
UPW ranks 52 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 Ultra Utilities (UPW) and compare them to a chosen benchmark (S&P 500 Index).
| UPW | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.99 | 0.90 | +0.09 |
Sortino ratioReturn per unit of downside risk | 1.41 | 1.39 | +0.02 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.21 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.78 | 1.40 | +0.38 |
Martin ratioReturn relative to average drawdown | 4.17 | 6.61 | -2.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore UPW risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
ProShares Ultra Utilities provided a 1.40% dividend yield over the last twelve months, with an annual payout of $0.35 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 | $0.35 | $0.36 | $0.33 | $0.32 | $0.27 | $0.24 | $0.12 | $0.14 | $0.23 | $0.18 | $0.17 | $0.17 |
Dividend yield | 1.40% | 1.67% | 1.83% | 2.40% | 1.55% | 1.30% | 0.83% | 0.83% | 1.98% | 1.51% | 1.70% | 2.16% |
Monthly Dividends
The table displays the monthly dividend distributions for ProShares Ultra Utilities. 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 | $0.07 | $0.07 | |||||||||
| 2025 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.09 | $0.36 |
| 2024 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.13 | $0.33 |
| 2023 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.09 | $0.32 |
| 2022 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.11 | $0.27 |
| 2021 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.10 | $0.24 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares Ultra Utilities. 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 Ultra Utilities was 77.75%, occurring on Mar 9, 2009. Recovery took 1245 trading sessions.
The current ProShares Ultra Utilities drawdown is 7.21%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -77.75% | Dec 11, 2007 | 312 | Mar 9, 2009 | 1245 | Feb 18, 2014 | 1557 |
| -62.67% | Feb 19, 2020 | 24 | Mar 23, 2020 | 512 | Apr 1, 2022 | 536 |
| -49.42% | Sep 13, 2022 | 265 | Oct 2, 2023 | 250 | Sep 30, 2024 | 515 |
| -31.06% | Jan 30, 2015 | 152 | Sep 4, 2015 | 132 | Mar 16, 2016 | 284 |
| -29.26% | Apr 11, 2022 | 48 | Jun 17, 2022 | 39 | Aug 15, 2022 | 87 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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