ProShares Ultra Utilities (UPW) 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 UPW. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to UPW
UPW charges 0.95% annually. There are 91 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% | 28.74M | Mar 2026 | UPW vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 48.98M | Sep 2021 | UPW vs IFED | |
| Direxion Daily S&P 500 Bull 2x Shares | 0.64% | 241.41M | May 2014 | UPW vs SPUU | |
| Leverage Shares 2X Long AMD Daily ETF | 0.75% | 33.68M | Jan 2025 | UPW vs AMDG | |
| Leverage Shares 2X Long NVDA Daily ETF | 0.75% | — | Dec 2024 | UPW vs NVDG |
Best Risk-Adjusted Alternatives to UPW
UPW has a PortfoliosLab risk / return rank of 14. There are 127 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | 99 | 3.44B | Oct 2024 | UPW vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 99 | 1.11B | Nov 2024 | UPW vs MULL | |
| Innovator Growth Accelerated Plus ETF - April | 98 | 19.26M | Apr 2021 | UPW vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.62M | Apr 2021 | UPW vs XTAP | |
| Direxion Daily South Korea Bull 3X Shares | 97 | 1.73B | Apr 2013 | UPW vs KORU |
Top Performing UPW Alternatives (YTD)
UPW is at 2.44% YTD. There are 185 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 961.23%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | 961.23% | 3.44B | Oct 2024 | UPW vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 936.86% | 1.11B | Nov 2024 | UPW vs MULL | |
| Leverage Shares 2X Long ARM Daily ETF | 936.32% | 75.08M | Jan 2025 | UPW vs ARMG | |
| GraniteShares 2x Long DELL Daily ETF | 816.87% | 101.08M | Feb 2025 | UPW vs DLLL | |
| GraniteShares 2x Long MRVL Daily ETF | 779.83% | 568.50M | Mar 2025 | UPW vs MVLL |
Lowest Volatility Alternatives to UPW
UPW has 29.05% 1-year volatility. There are 36 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.70%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.70% | 22.62M | Apr 2021 | UPW vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 5.56% | 19.26M | Apr 2021 | UPW vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.43% | 13.32M | Jul 2021 | UPW vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | 10.02% | 22.12M | Jul 2021 | UPW vs QTJL | |
| Innovator US Equity Accelerated ETF | 10.56% | 68.42M | Apr 2021 | UPW vs XDSQ |
Lowest Drawdown Alternatives to UPW
UPW has a 1-year max drawdown of -19.15%. There are 24 ETFs in the Leveraged Equities category with shallower 1-year drawdowns, going as shallow as -1.42%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | -1.42% | 22.62M | Apr 2021 | UPW vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -1.69% | 19.26M | Apr 2021 | UPW vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.32M | Jul 2021 | UPW vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -6.68% | 22.12M | Jul 2021 | UPW vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 68.42M | Apr 2021 | UPW vs XDSQ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, BITO, QLD and span 7 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 | 71 | 64.46% | 39.77B | Feb 2010 | UPW vs TQQQ | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -26.37% | 1.70B | Oct 2021 | UPW vs BITO | |
| ProShares Ultra QQQ | Leveraged Equities | 69 | 42.06% | 14.46B | Jun 2006 | UPW vs QLD | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 62 | 27.90% | 5.55B | Jun 2009 | UPW vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 62 | 19.37% | 8.38B | Jun 2006 | UPW vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | S&P 500, Dividend | 22 | 3.51% | 11.07B | Oct 2013 | UPW vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 90 | 114.00% | 3.05B | Jan 2007 | UPW vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities | 0 | -45.27% | 2.23B | Feb 2010 | UPW vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -19.06% | 398.99M | Oct 2011 | UPW vs UVXY | |
| Proshares Ultra Bitcoin ETF | Cryptocurrency, Leveraged Cryptocurrency | 2 | -52.92% | 446.55M | Apr 2024 | UPW vs BITU |
Often Compared With UPW
Investors most often compare UPW with UTSL, SDP, XLU. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare UPW with Any Fund or Stock
Compare UPW with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair UPW with funds that move differently
ProShares Ultra Utilities alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to UPW.
Explore UPW Diversifiers