- ISIN
- US74347R8429
- CUSIP
- 74347R842
- Issuer
- ProShares
- Inception Date
- Jan 25, 2007
- Region
- North America (U.S.)
- Category
- Leveraged Equities
- Leveraged
- 2x
- Index Tracked
- Russell 2000 Index (200%)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Micro-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $275M
Share Price Chart
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Performance
UWM Performance Chart
ProShares Ultra Russell2000 (UWM) is up 41.4% since the beginning of the year. UWM is currently trading at $66 per share. Investors who bought $1,000 worth of UWM shares 5 years ago would now be looking at an investment worth $1,152.
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Returns By Period
ProShares Ultra Russell2000 (UWM) has returned 41.43% so far this year and 88.85% over the past 12 months. Over the last ten years, UWM has had an annualized return of 13.66%, just under the S&P 500 Index benchmark’s 13.88%.
ProShares Ultra Russell2000
- 1D
- 1.84%
- 1M
- 8.96%
- YTD
- 41.43%
- 6M
- 32.94%
- 1Y
- 88.85%
- 3Y*
- 28.76%
- 5Y*
- 2.87%
- 10Y*
- 13.66%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
UWM Monthly Returns History
Based on dividend-adjusted daily data since Jan 25, 2007, UWM's average daily return is +0.08%, while the average monthly return is +1.33%. At this rate, an investment would double in approximately 4.4 years.
Historically, 61% of months were positive and 39% were negative. The best month was Nov 2020 with a return of +38.9%, while the worst month was Mar 2020 at -45.2%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, UWM closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +21.2%, while the worst single day was Mar 16, 2020 at -26.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 10.44% | 0.73% | -10.65% | 24.90% | 8.27% | 5.21% | 41.43% | ||||||
| 2025 | 4.44% | -10.91% | -13.93% | -7.30% | 10.06% | 10.46% | 2.68% | 14.01% | 5.57% | 2.78% | 0.94% | -1.86% | 13.59% |
| 2024 | -8.52% | 10.34% | 6.47% | -14.18% | 9.59% | -2.75% | 20.55% | -4.68% | 0.66% | -3.54% | 22.27% | -16.98% | 11.32% |
| 2023 | 19.56% | -4.32% | -10.67% | -4.18% | -2.66% | 15.90% | 11.98% | -10.67% | -12.10% | -13.83% | 17.54% | 24.64% | 22.62% |
| 2022 | -19.00% | 1.69% | 1.53% | -19.34% | -1.07% | -16.63% | 20.98% | -4.82% | -19.15% | 22.01% | 3.05% | -13.54% | -43.69% |
| 2021 | 9.43% | 12.13% | 1.67% | 3.40% | 0.06% | 3.49% | -7.65% | 4.11% | -6.07% | 8.53% | -8.85% | 3.83% | 23.91% |
Benchmark Metrics
ProShares Ultra Russell2000 has an annualized alpha of -3.79%, beta of 2.25, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since January 25, 2007.
- This ETF captured 253.28% of S&P 500 Index gains and 188.70% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This ETF had an annualized alpha of -3.79% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of 2.25 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- -3.79%
- Beta
- 2.25
- R²
- 0.80
- Upside Capture
- 253.28%
- Downside Capture
- 188.70%
Expense Ratio
UWM has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
UWM ranks 70 for risk / return — better than 70% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares Ultra Russell2000 (UWM) 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.
| UWM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 2.78 | +1.22 |
| Martin ratioReturn relative to average drawdown | 13.68 | 12.44 | +1.24 |
Dividends
Dividend History
ProShares Ultra Russell2000 provided a 0.73% dividend yield over the last twelve months, with an annual payout of $0.48 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.48 | $0.49 | $0.49 | $0.13 | $0.13 | $0.00 | $0.03 | $0.21 | $0.11 | $0.04 | $0.08 | $0.05 |
Dividend yield | 0.73% | 1.05% | 1.16% | 0.34% | 0.40% | 0.00% | 0.07% | 0.55% | 0.41% | 0.11% | 0.27% | 0.23% |
Monthly Dividends
The table displays the monthly dividend distributions for ProShares Ultra Russell2000. 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 | $0.00 | $0.00 | $0.00 | $0.07 | ||||||
| 2025 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.20 | $0.49 |
| 2024 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.18 | $0.49 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.11 | $0.13 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.13 | $0.13 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
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 Russell2000. 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 Russell2000 was 88.21%, occurring on Mar 9, 2009. Recovery took 1167 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -88.21%Mar 2009 | 1y 9mo | 4y 7mo | 6y 4moJun 2007 - Oct 2013 |
COVID crash2020 | -71.46%Mar 2020 | 1y 6mo | 8mo 27d | 2y 3moSep 2018 - Dec 2020 |
2023 bear market2023 | -61.62%Oct 2023 | 1y 11mo | 2y 7mo | 4y 7moNov 2021 - Jun 2026 |
2016 bear market2016 | -46.62%Feb 2016 | 7mo 22d | 9mo 11d | 1y 4moJun 2015 - Nov 2016 |
2014 bear market2014 | -24.56%Oct 2014 | 7mo 12d | 2mo 14d | 9mo 26dMar 2014 - Dec 2014 |
Drawdown Indicators
| UWM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.21% | -56.78% | -31.43% |
Max Drawdown (1Y)Largest decline over 1 year | -22.28% | -9.10% | -13.18% |
Max Drawdown (3Y)Largest decline over 3 years | -49.79% | -18.90% | -30.89% |
Max Drawdown (5Y)Largest decline over 5 years | -61.62% | -25.43% | -36.19% |
Max Drawdown (10Y)Largest decline over 10 years | -71.46% | -33.92% | -37.54% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -30.81% | -10.71% | -20.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.52% | 2.03% | +4.49% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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