ProShares Ultra Russell2000 (UWM) 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 UWM. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to UWM
UWM charges 0.95% annually. There are 93 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 | UWM vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 48.98M | Sep 2021 | UWM vs IFED | |
| Direxion Daily S&P 500 Bull 2x Shares | 0.64% | 241.41M | May 2014 | UWM vs SPUU | |
| Leverage Shares 2X Long COIN Daily ETF | 0.75% | 7.81M | Mar 2025 | UWM vs COIG | |
| Leverage Shares 2X Long COST Daily ETF | 0.75% | 5.48M | Sep 2025 | UWM vs COTG |
Best Risk-Adjusted Alternatives to UWM
UWM has a PortfoliosLab risk / return rank of 59. There are 48 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 | UWM vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 99 | 1.11B | Nov 2024 | UWM vs MULL | |
| Innovator Growth Accelerated Plus ETF - April | 98 | 19.26M | Apr 2021 | UWM vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.62M | Apr 2021 | UWM vs XTAP | |
| Direxion Daily South Korea Bull 3X Shares | 97 | 1.73B | Apr 2013 | UWM vs KORU |
Top Performing UWM Alternatives (YTD)
UWM is at 31.87% YTD. There are 93 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 | UWM vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 936.86% | 1.11B | Nov 2024 | UWM vs MULL | |
| Leverage Shares 2X Long ARM Daily ETF | 936.32% | 75.08M | Jan 2025 | UWM vs ARMG | |
| GraniteShares 2x Long MRVL Daily ETF | 842.68% | 568.50M | Mar 2025 | UWM vs MVLL | |
| GraniteShares 2x Long DELL Daily ETF | 757.76% | 101.08M | Feb 2025 | UWM vs DLLL |
Lowest Volatility Alternatives to UWM
UWM has 38.04% 1-year volatility. There are 74 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 | UWM vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 5.56% | 19.26M | Apr 2021 | UWM vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.43% | 13.32M | Jul 2021 | UWM vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | 10.01% | 22.12M | Jul 2021 | UWM vs QTJL | |
| Innovator US Equity Accelerated ETF | 10.56% | 68.42M | Apr 2021 | UWM vs XDSQ |
Lowest Drawdown Alternatives to UWM
UWM has a 1-year max drawdown of -22.28%. There are 32 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 | UWM vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -1.69% | 19.26M | Apr 2021 | UWM vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.32M | Jul 2021 | UWM vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -6.68% | 22.12M | Jul 2021 | UWM vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 68.42M | Apr 2021 | UWM vs XDSQ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, BITO, QLD and span 8 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 | UWM vs TQQQ | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -26.37% | 1.70B | Oct 2021 | UWM vs BITO | |
| ProShares Ultra QQQ | Leveraged Equities | 69 | 42.06% | 14.46B | Jun 2006 | UWM vs QLD | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 62 | 27.90% | 5.55B | Jun 2009 | UWM vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 62 | 19.37% | 8.38B | Jun 2006 | UWM vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 22 | 3.51% | 11.07B | Oct 2013 | UWM vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 90 | 114.00% | 3.05B | Jan 2007 | UWM vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities | 0 | -45.27% | 2.23B | Feb 2010 | UWM vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -19.06% | 398.99M | Oct 2011 | UWM vs UVXY | |
| Proshares Ultra Bitcoin ETF | Cryptocurrency, Leveraged Cryptocurrency | 2 | -52.92% | 446.55M | Apr 2024 | UWM vs BITU |
Often Compared With UWM
Investors most often compare UWM with IWM, TNA, URTY. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare UWM with Any Fund or Stock
Compare UWM with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair UWM with funds that move differently
ProShares Ultra Russell2000 alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to UWM.
Explore UWM Diversifiers