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 97 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% | 43.18M | Mar 2026 | UWM vs NTSD | |
| Corgi BRKB 2x Daily ETF | 0.45% | — | Jul 2026 | UWM vs BRKL | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 48.07M | Sep 2021 | UWM vs IFED | |
| Direxion Daily S&P 500 Bull 2X ETF | 0.60% | 260.25M | May 2014 | UWM vs SPUU | |
| Leverage Shares 2X Long CBRS Daily ETF | 0.75% | 52.20M | May 2026 | UWM vs CBRG |
Best Risk-Adjusted Alternatives to UWM
UWM has a PortfoliosLab risk / return rank of 81. There are 27 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily MU Bull 2X Shares | 98 | 3.86B | Oct 2024 | UWM vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 98 | 531.06M | Nov 2024 | UWM vs MULL | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.69M | Apr 2021 | UWM vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 97 | 20.37M | Apr 2021 | UWM vs QTAP | |
| GraniteShares 2x Long INTC Daily ETF | 97 | 282.58M | Feb 2025 | UWM vs INTW |
Top Performing UWM Alternatives (YTD)
UWM is at 38.52% YTD. There are 69 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 699.96%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| GraniteShares 2x Long DELL Daily ETF | 699.96% | 101.24M | Feb 2025 | UWM vs DLLL | |
| Direxion Daily MU Bull 2X Shares | 378.90% | 3.86B | Oct 2024 | UWM vs MUU | |
| GraniteShares 2x Long MU Daily ETF | 365.77% | 531.06M | Nov 2024 | UWM vs MULL | |
| Direxion Daily INTC Bull 2X Shares | 266.23% | 63.06M | Nov 2025 | UWM vs LINT | |
| GraniteShares 2x Long INTC Daily ETF | 265.05% | 282.58M | Feb 2025 | UWM vs INTW |
Lowest Volatility Alternatives to UWM
UWM has 38.36% 1-year volatility. There are 65 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.89%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.89% | 22.69M | Apr 2021 | UWM vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 6.61% | 20.37M | Apr 2021 | UWM vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.75% | 13.42M | Jul 2021 | UWM vs XTJL | |
| Innovator US Equity Accelerated ETF | 10.94% | 69.34M | Apr 2021 | UWM vs XDSQ | |
| Innovator Growth Accelerated Plus ETF - July | 11.73% | 19.11M | Jul 2021 | UWM vs QTJL |
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 -1.72%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | -1.72% | 22.69M | Apr 2021 | UWM vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -2.81% | 20.37M | Apr 2021 | UWM vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.42M | Jul 2021 | UWM vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -8.48% | 19.11M | Jul 2021 | UWM vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 69.34M | Apr 2021 | UWM vs XDSQ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, QLD, BITO and span 10 categories. AUM among these funds goes as high as $33B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 45 | 29.42% | 32.83B | Feb 2010 | UWM vs TQQQ | |
| ProShares Ultra QQQ | Leveraged Equities | 48 | 23.13% | 12.76B | Jun 2006 | UWM vs QLD | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -28.40% | 1.41B | Oct 2021 | UWM vs BITO | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 65 | 26.96% | 5.15B | Jun 2009 | UWM vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 67 | 19.52% | 7.81B | Jun 2006 | UWM vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 51 | 11.50% | 11.68B | Oct 2013 | UWM vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 58 | 55.27% | 2.47B | Jan 2007 | UWM vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 1 | -38.05% | 2.00B | Feb 2010 | UWM vs SQQQ | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 52 | 11.89% | 394.37M | Mar 2024 | UWM vs IQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -36.18% | 244.68M | Oct 2011 | UWM vs UVXY |
Often Compared With UWM
Investors most often compare UWM with IWM, TNA, URTY. These 20 comparison targets span 12 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