BAMI.MI vs. UPRO

Last updated Jun 4, 2026

BAMI.MI (Banco Bpm SpA) is a stock, while UPRO (ProShares UltraPro S&P 500) is Leveraged Equities fund tracking the S&P 500. Over the past 10 years, BAMI.MI returned 22.45%/yr vs 29.82%/yr for UPRO. At a 0.30 correlation, their price movements are largely independent.

Performance

BAMI.MI vs. UPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Banco Bpm SpA (BAMI.MI) and ProShares UltraPro S&P 500 (UPRO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BAMI.MI is traded in EUR, while UPRO is traded in USD. To make them comparable, the UPRO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, BAMI.MI achieves a 6.09% return, which is significantly lower than UPRO's 29.43% return. Over the past 10 years, BAMI.MI has underperformed UPRO with an annualized return of 22.45%, while UPRO has yielded a comparatively higher 29.82% annualized return.

BAMI.MI

• 1D: -0.97%
• 1M: 9.18%
• YTD: 6.09%
• 6M: 13.22%
• 1Y: 41.02%
• 3Y*: 66.42%
• 5Y*: 46.14%
• 10Y*: 22.45%

UPRO

• 1D: -1.88%
• 1M: 15.46%
• YTD: 29.43%
• 6M: 27.37%
• 1Y: 77.24%
• 3Y*: 48.54%
• 5Y*: 24.29%
• 10Y*: 29.82%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BAMI.MI vs. UPRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BAMI.MI Banco Bpm SpA	6.09%	83.83%	89.87%	51.64%	34.65%	49.80%	-3.93%	3.05%	-24.89%	14.31%
UPRO ProShares UltraPro S&P 500	29.43%	16.23%	74.36%	63.48%	-54.17%	113.50%	1.01%	106.87%	-21.60%	50.31%

Correlation

The correlation between BAMI.MI and UPRO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jun 26, 2009	0.30

The correlation between BAMI.MI and UPRO shifts across timeframes, from 0.17 (3 years) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BAMI.MI vs. UPRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAMI.MI

BAMI.MI Risk / Return Rank: 79
BAMI.MI Sharpe Ratio Rank: 82
BAMI.MI Sortino Ratio Rank: 77
BAMI.MI Omega Ratio Rank: 73
BAMI.MI Calmar Ratio Rank: 80
BAMI.MI Martin Ratio Rank: 83

UPRO

UPRO Risk / Return Rank: 62
UPRO Sharpe Ratio Rank: 68
UPRO Sortino Ratio Rank: 57
UPRO Omega Ratio Rank: 58
UPRO Calmar Ratio Rank: 60
UPRO Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BAMI.MI vs. UPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Banco Bpm SpA (BAMI.MI) and ProShares UltraPro S&P 500 (UPRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BAMI.MI	UPRO	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.24	-0.73
Sortino ratio: Return per unit of downside risk	2.13	2.65	-0.52
Omega ratio: Gain probability vs. loss probability	1.25	1.36	-0.11
Calmar ratio: Return relative to maximum drawdown	2.78	3.05	-0.27
Martin ratio: Return relative to average drawdown	8.18	12.35	-4.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAMI.MI vs. UPRO - Sharpe Ratio Comparison

The current BAMI.MI Sharpe Ratio is 1.51, which is lower than the UPRO Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of BAMI.MI and UPRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BAMI.MI	UPRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	2.24	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.36	0.50	+0.86
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.56	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.70	-0.74

Drawdowns

BAMI.MI vs. UPRO - Drawdown Comparison

The maximum BAMI.MI drawdown since its inception was -98.73%, which is greater than UPRO's maximum drawdown of -76.64%. Use the drawdown chart below to compare losses from any high point for BAMI.MI and UPRO.

Drawdown Indicators

	BAMI.MI	UPRO	Difference
Max Drawdown Largest peak-to-trough decline	-98.73%	-76.64%	-22.09%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-25.49%	+10.71%
Max Drawdown (3Y) Largest decline over 3 years	-21.95%	-51.35%	+29.40%
Max Drawdown (5Y) Largest decline over 5 years	-36.17%	-58.04%	+21.87%
Max Drawdown (10Y) Largest decline over 10 years	-68.57%	-76.64%	+8.07%
Current Drawdown Current decline from peak	-74.62%	-1.88%	-72.74%
Average Drawdown Average peak-to-trough decline	-63.01%	-14.04%	-48.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.01%	6.27%	-1.26%

Volatility

BAMI.MI vs. UPRO - Volatility Comparison

The current volatility for Banco Bpm SpA (BAMI.MI) is 6.12%, while ProShares UltraPro S&P 500 (UPRO) has a volatility of 7.77%. This indicates that BAMI.MI experiences smaller price fluctuations and is considered to be less risky than UPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BAMI.MI	UPRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	7.77%	-1.65%
Volatility (6M) Calculated over the trailing 6-month period	19.82%	25.57%	-5.75%
Volatility (1Y) Calculated over the trailing 1-year period	27.08%	34.67%	-7.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.73%	48.99%	-15.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.29%	53.25%	-11.96%

Dividends

BAMI.MI vs. UPRO - Dividend Comparison

BAMI.MI's dividend yield for the trailing twelve months is around 7.54%, more than UPRO's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAMI.MI Banco Bpm SpA	7.54%	8.14%	12.29%	4.81%	5.70%	2.27%	4.42%	0.00%	0.00%	0.00%	4.86%	0.00%
UPRO ProShares UltraPro S&P 500	0.68%	0.84%	0.93%	0.74%	0.52%	0.06%	0.11%	0.41%	0.63%	0.00%	0.12%	0.34%

Frequently Asked Questions

Can I hold both BAMI.MI and UPRO in my portfolio?

BAMI.MI and UPRO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.