CMGG vs. UPV
CMGG (Leverage Shares 2X Long CMG Daily ETF) and UPV (ProShares Ultra Europe) are both Leveraged Equities funds. CMGG is actively managed, while UPV is passively managed. At a 0.38 correlation, their price movements are largely independent. CMGG charges 0.75%/yr vs 0.95%/yr for UPV.
Performance
CMGG vs. UPV - Performance Comparison
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Returns By Period
In the year-to-date period, CMGG achieves a -39.24% return, which is significantly lower than UPV's 10.42% return.
CMGG
- 1D
- -11.56%
- 1M
- -15.34%
- YTD
- -39.24%
- 6M
- -42.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UPV
- 1D
- 0.02%
- 1M
- 1.70%
- YTD
- 10.42%
- 6M
- 11.40%
- 1Y
- 36.17%
- 3Y*
- 25.72%
- 5Y*
- 9.15%
- 10Y*
- 12.77%
CMGG vs. UPV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CMGG Leverage Shares 2X Long CMG Daily ETF | -39.24% | 36.20% |
UPV ProShares Ultra Europe | 10.42% | 7.67% |
Correlation
The correlation between CMGG and UPV is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 17, 2025 | 0.38 |
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Return for Risk
CMGG vs. UPV — Risk / Return Rank
CMGG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UPV
CMGG vs. UPV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long CMG Daily ETF (CMGG) and ProShares Ultra Europe (UPV). 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.
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.
| CMGG | UPV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.21 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.55 | — |
| Martin ratioReturn relative to average drawdown | — | 5.22 | — |
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Drawdowns
CMGG vs. UPV - Drawdown Comparison
The maximum CMGG drawdown since its inception was -56.75%, smaller than the maximum UPV drawdown of -67.25%. Use the drawdown chart below to compare losses from any high point for CMGG and UPV.
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Drawdown Indicators
| CMGG | UPV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.75% | -67.25% | +10.50% |
Max Drawdown (1Y)Largest decline over 1 year | — | -23.41% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.54% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -58.33% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -67.25% | — |
Current DrawdownCurrent decline from peak | -49.61% | -4.76% | -44.85% |
Average DrawdownAverage peak-to-trough decline | -23.20% | -20.78% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.95% | — |
Volatility
CMGG vs. UPV - Volatility Comparison
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Volatility by Period
| CMGG | UPV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.63% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 26.70% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 69.07% | 31.51% | +37.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.07% | 35.51% | +33.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.07% | 36.96% | +32.11% |
CMGG vs. UPV - Expense Ratio Comparison
CMGG has a 0.75% expense ratio, which is lower than UPV's 0.95% expense ratio.
Dividends
CMGG vs. UPV - Dividend Comparison
CMGG has not paid dividends to shareholders, while UPV's dividend yield for the trailing twelve months is around 2.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CMGG Leverage Shares 2X Long CMG Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UPV ProShares Ultra Europe | 2.07% | 2.11% | 2.70% | 1.57% | 0.00% | 0.00% | 0.00% | 0.65% | 3.80% |
Frequently Asked Questions
CMGG and UPV have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMGG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMGG is cheaper with a 0.75% expense ratio, compared with 0.95% for UPV.
UPV has the higher dividend yield at 2.07%, compared with 0.00% for CMGG.
They also come from different issuers: Leverage Shares and ProShares. Their fees differ too: 0.75% for CMGG and 0.95% for UPV.
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