EQUEY vs. UPRO

Last updated Jun 23, 2026

EQUEY (Equatorial Energia SA ADR) is a stock, while UPRO (ProShares UltraPro S&P 500) is Leveraged Equities fund tracking the S&P 500. Over the past 10 years, EQUEY returned 12.38%/yr vs 30.75%/yr for UPRO. At a 0.08 correlation, their price movements are largely independent.

Performance

EQUEY vs. UPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Equatorial Energia SA ADR (EQUEY) and ProShares UltraPro S&P 500 (UPRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQUEY achieves a 3.95% return, which is significantly lower than UPRO's 22.44% return. Over the past 10 years, EQUEY has underperformed UPRO with an annualized return of 12.38%, while UPRO has yielded a comparatively higher 30.75% annualized return.

EQUEY

• 1D: -2.04%
• 1M: -2.69%
• YTD: 3.95%
• 6M: 7.83%
• 1Y: 13.74%
• 3Y*: 9.43%
• 5Y*: 9.84%
• 10Y*: 12.38%

UPRO

• 1D: -0.97%
• 1M: -1.16%
• YTD: 22.44%
• 6M: 20.56%
• 1Y: 74.57%
• 3Y*: 48.38%
• 5Y*: 21.85%
• 10Y*: 30.75%

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

EQUEY vs. UPRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQUEY Equatorial Energia SA ADR	3.95%	85.47%	-43.28%	43.37%	31.85%	-9.33%	-17.00%	45.26%	-6.01%	28.12%
UPRO ProShares UltraPro S&P 500	22.44%	31.88%	63.57%	68.53%	-56.84%	98.64%	10.09%	102.30%	-25.11%	71.37%

Correlation

The correlation between EQUEY and UPRO is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009	0.08

Return for Risk

EQUEY vs. UPRO — Risk / Return Rank

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

EQUEY

EQUEY Risk / Return Rank: 55
EQUEY Sharpe Ratio Rank: 53
EQUEY Sortino Ratio Rank: 49
EQUEY Omega Ratio Rank: 58
EQUEY Calmar Ratio Rank: 56
EQUEY Martin Ratio Rank: 57

UPRO

UPRO Risk / Return Rank: 59
UPRO Sharpe Ratio Rank: 63
UPRO Sortino Ratio Rank: 53
UPRO Omega Ratio Rank: 55
UPRO Calmar Ratio Rank: 58
UPRO Martin Ratio Rank: 65

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.

EQUEY vs. UPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Equatorial Energia SA ADR (EQUEY) 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.

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.

	EQUEY	UPRO	Difference
Sharpe ratio: Return per unit of total volatility	0.31	2.02	-1.71
Sortino ratio: Return per unit of downside risk	0.75	2.47	-1.72
Omega ratio: Gain probability vs. loss probability	1.14	1.33	-0.19
Calmar ratio: Return relative to maximum drawdown	0.58	2.80	-2.22
Martin ratio: Return relative to average drawdown	1.44	11.45	-10.01

EQUEY vs. UPRO - Sharpe Ratio Comparison

The current EQUEY Sharpe Ratio is 0.31, which is lower than the UPRO Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of EQUEY 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.

Drawdowns

EQUEY vs. UPRO - Drawdown Comparison

The maximum EQUEY drawdown since its inception was -69.01%, smaller than the maximum UPRO drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for EQUEY and UPRO.

Drawdown Indicators

	EQUEY	UPRO	Difference
Max Drawdown Largest peak-to-trough decline	-69.01%	-76.82%	+7.81%
Max Drawdown (1Y) Largest decline over 1 year	-23.80%	-26.78%	+2.98%
Max Drawdown (3Y) Largest decline over 3 years	-43.61%	-48.87%	+5.26%
Max Drawdown (5Y) Largest decline over 5 years	-43.61%	-63.94%	+20.33%
Max Drawdown (10Y) Largest decline over 10 years	-69.01%	-76.82%	+7.81%
Current Drawdown Current decline from peak	-23.80%	-6.26%	-17.54%
Average Drawdown Average peak-to-trough decline	-22.81%	-14.39%	-8.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.58%	6.53%	+3.05%

Volatility

EQUEY vs. UPRO - Volatility Comparison

The current volatility for Equatorial Energia SA ADR (EQUEY) is 7.57%, while ProShares UltraPro S&P 500 (UPRO) has a volatility of 14.03%. This indicates that EQUEY 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

	EQUEY	UPRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.57%	14.03%	-6.46%
Volatility (6M) Calculated over the trailing 6-month period	25.25%	29.21%	-3.96%
Volatility (1Y) Calculated over the trailing 1-year period	44.56%	37.15%	+7.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.05%	50.59%	-4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.09%	53.89%	+20.20%

Dividends

EQUEY vs. UPRO - Dividend Comparison

EQUEY's dividend yield for the trailing twelve months is around 3.70%, more than UPRO's 0.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQUEY Equatorial Energia SA ADR	3.70%	5.81%	3.09%	1.11%	2.33%	3.16%	2.41%	0.80%	1.86%	1.30%	1.35%	1.16%
UPRO ProShares UltraPro S&P 500	0.71%	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 EQUEY and UPRO in my portfolio?

EQUEY and UPRO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQUEY or UPRO?

UPRO has higher volatility (14.03%) compared to EQUEY (7.57%). In terms of maximum drawdown, EQUEY dropped -69.01% vs UPRO's -76.82%.

Which has better risk-adjusted returns?

UPRO currently has the higher Sharpe Ratio (2.02 vs 0.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.