FBGX vs. UYG

Last updated Jun 16, 2026

FBGX (UBS AG FI Enhanced Large Cap Growth ETN) and UYG (ProShares Ultra Financials) are both Leveraged Equities funds - FBGX tracks the Russell 1000 Growth Index (200%) while UYG tracks the Dow Jones U.S. Financials Index (200%). Both are passively managed. A 0.60 correlation means they provide meaningful diversification when combined. FBGX charges 1.29%/yr vs 0.95%/yr for UYG.

Performance

FBGX vs. UYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS AG FI Enhanced Large Cap Growth ETN (FBGX) and ProShares Ultra Financials (UYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FBGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UYG

• 1D: 0.69%
• 1M: 8.96%
• YTD: -7.22%
• 6M: -7.53%
• 1Y: 9.46%
• 3Y*: 28.71%
• 5Y*: 11.18%
• 10Y*: 17.78%

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

FBGX vs. UYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	35.73%	83.74%	-56.41%	57.04%	65.79%	75.84%	-16.58%	64.01%
UYG ProShares Ultra Financials	-7.22%	19.77%	55.71%	22.14%	-32.11%	76.26%	-20.32%	66.15%	-22.61%	39.28%

Correlation

The correlation between FBGX and UYG is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 11, 2014	0.60

The correlation between FBGX and UYG shifts across timeframes, from 0.24 (3 years) to 0.60 (all time), reflecting how their relationship changes across market environments.

FBGX vs. UYG - Sectors Allocation Comparison

Sectors	FBGX	UYG
Basic Materials	0.0%	-
Communication Services	0.0%	-
Consumer Cyclical	0.0%	-
Consumer Defensive	0.0%	-
Energy	0.0%	-
Financial Services	0.0%	98.0%
Healthcare	0.0%	-
Industrials	0.0%	0.2%
Real Estate	0.0%	-
Technology	0.0%	1.8%
Utilities	0.0%	-

Return for Risk

FBGX vs. UYG — Risk / Return Rank

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

FBGX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

UYG

UYG Risk / Return Rank: 14
UYG Sharpe Ratio Rank: 14
UYG Sortino Ratio Rank: 14
UYG Omega Ratio Rank: 14
UYG Calmar Ratio Rank: 13
UYG Martin Ratio Rank: 13

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.

FBGX vs. UYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS AG FI Enhanced Large Cap Growth ETN (FBGX) and ProShares Ultra Financials (UYG). 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.

	FBGX	UYG	Difference
Sharpe ratio: Return per unit of total volatility	—	0.33	—
Sortino ratio: Return per unit of downside risk	—	0.63	—
Omega ratio: Gain probability vs. loss probability	—	1.08	—
Calmar ratio: Return relative to maximum drawdown	—	0.33	—
Martin ratio: Return relative to average drawdown	—	0.78	—

Drawdowns

Drawdown Indicators

	FBGX	UYG	Difference
Max Drawdown Largest peak-to-trough decline	—	-97.90%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-28.91%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-30.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-47.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-69.98%	—
Current Drawdown Current decline from peak	—	-12.37%	—
Average Drawdown Average peak-to-trough decline	—	-63.28%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.17%	—

Volatility

Volatility by Period

	FBGX	UYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	29.13%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	36.23%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	41.07%	—

FBGX vs. UYG - Expense Ratio Comparison

FBGX has a 1.29% expense ratio, which is higher than UYG's 0.95% expense ratio.

Dividends

FBGX vs. UYG - Dividend Comparison

FBGX has not paid dividends to shareholders, while UYG's dividend yield for the trailing twelve months is around 12.59%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UYG ProShares Ultra Financials	12.59%	11.72%	0.51%	0.79%	0.77%	9.39%	0.66%	0.90%	1.28%	0.56%	0.76%	0.72%

Frequently Asked Questions

Can I hold both FBGX and UYG in my portfolio?

FBGX and UYG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBGX or UYG?

On fees, UYG is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBGX or UYG?

UYG is cheaper with a 0.95% expense ratio, compared with 1.29% for FBGX.

Which ETF pays a higher dividend yield, FBGX or UYG?

UYG has the higher dividend yield at 12.59%, compared with 0.00% for FBGX.

What is the main difference between FBGX and UYG?

FBGX tracks Russell 1000 Growth Index (200%), while UYG tracks Dow Jones U.S. Financials Index (200%). They also come from different issuers: UBS and ProShares. Their fees differ too: 1.29% for FBGX and 0.95% for UYG.