FLYU vs. UMDD

Last updated Jun 13, 2026

FLYU (MicroSectors Travel 3X Leveraged ETNs) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds - FLYU tracks the MerQube MicroSectors U.S. Travel Index while UMDD tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 3 years, FLYU returned 4.85%/yr vs 23.57%/yr for UMDD. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.

Performance

FLYU vs. UMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Travel 3X Leveraged ETNs (FLYU) and ProShares UltraPro MidCap400 (UMDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLYU achieves a -18.15% return, which is significantly lower than UMDD's 41.42% return.

FLYU

• 1D: 2.56%
• 1M: 19.09%
• YTD: -18.15%
• 6M: -16.93%
• 1Y: 1.53%
• 3Y*: 4.85%
• 5Y*: —
• 10Y*: —

UMDD

• 1D: 2.20%
• 1M: 10.73%
• YTD: 41.42%
• 6M: 35.75%
• 1Y: 66.43%
• 3Y*: 23.57%
• 5Y*: 2.41%
• 10Y*: 12.78%

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

FLYU vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLYU MicroSectors Travel 3X Leveraged ETNs	-18.15%	-2.29%	33.00%	111.16%	-19.09%
UMDD ProShares UltraPro MidCap400	41.42%	-2.57%	19.68%	27.21%	12.32%

Correlation

The correlation between FLYU and UMDD is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022	0.76

The correlation between FLYU and UMDD has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.

FLYU vs. UMDD - Sectors Allocation Comparison

Sectors	FLYU	UMDD
Consumer Cyclical	52.6%	5.1%
Industrials	17.7%	13.4%
Technology	16.4%	9.0%
Communication Services	13.2%	0.5%
Real Estate	0.1%	3.9%
Basic Materials	-	2.6%
Consumer Defensive	-	2.2%
Energy	-	2.7%
Financial Services	-	7.1%
Healthcare	-	4.8%
Utilities	-	1.6%

Return for Risk

FLYU vs. UMDD — Risk / Return Rank

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

FLYU

FLYU Risk / Return Rank: 11
FLYU Sharpe Ratio Rank: 10
FLYU Sortino Ratio Rank: 14
FLYU Omega Ratio Rank: 14
FLYU Calmar Ratio Rank: 10
FLYU Martin Ratio Rank: 10

UMDD

UMDD Risk / Return Rank: 49
UMDD Sharpe Ratio Rank: 45
UMDD Sortino Ratio Rank: 45
UMDD Omega Ratio Rank: 43
UMDD Calmar Ratio Rank: 58
UMDD Martin Ratio Rank: 56

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.

FLYU vs. UMDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel 3X Leveraged ETNs (FLYU) and ProShares UltraPro MidCap400 (UMDD). 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.

	FLYU	UMDD	Difference
Sharpe ratio: Return per unit of total volatility	0.02	1.40	-1.38
Sortino ratio: Return per unit of downside risk	0.59	2.01	-1.42
Omega ratio: Gain probability vs. loss probability	1.07	1.24	-0.18
Calmar ratio: Return relative to maximum drawdown	0.03	2.56	-2.53
Martin ratio: Return relative to average drawdown	0.06	8.58	-8.52

FLYU vs. UMDD - Sharpe Ratio Comparison

The current FLYU Sharpe Ratio is 0.02, which is lower than the UMDD Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of FLYU and UMDD, 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

FLYU vs. UMDD - Drawdown Comparison

The maximum FLYU drawdown since its inception was -69.00%, smaller than the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for FLYU and UMDD.

Drawdown Indicators

	FLYU	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-69.00%	-86.24%	+17.24%
Max Drawdown (1Y) Largest decline over 1 year	-52.33%	-26.04%	-26.29%
Max Drawdown (3Y) Largest decline over 3 years	-69.00%	-60.33%	-8.67%
Max Drawdown (5Y) Largest decline over 5 years	—	-64.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.24%	—
Current Drawdown Current decline from peak	-35.07%	-3.15%	-31.92%
Average Drawdown Average peak-to-trough decline	-26.53%	-23.58%	-2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.05%	7.78%	+17.27%

Volatility

FLYU vs. UMDD - Volatility Comparison

MicroSectors Travel 3X Leveraged ETNs (FLYU) has a higher volatility of 23.60% compared to ProShares UltraPro MidCap400 (UMDD) at 14.80%. This indicates that FLYU's price experiences larger fluctuations and is considered to be riskier than UMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLYU	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.60%	14.80%	+8.80%
Volatility (6M) Calculated over the trailing 6-month period	59.07%	35.26%	+23.81%
Volatility (1Y) Calculated over the trailing 1-year period	75.07%	47.64%	+27.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.21%	59.05%	+24.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	83.21%	62.32%	+20.89%

FLYU vs. UMDD - Expense Ratio Comparison

Both FLYU and UMDD have an expense ratio of 0.95%.

Dividends

FLYU vs. UMDD - Dividend Comparison

FLYU has not paid dividends to shareholders, while UMDD's dividend yield for the trailing twelve months is around 0.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLYU MicroSectors Travel 3X Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UMDD ProShares UltraPro MidCap400	0.74%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%

Frequently Asked Questions

Can I hold both FLYU and UMDD in my portfolio?

FLYU and UMDD have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLYU or UMDD?

FLYU has higher volatility (23.60%) compared to UMDD (14.80%). In terms of maximum drawdown, FLYU dropped -69.00% vs UMDD's -86.24%.

Which ETF is better, FLYU or UMDD?

On 3-year performance, UMDD leads with 23.57% vs 4.85% for FLYU. Both ETFs have the same 0.95% expense ratio. On volatility, UMDD has been the lower-risk option at 14.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLYU or UMDD?

Over the 3-year period, UMDD has performed better with a 23.57% return vs 4.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLYU or UMDD?

FLYU and UMDD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, FLYU or UMDD?

UMDD has the higher dividend yield at 0.74%, compared with 0.00% for FLYU.

What is the main difference between FLYU and UMDD?

FLYU tracks MerQube MicroSectors U.S. Travel Index, while UMDD tracks S&P MidCap 400 Index (300%). They also come from different issuers: REX and ProShares.

Which has better risk-adjusted returns?

UMDD currently has the higher Sharpe Ratio (1.40 vs 0.02), 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.