FXZ vs. UYM

Last updated Jun 24, 2026

FXZ (First Trust Materials AlphaDEX Fund) and UYM (ProShares Ultra Basic Materials) are both exchange-traded funds - FXZ is a Materials fund tracking the StrataQuant Materials Index, while UYM is a Leveraged Equities fund tracking the Dow Jones U.S. Basic Materials Index (200%). Both are passively managed. Over the past 10 years, FXZ returned 11.46%/yr vs 12.37%/yr for UYM. Their correlation of 0.90 suggests significant overlap in exposure. FXZ charges 0.67%/yr vs 0.95%/yr for UYM.

Performance

FXZ vs. UYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Materials AlphaDEX Fund (FXZ) and ProShares Ultra Basic Materials (UYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXZ achieves a 24.42% return, which is significantly higher than UYM's 22.19% return. Over the past 10 years, FXZ has underperformed UYM with an annualized return of 11.46%, while UYM has yielded a comparatively higher 12.37% annualized return.

FXZ

• 1D: -2.45%
• 1M: 0.61%
• YTD: 24.42%
• 6M: 22.36%
• 1Y: 44.84%
• 3Y*: 11.20%
• 5Y*: 8.66%
• 10Y*: 11.46%

UYM

• 1D: -2.78%
• 1M: 2.44%
• YTD: 22.19%
• 6M: 20.07%
• 1Y: 29.81%
• 3Y*: 11.26%
• 5Y*: 5.73%
• 10Y*: 12.37%

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

FXZ vs. UYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXZ First Trust Materials AlphaDEX Fund	24.42%	16.25%	-16.31%	16.27%	-0.92%	30.84%	22.52%	21.52%	-22.62%	23.72%
UYM ProShares Ultra Basic Materials	22.19%	9.46%	-8.00%	17.47%	-23.10%	54.58%	16.56%	35.09%	-35.68%	51.51%

Correlation

The correlation between FXZ and UYM is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since May 10, 2007	0.90

The correlation between FXZ and UYM has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

FXZ vs. UYM - Sectors Allocation Comparison

Sectors	FXZ	UYM
Basic Materials	76.9%	87.3%
Industrials	15.4%	1.1%
Consumer Cyclical	5.1%	12.7%
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FXZ vs. UYM — Risk / Return Rank

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

FXZ

FXZ Risk / Return Rank: 66
FXZ Sharpe Ratio Rank: 64
FXZ Sortino Ratio Rank: 61
FXZ Omega Ratio Rank: 57
FXZ Calmar Ratio Rank: 74
FXZ Martin Ratio Rank: 73

UYM

UYM Risk / Return Rank: 26
UYM Sharpe Ratio Rank: 25
UYM Sortino Ratio Rank: 26
UYM Omega Ratio Rank: 24
UYM Calmar Ratio Rank: 28
UYM Martin Ratio Rank: 27

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.

FXZ vs. UYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Materials AlphaDEX Fund (FXZ) and ProShares Ultra Basic Materials (UYM). 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.

	FXZ	UYM	Difference
Sharpe ratio: Return per unit of total volatility	1.98	0.85	+1.13
Sortino ratio: Return per unit of downside risk	2.68	1.37	+1.31
Omega ratio: Gain probability vs. loss probability	1.33	1.16	+0.17
Calmar ratio: Return relative to maximum drawdown	3.53	1.26	+2.28
Martin ratio: Return relative to average drawdown	13.08	3.31	+9.77

FXZ vs. UYM - Sharpe Ratio Comparison

The current FXZ Sharpe Ratio is 1.98, which is higher than the UYM Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of FXZ and UYM, 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

FXZ vs. UYM - Drawdown Comparison

The maximum FXZ drawdown since its inception was -65.46%, smaller than the maximum UYM drawdown of -92.77%. Use the drawdown chart below to compare losses from any high point for FXZ and UYM.

Drawdown Indicators

	FXZ	UYM	Difference
Max Drawdown Largest peak-to-trough decline	-65.46%	-92.77%	+27.31%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	-23.85%	+11.10%
Max Drawdown (3Y) Largest decline over 3 years	-33.99%	-43.88%	+9.89%
Max Drawdown (5Y) Largest decline over 5 years	-33.99%	-48.25%	+14.26%
Max Drawdown (10Y) Largest decline over 10 years	-49.41%	-73.31%	+23.90%
Current Drawdown Current decline from peak	-5.23%	-11.50%	+6.27%
Average Drawdown Average peak-to-trough decline	-11.33%	-42.02%	+30.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	9.03%	-5.59%

Volatility

FXZ vs. UYM - Volatility Comparison

The current volatility for First Trust Materials AlphaDEX Fund (FXZ) is 7.83%, while ProShares Ultra Basic Materials (UYM) has a volatility of 12.24%. This indicates that FXZ experiences smaller price fluctuations and is considered to be less risky than UYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXZ	UYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.83%	12.24%	-4.41%
Volatility (6M) Calculated over the trailing 6-month period	17.24%	27.35%	-10.11%
Volatility (1Y) Calculated over the trailing 1-year period	22.77%	35.13%	-12.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.19%	39.40%	-15.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.93%	42.77%	-17.84%

FXZ vs. UYM - Expense Ratio Comparison

FXZ has a 0.67% expense ratio, which is lower than UYM's 0.95% expense ratio.

Dividends

FXZ vs. UYM - Dividend Comparison

FXZ's dividend yield for the trailing twelve months is around 1.44%, more than UYM's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXZ First Trust Materials AlphaDEX Fund	1.44%	1.74%	1.81%	1.97%	1.56%	1.11%	1.51%	1.58%	1.38%	1.01%	1.19%	1.26%
UYM ProShares Ultra Basic Materials	1.24%	1.47%	0.98%	0.28%	0.88%	0.52%	0.56%	1.24%	0.94%	0.38%	0.55%	0.42%

Frequently Asked Questions

Can I hold both FXZ and UYM in my portfolio?

With a correlation of 0.92, FXZ and UYM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FXZ or UYM?

UYM has higher volatility (12.24%) compared to FXZ (7.83%). In terms of maximum drawdown, FXZ dropped -65.46% vs UYM's -92.77%.

Which ETF is better, FXZ or UYM?

On 10-year performance, UYM leads with 12.37% vs 11.46% for FXZ. On fees, FXZ is cheaper at 0.67% per year. On volatility, FXZ has been the lower-risk option at 7.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXZ or UYM?

Over the 10-year period, UYM has performed better with a 12.37% return vs 11.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXZ or UYM?

FXZ is cheaper with a 0.67% expense ratio, compared with 0.95% for UYM.

Which ETF pays a higher dividend yield, FXZ or UYM?

FXZ has the higher dividend yield at 1.44%, compared with 1.24% for UYM.

What is the main difference between FXZ and UYM?

FXZ is categorized as Materials, while UYM is Leveraged Equities. FXZ tracks StrataQuant Materials Index, while UYM tracks Dow Jones U.S. Basic Materials Index (200%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.67% for FXZ and 0.95% for UYM.

Which has better risk-adjusted returns?

FXZ currently has the higher Sharpe Ratio (1.98 vs 0.85), 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.