IAI vs. UGE

Last updated Jun 13, 2026

IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF) and UGE (ProShares Ultra Consumer Goods) are both exchange-traded funds - IAI is a Financials Equities fund tracking the DJ US Select / Investment Services, while UGE is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (200%). Both are passively managed. Over the past 10 years, IAI returned 19.37%/yr vs 8.80%/yr for UGE. A 0.51 correlation means they provide meaningful diversification when combined. IAI charges 0.41%/yr vs 0.95%/yr for UGE.

Performance

IAI vs. UGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and ProShares Ultra Consumer Goods (UGE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAI achieves a 3.17% return, which is significantly lower than UGE's 18.88% return. Over the past 10 years, IAI has outperformed UGE with an annualized return of 19.37%, while UGE has yielded a comparatively lower 8.80% annualized return.

IAI

• 1D: 1.83%
• 1M: 2.57%
• YTD: 3.17%
• 6M: 2.78%
• 1Y: 21.00%
• 3Y*: 28.06%
• 5Y*: 14.44%
• 10Y*: 19.37%

UGE

• 1D: 1.08%
• 1M: 1.29%
• YTD: 18.88%
• 6M: 15.24%
• 1Y: 9.47%
• 3Y*: 7.90%
• 5Y*: -1.08%
• 10Y*: 8.80%

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

IAI vs. UGE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	3.17%	25.80%	34.37%	15.27%	-10.87%	40.48%	18.61%	24.26%	-9.47%	28.86%
UGE ProShares Ultra Consumer Goods	18.88%	-5.21%	16.40%	2.38%	-46.78%	42.44%	56.64%	58.28%	-30.14%	32.38%

Correlation

The correlation between IAI and UGE is 0.00, 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	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007	0.51

Over the past year, the correlation between IAI and UGE has dropped to 0.00 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

IAI vs. UGE - Sectors Allocation Comparison

Sectors	IAI	UGE
Financial Services	99.9%	-
Technology	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	1.0%
Consumer Defensive	-	99.0%
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

IAI vs. UGE — Risk / Return Rank

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

IAI

IAI Risk / Return Rank: 29
IAI Sharpe Ratio Rank: 31
IAI Sortino Ratio Rank: 30
IAI Omega Ratio Rank: 29
IAI Calmar Ratio Rank: 27
IAI Martin Ratio Rank: 27

UGE

UGE Risk / Return Rank: 14
UGE Sharpe Ratio Rank: 14
UGE Sortino Ratio Rank: 14
UGE Omega Ratio Rank: 14
UGE Calmar Ratio Rank: 14
UGE 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.

IAI vs. UGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and ProShares Ultra Consumer Goods (UGE). 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.

	IAI	UGE	Difference
Sharpe ratio: Return per unit of total volatility	1.00	0.28	+0.71
Sortino ratio: Return per unit of downside risk	1.43	0.58	+0.85
Omega ratio: Gain probability vs. loss probability	1.18	1.07	+0.11
Calmar ratio: Return relative to maximum drawdown	1.17	0.38	+0.79
Martin ratio: Return relative to average drawdown	3.33	0.67	+2.66

IAI vs. UGE - Sharpe Ratio Comparison

The current IAI Sharpe Ratio is 1.00, which is higher than the UGE Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of IAI and UGE, 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

IAI vs. UGE - Drawdown Comparison

The maximum IAI drawdown since its inception was -75.46%, which is greater than UGE's maximum drawdown of -71.36%. Use the drawdown chart below to compare losses from any high point for IAI and UGE.

Drawdown Indicators

	IAI	UGE	Difference
Max Drawdown Largest peak-to-trough decline	-75.46%	-71.36%	-4.10%
Max Drawdown (1Y) Largest decline over 1 year	-16.52%	-18.95%	+2.43%
Max Drawdown (3Y) Largest decline over 3 years	-23.14%	-24.80%	+1.66%
Max Drawdown (5Y) Largest decline over 5 years	-28.84%	-56.55%	+27.71%
Max Drawdown (10Y) Largest decline over 10 years	-40.38%	-57.14%	+16.76%
Current Drawdown Current decline from peak	-2.81%	-32.84%	+30.03%
Average Drawdown Average peak-to-trough decline	-22.63%	-18.75%	-3.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.80%	10.64%	-4.84%

Volatility

IAI vs. UGE - Volatility Comparison

The current volatility for iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) is 5.98%, while ProShares Ultra Consumer Goods (UGE) has a volatility of 8.67%. This indicates that IAI experiences smaller price fluctuations and is considered to be less risky than UGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAI	UGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	8.67%	-2.69%
Volatility (6M) Calculated over the trailing 6-month period	15.34%	20.01%	-4.67%
Volatility (1Y) Calculated over the trailing 1-year period	19.44%	25.39%	-5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.48%	31.37%	-9.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.85%	33.11%	-10.26%

IAI vs. UGE - Expense Ratio Comparison

IAI has a 0.41% expense ratio, which is lower than UGE's 0.95% expense ratio.

Dividends

IAI vs. UGE - Dividend Comparison

IAI's dividend yield for the trailing twelve months is around 1.05%, less than UGE's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAI iShares U.S. Broker-Dealers & Securities Exchanges ETF	1.05%	0.95%	1.05%	1.80%	2.14%	1.31%	1.55%	1.52%	1.58%	1.37%	1.49%	1.31%
UGE ProShares Ultra Consumer Goods	2.05%	2.54%	1.43%	1.20%	0.74%	0.20%	0.41%	0.86%	0.76%	0.68%	0.76%	0.60%

Frequently Asked Questions

Can I hold both IAI and UGE in my portfolio?

IAI and UGE have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAI or UGE?

UGE has higher volatility (8.67%) compared to IAI (5.98%). In terms of maximum drawdown, IAI dropped -75.46% vs UGE's -71.36%.

Which ETF is better, IAI or UGE?

On 10-year performance, IAI leads with 19.37% vs 8.80% for UGE. On fees, IAI is cheaper at 0.41% per year. On volatility, IAI has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAI or UGE?

Over the 10-year period, IAI has performed better with a 19.37% return vs 8.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAI or UGE?

IAI is cheaper with a 0.41% expense ratio, compared with 0.95% for UGE.

Which ETF pays a higher dividend yield, IAI or UGE?

UGE has the higher dividend yield at 2.05%, compared with 1.05% for IAI.

What is the main difference between IAI and UGE?

IAI is categorized as Financials Equities, while UGE is Leveraged Equities. IAI tracks DJ US Select / Investment Services, while UGE tracks Dow Jones U.S. Consumer Goods Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.41% for IAI and 0.95% for UGE.

Which has better risk-adjusted returns?

IAI currently has the higher Sharpe Ratio (1.00 vs 0.28), 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.