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JBH.AX vs. UPRO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JBH.AX vs. UPRO

Last updated Apr 4, 2026

Compare and contrast key facts about JB Hi-Fi Limited (JBH.AX) and ProShares UltraPro S&P 500 (UPRO).

UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009.

Performance

JBH.AX vs. UPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in JB Hi-Fi Limited (JBH.AX) and ProShares UltraPro S&P 500 (UPRO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

JBH.AX is traded in AUD, while UPRO is traded in USD. To make them comparable, the UPRO values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, JBH.AX achieves a -23.20% return, which is significantly lower than UPRO's -16.84% return. Over the past 10 years, JBH.AX has underperformed UPRO with an annualized return of 18.06%, while UPRO has yielded a comparatively higher 26.89% annualized return.

JBH.AX

1D
-1.84%
1M
-7.15%
YTD
-23.20%
6M
-38.02%
1Y
-20.17%
3Y*
23.93%
5Y*
13.04%
10Y*
18.06%

UPRO

1D
0.53%
1M
-10.93%
YTD
-16.84%
6M
-15.40%
1Y
41.17%
3Y*
37.13%
5Y*
19.52%
10Y*
26.89%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JBH.AX vs. UPRO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JBH.AX
JB Hi-Fi Limited		-23.20%7.51%83.49%35.49%-7.18%5.66%34.53%79.82%-6.73%-6.96%
UPRO
ProShares UltraPro S&P 500		-16.84%22.30%80.03%68.66%-53.99%110.28%0.42%103.24%-17.09%58.32%

Correlation

The correlation between JBH.AX and UPRO is 0.06, meaning there is essentially no relationship between their price movements. They neither move together nor in opposition — each responds to its own set of market drivers. This independence makes them strong candidates for combining in a diversified portfolio.

Compare stocks, funds, or ETFs

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JB Hi-Fi Limited

ProShares UltraPro S&P 500

Often compared with JBH.AX:
JBH.AX vs. TQQQ
Often compared with UPRO:
UPRO vs. SPYUPRO vs. TQQQUPRO vs. SPXLUPRO vs. SSOUPRO vs. VOOUPRO vs. QLDUPRO vs. SPXU

Return for Risk

JBH.AX vs. UPRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JBH.AX
JBH.AX Risk / Return Rank: 1515
Overall Rank
JBH.AX Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
JBH.AX Sortino Ratio Rank: 1212
Sortino Ratio Rank
JBH.AX Omega Ratio Rank: 1313
Omega Ratio Rank
JBH.AX Calmar Ratio Rank: 2222
Calmar Ratio Rank
JBH.AX Martin Ratio Rank: 1818
Martin Ratio Rank
UPRO
UPRO Risk / Return Rank: 3434
Overall Rank
UPRO Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
UPRO Sortino Ratio Rank: 3737
Sortino Ratio Rank
UPRO Omega Ratio Rank: 4040
Omega Ratio Rank
UPRO Calmar Ratio Rank: 3030
Calmar Ratio Rank
UPRO Martin Ratio Rank: 3333
Martin Ratio Rank
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.

JBH.AX vs. UPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JB Hi-Fi Limited (JBH.AX) 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.

JBH.AXUPRODifference

Sharpe ratio

Return per unit of total volatility

-0.72

0.39

-1.11

Sortino ratio

Return per unit of downside risk

-0.93

0.89

-1.82

Omega ratio

Gain probability vs. loss probability

0.89

1.13

-0.25

Calmar ratio

Return relative to maximum drawdown

-0.52

0.73

-1.25

Martin ratio

Return relative to average drawdown

-1.13

2.31

-3.44

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JBH.AX vs. UPRO - Sharpe Ratio Comparison

The current JBH.AX Sharpe Ratio is -0.72, which is lower than the UPRO Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of JBH.AX 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.

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Sharpe Ratios by Period

JBH.AXUPRODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.72

0.39

-1.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.43

+0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.62

0.54

+0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.67

0.68

-0.01

Drawdowns

JBH.AX vs. UPRO - Drawdown Comparison

The maximum JBH.AX drawdown since its inception was -62.19%, smaller than the maximum UPRO drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for JBH.AX and UPRO.

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Drawdown Indicators

JBH.AXUPRODifference

Max Drawdown

Largest peak-to-trough decline

-62.19%

-76.82%

+14.63%

Max Drawdown (1Y)

Largest decline over 1 year

-38.72%

-26.78%

-11.94%

Max Drawdown (5Y)

Largest decline over 5 years

-38.72%

-63.94%

+25.22%

Max Drawdown (10Y)

Largest decline over 10 years

-46.16%

-76.82%

+30.66%

Current Drawdown

Current decline from peak

-38.42%

-18.51%

-19.91%

Average Drawdown

Average peak-to-trough decline

-14.63%

-14.53%

-0.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

17.84%

8.50%

+9.34%

Volatility

JBH.AX vs. UPRO - Volatility Comparison

The current volatility for JB Hi-Fi Limited (JBH.AX) is 8.42%, while ProShares UltraPro S&P 500 (UPRO) has a volatility of 14.04%. This indicates that JBH.AX 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.

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Volatility by Period

JBH.AXUPRODifference

Volatility (1M)

Calculated over the trailing 1-month period

8.42%

14.04%

-5.62%

Volatility (6M)

Calculated over the trailing 6-month period

20.50%

25.43%

-4.93%

Volatility (1Y)

Calculated over the trailing 1-year period

28.48%

50.11%

-21.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.22%

45.81%

-19.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.97%

50.23%

-21.26%

Dividends

JBH.AX vs. UPRO - Dividend Comparison

JBH.AX's dividend yield for the trailing twelve months is around 5.76%, more than UPRO's 1.01% yield.

TTM20252024202320222021202020192018201720162015
JBH.AX
JB Hi-Fi Limited		5.76%3.90%3.68%5.88%7.53%5.94%3.89%3.77%5.96%4.73%3.52%4.61%
UPRO
ProShares UltraPro S&P 500		1.01%0.84%0.93%0.74%0.52%0.06%0.11%0.41%0.63%0.00%0.12%0.34%