LTL vs. UCC
LTL (ProShares Ultra Telecommunications) and UCC (ProShares Ultra Consumer Services) are both Leveraged Equities funds from ProShares - LTL tracks the Dow Jones U.S. Select Telecommunications Index (200%) while UCC tracks the Dow Jones U.S. Consumer Services Index (200%). Both are passively managed. Over the past 10 years, LTL returned 8.83%/yr vs 13.99%/yr for UCC. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
LTL vs. UCC - Performance Comparison
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Returns By Period
In the year-to-date period, LTL achieves a -12.79% return, which is significantly lower than UCC's -8.62% return. Over the past 10 years, LTL has underperformed UCC with an annualized return of 8.83%, while UCC has yielded a comparatively higher 13.99% annualized return.
LTL
- 1D
- -1.02%
- 1M
- -9.73%
- YTD
- -12.79%
- 6M
- -10.48%
- 1Y
- 12.42%
- 3Y*
- 34.49%
- 5Y*
- 15.81%
- 10Y*
- 8.83%
UCC
- 1D
- 0.57%
- 1M
- -4.37%
- YTD
- -8.62%
- 6M
- -10.29%
- 1Y
- 12.48%
- 3Y*
- 14.37%
- 5Y*
- -0.24%
- 10Y*
- 13.99%
LTL vs. UCC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTL ProShares Ultra Telecommunications | -12.79% | 37.06% | 65.15% | 62.03% | -41.14% | 40.42% | -3.25% | 30.16% | -23.44% | -26.85% |
UCC ProShares Ultra Consumer Services | -8.62% | 2.21% | 44.24% | 61.67% | -57.59% | 20.92% | 46.55% | 53.76% | -4.94% | 42.05% |
Correlation
The correlation between LTL and UCC is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since May 22, 2008 | 0.55 |
The correlation between LTL and UCC shifts across timeframes, from 0.55 (all time) to 0.71 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
LTL vs. UCC — Risk / Return Rank
LTL
UCC
LTL vs. UCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Telecommunications (LTL) and ProShares Ultra Consumer Services (UCC). 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.
| LTL | UCC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.08 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 0.35 | +0.12 |
| Martin ratioReturn relative to average drawdown | 1.29 | 0.97 | +0.32 |
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Drawdowns
LTL vs. UCC - Drawdown Comparison
The maximum LTL drawdown since its inception was -80.20%, roughly equal to the maximum UCC drawdown of -83.05%. Use the drawdown chart below to compare losses from any high point for LTL and UCC.
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Drawdown Indicators
| LTL | UCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.20% | -83.05% | +2.85% |
Max Drawdown (1Y)Largest decline over 1 year | -21.43% | -29.14% | +7.71% |
Max Drawdown (3Y)Largest decline over 3 years | -34.37% | -48.01% | +13.64% |
Max Drawdown (5Y)Largest decline over 5 years | -52.60% | -61.77% | +9.17% |
Max Drawdown (10Y)Largest decline over 10 years | -64.15% | -61.77% | -2.38% |
Current DrawdownCurrent decline from peak | -15.86% | -18.41% | +2.55% |
Average DrawdownAverage peak-to-trough decline | -28.63% | -21.80% | -6.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.69% | 10.45% | -2.76% |
Volatility
LTL vs. UCC - Volatility Comparison
The current volatility for ProShares Ultra Telecommunications (LTL) is 7.29%, while ProShares Ultra Consumer Services (UCC) has a volatility of 12.41%. This indicates that LTL experiences smaller price fluctuations and is considered to be less risky than UCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTL | UCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.29% | 12.41% | -5.12% |
Volatility (6M)Calculated over the trailing 6-month period | 19.50% | 27.05% | -7.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.89% | 36.41% | -9.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.58% | 43.70% | -9.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.91% | 40.68% | -3.77% |
LTL vs. UCC - Expense Ratio Comparison
Both LTL and UCC have an expense ratio of 0.95%.
Dividends
LTL vs. UCC - Dividend Comparison
LTL's dividend yield for the trailing twelve months is around 0.93%, less than UCC's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTL ProShares Ultra Telecommunications | 0.93% | 0.64% | 0.29% | 0.97% | 2.01% | 1.14% | 1.57% | 0.83% | 1.99% | 1.96% | 0.70% | 1.55% |
UCC ProShares Ultra Consumer Services | 1.18% | 1.10% | 0.17% | 0.04% | 0.25% | 0.00% | 0.02% | 0.17% | 0.18% | 0.14% | 0.21% | 0.14% |
Frequently Asked Questions
LTL and UCC have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCC has higher volatility (12.41%) compared to LTL (7.29%). In terms of maximum drawdown, LTL dropped -80.20% vs UCC's -83.05%.
On 10-year performance, UCC leads with 13.99% vs 8.83% for LTL. Both ETFs have the same 0.95% expense ratio. On volatility, LTL has been the lower-risk option at 7.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UCC has performed better with a 13.99% return vs 8.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LTL and UCC have the same expense ratio: 0.95% per year.
UCC has the higher dividend yield at 1.18%, compared with 0.93% for LTL.
LTL tracks Dow Jones U.S. Select Telecommunications Index (200%), while UCC tracks Dow Jones U.S. Consumer Services Index (200%).
LTL currently has the higher Sharpe Ratio (0.37 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.
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