MYY vs. UPRO
MYY (ProShares Short S&P Mid Cap400) and UPRO (ProShares UltraPro S&P 500) are both exchange-traded funds - MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%), while UPRO is a Leveraged Equities fund tracking the S&P 500. Both are passively managed. Over the past 10 years, MYY returned -11.38%/yr vs 30.18%/yr for UPRO. At a correlation of -0.87, they often move in opposite directions. MYY charges 0.95%/yr vs 0.89%/yr for UPRO.
Performance
MYY vs. UPRO - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -11.47% return, which is significantly lower than UPRO's 17.21% return. Over the past 10 years, MYY has underperformed UPRO with an annualized return of -11.38%, while UPRO has yielded a comparatively higher 30.18% annualized return.
MYY
- 1D
- 0.97%
- 1M
- -2.32%
- YTD
- -11.47%
- 6M
- -9.76%
- 1Y
- -16.72%
- 3Y*
- -9.96%
- 5Y*
- -6.13%
- 10Y*
- -11.38%
UPRO
- 1D
- -4.27%
- 1M
- -5.38%
- YTD
- 17.21%
- 6M
- 13.86%
- 1Y
- 62.29%
- 3Y*
- 46.23%
- 5Y*
- 20.37%
- 10Y*
- 30.18%
MYY vs. UPRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.47% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
UPRO ProShares UltraPro S&P 500 | 17.21% | 31.88% | 63.57% | 68.53% | -56.84% | 98.64% | 10.09% | 102.30% | -25.11% | 71.37% |
Correlation
The correlation between MYY and UPRO is -0.75, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.83 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2009 | -0.87 |
The correlation between MYY and UPRO shifts across timeframes, from -0.87 (all time) to -0.75 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MYY vs. UPRO — Risk / Return Rank
MYY
UPRO
MYY vs. UPRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) 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.
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.
| MYY | UPRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.74 | ||
| Sortino ratioReturn per unit of downside risk | -3.58 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.28 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.34 | -3.30 |
| Martin ratioReturn relative to average drawdown | -1.82 | 9.52 | -11.34 |
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Drawdowns
MYY vs. UPRO - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.14%, which is greater than UPRO's maximum drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for MYY and UPRO.
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Drawdown Indicators
| MYY | UPRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.14% | -76.82% | -18.32% |
Max Drawdown (1Y)Largest decline over 1 year | -17.48% | -26.78% | +9.30% |
Max Drawdown (3Y)Largest decline over 3 years | -34.39% | -48.87% | +14.48% |
Max Drawdown (5Y)Largest decline over 5 years | -37.07% | -63.94% | +26.87% |
Max Drawdown (10Y)Largest decline over 10 years | -71.61% | -76.82% | +5.21% |
Current DrawdownCurrent decline from peak | -95.09% | -10.27% | -84.82% |
Average DrawdownAverage peak-to-trough decline | -72.19% | -14.39% | -57.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.25% | 6.57% | +2.68% |
Volatility
MYY vs. UPRO - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.50%, while ProShares UltraPro S&P 500 (UPRO) has a volatility of 14.68%. This indicates that MYY 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
| MYY | UPRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.50% | 14.68% | -10.18% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 29.49% | -17.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.86% | 37.35% | -21.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.63% | 50.62% | -30.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.24% | 53.79% | -32.55% |
MYY vs. UPRO - Expense Ratio Comparison
MYY has a 0.95% expense ratio, which is higher than UPRO's 0.89% expense ratio.
Dividends
MYY vs. UPRO - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.47%, more than UPRO's 0.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | 4.47% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% | 0.00% | 0.00% | 0.00% |
UPRO ProShares UltraPro S&P 500 | 0.74% | 0.84% | 0.93% | 0.74% | 0.52% | 0.06% | 0.11% | 0.41% | 0.63% | 0.00% | 0.12% | 0.34% |
Frequently Asked Questions
MYY and UPRO have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UPRO has higher volatility (14.68%) compared to MYY (4.50%). In terms of maximum drawdown, MYY dropped -95.14% vs UPRO's -76.82%.
On 10-year performance, UPRO leads with 30.18% vs -11.38% for MYY. On fees, UPRO is cheaper at 0.89% per year. On volatility, MYY has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UPRO has performed better with a 30.18% return vs -11.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UPRO is cheaper with a 0.89% expense ratio, compared with 0.95% for MYY.
MYY has the higher dividend yield at 4.47%, compared with 0.74% for UPRO.
MYY is categorized as Inverse Equities, while UPRO is Leveraged Equities. MYY tracks S&P Mid Cap 400 (-100%), while UPRO tracks S&P 500. Their fees differ too: 0.95% for MYY and 0.89% for UPRO.
UPRO currently has the higher Sharpe Ratio (1.68 vs -1.06), 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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