O vs. UGE

Last updated Jun 13, 2026

O (Realty Income Corporation) is a stock, while UGE (ProShares Ultra Consumer Goods) is Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (200%). Over the past 10 years, O returned 4.89%/yr vs 8.80%/yr for UGE. At a 0.43 correlation, their price movements are largely independent.

Performance

O vs. UGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Realty Income Corporation (O) 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, O achieves a 13.70% return, which is significantly lower than UGE's 18.88% return. Over the past 10 years, O has underperformed UGE with an annualized return of 4.89%, while UGE has yielded a comparatively higher 8.80% annualized return.

O

• 1D: 1.31%
• 1M: 1.67%
• YTD: 13.70%
• 6M: 11.57%
• 1Y: 14.88%
• 3Y*: 6.59%
• 5Y*: 3.49%
• 10Y*: 4.89%

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)

O vs. UGE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
O Realty Income Corporation	13.70%	12.20%	-2.11%	-4.55%	-7.38%	23.95%	-11.60%	21.27%	15.94%	3.67%
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 O and UGE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007	0.43

Return for Risk

O vs. UGE — Risk / Return Rank

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

O

O Risk / Return Rank: 66
O Sharpe Ratio Rank: 71
O Sortino Ratio Rank: 62
O Omega Ratio Rank: 61
O Calmar Ratio Rank: 68
O Martin Ratio Rank: 69

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.

O vs. UGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Realty Income Corporation (O) 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.

	O	UGE	Difference
Sharpe ratio: Return per unit of total volatility	0.88	0.28	+0.60
Sortino ratio: Return per unit of downside risk	1.26	0.58	+0.68
Omega ratio: Gain probability vs. loss probability	1.15	1.07	+0.09
Calmar ratio: Return relative to maximum drawdown	1.29	0.38	+0.91
Martin ratio: Return relative to average drawdown	3.12	0.67	+2.45

O vs. UGE - Sharpe Ratio Comparison

The current O Sharpe Ratio is 0.88, which is higher than the UGE Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of O 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

O vs. UGE - Drawdown Comparison

The maximum O drawdown since its inception was -48.45%, smaller than the maximum UGE drawdown of -71.36%. Use the drawdown chart below to compare losses from any high point for O and UGE.

Drawdown Indicators

	O	UGE	Difference
Max Drawdown Largest peak-to-trough decline	-48.45%	-71.36%	+22.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-18.95%	+7.85%
Max Drawdown (3Y) Largest decline over 3 years	-26.49%	-24.80%	-1.69%
Max Drawdown (5Y) Largest decline over 5 years	-34.48%	-56.55%	+22.07%
Max Drawdown (10Y) Largest decline over 10 years	-48.28%	-57.14%	+8.86%
Current Drawdown Current decline from peak	-5.94%	-32.84%	+26.90%
Average Drawdown Average peak-to-trough decline	-9.20%	-18.75%	+9.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.58%	10.64%	-6.06%

Volatility

O vs. UGE - Volatility Comparison

The current volatility for Realty Income Corporation (O) is 5.29%, while ProShares Ultra Consumer Goods (UGE) has a volatility of 8.67%. This indicates that O 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

	O	UGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	8.67%	-3.38%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	20.01%	-8.03%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	25.39%	-9.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	31.37%	-12.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.64%	33.11%	-7.47%

Dividends

O vs. UGE - Dividend Comparison

O's dividend yield for the trailing twelve months is around 5.16%, more than UGE's 2.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
O Realty Income Corporation	5.16%	6.19%	5.37%	5.33%	4.68%	3.87%	4.51%	3.69%	4.19%	4.45%	4.18%	4.41%
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 O and UGE in my portfolio?

O and UGE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, O or UGE?

UGE has higher volatility (8.67%) compared to O (5.29%). In terms of maximum drawdown, O dropped -48.45% vs UGE's -71.36%.

Which has better risk-adjusted returns?

O currently has the higher Sharpe Ratio (0.88 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.