SKYU vs. PLUL

Last updated Jul 18, 2026

SKYU (ProShares Ultra Nasdaq Cloud Computing ETF) and PLUL (Leverage Shares 2X Long PLUG Daily ETF) are both Leveraged Equities funds - SKYU tracks the ISE Cloud Computing Index (200%) while PLUL tracks the Plug Power Inc. (PLUG). Both are passively managed. At a 0.31 correlation, their price movements are largely independent. SKYU charges 0.95%/yr vs 0.75%/yr for PLUL.

Performance

SKYU vs. PLUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and Leverage Shares 2X Long PLUG Daily ETF (PLUL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SKYU

• 1D: -0.31%
• 1M: 5.74%
• 6M: 10.58%
• YTD: 0.49%
• 1Y: 8.45%
• 3Y*: 24.28%
• 5Y*: -3.11%
• 10Y*: —

PLUL

• 1D: 1.09%
• 1M: -36.28%
• 6M: -48.13%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SKYU vs. PLUL - Yearly Performance Comparison

	2026 (YTD)
SKYU ProShares Ultra Nasdaq Cloud Computing ETF	0.23%
PLUL Leverage Shares 2X Long PLUG Daily ETF	-43.82%

Correlation

The correlation between SKYU and PLUL is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.31

Return for Risk

SKYU vs. PLUL — Risk / Return Rank

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

SKYU

SKYU Risk / Return Rank: 13
SKYU Sharpe Ratio Rank: 12
SKYU Sortino Ratio Rank: 15
SKYU Omega Ratio Rank: 15
SKYU Calmar Ratio Rank: 12
SKYU Martin Ratio Rank: 12

PLUL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SKYU vs. PLUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and Leverage Shares 2X Long PLUG Daily ETF (PLUL). 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.

	SKYU	PLUL	Difference
Sharpe ratio: Return per unit of total volatility	0.15	—	—
Sortino ratio: Return per unit of downside risk	0.63	—	—
Omega ratio: Gain probability vs. loss probability	1.07	—	—
Calmar ratio: Return relative to maximum drawdown	0.17	—	—
Martin ratio: Return relative to average drawdown	0.33	—	—

Drawdowns

SKYU vs. PLUL - Drawdown Comparison

The maximum SKYU drawdown since its inception was -83.01%, which is greater than PLUL's maximum drawdown of -75.44%. Use the drawdown chart below to compare losses from any high point for SKYU and PLUL.

Drawdown Indicators

	SKYU	PLUL	Difference
Max Drawdown Largest peak-to-trough decline	-83.01%	-75.44%	-7.57%
Max Drawdown (1Y) Largest decline over 1 year	-50.23%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-55.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-83.01%	—	—
Current Drawdown Current decline from peak	-35.29%	-75.18%	+39.89%
Average Drawdown Average peak-to-trough decline	-48.84%	-32.41%	-16.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.35%	—	—

Volatility

Volatility by Period

	SKYU	PLUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	48.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	57.91%	178.01%	-120.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	62.27%	178.01%	-115.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.97%	178.01%	-117.04%

SKYU vs. PLUL - Expense Ratio Comparison

SKYU has a 0.95% expense ratio, which is higher than PLUL's 0.75% expense ratio.

Dividends

SKYU vs. PLUL - Dividend Comparison

SKYU's dividend yield for the trailing twelve months is around 0.82%, while PLUL has not paid dividends to shareholders.

Position	TTM	2025	2024
PLUL Leverage Shares 2X Long PLUG Daily ETF	0.00%	0.00%	0.00%
SKYU ProShares Ultra Nasdaq Cloud Computing ETF	0.82%	0.56%	0.21%

Frequently Asked Questions

Can I hold both SKYU and PLUL in my portfolio?

SKYU and PLUL have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SKYU or PLUL?

On fees, PLUL is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SKYU or PLUL?

PLUL is cheaper with a 0.75% expense ratio, compared with 0.95% for SKYU.

Which ETF pays a higher dividend yield, SKYU or PLUL?

SKYU has the higher dividend yield at 0.82%, compared with 0.00% for PLUL.

What is the main difference between SKYU and PLUL?

SKYU tracks ISE Cloud Computing Index (200%), while PLUL tracks Plug Power Inc. (PLUG). They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for SKYU and 0.75% for PLUL.