SPHB vs. URSP
SPHB (Invesco S&P 500® High Beta ETF) and URSP (ProShares Ultra S&P 500 Equal Weight ETF) are both exchange-traded funds - SPHB is a S&P 500 fund tracking the S&P 500 High Beta Index, while URSP is a Leveraged Equities fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Their 0.65 correlation means they have sometimes moved together and sometimes differently. SPHB charges 0.25%/yr vs 0.95%/yr for URSP.
Performance
SPHB vs. URSP - Performance Comparison
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Returns By Period
In the year-to-date period, SPHB achieves a 19.95% return, which is significantly lower than URSP's 22.76% return.
SPHB
- 1D
- 0.05%
- 1M
- -5.41%
- 6M
- 15.81%
- YTD
- 19.95%
- 1Y
- 39.56%
- 3Y*
- 21.36%
- 5Y*
- 14.83%
- 10Y*
- 17.94%
- ALL TIME*
- 13.56%
URSP
- 1D
- -0.29%
- 1M
- -0.25%
- 6M
- 15.52%
- YTD
- 22.76%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $46.45M | $55.30M | $54.87M | |
| $2.68M | $2.91M | $2.10M |
SPHB vs. URSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPHB Invesco S&P 500® High Beta ETF | 19.95% | 11.73% |
URSP ProShares Ultra S&P 500 Equal Weight ETF | 22.76% | 1.59% |
Correlation
The correlation between SPHB and URSP is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 27, 2025 | 0.65 |
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Return for Risk
SPHB vs. URSP — Risk / Return Rank
SPHB
URSP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPHB vs. URSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500® High Beta ETF (SPHB) and ProShares Ultra S&P 500 Equal Weight ETF (URSP). 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.
| SPHB | URSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.24 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | — | — |
| Martin ratioReturn relative to average drawdown | 9.86 | — | — |
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Drawdowns
SPHB vs. URSP - Drawdown Comparison
The maximum SPHB drawdown since its inception was -46.84%, which is greater than URSP's maximum drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for SPHB and URSP.
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Drawdown Indicators
| SPHB | URSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.84% | -15.72% | -31.12% |
Max Drawdown (1Y)Largest decline over 1 year | -14.11% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -29.21% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.84% | — | — |
Current DrawdownCurrent decline from peak | -10.79% | -2.52% | -8.27% |
Average DrawdownAverage peak-to-trough decline | -8.47% | -2.89% | -5.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | — | — |
Volatility
SPHB vs. URSP - Volatility Comparison
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Volatility by Period
| SPHB | URSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.30% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 21.54% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 26.09% | 23.34% | +2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.84% | 23.34% | +4.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.57% | 23.34% | +5.23% |
SPHB vs. URSP - Expense Ratio Comparison
SPHB has a 0.25% expense ratio, which is lower than URSP's 0.95% expense ratio.
Dividends
SPHB vs. URSP - Dividend Comparison
SPHB's dividend yield for the trailing twelve months is around 0.58%, less than URSP's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPHB Invesco S&P 500® High Beta ETF | 0.58% | 0.60% | 0.80% | 0.73% | 0.72% | 0.91% | 1.90% | 1.26% | 1.96% | 1.34% | 0.93% | 1.69% |
URSP ProShares Ultra S&P 500 Equal Weight ETF | 0.91% | 0.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPHB and URSP have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPHB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPHB is cheaper with a 0.25% expense ratio, compared with 0.95% for URSP.
URSP has the higher dividend yield at 0.91%, compared with 0.58% for SPHB.
SPHB is categorized as S&P 500, while URSP is Leveraged Equities. SPHB tracks S&P 500 High Beta Index, while URSP tracks S&P 500 Equal Weight Index. They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.25% for SPHB and 0.95% for URSP.
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