SPXE vs. URSP
SPXE (ProShares S&P 500 Ex-Energy ETF) and URSP (ProShares Ultra S&P 500 Equal Weight ETF) are both exchange-traded funds - SPXE is a S&P 500 fund tracking the S&P 500 Ex-Energy 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. SPXE charges 0.09%/yr vs 0.95%/yr for URSP.
Performance
SPXE vs. URSP - Performance Comparison
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Returns By Period
In the year-to-date period, SPXE achieves a 9.39% return, which is significantly lower than URSP's 22.76% return.
SPXE
- 1D
- 0.80%
- 1M
- -0.03%
- 6M
- 8.31%
- YTD
- 9.39%
- 1Y
- 20.77%
- 3Y*
- 19.53%
- 5Y*
- 12.39%
- 10Y*
- 15.25%
- ALL TIME*
- 15.37%
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) |
|---|---|---|---|
| $137.44K | $89.66K | $88.41K | |
| $2.68M | $2.91M | $2.10M |
SPXE vs. URSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPXE ProShares S&P 500 Ex-Energy ETF | 9.39% | 6.37% |
URSP ProShares Ultra S&P 500 Equal Weight ETF | 22.76% | 1.59% |
Correlation
The correlation between SPXE 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
SPXE vs. URSP — Risk / Return Rank
SPXE
URSP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPXE vs. URSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Energy ETF (SPXE) 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.
| SPXE | URSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.25 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | — | — |
| Martin ratioReturn relative to average drawdown | 8.02 | — | — |
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Drawdowns
SPXE vs. URSP - Drawdown Comparison
The maximum SPXE drawdown since its inception was -32.27%, which is greater than URSP's maximum drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for SPXE and URSP.
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Drawdown Indicators
| SPXE | URSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.27% | -15.72% | -16.55% |
Max Drawdown (1Y)Largest decline over 1 year | -10.09% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -18.90% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.50% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.27% | — | — |
Current DrawdownCurrent decline from peak | -1.53% | -2.52% | +0.99% |
Average DrawdownAverage peak-to-trough decline | -4.43% | -2.89% | -1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | — | — |
Volatility
SPXE vs. URSP - Volatility Comparison
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Volatility by Period
| SPXE | URSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.73% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 10.56% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.35% | 23.34% | -9.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.02% | 23.34% | -6.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.42% | 23.34% | -5.92% |
SPXE vs. URSP - Expense Ratio Comparison
SPXE has a 0.09% expense ratio, which is lower than URSP's 0.95% expense ratio.
Dividends
SPXE vs. URSP - Dividend Comparison
SPXE's dividend yield for the trailing twelve months is around 0.94%, more than URSP's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPXE ProShares S&P 500 Ex-Energy ETF | 0.94% | 0.99% | 1.09% | 1.29% | 1.49% | 0.94% | 1.16% | 1.38% | 1.61% | 1.65% | 1.53% | 0.51% |
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
SPXE 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, SPXE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXE is cheaper with a 0.09% expense ratio, compared with 0.95% for URSP.
SPXE has the higher dividend yield at 0.94%, compared with 0.91% for URSP.
SPXE is categorized as S&P 500, while URSP is Leveraged Equities. SPXE tracks S&P 500 Ex-Energy Index, while URSP tracks S&P 500 Equal Weight Index. Their fees differ too: 0.09% for SPXE and 0.95% for URSP.
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