SPYM vs. URSP
SPYM (State Street SPDR Portfolio S&P 500 ETF) and URSP (ProShares Ultra S&P 500 Equal Weight ETF) are both exchange-traded funds - SPYM is a S&P 500 fund tracking the S&P 500 Index, while URSP is a Leveraged Equities fund tracking the S&P 500 Equal Weight Index. Both are passively managed. Their 0.66 correlation means they have sometimes moved together and sometimes differently. SPYM charges 0.02%/yr vs 0.95%/yr for URSP.
Performance
SPYM vs. URSP - Performance Comparison
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Returns By Period
In the year-to-date period, SPYM achieves a 10.15% return, which is significantly lower than URSP's 22.76% return.
SPYM
- 1D
- 0.68%
- 1M
- 0.26%
- 6M
- 8.55%
- YTD
- 10.15%
- 1Y
- 21.52%
- 3Y*
- 19.39%
- 5Y*
- 12.82%
- 10Y*
- 15.15%
- ALL TIME*
- 11.17%
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) |
|---|---|---|---|
| $811.10M | $977.30M | $1.09B | |
| $2.68M | $2.91M | $2.10M |
SPYM vs. URSP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPYM State Street SPDR Portfolio S&P 500 ETF | 10.15% | 6.31% |
URSP ProShares Ultra S&P 500 Equal Weight ETF | 22.76% | 1.59% |
Correlation
The correlation between SPYM and URSP is 0.66, 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 | 0.66 |
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Return for Risk
SPYM vs. URSP — Risk / Return Rank
SPYM
URSP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPYM vs. URSP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 ETF (SPYM) 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.
| SPYM | URSP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.28 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | — | — |
| Martin ratioReturn relative to average drawdown | 9.43 | — | — |
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Drawdowns
SPYM vs. URSP - Drawdown Comparison
The maximum SPYM drawdown since its inception was -54.46%, which is greater than URSP's maximum drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for SPYM and URSP.
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Drawdown Indicators
| SPYM | URSP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.46% | -15.72% | -38.74% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -18.72% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.87% | — | — |
Current DrawdownCurrent decline from peak | -1.41% | -2.52% | +1.11% |
Average DrawdownAverage peak-to-trough decline | -7.11% | -2.89% | -4.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | — | — |
Volatility
SPYM vs. URSP - Volatility Comparison
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Volatility by Period
| SPYM | URSP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 12.83% | 23.34% | -10.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 23.34% | -6.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.01% | 23.34% | -5.33% |
SPYM vs. URSP - Expense Ratio Comparison
SPYM has a 0.02% expense ratio, which is lower than URSP's 0.95% expense ratio.
Dividends
SPYM vs. URSP - Dividend Comparison
SPYM's dividend yield for the trailing twelve months is around 1.03%, more than URSP's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPYM State Street SPDR Portfolio S&P 500 ETF | 1.03% | 1.13% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% |
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
SPYM and URSP have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYM is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYM is cheaper with a 0.02% expense ratio, compared with 0.95% for URSP.
SPYM has the higher dividend yield at 1.03%, compared with 0.91% for URSP.
SPYM is categorized as S&P 500, while URSP is Leveraged Equities. SPYM tracks S&P 500 Index, while URSP tracks S&P 500 Equal Weight Index. They also come from different issuers: State Street and ProShares. Their fees differ too: 0.02% for SPYM and 0.95% for URSP.
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