UCC vs. FDIS

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra Consumer Services (UCC) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS).

UCC and FDIS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UCC is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Consumer Services Index (200%). It was launched on Jan 30, 2007. FDIS is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Consumer Discretionary Index. It was launched on Oct 21, 2013. Both UCC and FDIS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

UCC vs. FDIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Consumer Services (UCC) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS). The values are adjusted to include any dividend payments, if applicable.

UCC vs. FDIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UCC ProShares Ultra Consumer Services	-18.49%	2.21%	44.24%	61.67%	-57.59%	20.92%	46.55%	53.76%	-4.94%	42.05%
FDIS Fidelity MSCI Consumer Discretionary Index ETF	-8.53%	5.67%	24.43%	40.48%	-35.23%	24.25%	49.50%	27.44%	-0.88%	22.96%

Returns By Period

In the year-to-date period, UCC achieves a -18.49% return, which is significantly lower than FDIS's -8.53% return. Both investments have delivered pretty close results over the past 10 years, with UCC having a 12.29% annualized return and FDIS not far ahead at 12.66%.

UCC

• 1D: 6.18%
• 1M: -13.60%
• YTD: -18.49%
• 6M: -20.58%
• 1Y: 9.89%
• 3Y*: 17.11%
• 5Y*: -1.86%
• 10Y*: 12.29%

FDIS

• 1D: 3.28%
• 1M: -6.32%
• YTD: -8.53%
• 6M: -9.00%
• 1Y: 11.19%
• 3Y*: 13.41%
• 5Y*: 4.73%
• 10Y*: 12.66%

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

UCC vs. FDIS - Expense Ratio Comparison

UCC has a 0.95% expense ratio, which is higher than FDIS's 0.08% expense ratio.

UCC

ProShares Ultra Consumer Services

FDIS

Fidelity MSCI Consumer Discretionary Index ETF

Return for Risk

UCC vs. FDIS — Risk / Return Rank

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

UCC

UCC Risk / Return Rank: 20
UCC Sharpe Ratio Rank: 17
UCC Sortino Ratio Rank: 23
UCC Omega Ratio Rank: 22
UCC Calmar Ratio Rank: 19
UCC Martin Ratio Rank: 20

FDIS

FDIS Risk / Return Rank: 30
FDIS Sharpe Ratio Rank: 28
FDIS Sortino Ratio Rank: 31
FDIS Omega Ratio Rank: 29
FDIS Calmar Ratio Rank: 32
FDIS Martin Ratio Rank: 30

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.

UCC vs. FDIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS). 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.

	UCC	FDIS	Difference
Sharpe ratio Return per unit of total volatility	0.21	0.46	-0.25
Sortino ratio Return per unit of downside risk	0.66	0.86	-0.20
Omega ratio Gain probability vs. loss probability	1.08	1.11	-0.03
Calmar ratio Return relative to maximum drawdown	0.35	0.71	-0.36
Martin ratio Return relative to average drawdown	1.11	2.36	-1.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UCC vs. FDIS - Sharpe Ratio Comparison

The current UCC Sharpe Ratio is 0.21, which is lower than the FDIS Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of UCC and FDIS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UCC	FDIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	0.46	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.20	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.57	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.58	-0.27

Correlation

The correlation between UCC and FDIS is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

UCC vs. FDIS - Dividend Comparison

UCC's dividend yield for the trailing twelve months is around 1.33%, more than FDIS's 0.79% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UCC ProShares Ultra Consumer Services	1.33%	1.10%	0.17%	0.04%	0.25%	0.00%	0.02%	0.17%	0.18%	0.14%	0.21%	0.14%
FDIS Fidelity MSCI Consumer Discretionary Index ETF	0.79%	0.75%	0.69%	0.78%	1.00%	0.58%	0.59%	1.14%	1.29%	1.00%	1.62%	1.25%

Drawdowns

UCC vs. FDIS - Drawdown Comparison

The maximum UCC drawdown since its inception was -83.05%, which is greater than FDIS's maximum drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for UCC and FDIS.

Drawdown Indicators

	UCC	FDIS	Difference
Max Drawdown Largest peak-to-trough decline	-83.05%	-39.16%	-43.89%
Max Drawdown (1Y) Largest decline over 1 year	-29.14%	-15.50%	-13.64%
Max Drawdown (5Y) Largest decline over 5 years	-61.77%	-39.16%	-22.61%
Max Drawdown (10Y) Largest decline over 10 years	-61.77%	-39.16%	-22.61%
Current Drawdown Current decline from peak	-27.22%	-12.73%	-14.49%
Average Drawdown Average peak-to-trough decline	-21.85%	-7.52%	-14.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.32%	4.69%	+4.63%

Volatility

UCC vs. FDIS - Volatility Comparison

ProShares Ultra Consumer Services (UCC) has a higher volatility of 14.63% compared to Fidelity MSCI Consumer Discretionary Index ETF (FDIS) at 7.39%. This indicates that UCC's price experiences larger fluctuations and is considered to be riskier than FDIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCC	FDIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.63%	7.39%	+7.24%
Volatility (6M) Calculated over the trailing 6-month period	27.25%	13.86%	+13.39%
Volatility (1Y) Calculated over the trailing 1-year period	47.31%	24.22%	+23.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.30%	23.82%	+19.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.43%	22.22%	+18.21%