UCC vs. FDIS
UCC (ProShares Ultra Consumer Services) and FDIS (Fidelity MSCI Consumer Discretionary Index ETF) are both exchange-traded funds - UCC is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Services Index (200%), while FDIS is a Consumer Discretionary Equities fund tracking the MSCI USA IMI Consumer Discretionary 25/50 Index. Both are passively managed. Over the past 10 years, UCC returned 14.23%/yr vs 13.99%/yr for FDIS. Their correlation of 0.89 suggests significant overlap in exposure. UCC charges 0.95%/yr vs 0.08%/yr for FDIS.
Performance
UCC vs. FDIS - Performance Comparison
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Returns By Period
In the year-to-date period, UCC achieves a -10.76% return, which is significantly lower than FDIS's -1.40% return. Both investments have delivered pretty close results over the past 10 years, with UCC having a 14.23% annualized return and FDIS not far behind at 13.99%.
UCC
- 1D
- -3.37%
- 1M
- -7.19%
- YTD
- -10.76%
- 6M
- -15.05%
- 1Y
- 10.89%
- 3Y*
- 13.60%
- 5Y*
- -1.20%
- 10Y*
- 14.23%
FDIS
- 1D
- -1.74%
- 1M
- -1.89%
- YTD
- -1.40%
- 6M
- -3.81%
- 1Y
- 11.16%
- 3Y*
- 12.93%
- 5Y*
- 5.44%
- 10Y*
- 13.99%
UCC vs. FDIS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UCC ProShares Ultra Consumer Services | -10.76% | 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 | -1.40% | 5.67% | 24.43% | 40.48% | -35.23% | 24.25% | 49.50% | 27.44% | -0.88% | 22.96% |
Correlation
The correlation between UCC and FDIS is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | 0.89 |
The correlation between UCC and FDIS has been stable across timeframes, ranging from 0.89 to 0.99 - a consistent structural relationship.
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Return for Risk
UCC vs. FDIS — Risk / Return Rank
UCC
FDIS
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.
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.
| UCC | FDIS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.11 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 0.72 | -0.35 |
| Martin ratioReturn relative to average drawdown | 1.02 | 2.21 | -1.19 |
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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.
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Drawdown Indicators
| UCC | FDIS | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 (3Y)Largest decline over 3 years | -48.01% | -27.43% | -20.58% |
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 DrawdownCurrent decline from peak | -20.32% | -5.93% | -14.39% |
Average DrawdownAverage peak-to-trough decline | -21.79% | -7.49% | -14.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.66% | 5.05% | +5.61% |
Volatility
UCC vs. FDIS - Volatility Comparison
ProShares Ultra Consumer Services (UCC) has a higher volatility of 13.04% compared to Fidelity MSCI Consumer Discretionary Index ETF (FDIS) at 6.33%. 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.
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Volatility by Period
| UCC | FDIS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.04% | 6.33% | +6.71% |
Volatility (6M)Calculated over the trailing 6-month period | 27.94% | 13.87% | +14.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.01% | 18.76% | +18.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.85% | 23.98% | +19.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 22.36% | +18.41% |
UCC vs. FDIS - Expense Ratio Comparison
UCC has a 0.95% expense ratio, which is higher than FDIS's 0.08% expense ratio.
Dividends
UCC vs. FDIS - Dividend Comparison
UCC's dividend yield for the trailing twelve months is around 1.21%, more than FDIS's 0.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDIS Fidelity MSCI Consumer Discretionary Index ETF | 0.74% | 0.75% | 0.69% | 0.78% | 1.00% | 0.58% | 0.59% | 1.14% | 1.29% | 1.00% | 1.62% | 1.25% |
UCC ProShares Ultra Consumer Services | 1.21% | 1.10% | 0.17% | 0.04% | 0.25% | 0.00% | 0.02% | 0.17% | 0.18% | 0.14% | 0.21% | 0.14% |
Frequently Asked Questions
With a correlation of 0.99, UCC and FDIS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
UCC has higher volatility (13.04%) compared to FDIS (6.33%). In terms of maximum drawdown, UCC dropped -83.05% vs FDIS's -39.16%.
On 10-year performance, UCC leads with 14.23% vs 13.99% for FDIS. On fees, FDIS is cheaper at 0.08% per year. On volatility, FDIS has been the lower-risk option at 6.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UCC has performed better with a 14.23% return vs 13.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDIS is cheaper with a 0.08% expense ratio, compared with 0.95% for UCC.
UCC has the higher dividend yield at 1.21%, compared with 0.74% for FDIS.
UCC is categorized as Leveraged Equities, while FDIS is Consumer Discretionary Equities. UCC tracks Dow Jones U.S. Consumer Services Index (200%), while FDIS tracks MSCI USA IMI Consumer Discretionary 25/50 Index. They also come from different issuers: ProShares and Fidelity. Their fees differ too: 0.95% for UCC and 0.08% for FDIS.
FDIS currently has the higher Sharpe Ratio (0.60 vs 0.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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