UCC vs. RWJ
UCC (ProShares Ultra Consumer Services) and RWJ (Invesco S&P SmallCap 600 Revenue ETF) are both exchange-traded funds - UCC is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Services Index (200%), while RWJ is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Revenue-Weighted Index. Both are passively managed. Over the past 10 years, UCC returned 13.99%/yr vs 13.64%/yr for RWJ. A 0.66 correlation means they provide meaningful diversification when combined. UCC charges 0.95%/yr vs 0.39%/yr for RWJ.
Performance
UCC vs. RWJ - Performance Comparison
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Returns By Period
In the year-to-date period, UCC achieves a -8.62% return, which is significantly lower than RWJ's 21.05% return. Both investments have delivered pretty close results over the past 10 years, with UCC having a 13.99% annualized return and RWJ not far behind at 13.64%.
UCC
- 1D
- 0.57%
- 1M
- -4.37%
- YTD
- -8.62%
- 6M
- -10.29%
- 1Y
- 12.48%
- 3Y*
- 14.37%
- 5Y*
- -0.24%
- 10Y*
- 13.99%
RWJ
- 1D
- 1.08%
- 1M
- 7.83%
- YTD
- 21.05%
- 6M
- 17.99%
- 1Y
- 42.98%
- 3Y*
- 17.13%
- 5Y*
- 8.52%
- 10Y*
- 13.64%
UCC vs. RWJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UCC ProShares Ultra Consumer Services | -8.62% | 2.21% | 44.24% | 61.67% | -57.59% | 20.92% | 46.55% | 53.76% | -4.94% | 42.05% |
RWJ Invesco S&P SmallCap 600 Revenue ETF | 21.05% | 7.75% | 11.81% | 16.21% | -10.97% | 52.82% | 20.83% | 20.29% | -16.95% | 5.30% |
Correlation
The correlation between UCC and RWJ is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2008 | 0.66 |
The correlation between UCC and RWJ has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.
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Return for Risk
UCC vs. RWJ — Risk / Return Rank
UCC
RWJ
UCC vs. RWJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) and Invesco S&P SmallCap 600 Revenue ETF (RWJ). 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 | RWJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.35 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 3.56 | -3.21 |
| Martin ratioReturn relative to average drawdown | 0.97 | 11.43 | -10.46 |
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Drawdowns
UCC vs. RWJ - Drawdown Comparison
The maximum UCC drawdown since its inception was -83.05%, which is greater than RWJ's maximum drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for UCC and RWJ.
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Drawdown Indicators
| UCC | RWJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.05% | -55.97% | -27.08% |
Max Drawdown (1Y)Largest decline over 1 year | -29.14% | -11.31% | -17.83% |
Max Drawdown (3Y)Largest decline over 3 years | -48.01% | -29.29% | -18.72% |
Max Drawdown (5Y)Largest decline over 5 years | -61.77% | -29.29% | -32.48% |
Max Drawdown (10Y)Largest decline over 10 years | -61.77% | -51.33% | -10.44% |
Current DrawdownCurrent decline from peak | -18.41% | 0.00% | -18.41% |
Average DrawdownAverage peak-to-trough decline | -21.80% | -9.22% | -12.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.45% | 3.52% | +6.93% |
Volatility
UCC vs. RWJ - Volatility Comparison
ProShares Ultra Consumer Services (UCC) has a higher volatility of 12.41% compared to Invesco S&P SmallCap 600 Revenue ETF (RWJ) at 4.67%. This indicates that UCC's price experiences larger fluctuations and is considered to be riskier than RWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCC | RWJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.41% | 4.67% | +7.74% |
Volatility (6M)Calculated over the trailing 6-month period | 27.05% | 12.46% | +14.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.41% | 19.48% | +16.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.70% | 23.71% | +19.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.68% | 26.14% | +14.54% |
UCC vs. RWJ - Expense Ratio Comparison
UCC has a 0.95% expense ratio, which is higher than RWJ's 0.39% expense ratio.
Dividends
UCC vs. RWJ - Dividend Comparison
UCC's dividend yield for the trailing twelve months is around 1.18%, more than RWJ's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RWJ Invesco S&P SmallCap 600 Revenue ETF | 0.97% | 1.11% | 1.15% | 1.34% | 1.02% | 0.61% | 0.89% | 1.22% | 1.44% | 1.11% | 0.60% | 0.74% |
UCC ProShares Ultra Consumer Services | 1.18% | 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
UCC and RWJ have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCC has higher volatility (12.41%) compared to RWJ (4.67%). In terms of maximum drawdown, UCC dropped -83.05% vs RWJ's -55.97%.
On 10-year performance, UCC leads with 13.99% vs 13.64% for RWJ. On fees, RWJ is cheaper at 0.39% per year. On volatility, RWJ has been the lower-risk option at 4.67%. 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 13.99% return vs 13.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RWJ is cheaper with a 0.39% expense ratio, compared with 0.95% for UCC.
UCC has the higher dividend yield at 1.18%, compared with 0.97% for RWJ.
UCC is categorized as Leveraged Equities, while RWJ is Small Cap Value Equities. UCC tracks Dow Jones U.S. Consumer Services Index (200%), while RWJ tracks S&P SmallCap 600 Revenue-Weighted Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for UCC and 0.39% for RWJ.
RWJ currently has the higher Sharpe Ratio (2.07 vs 0.28), 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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