UCC vs. ULE
UCC (ProShares Ultra Consumer Services) and ULE (ProShares Ultra Euro) are both exchange-traded funds - UCC is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Services Index (200%), while ULE is a Leveraged Currency fund tracking the USD/EUR Exchange Rate (-200%). Both are passively managed. Over the past 10 years, UCC returned 13.99%/yr vs -2.46%/yr for ULE. At a 0.18 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
UCC vs. ULE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, UCC achieves a -8.62% return, which is significantly lower than ULE's -3.77% return. Over the past 10 years, UCC has outperformed ULE with an annualized return of 13.99%, while ULE has yielded a comparatively lower -2.46% annualized return.
UCC
- 1D
- 0.57%
- 1M
- -4.21%
- YTD
- -8.62%
- 6M
- -10.29%
- 1Y
- 10.10%
- 3Y*
- 14.37%
- 5Y*
- -0.24%
- 10Y*
- 13.99%
ULE
- 1D
- 0.24%
- 1M
- -2.67%
- YTD
- -3.77%
- 6M
- -3.85%
- 1Y
- -2.21%
- 3Y*
- 3.78%
- 5Y*
- -3.70%
- 10Y*
- -2.46%
UCC vs. ULE - 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% |
ULE ProShares Ultra Euro | -3.77% | 25.97% | -11.73% | 5.08% | -15.51% | -15.66% | 14.74% | -8.90% | -13.40% | 23.92% |
Correlation
The correlation between UCC and ULE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | 0.18 |
The correlation between UCC and ULE shifts across timeframes, from 0.16 (10 years) to 0.28 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UCC vs. ULE — Risk / Return Rank
UCC
ULE
UCC vs. ULE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) and ProShares Ultra Euro (ULE). 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 | ULE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.98 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | -0.21 | +0.56 |
| Martin ratioReturn relative to average drawdown | 0.97 | -0.44 | +1.41 |
Loading charts...
Drawdowns
UCC vs. ULE - Drawdown Comparison
The maximum UCC drawdown since its inception was -83.05%, which is greater than ULE's maximum drawdown of -72.74%. Use the drawdown chart below to compare losses from any high point for UCC and ULE.
Loading charts...
Drawdown Indicators
| UCC | ULE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.05% | -72.74% | -10.31% |
Max Drawdown (1Y)Largest decline over 1 year | -29.14% | -10.40% | -18.74% |
Max Drawdown (3Y)Largest decline over 3 years | -48.01% | -17.44% | -30.57% |
Max Drawdown (5Y)Largest decline over 5 years | -61.77% | -40.32% | -21.45% |
Max Drawdown (10Y)Largest decline over 10 years | -61.77% | -51.30% | -10.47% |
Current DrawdownCurrent decline from peak | -18.41% | -62.43% | +44.02% |
Average DrawdownAverage peak-to-trough decline | -21.80% | -46.08% | +24.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.45% | 4.99% | +5.46% |
Volatility
UCC vs. ULE - Volatility Comparison
ProShares Ultra Consumer Services (UCC) has a higher volatility of 12.41% compared to ProShares Ultra Euro (ULE) at 2.37%. This indicates that UCC's price experiences larger fluctuations and is considered to be riskier than ULE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UCC | ULE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.41% | 2.37% | +10.04% |
Volatility (6M)Calculated over the trailing 6-month period | 27.05% | 8.83% | +18.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.41% | 13.28% | +23.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.70% | 16.12% | +27.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.68% | 15.21% | +25.47% |
UCC vs. ULE - Expense Ratio Comparison
Both UCC and ULE have an expense ratio of 0.95%.
Dividends
UCC vs. ULE - Dividend Comparison
UCC's dividend yield for the trailing twelve months is around 1.18%, while ULE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ULE ProShares Ultra Euro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UCC and ULE have a correlation of 0.28, 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 ULE (2.37%). In terms of maximum drawdown, UCC dropped -83.05% vs ULE's -72.74%.
On 10-year performance, UCC leads with 13.99% vs -2.46% for ULE. Both ETFs have the same 0.95% expense ratio. On volatility, ULE has been the lower-risk option at 2.37%. 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 -2.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCC and ULE have the same expense ratio: 0.95% per year.
UCC has the higher dividend yield at 1.18%, compared with 0.00% for ULE.
UCC is categorized as Leveraged Equities, while ULE is Leveraged Currency. UCC tracks Dow Jones U.S. Consumer Services Index (200%), while ULE tracks USD/EUR Exchange Rate (-200%).
UCC currently has the higher Sharpe Ratio (0.28 vs -0.17), 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.
Find the right allocation for UCC and ULE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer