UCC vs. UPRO
UCC (ProShares Ultra Consumer Services) and UPRO (ProShares UltraPro S&P 500) are both Leveraged Equities funds from ProShares - UCC tracks the Dow Jones U.S. Consumer Services Index (200%) while UPRO tracks the S&P 500. Both are passively managed. Over the past 10 years, UCC returned 14.23%/yr vs 30.75%/yr for UPRO. A 0.78 correlation means they provide meaningful diversification when combined. UCC charges 0.95%/yr vs 0.89%/yr for UPRO.
Performance
UCC vs. UPRO - 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 UPRO's 22.44% return. Over the past 10 years, UCC has underperformed UPRO with an annualized return of 14.23%, while UPRO has yielded a comparatively higher 30.75% annualized return.
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%
UPRO
- 1D
- -0.97%
- 1M
- -1.16%
- YTD
- 22.44%
- 6M
- 20.56%
- 1Y
- 74.57%
- 3Y*
- 48.38%
- 5Y*
- 21.85%
- 10Y*
- 30.75%
UCC vs. UPRO - 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% |
UPRO ProShares UltraPro S&P 500 | 22.44% | 31.88% | 63.57% | 68.53% | -56.84% | 98.64% | 10.09% | 102.30% | -25.11% | 71.37% |
Correlation
The correlation between UCC and UPRO is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2009 | 0.78 |
The correlation between UCC and UPRO has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.
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Return for Risk
UCC vs. UPRO — Risk / Return Rank
UCC
UPRO
UCC vs. UPRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) and ProShares UltraPro S&P 500 (UPRO). 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 | UPRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.33 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 2.80 | -2.42 |
| Martin ratioReturn relative to average drawdown | 1.02 | 11.45 | -10.43 |
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Drawdowns
UCC vs. UPRO - Drawdown Comparison
The maximum UCC drawdown since its inception was -83.05%, which is greater than UPRO's maximum drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for UCC and UPRO.
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Drawdown Indicators
| UCC | UPRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.05% | -76.82% | -6.23% |
Max Drawdown (1Y)Largest decline over 1 year | -29.14% | -26.78% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -48.01% | -48.87% | +0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -61.77% | -63.94% | +2.17% |
Max Drawdown (10Y)Largest decline over 10 years | -61.77% | -76.82% | +15.05% |
Current DrawdownCurrent decline from peak | -20.32% | -6.26% | -14.06% |
Average DrawdownAverage peak-to-trough decline | -21.79% | -14.39% | -7.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.66% | 6.53% | +4.13% |
Volatility
UCC vs. UPRO - Volatility Comparison
The current volatility for ProShares Ultra Consumer Services (UCC) is 13.04%, while ProShares UltraPro S&P 500 (UPRO) has a volatility of 14.03%. This indicates that UCC experiences smaller price fluctuations and is considered to be less risky than UPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCC | UPRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.04% | 14.03% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 27.94% | 29.21% | -1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.01% | 37.15% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.85% | 50.59% | -6.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 53.89% | -13.12% |
UCC vs. UPRO - Expense Ratio Comparison
UCC has a 0.95% expense ratio, which is higher than UPRO's 0.89% expense ratio.
Dividends
UCC vs. UPRO - Dividend Comparison
UCC's dividend yield for the trailing twelve months is around 1.21%, more than UPRO's 0.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
UPRO ProShares UltraPro S&P 500 | 0.71% | 0.84% | 0.93% | 0.74% | 0.52% | 0.06% | 0.11% | 0.41% | 0.63% | 0.00% | 0.12% | 0.34% |
Frequently Asked Questions
UCC and UPRO have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UPRO has higher volatility (14.03%) compared to UCC (13.04%). In terms of maximum drawdown, UCC dropped -83.05% vs UPRO's -76.82%.
On 10-year performance, UPRO leads with 30.75% vs 14.23% for UCC. On fees, UPRO is cheaper at 0.89% per year. On volatility, UCC has been the lower-risk option at 13.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UPRO has performed better with a 30.75% return vs 14.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UPRO is cheaper with a 0.89% expense ratio, compared with 0.95% for UCC.
UCC has the higher dividend yield at 1.21%, compared with 0.71% for UPRO.
UCC tracks Dow Jones U.S. Consumer Services Index (200%), while UPRO tracks S&P 500. Their fees differ too: 0.95% for UCC and 0.89% for UPRO.
UPRO currently has the higher Sharpe Ratio (2.02 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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