UCC vs. UWM
UCC (ProShares Ultra Consumer Services) and UWM (ProShares Ultra Russell2000) are both Leveraged Equities funds from ProShares - UCC tracks the Dow Jones U.S. Consumer Services Index (200%) while UWM tracks the Russell 2000 Index (200%). Both are passively managed. Over the past 10 years, UCC returned 13.77%/yr vs 11.84%/yr for UWM. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
UCC vs. UWM - Performance Comparison
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Returns By Period
In the year-to-date period, UCC achieves a -10.31% return, which is significantly lower than UWM's 28.31% return. Over the past 10 years, UCC has outperformed UWM with an annualized return of 13.77%, while UWM has yielded a comparatively lower 11.84% annualized return.
UCC
- 1D
- 0.47%
- 1M
- -8.32%
- YTD
- -10.31%
- 6M
- -7.92%
- 1Y
- 9.31%
- 3Y*
- 15.68%
- 5Y*
- -0.16%
- 10Y*
- 13.77%
UWM
- 1D
- 1.69%
- 1M
- -0.87%
- YTD
- 28.31%
- 6M
- 23.79%
- 1Y
- 67.60%
- 3Y*
- 22.44%
- 5Y*
- 0.46%
- 10Y*
- 11.84%
UCC vs. UWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UCC ProShares Ultra Consumer Services | -10.31% | 2.21% | 44.24% | 61.67% | -57.59% | 20.92% | 46.55% | 53.76% | -4.94% | 42.05% |
UWM ProShares Ultra Russell2000 | 28.31% | 13.59% | 11.32% | 22.62% | -43.69% | 23.91% | 16.57% | 48.62% | -25.89% | 26.92% |
Correlation
The correlation between UCC and UWM 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 | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2007 | 0.71 |
The correlation between UCC and UWM has been stable across timeframes, ranging from 0.67 to 0.74 - a consistent structural relationship.
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Return for Risk
UCC vs. UWM — Risk / Return Rank
UCC
UWM
UCC vs. UWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) and ProShares Ultra Russell2000 (UWM). 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 | UWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.28 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.32 | 3.05 | -2.73 |
| Martin ratioReturn relative to average drawdown | 0.91 | 10.39 | -9.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UCC | UWM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 1.76 | -1.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | 0.01 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.26 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.14 | +0.18 |
Drawdowns
UCC vs. UWM - Drawdown Comparison
The maximum UCC drawdown since its inception was -83.05%, smaller than the maximum UWM drawdown of -88.21%. Use the drawdown chart below to compare losses from any high point for UCC and UWM.
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Drawdown Indicators
| UCC | UWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.05% | -88.21% | +5.16% |
Max Drawdown (1Y)Largest decline over 1 year | -29.14% | -22.28% | -6.86% |
Max Drawdown (3Y)Largest decline over 3 years | -48.01% | -49.79% | +1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -61.77% | -61.62% | -0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -61.77% | -71.46% | +9.69% |
Current DrawdownCurrent decline from peak | -19.92% | -6.15% | -13.77% |
Average DrawdownAverage peak-to-trough decline | -21.80% | -30.87% | +9.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.25% | 6.52% | +3.73% |
Volatility
UCC vs. UWM - Volatility Comparison
The current volatility for ProShares Ultra Consumer Services (UCC) is 10.52%, while ProShares Ultra Russell2000 (UWM) has a volatility of 13.04%. This indicates that UCC experiences smaller price fluctuations and is considered to be less risky than UWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCC | UWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.52% | 13.04% | -2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 26.62% | 27.80% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.03% | 38.72% | -2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.62% | 45.12% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.65% | 46.14% | -5.49% |
UCC vs. UWM - Expense Ratio Comparison
Both UCC and UWM have an expense ratio of 0.95%.
Dividends
UCC vs. UWM - Dividend Comparison
UCC's dividend yield for the trailing twelve months is around 1.21%, more than UWM's 0.80% 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% |
UWM ProShares Ultra Russell2000 | 0.80% | 1.05% | 1.16% | 0.34% | 0.40% | 0.00% | 0.07% | 0.55% | 0.41% | 0.11% | 0.27% | 0.23% |
Frequently Asked Questions
UCC and UWM 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.
UWM has higher volatility (13.04%) compared to UCC (10.52%). In terms of maximum drawdown, UCC dropped -83.05% vs UWM's -88.21%.
On 10-year performance, UCC leads with 13.77% vs 11.84% for UWM. Both ETFs have the same 0.95% expense ratio. On volatility, UCC has been the lower-risk option at 10.52%. 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 13.77% return vs 11.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCC and UWM have the same expense ratio: 0.95% per year.
UCC has the higher dividend yield at 1.21%, compared with 0.80% for UWM.
UCC tracks Dow Jones U.S. Consumer Services Index (200%), while UWM tracks Russell 2000 Index (200%).
UWM currently has the higher Sharpe Ratio (1.76 vs 0.26), 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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