UDOW vs. BEG

Last updated Jun 24, 2026

UDOW (ProShares UltraPro Dow30) and BEG (Leverage Shares 2X Long BE Daily ETF) are both Leveraged Equities funds. UDOW is passively managed, while BEG is actively managed. At a 0.32 correlation, their price movements are largely independent. UDOW charges 0.95%/yr vs 0.75%/yr for BEG.

Performance

UDOW vs. BEG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Dow30 (UDOW) and Leverage Shares 2X Long BE Daily ETF (BEG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UDOW achieves a 17.55% return, which is significantly lower than BEG's 658.88% return.

UDOW

• 1D: -0.35%
• 1M: 5.73%
• YTD: 17.55%
• 6M: 14.69%
• 1Y: 60.59%
• 3Y*: 35.49%
• 5Y*: 14.94%
• 10Y*: 24.78%

BEG

• 1D: -13.66%
• 1M: 4.00%
• YTD: 658.88%
• 6M: 577.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UDOW vs. BEG - Yearly Performance Comparison

	2026 (YTD)	2025
UDOW ProShares UltraPro Dow30	17.55%	-2.68%
BEG Leverage Shares 2X Long BE Daily ETF	658.88%	1.77%

Correlation

The correlation between UDOW and BEG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025	0.32

Return for Risk

UDOW vs. BEG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UDOW

UDOW Risk / Return Rank: 47
UDOW Sharpe Ratio Rank: 49
UDOW Sortino Ratio Rank: 47
UDOW Omega Ratio Rank: 44
UDOW Calmar Ratio Rank: 46
UDOW Martin Ratio Rank: 48

BEG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UDOW vs. BEG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Dow30 (UDOW) and Leverage Shares 2X Long BE Daily ETF (BEG). 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.

	UDOW	BEG	Difference
Sharpe ratio: Return per unit of total volatility	1.65	—	—
Sortino ratio: Return per unit of downside risk	2.26	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.17	—	—
Martin ratio: Return relative to average drawdown	7.68	—	—

Drawdowns

UDOW vs. BEG - Drawdown Comparison

The maximum UDOW drawdown since its inception was -80.29%, which is greater than BEG's maximum drawdown of -59.85%. Use the drawdown chart below to compare losses from any high point for UDOW and BEG.

Drawdown Indicators

	UDOW	BEG	Difference
Max Drawdown Largest peak-to-trough decline	-80.29%	-59.85%	-20.44%
Max Drawdown (1Y) Largest decline over 1 year	-28.07%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-44.83%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-55.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-80.29%	—	—
Current Drawdown Current decline from peak	-2.25%	-13.66%	+11.41%
Average Drawdown Average peak-to-trough decline	-14.35%	-16.74%	+2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.91%	—	—

Volatility

Volatility by Period

	UDOW	BEG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	29.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	37.10%	212.91%	-175.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.33%	212.91%	-168.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.76%	212.91%	-161.15%

UDOW vs. BEG - Expense Ratio Comparison

UDOW has a 0.95% expense ratio, which is higher than BEG's 0.75% expense ratio.

Dividends

UDOW vs. BEG - Dividend Comparison

UDOW's dividend yield for the trailing twelve months is around 1.15%, while BEG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BEG Leverage Shares 2X Long BE Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UDOW ProShares UltraPro Dow30	1.15%	1.38%	0.95%	0.95%	0.83%	0.26%	0.19%	0.61%	0.73%	0.13%	0.26%	0.21%

Frequently Asked Questions

Can I hold both UDOW and BEG in my portfolio?

UDOW and BEG have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UDOW or BEG?

On fees, BEG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UDOW or BEG?

BEG is cheaper with a 0.75% expense ratio, compared with 0.95% for UDOW.

Which ETF pays a higher dividend yield, UDOW or BEG?

UDOW has the higher dividend yield at 1.15%, compared with 0.00% for BEG.

What is the main difference between UDOW and BEG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for UDOW and 0.75% for BEG.