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UGL vs. XLV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UGL vs. XLV

Last updated Jun 7, 2026

UGL (ProShares Ultra Gold) and XLV (State Street Health Care Select Sector SPDR ETF) are both exchange-traded funds - UGL is a Leveraged Commodities fund tracking the Bloomberg Gold Subindex (200%), while XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index. Both are passively managed. Over the past 10 years, UGL returned 17.75%/yr vs 9.61%/yr for XLV. At a 0.04 correlation, their price movements are largely independent. UGL charges 0.95%/yr vs 0.08%/yr for XLV.

Performance

UGL vs. XLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Gold (UGL) and State Street Health Care Select Sector SPDR ETF (XLV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UGL achieves a -7.82% return, which is significantly lower than XLV's -0.75% return. Over the past 10 years, UGL has outperformed XLV with an annualized return of 17.75%, while XLV has yielded a comparatively lower 9.61% annualized return.

UGL

1D
-7.30%
1M
-17.17%
YTD
-7.82%
6M
-3.83%
1Y
46.42%
3Y*
49.47%
5Y*
25.50%
10Y*
17.75%

XLV

1D
0.61%
1M
6.63%
YTD
-0.75%
6M
0.67%
1Y
15.89%
3Y*
7.44%
5Y*
6.32%
10Y*
9.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UGL vs. XLV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UGL
ProShares Ultra Gold		-7.82%137.57%46.36%15.56%-7.59%-12.30%39.04%31.11%-8.02%22.50%
XLV
State Street Health Care Select Sector SPDR ETF		-0.75%14.50%2.47%2.07%-2.08%26.04%13.30%20.45%6.28%21.77%

Correlation

The correlation between UGL and XLV is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (5Y)
Calculated over the trailing 5-year period

0.11

Correlation (10Y)
Calculated over the trailing 10-year period

0.06

Correlation (All Time)
Calculated using the full available price history since Dec 4, 2008

0.04

The correlation between UGL and XLV shifts across timeframes, from 0.04 (all time) to 0.16 (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.

ProShares Ultra Gold

State Street Health Care Select Sector SPDR ETF

Often compared with UGL:
UGL vs. GLDUGL vs. NUGTUGL vs. DGPUGL vs. GLLUGL vs. GDXUGL vs. GLDMUGL vs. JNUG
Often compared with XLV:
XLV vs. VHTXLV vs. SPYXLV vs. XLFXLV vs. IXJXLV vs. VOOXLV vs. FHLCXLV vs. IHI

Return for Risk

UGL vs. XLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UGL
UGL Risk / Return Rank: 2424
Overall Rank
UGL Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
UGL Sortino Ratio Rank: 2424
Sortino Ratio Rank
UGL Omega Ratio Rank: 2828
Omega Ratio Rank
UGL Calmar Ratio Rank: 2323
Calmar Ratio Rank
UGL Martin Ratio Rank: 2121
Martin Ratio Rank
XLV
XLV Risk / Return Rank: 3232
Overall Rank
XLV Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
XLV Sortino Ratio Rank: 3535
Sortino Ratio Rank
XLV Omega Ratio Rank: 3131
Omega Ratio Rank
XLV Calmar Ratio Rank: 3434
Calmar Ratio Rank
XLV Martin Ratio Rank: 2828
Martin Ratio Rank
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.

UGL vs. XLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Gold (UGL) and State Street Health Care Select Sector SPDR ETF (XLV). 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.

UGLXLVDifference
Sharpe ratioReturn per unit of total volatility
0.80
1.14

-0.34

Sortino ratioReturn per unit of downside risk
1.26
1.80

-0.55

Omega ratioGain probability vs. loss probability

1.19

1.20

-0.02

Calmar ratioReturn relative to maximum drawdown

1.06

1.63

-0.57

Martin ratioReturn relative to average drawdown

2.56

3.92

-1.37

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UGL vs. XLV - Sharpe Ratio Comparison

The current UGL Sharpe Ratio is 0.80, which is comparable to the XLV Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of UGL and XLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

UGLXLVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.80

1.14

-0.34

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.70

0.43

+0.28

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.58

-0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.38

0.46

-0.09

Drawdowns

UGL vs. XLV - Drawdown Comparison

The maximum UGL drawdown since its inception was -75.93%, which is greater than XLV's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for UGL and XLV.

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Drawdown Indicators

UGLXLVDifference

Max Drawdown

Largest peak-to-trough decline

-75.93%

-39.17%

-36.76%

Max Drawdown (1Y)

Largest decline over 1 year

-40.22%

-10.47%

-29.75%

Max Drawdown (3Y)

Largest decline over 3 years

-40.22%

-17.11%

-23.11%

Max Drawdown (5Y)

Largest decline over 5 years

-40.23%

-17.11%

-23.12%

Max Drawdown (10Y)

Largest decline over 10 years

-46.23%

-28.40%

-17.83%

Current Drawdown

Current decline from peak

-40.22%

-4.10%

-36.12%

Average Drawdown

Average peak-to-trough decline

-43.63%

-7.12%

-36.51%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.70%

4.34%

+12.36%

Volatility

UGL vs. XLV - Volatility Comparison

ProShares Ultra Gold (UGL) has a higher volatility of 11.42% compared to State Street Health Care Select Sector SPDR ETF (XLV) at 5.05%. This indicates that UGL's price experiences larger fluctuations and is considered to be riskier than XLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UGLXLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.42%

5.05%

+6.37%

Volatility (6M)

Calculated over the trailing 6-month period

47.43%

10.68%

+36.75%

Volatility (1Y)

Calculated over the trailing 1-year period

53.42%

14.98%

+38.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.32%

14.75%

+21.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.42%

16.57%

+15.85%

UGL vs. XLV - Expense Ratio Comparison

UGL has a 0.95% expense ratio, which is higher than XLV's 0.08% expense ratio.

Dividends

UGL vs. XLV - Dividend Comparison

UGL has not paid dividends to shareholders, while XLV's dividend yield for the trailing twelve months is around 1.64%.

PositionTTM20252024202320222021202020192018201720162015
UGL
ProShares Ultra Gold		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XLV
State Street Health Care Select Sector SPDR ETF		1.64%1.60%1.67%1.59%1.47%1.33%1.49%2.17%1.57%1.47%1.60%1.43%

Frequently Asked Questions

UGL and XLV have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UGL has higher volatility (11.42%) compared to XLV (5.05%). In terms of maximum drawdown, UGL dropped -75.93% vs XLV's -39.17%.

On 10-year performance, UGL leads with 17.75% vs 9.61% for XLV. On fees, XLV is cheaper at 0.08% per year. On volatility, XLV has been the lower-risk option at 5.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UGL has performed better with a 17.75% return vs 9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLV is cheaper with a 0.08% expense ratio, compared with 0.95% for UGL.

XLV has the higher dividend yield at 1.64%, compared with 0.00% for UGL.

UGL is categorized as Leveraged Commodities, while XLV is Health & Biotech Equities. UGL tracks Bloomberg Gold Subindex (200%), while XLV tracks Health Care Select Sector Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for UGL and 0.08% for XLV.

XLV currently has the higher Sharpe Ratio (1.14 vs 0.80), 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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