UMDD vs. FAAR
UMDD (ProShares UltraPro MidCap400) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - UMDD is a Leveraged Equities fund tracking the S&P MidCap 400 Index (300%), while FAAR is a Commodities fund actively managed by First Trust. UMDD is passively managed, while FAAR is actively managed. Over the past 10 years, UMDD returned 13.45%/yr vs 4.79%/yr for FAAR. At a 0.07 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
UMDD vs. FAAR - Performance Comparison
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Returns By Period
In the year-to-date period, UMDD achieves a 42.38% return, which is significantly higher than FAAR's 20.23% return. Over the past 10 years, UMDD has outperformed FAAR with an annualized return of 13.45%, while FAAR has yielded a comparatively lower 4.79% annualized return.
UMDD
- 1D
- 1.32%
- 1M
- 10.37%
- YTD
- 42.38%
- 6M
- 33.72%
- 1Y
- 73.33%
- 3Y*
- 27.16%
- 5Y*
- 4.26%
- 10Y*
- 13.45%
FAAR
- 1D
- -0.05%
- 1M
- -4.34%
- YTD
- 20.23%
- 6M
- 19.92%
- 1Y
- 26.86%
- 3Y*
- 10.91%
- 5Y*
- 7.89%
- 10Y*
- 4.79%
UMDD vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UMDD ProShares UltraPro MidCap400 | 42.38% | -2.57% | 19.68% | 27.21% | -49.60% | 72.27% | -17.30% | 78.90% | -40.29% | 49.17% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 20.23% | 8.07% | 5.97% | -5.63% | 10.15% | 12.34% | 8.60% | -1.28% | -9.17% | 5.00% |
Correlation
The correlation between UMDD and FAAR is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | 0.07 |
The correlation between UMDD and FAAR shifts across timeframes, from -0.06 (1 year) to 0.07 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
UMDD vs. FAAR — Risk / Return Rank
UMDD
FAAR
UMDD vs. FAAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro MidCap400 (UMDD) and First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.
| UMDD | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.35 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.83 | 4.75 | -1.92 |
| Martin ratioReturn relative to average drawdown | 9.47 | 14.70 | -5.23 |
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Drawdowns
UMDD vs. FAAR - Drawdown Comparison
The maximum UMDD drawdown since its inception was -86.24%, which is greater than FAAR's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for UMDD and FAAR.
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Drawdown Indicators
| UMDD | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.24% | -18.03% | -68.21% |
Max Drawdown (1Y)Largest decline over 1 year | -26.04% | -5.68% | -20.36% |
Max Drawdown (3Y)Largest decline over 3 years | -60.33% | -11.54% | -48.79% |
Max Drawdown (5Y)Largest decline over 5 years | -64.61% | -18.03% | -46.58% |
Max Drawdown (10Y)Largest decline over 10 years | -86.24% | -18.03% | -68.21% |
Current DrawdownCurrent decline from peak | -2.49% | -5.43% | +2.94% |
Average DrawdownAverage peak-to-trough decline | -23.55% | -7.82% | -15.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.77% | 1.89% | +5.88% |
Volatility
UMDD vs. FAAR - Volatility Comparison
ProShares UltraPro MidCap400 (UMDD) has a higher volatility of 13.05% compared to First Trust Alternative Absolute Return Strategy ETF (FAAR) at 2.47%. This indicates that UMDD's price experiences larger fluctuations and is considered to be riskier than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UMDD | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.05% | 2.47% | +10.58% |
Volatility (6M)Calculated over the trailing 6-month period | 35.18% | 9.68% | +25.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.50% | 13.37% | +34.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.95% | 12.95% | +46.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.35% | 11.53% | +50.82% |
UMDD vs. FAAR - Expense Ratio Comparison
Both UMDD and FAAR have an expense ratio of 0.95%.
Dividends
UMDD vs. FAAR - Dividend Comparison
UMDD's dividend yield for the trailing twelve months is around 0.74%, less than FAAR's 9.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.57% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% | 0.00% | 0.00% |
UMDD ProShares UltraPro MidCap400 | 0.74% | 1.00% | 0.76% | 0.19% | 0.49% | 0.06% | 0.08% | 0.64% | 0.32% | 0.00% | 0.03% | 0.06% |
Frequently Asked Questions
UMDD and FAAR have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UMDD has higher volatility (13.05%) compared to FAAR (2.47%). In terms of maximum drawdown, UMDD dropped -86.24% vs FAAR's -18.03%.
On 10-year performance, UMDD leads with 13.45% vs 4.79% for FAAR. Both ETFs have the same 0.95% expense ratio. On volatility, FAAR has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UMDD has performed better with a 13.45% return vs 4.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UMDD and FAAR have the same expense ratio: 0.95% per year.
FAAR has the higher dividend yield at 9.57%, compared with 0.74% for UMDD.
UMDD is categorized as Leveraged Equities, while FAAR is Commodities. They also come from different issuers: ProShares and First Trust.
FAAR currently has the higher Sharpe Ratio (2.02 vs 1.55), 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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