UMDD vs. SPYM

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraPro MidCap400 (UMDD) and State Street SPDR Portfolio S&P 500 ETF (SPYM).

UMDD and SPYM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UMDD is a passively managed fund by ProShares that tracks the performance of the S&P MidCap 400 Index (300%). It was launched on Feb 9, 2010. SPYM is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Nov 8, 2005. Both UMDD and SPYM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

UMDD vs. SPYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro MidCap400 (UMDD) and State Street SPDR Portfolio S&P 500 ETF (SPYM). The values are adjusted to include any dividend payments, if applicable.

UMDD vs. SPYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMDD ProShares UltraPro MidCap400	5.14%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	49.17%
SPYM State Street SPDR Portfolio S&P 500 ETF	-3.63%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	31.99%	-4.78%	21.30%

Returns By Period

In the year-to-date period, UMDD achieves a 5.14% return, which is significantly higher than SPYM's -3.63% return. Over the past 10 years, UMDD has underperformed SPYM with an annualized return of 10.04%, while SPYM has yielded a comparatively higher 14.21% annualized return.

UMDD

• 1D: 2.82%
• 1M: -17.06%
• YTD: 5.14%
• 6M: 4.81%
• 1Y: 28.13%
• 3Y*: 13.87%
• 5Y*: -1.48%
• 10Y*: 10.04%

SPYM

• 1D: 0.76%
• 1M: -4.28%
• YTD: -3.63%
• 6M: -1.39%
• 1Y: 18.21%
• 3Y*: 18.57%
• 5Y*: 11.94%
• 10Y*: 14.21%

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

UMDD vs. SPYM - Expense Ratio Comparison

UMDD has a 0.95% expense ratio, which is higher than SPYM's 0.02% expense ratio.

UMDD

ProShares UltraPro MidCap400

SPYM

State Street SPDR Portfolio S&P 500 ETF

Return for Risk

UMDD vs. SPYM — Risk / Return Rank

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

UMDD

UMDD Risk / Return Rank: 30
UMDD Sharpe Ratio Rank: 24
UMDD Sortino Ratio Rank: 34
UMDD Omega Ratio Rank: 33
UMDD Calmar Ratio Rank: 30
UMDD Martin Ratio Rank: 31

SPYM

SPYM Risk / Return Rank: 60
SPYM Sharpe Ratio Rank: 54
SPYM Sortino Ratio Rank: 57
SPYM Omega Ratio Rank: 61
SPYM Calmar Ratio Rank: 59
SPYM Martin Ratio Rank: 69

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.

UMDD vs. SPYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro MidCap400 (UMDD) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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.

	UMDD	SPYM	Difference
Sharpe ratio Return per unit of total volatility	0.45	1.00	-0.56
Sortino ratio Return per unit of downside risk	1.05	1.53	-0.47
Omega ratio Gain probability vs. loss probability	1.14	1.23	-0.09
Calmar ratio Return relative to maximum drawdown	0.79	1.55	-0.76
Martin ratio Return relative to average drawdown	2.84	7.32	-4.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMDD vs. SPYM - Sharpe Ratio Comparison

The current UMDD Sharpe Ratio is 0.45, which is lower than the SPYM Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of UMDD and SPYM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UMDD	SPYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.45	1.00	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.71	-0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.79	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.58	-0.29

Correlation

The correlation between UMDD and SPYM is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

UMDD vs. SPYM - Dividend Comparison

UMDD's dividend yield for the trailing twelve months is around 1.00%, less than SPYM's 1.15% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UMDD ProShares UltraPro MidCap400	1.00%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.15%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Drawdowns

UMDD vs. SPYM - Drawdown Comparison

The maximum UMDD drawdown since its inception was -86.24%, which is greater than SPYM's maximum drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for UMDD and SPYM.

Drawdown Indicators

	UMDD	SPYM	Difference
Max Drawdown Largest peak-to-trough decline	-86.24%	-54.46%	-31.78%
Max Drawdown (1Y) Largest decline over 1 year	-38.30%	-12.02%	-26.28%
Max Drawdown (5Y) Largest decline over 5 years	-64.61%	-24.48%	-40.13%
Max Drawdown (10Y) Largest decline over 10 years	-86.24%	-33.87%	-52.37%
Current Drawdown Current decline from peak	-27.99%	-5.54%	-22.45%
Average Drawdown Average peak-to-trough decline	-23.71%	-7.21%	-16.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.66%	2.55%	+8.11%

Volatility

UMDD vs. SPYM - Volatility Comparison

ProShares UltraPro MidCap400 (UMDD) has a higher volatility of 19.56% compared to State Street SPDR Portfolio S&P 500 ETF (SPYM) at 5.33%. This indicates that UMDD's price experiences larger fluctuations and is considered to be riskier than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMDD	SPYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.56%	5.33%	+14.23%
Volatility (6M) Calculated over the trailing 6-month period	36.08%	9.48%	+26.60%
Volatility (1Y) Calculated over the trailing 1-year period	63.30%	18.25%	+45.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.88%	16.81%	+42.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.19%	17.99%	+44.20%