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UMDD vs. URTY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UMDD vs. URTY

Last updated Aug 2, 2026
Documentation

UMDD (ProShares UltraPro MidCap400) and URTY (ProShares UltraPro Russell2000) are both Leveraged Equities funds from ProShares - UMDD tracks the S&P MidCap 400 Index (300%) while URTY tracks the Russell 2000 Index (300%). Both are passively managed. Over the past 10 years, UMDD returned 11.12%/yr vs 6.97%/yr for URTY. Their correlation of 0.94 means they have usually moved in the same direction. Both charge a 0.95% expense ratio.

Performance

UMDD vs. URTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro MidCap400 (UMDD) and ProShares UltraPro Russell2000 (URTY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UMDD achieves a 35.46% return, which is significantly lower than URTY's 48.35% return. Over the past 10 years, UMDD has outperformed URTY with an annualized return of 11.12%, while URTY has yielded a comparatively lower 6.97% annualized return.

UMDD

1D
-0.37%
1M
-3.98%
6M
22.23%
YTD
35.46%
1Y
55.22%
3Y*
16.21%
5Y*
2.85%
10Y*
11.12%
ALL TIME*
19.20%

URTY

1D
-1.52%
1M
-7.31%
6M
28.38%
YTD
48.35%
1Y
107.90%
3Y*
18.70%
5Y*
-4.58%
10Y*
6.97%
ALL TIME*
13.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

UMDD

ProShares UltraPro MidCap400
$334.25K$273.81K$251.01K

URTY

ProShares UltraPro Russell2000
$35.46M$36.95M$69.44M

UMDD vs. URTY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UMDD
ProShares UltraPro MidCap400		35.46%-2.57%19.68%27.21%-49.60%72.27%-17.30%78.90%-40.29%49.17%
URTY
ProShares UltraPro Russell2000		48.35%9.26%7.38%24.43%-62.81%28.47%-7.72%72.37%-39.59%38.85%

Correlation

The correlation between UMDD and URTY is 0.91, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.91

Correlation (3Y)
Balances recent behavior with more history.

0.94

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.95

Correlation (10Y)
Provides a long-term view across more market conditions.

0.94

Correlation (All Time)
Calculated using the full available price history since Feb 11, 2010

0.94

The correlation between UMDD and URTY has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

UMDD vs. URTY - Sectors Allocation Comparison

Sectors
UMDD
URTY

Industrials

25.3%
14.1%

Technology

17.2%
14.8%

Financial Services

13.9%
17.7%

Consumer Cyclical

10.5%
9.2%

Healthcare

9.0%
20.2%

Real Estate

7.2%
6.7%

Basic Materials

4.8%
4.4%

Energy

4.6%
5.4%

Consumer Defensive

3.2%
2.6%

Utilities

2.9%
2.7%

Communication Services

1.5%
2.2%

Industrials

UMDD
25.3%
URTY
14.1%

Technology

UMDD
17.2%
URTY
14.8%

Financial Services

UMDD
13.9%
URTY
17.7%

Consumer Cyclical

UMDD
10.5%
URTY
9.2%

Healthcare

UMDD
9.0%
URTY
20.2%

Real Estate

UMDD
7.2%
URTY
6.7%

Basic Materials

UMDD
4.8%
URTY
4.4%

Energy

UMDD
4.6%
URTY
5.4%

Consumer Defensive

UMDD
3.2%
URTY
2.6%

Utilities

UMDD
2.9%
URTY
2.7%

Communication Services

UMDD
1.5%
URTY
2.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraPro MidCap400

ProShares UltraPro Russell2000

Often compared with UMDD:
UMDD vs. MIDUUMDD vs. SMDDUMDD vs. MVVUMDD vs. SAAUMDD vs. TQQQUMDD vs. MDYUMDD vs. UPRO
Often compared with URTY:
URTY vs. TNAURTY vs. SRTYURTY vs. UWMURTY vs. TQQQURTY vs. SAAURTY vs. UPROURTY vs. JNUG

Return for Risk

UMDD vs. URTY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
UMDD
UMDD Risk / Return Rank: 4747
Overall Rank
UMDD Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
UMDD Sortino Ratio Rank: 4545
Sortino Ratio Rank
UMDD Omega Ratio Rank: 4242
Omega Ratio Rank
UMDD Calmar Ratio Rank: 5353
Calmar Ratio Rank
UMDD Martin Ratio Rank: 5353
Martin Ratio Rank
URTY
URTY Risk / Return Rank: 7272
Overall Rank
URTY Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
URTY Sortino Ratio Rank: 6868
Sortino Ratio Rank
URTY Omega Ratio Rank: 6262
Omega Ratio Rank
URTY Calmar Ratio Rank: 8181
Calmar Ratio Rank
URTY Martin Ratio Rank: 7676
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UMDD vs. URTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro MidCap400 (UMDD) and ProShares UltraPro Russell2000 (URTY). 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.

UMDDURTYDifference
Sharpe ratioReturn per unit of total volatility
1.04
1.64

-0.61

Sortino ratioReturn per unit of downside risk
1.65
2.22

-0.57

Omega ratioGain probability vs. loss probability

1.20

1.26

-0.06

Calmar ratioReturn relative to maximum drawdown

1.88

2.93

-1.05

Martin ratioReturn relative to average drawdown

6.25

9.60

-3.35

UMDD vs. URTY - Sharpe Ratio Comparison

The current UMDD Sharpe Ratio is 1.04, which is lower than the URTY Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of UMDD and URTY, 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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Drawdowns

UMDD vs. URTY - Drawdown Comparison

The maximum UMDD drawdown since its inception was -86.24%, roughly equal to the maximum URTY drawdown of -88.09%. Use the drawdown chart below to compare losses from any high point for UMDD and URTY.

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Drawdown Indicators

UMDDURTYDifference

Max Drawdown

Largest peak-to-trough decline

-86.24%

-88.09%

+1.85%

Max Drawdown (1Y)

Largest decline over 1 year

-26.04%

-32.56%

+6.52%

Max Drawdown (3Y)

Largest decline over 3 years

-60.33%

-65.85%

+5.52%

Max Drawdown (5Y)

Largest decline over 5 years

-64.61%

-82.76%

+18.15%

Max Drawdown (10Y)

Largest decline over 10 years

-86.24%

-88.09%

+1.85%

Current Drawdown

Current decline from peak

-7.97%

-38.93%

+30.96%

Average Drawdown

Average peak-to-trough decline

-23.43%

-34.80%

+11.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.82%

9.92%

-2.10%

Volatility

UMDD vs. URTY - Volatility Comparison

The current volatility for ProShares UltraPro MidCap400 (UMDD) is 10.68%, while ProShares UltraPro Russell2000 (URTY) has a volatility of 11.48%. This indicates that UMDD experiences smaller price fluctuations and is considered to be less risky than URTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UMDDURTYDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.68%

11.48%

-0.80%

Volatility (6M)

Calculated over the trailing 6-month period

35.11%

42.22%

-7.11%

Volatility (1Y)

Calculated over the trailing 1-year period

47.30%

58.06%

-10.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

58.69%

67.30%

-8.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

62.10%

69.25%

-7.15%

UMDD vs. URTY - Expense Ratio Comparison

Both UMDD and URTY have an expense ratio of 0.95%.

Dividends

UMDD vs. URTY - Dividend Comparison

UMDD's dividend yield for the trailing twelve months is around 0.69%, less than URTY's 0.80% yield.

PositionTTM20252024202320222021202020192018201720162015
UMDD
ProShares UltraPro MidCap400		0.69%1.00%0.76%0.19%0.49%0.06%0.08%0.64%0.32%0.00%0.03%0.06%
URTY
ProShares UltraPro Russell2000		0.80%1.02%1.16%0.55%0.28%0.00%0.00%0.18%0.28%0.00%0.03%0.00%

Frequently Asked Questions

With a correlation of 0.91, UMDD and URTY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

URTY has higher volatility (11.48%) compared to UMDD (10.68%). In terms of maximum drawdown, UMDD dropped -86.24% vs URTY's -88.09%.

On 10-year performance, UMDD leads with 11.12% vs 6.97% for URTY. Both ETFs have the same 0.95% expense ratio. On volatility, UMDD has been the lower-risk option at 10.68%. 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 11.12% return vs 6.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

UMDD and URTY have the same expense ratio: 0.95% per year.

URTY has the higher dividend yield at 0.80%, compared with 0.69% for UMDD.

UMDD tracks S&P MidCap 400 Index (300%), while URTY tracks Russell 2000 Index (300%).

URTY currently has the higher Sharpe Ratio (1.64 vs 1.04), 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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