UPAL vs. SHNY
UPAL (ProShares Ultra Palladium K-1 Free ETF) and SHNY (MicroSectors Gold 3X Leveraged ETN) are both Leveraged Commodities funds. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
UPAL vs. SHNY - Performance Comparison
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Returns By Period
UPAL
- 1D
- -8.41%
- 1M
- -16.49%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHNY
- 1D
- -6.17%
- 1M
- -24.80%
- 6M
- -51.80%
- YTD
- -41.77%
- 1Y
- 5.67%
- 3Y*
- 41.47%
- 5Y*
- —
- 10Y*
- —
UPAL vs. SHNY - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
UPAL ProShares Ultra Palladium K-1 Free ETF | -41.23% |
SHNY MicroSectors Gold 3X Leveraged ETN | -48.79% |
Correlation
The correlation between UPAL and SHNY is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026 | 0.65 |
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Return for Risk
UPAL vs. SHNY — Risk / Return Rank
UPAL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHNY
UPAL vs. SHNY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Palladium K-1 Free ETF (UPAL) and MicroSectors Gold 3X Leveraged ETN (SHNY). 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.
| UPAL | SHNY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.09 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.08 | — |
| Martin ratioReturn relative to average drawdown | — | 0.17 | — |
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Drawdowns
UPAL vs. SHNY - Drawdown Comparison
The maximum UPAL drawdown since its inception was -48.54%, smaller than the maximum SHNY drawdown of -69.36%. Use the drawdown chart below to compare losses from any high point for UPAL and SHNY.
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Drawdown Indicators
| UPAL | SHNY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.54% | -69.36% | +20.82% |
Max Drawdown (1Y)Largest decline over 1 year | — | -69.36% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -69.36% | — |
Current DrawdownCurrent decline from peak | -41.23% | -69.36% | +28.13% |
Average DrawdownAverage peak-to-trough decline | -28.11% | -16.61% | -11.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 33.52% | — |
Volatility
UPAL vs. SHNY - Volatility Comparison
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Volatility by Period
| UPAL | SHNY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 19.70% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 73.85% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 80.74% | 82.87% | -2.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.74% | 59.46% | +21.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.74% | 59.46% | +21.28% |
UPAL vs. SHNY - Expense Ratio Comparison
Both UPAL and SHNY have an expense ratio of 0.95%.
Dividends
UPAL vs. SHNY - Dividend Comparison
UPAL's dividend yield for the trailing twelve months is around 0.26%, while SHNY has not paid dividends to shareholders.
| Position | TTM |
|---|---|
SHNY MicroSectors Gold 3X Leveraged ETN | 0.00% |
UPAL ProShares Ultra Palladium K-1 Free ETF | 0.26% |
Frequently Asked Questions
UPAL and SHNY have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
UPAL and SHNY have the same expense ratio: 0.95% per year.
UPAL has the higher dividend yield at 0.26%, compared with 0.00% for SHNY.
They also come from different issuers: ProShares and BMO.
Find the right allocation for UPAL and SHNY
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