UPLT vs. UGL
UPLT (ProShares Ultra Platinum K-1 Free ETF) and UGL (ProShares Ultra Gold) are both Leveraged Commodities funds from ProShares. UPLT is actively managed, while UGL is passively managed. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.
Performance
UPLT vs. UGL - Performance Comparison
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Returns By Period
UPLT
- 1D
- -6.79%
- 1M
- -22.17%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UGL
- 1D
- -3.84%
- 1M
- -16.64%
- 6M
- -32.04%
- YTD
- -22.93%
- 1Y
- 20.84%
- 3Y*
- 41.67%
- 5Y*
- 23.41%
- 10Y*
- 14.19%
UPLT vs. UGL - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
UPLT ProShares Ultra Platinum K-1 Free ETF | -44.75% |
UGL ProShares Ultra Gold | -33.72% |
Correlation
The correlation between UPLT and UGL is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026 | 0.81 |
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Return for Risk
UPLT vs. UGL — Risk / Return Rank
UPLT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UGL
UPLT vs. UGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Platinum K-1 Free ETF (UPLT) and ProShares Ultra Gold (UGL). 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.
| UPLT | UGL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.12 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.42 | — |
| Martin ratioReturn relative to average drawdown | — | 0.93 | — |
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Drawdowns
UPLT vs. UGL - Drawdown Comparison
The maximum UPLT drawdown since its inception was -49.98%, smaller than the maximum UGL drawdown of -75.93%. Use the drawdown chart below to compare losses from any high point for UPLT and UGL.
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Drawdown Indicators
| UPLT | UGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.98% | -75.93% | +25.95% |
Max Drawdown (1Y)Largest decline over 1 year | — | -50.02% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -50.02% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -50.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.02% | — |
Current DrawdownCurrent decline from peak | -46.80% | -50.02% | +3.22% |
Average DrawdownAverage peak-to-trough decline | -27.13% | -43.63% | +16.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 22.37% | — |
Volatility
UPLT vs. UGL - Volatility Comparison
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Volatility by Period
| UPLT | UGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.20% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 48.73% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 79.82% | 55.63% | +24.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.82% | 36.98% | +42.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.82% | 32.65% | +47.17% |
UPLT vs. UGL - Expense Ratio Comparison
Both UPLT and UGL have an expense ratio of 0.95%.
Dividends
UPLT vs. UGL - Dividend Comparison
UPLT's dividend yield for the trailing twelve months is around 0.28%, while UGL has not paid dividends to shareholders.
| Position | TTM |
|---|---|
UGL ProShares Ultra Gold | 0.00% |
UPLT ProShares Ultra Platinum K-1 Free ETF | 0.28% |
Frequently Asked Questions
UPLT and UGL have a correlation of 0.81, 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.
UPLT and UGL have the same expense ratio: 0.95% per year.
UPLT has the higher dividend yield at 0.28%, compared with 0.00% for UGL.
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