UPRO vs. METU

Last updated Jul 21, 2026

UPRO (ProShares UltraPro S&P 500) and METU (Direxion Daily META Bull 2X ETF) are both Leveraged Equities funds. UPRO is passively managed, while METU is actively managed. Over the past year, UPRO returned 46.85% vs -34.85% for METU. A 0.57 correlation means they provide meaningful diversification when combined. UPRO charges 0.89%/yr vs 1.07%/yr for METU.

Performance

UPRO vs. METU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro S&P 500 (UPRO) and Direxion Daily META Bull 2X ETF (METU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UPRO achieves a 20.15% return, which is significantly higher than METU's -17.90% return.

UPRO

• 1D: -0.42%
• 1M: -2.82%
• 6M: 15.78%
• YTD: 20.15%
• 1Y: 46.85%
• 3Y*: 41.82%
• 5Y*: 19.47%
• 10Y*: 28.00%
• ALL TIME*: 33.07%

METU

• 1D: -0.19%
• 1M: 21.57%
• 6M: -6.45%
• YTD: -17.90%
• 1Y: -34.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.17%

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

UPRO vs. METU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UPRO ProShares UltraPro S&P 500	20.15%	31.88%	26.74%
METU Direxion Daily META Bull 2X ETF	-17.90%	-1.01%	28.79%

Correlation

The correlation between UPRO and METU is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 5, 2024	0.57

The correlation between UPRO and METU has been stable across timeframes, ranging from 0.55 to 0.57 - a consistent structural relationship.

UPRO vs. METU - Sectors Allocation Comparison

Sectors	UPRO	METU
Technology	38.5%	-
Financial Services	11.6%	-
Communication Services	9.9%	100.0%
Consumer Cyclical	9.5%	-
Healthcare	8.9%	-
Industrials	8.4%	-
Consumer Defensive	4.5%	-
Energy	3.0%	-
Utilities	2.2%	-
Real Estate	1.8%	-
Basic Materials	1.7%	-

Return for Risk

UPRO vs. METU — Risk / Return Rank

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

UPRO

UPRO Risk / Return Rank: 47
UPRO Sharpe Ratio Rank: 47
UPRO Sortino Ratio Rank: 44
UPRO Omega Ratio Rank: 45
UPRO Calmar Ratio Rank: 45
UPRO Martin Ratio Rank: 54

METU

METU Risk / Return Rank: 6
METU Sharpe Ratio Rank: 6
METU Sortino Ratio Rank: 7
METU Omega Ratio Rank: 7
METU Calmar Ratio Rank: 5
METU Martin Ratio Rank: 5

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.

UPRO vs. METU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro S&P 500 (UPRO) and Direxion Daily META Bull 2X ETF (METU). 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.

	UPRO	METU	Difference
Sharpe ratio: Return per unit of total volatility	1.25	-0.45	+1.70
Sortino ratio: Return per unit of downside risk	1.75	-0.25	+1.99
Omega ratio: Gain probability vs. loss probability	1.23	0.97	+0.26
Calmar ratio: Return relative to maximum drawdown	1.76	-0.57	+2.33
Martin ratio: Return relative to average drawdown	6.89	-0.92	+7.81

UPRO vs. METU - Sharpe Ratio Comparison

The current UPRO Sharpe Ratio is 1.25, which is higher than the METU Sharpe Ratio of -0.45. The chart below compares the historical Sharpe Ratios of UPRO and METU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UPRO vs. METU - Drawdown Comparison

The maximum UPRO drawdown since its inception was -76.82%, which is greater than METU's maximum drawdown of -61.86%. Use the drawdown chart below to compare losses from any high point for UPRO and METU.

Drawdown Indicators

	UPRO	METU	Difference
Max Drawdown Largest peak-to-trough decline	-76.82%	-61.86%	-14.96%
Max Drawdown (1Y) Largest decline over 1 year	-26.78%	-61.54%	+34.76%
Max Drawdown (3Y) Largest decline over 3 years	-48.87%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-63.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-76.82%	—	—
Current Drawdown Current decline from peak	-8.02%	-47.52%	+39.50%
Average Drawdown Average peak-to-trough decline	-14.36%	-25.25%	+10.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.81%	38.08%	-31.27%

Volatility

UPRO vs. METU - Volatility Comparison

The current volatility for ProShares UltraPro S&P 500 (UPRO) is 10.26%, while Direxion Daily META Bull 2X ETF (METU) has a volatility of 29.45%. This indicates that UPRO experiences smaller price fluctuations and is considered to be less risky than METU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UPRO	METU	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.26%	29.45%	-19.19%
Volatility (6M) Calculated over the trailing 6-month period	30.15%	62.20%	-32.05%
Volatility (1Y) Calculated over the trailing 1-year period	37.77%	77.46%	-39.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.62%	74.36%	-23.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.74%	74.36%	-20.62%

UPRO vs. METU - Expense Ratio Comparison

UPRO has a 0.89% expense ratio, which is lower than METU's 1.07% expense ratio.

Dividends

UPRO vs. METU - Dividend Comparison

UPRO's dividend yield for the trailing twelve months is around 0.78%, less than METU's 3.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
METU Direxion Daily META Bull 2X ETF	3.38%	3.00%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UPRO ProShares UltraPro S&P 500	0.78%	0.84%	0.93%	0.74%	0.52%	0.06%	0.11%	0.41%	0.63%	0.00%	0.12%	0.34%

Frequently Asked Questions

Can I hold both UPRO and METU in my portfolio?

UPRO and METU have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UPRO or METU?

METU has higher volatility (29.45%) compared to UPRO (10.26%). In terms of maximum drawdown, UPRO dropped -76.82% vs METU's -61.86%.

Which ETF is better, UPRO or METU?

On 1-year performance, UPRO leads with 46.85% vs -34.85% for METU. On fees, UPRO is cheaper at 0.89% per year. On volatility, UPRO has been the lower-risk option at 10.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UPRO or METU?

Over the 1-year period, UPRO has performed better with a 46.85% return vs -34.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UPRO or METU?

UPRO is cheaper with a 0.89% expense ratio, compared with 1.07% for METU.

Which ETF pays a higher dividend yield, UPRO or METU?

METU has the higher dividend yield at 3.38%, compared with 0.78% for UPRO.

What is the main difference between UPRO and METU?

They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.89% for UPRO and 1.07% for METU.

Which has better risk-adjusted returns?

UPRO currently has the higher Sharpe Ratio (1.25 vs -0.45), 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.