UPRO vs. SPY
Compare and contrast key facts about ProShares UltraPro S&P 500 (UPRO) and SPDR S&P 500 ETF (SPY).
UPRO and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both UPRO and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: UPRO or SPY.
Key characteristics
| UPRO | SPY | |
|---|---|---|
| YTD Return | 8.27% | 4.50% |
| 1Y Return | 53.09% | 21.96% |
| 3Y Return (Ann) | 5.84% | 7.90% |
| 5Y Return (Ann) | 17.99% | 13.11% |
| 10Y Return (Ann) | 22.07% | 12.19% |
| Sharpe Ratio | 1.44 | 1.82 |
| Daily Std Dev | 35.03% | 11.71% |
| Max Drawdown | -76.82% | -55.19% |
| Current Drawdown | -22.61% | -5.35% |
Correlation
The correlation between UPRO and SPY is 1.00, 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.
Performance
UPRO vs. SPY - Performance Comparison
In the year-to-date period, UPRO achieves a 8.27% return, which is significantly higher than SPY's 4.50% return. Over the past 10 years, UPRO has outperformed SPY with an annualized return of 22.07%, while SPY has yielded a comparatively lower 12.19% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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UPRO vs. SPY - Expense Ratio Comparison
Risk-Adjusted Performance
UPRO vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro S&P 500 (UPRO) and SPDR S&P 500 ETF (SPY). 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.
Dividends
UPRO vs. SPY - Dividend Comparison
UPRO's dividend yield for the trailing twelve months is around 0.75%, less than SPY's 1.36% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UPRO ProShares UltraPro S&P 500 | 0.75% | 0.74% | 0.52% | 0.06% | 0.11% | 0.53% | 0.63% | 0.00% | 0.12% | 0.34% | 0.22% | 0.07% |
SPY SPDR S&P 500 ETF | 1.36% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
UPRO vs. SPY - Drawdown Comparison
The maximum UPRO drawdown since its inception was -76.82%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for UPRO and SPY. For additional features, visit the drawdowns tool.
Volatility
UPRO vs. SPY - Volatility Comparison
ProShares UltraPro S&P 500 (UPRO) has a higher volatility of 9.34% compared to SPDR S&P 500 ETF (SPY) at 3.09%. This indicates that UPRO's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.