UPV vs. GVAL
Compare and contrast key facts about ProShares Ultra Europe (UPV) and Cambria Global Value ETF (GVAL).
UPV and GVAL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UPV is a passively managed fund by ProShares that tracks the performance of the MSCI Europe Index (200%). It was launched on Apr 30, 2010. GVAL is an actively managed fund by Cambria. It was launched on Mar 11, 2014.
Performance
UPV vs. GVAL - Performance Comparison
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UPV vs. GVAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UPV ProShares Ultra Europe | -4.34% | 68.63% | -4.51% | 32.16% | -36.58% | 32.38% | -3.15% | 47.04% | -32.64% | 57.44% |
GVAL Cambria Global Value ETF | 5.70% | 55.87% | 2.59% | 13.30% | -7.98% | 10.70% | -8.51% | 17.24% | -14.30% | 29.50% |
Returns By Period
In the year-to-date period, UPV achieves a -4.34% return, which is significantly lower than GVAL's 5.70% return. Both investments have delivered pretty close results over the past 10 years, with UPV having a 10.05% annualized return and GVAL not far behind at 9.91%.
UPV
- 1D
- 6.31%
- 1M
- -16.80%
- YTD
- -4.34%
- 6M
- 5.15%
- 1Y
- 33.34%
- 3Y*
- 19.59%
- 5Y*
- 8.73%
- 10Y*
- 10.05%
GVAL
- 1D
- 3.01%
- 1M
- -6.45%
- YTD
- 5.70%
- 6M
- 14.74%
- 1Y
- 38.86%
- 3Y*
- 23.32%
- 5Y*
- 13.26%
- 10Y*
- 9.91%
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UPV vs. GVAL - Expense Ratio Comparison
UPV has a 0.95% expense ratio, which is higher than GVAL's 0.66% expense ratio.
Return for Risk
UPV vs. GVAL — Risk / Return Rank
UPV
GVAL
UPV vs. GVAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Europe (UPV) and Cambria Global Value ETF (GVAL). 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.
| UPV | GVAL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.95 | 2.26 | -1.30 |
Sortino ratioReturn per unit of downside risk | 1.46 | 2.90 | -1.45 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.47 | -0.27 |
Calmar ratioReturn relative to maximum drawdown | 1.32 | 3.32 | -2.01 |
Martin ratioReturn relative to average drawdown | 4.90 | 12.67 | -7.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UPV | GVAL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 2.26 | -1.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.73 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.52 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.32 | -0.08 |
Correlation
The correlation between UPV and GVAL is 0.73, 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.
Dividends
UPV vs. GVAL - Dividend Comparison
UPV's dividend yield for the trailing twelve months is around 2.39%, less than GVAL's 3.06% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UPV ProShares Ultra Europe | 2.39% | 2.11% | 2.70% | 1.57% | 0.00% | 0.00% | 0.00% | 0.65% | 3.80% | 0.00% | 0.00% | 0.00% |
GVAL Cambria Global Value ETF | 3.06% | 2.93% | 4.75% | 6.12% | 5.05% | 2.97% | 1.90% | 2.84% | 4.65% | 2.00% | 2.54% | 2.11% |
Drawdowns
UPV vs. GVAL - Drawdown Comparison
The maximum UPV drawdown since its inception was -67.25%, which is greater than GVAL's maximum drawdown of -46.82%. Use the drawdown chart below to compare losses from any high point for UPV and GVAL.
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Drawdown Indicators
| UPV | GVAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.25% | -46.82% | -20.43% |
Max Drawdown (1Y)Largest decline over 1 year | -23.41% | -11.50% | -11.91% |
Max Drawdown (5Y)Largest decline over 5 years | -58.33% | -30.83% | -27.50% |
Max Drawdown (10Y)Largest decline over 10 years | -67.25% | -46.82% | -20.43% |
Current DrawdownCurrent decline from peak | -17.49% | -7.55% | -9.94% |
Average DrawdownAverage peak-to-trough decline | -20.97% | -14.04% | -6.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.29% | 3.02% | +3.27% |
Volatility
UPV vs. GVAL - Volatility Comparison
ProShares Ultra Europe (UPV) has a higher volatility of 15.44% compared to Cambria Global Value ETF (GVAL) at 8.03%. This indicates that UPV's price experiences larger fluctuations and is considered to be riskier than GVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UPV | GVAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.44% | 8.03% | +7.41% |
Volatility (6M)Calculated over the trailing 6-month period | 21.88% | 11.33% | +10.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.13% | 17.32% | +17.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.00% | 18.31% | +16.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.94% | 19.18% | +17.76% |