UPV vs. NBIG
UPV (ProShares Ultra Europe) and NBIG (Leverage Shares 2X Long NBIS Daily ETF) are both Leveraged Equities funds. UPV is passively managed, while NBIG is actively managed. At a 0.21 correlation, their price movements are largely independent. UPV charges 0.95%/yr vs 0.75%/yr for NBIG.
Performance
UPV vs. NBIG - Performance Comparison
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Returns By Period
In the year-to-date period, UPV achieves a 8.72% return, which is significantly lower than NBIG's 232.78% return.
UPV
- 1D
- -1.70%
- 1M
- -1.91%
- 6M
- 2.53%
- YTD
- 8.72%
- 1Y
- 24.66%
- 3Y*
- 21.43%
- 5Y*
- 8.50%
- 10Y*
- 11.66%
NBIG
- 1D
- -8.14%
- 1M
- -26.86%
- 6M
- 108.06%
- YTD
- 232.78%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UPV vs. NBIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UPV ProShares Ultra Europe | 8.72% | 6.47% |
NBIG Leverage Shares 2X Long NBIS Daily ETF | 232.78% | -59.80% |
Correlation
The correlation between UPV and NBIG is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 27, 2025 | 0.21 |
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Return for Risk
UPV vs. NBIG — Risk / Return Rank
UPV
NBIG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UPV vs. NBIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Europe (UPV) and Leverage Shares 2X Long NBIS Daily ETF (NBIG). 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.
| UPV | NBIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.15 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | — | — |
| Martin ratioReturn relative to average drawdown | 3.51 | — | — |
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Drawdowns
UPV vs. NBIG - Drawdown Comparison
The maximum UPV drawdown since its inception was -67.25%, smaller than the maximum NBIG drawdown of -75.83%. Use the drawdown chart below to compare losses from any high point for UPV and NBIG.
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Drawdown Indicators
| UPV | NBIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.25% | -75.83% | +8.58% |
Max Drawdown (1Y)Largest decline over 1 year | -23.41% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -27.54% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -58.33% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -67.25% | — | — |
Current DrawdownCurrent decline from peak | -6.23% | -50.93% | +44.70% |
Average DrawdownAverage peak-to-trough decline | -20.73% | -40.44% | +19.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.04% | — | — |
Volatility
UPV vs. NBIG - Volatility Comparison
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Volatility by Period
| UPV | NBIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.50% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 27.31% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 31.73% | 202.64% | -170.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.54% | 202.64% | -167.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.14% | 202.64% | -166.50% |
UPV vs. NBIG - Expense Ratio Comparison
UPV has a 0.95% expense ratio, which is higher than NBIG's 0.75% expense ratio.
Dividends
UPV vs. NBIG - Dividend Comparison
UPV's dividend yield for the trailing twelve months is around 2.28%, while NBIG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NBIG Leverage Shares 2X Long NBIS Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UPV ProShares Ultra Europe | 2.28% | 2.11% | 2.70% | 1.57% | 0.00% | 0.00% | 0.00% | 0.65% | 3.80% |
Frequently Asked Questions
UPV and NBIG have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NBIG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NBIG is cheaper with a 0.75% expense ratio, compared with 0.95% for UPV.
UPV has the higher dividend yield at 2.28%, compared with 0.00% for NBIG.
They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for UPV and 0.75% for NBIG.
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