UPV vs. SPY
Compare and contrast key facts about ProShares Ultra Europe (UPV) and SPDR S&P 500 ETF (SPY).
UPV and SPY 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. 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 UPV 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: UPV or SPY.
Performance
UPV vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, UPV achieves a -2.37% return, which is significantly lower than SPY's 26.08% return. Over the past 10 years, UPV has underperformed SPY with an annualized return of 2.77%, while SPY has yielded a comparatively higher 13.10% annualized return.
UPV
-2.37%
-11.90%
-13.38%
9.68%
2.87%
2.77%
SPY
26.08%
1.77%
13.59%
32.24%
15.62%
13.10%
Key characteristics
| UPV | SPY | |
|---|---|---|
| Sharpe Ratio | 0.47 | 2.70 |
| Sortino Ratio | 0.81 | 3.60 |
| Omega Ratio | 1.10 | 1.50 |
| Calmar Ratio | 0.40 | 3.90 |
| Martin Ratio | 1.95 | 17.52 |
| Ulcer Index | 6.37% | 1.87% |
| Daily Std Dev | 26.29% | 12.14% |
| Max Drawdown | -67.25% | -55.19% |
| Current Drawdown | -21.86% | -0.85% |
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UPV vs. SPY - Expense Ratio Comparison
UPV has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.
Correlation
The correlation between UPV and SPY is 0.71, 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.
Risk-Adjusted Performance
UPV vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Europe (UPV) 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
UPV vs. SPY - Dividend Comparison
UPV's dividend yield for the trailing twelve months is around 2.34%, more than SPY's 1.18% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UPV ProShares Ultra Europe | 2.34% | 1.56% | 0.00% | 0.00% | 0.00% | 0.64% | 3.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.18% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
UPV vs. SPY - Drawdown Comparison
The maximum UPV drawdown since its inception was -67.25%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for UPV and SPY. For additional features, visit the drawdowns tool.
Volatility
UPV vs. SPY - Volatility Comparison
ProShares Ultra Europe (UPV) has a higher volatility of 8.61% compared to SPDR S&P 500 ETF (SPY) at 3.98%. This indicates that UPV'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.