UPV vs. XLK
Compare and contrast key facts about ProShares Ultra Europe (UPV) and State Street Technology Select Sector SPDR ETF (XLK).
UPV and XLK 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. XLK is a passively managed fund by State Street that tracks the performance of the S&P Technology Select Sector Daily Capped 35/20 Index. It was launched on Dec 16, 1998. Both UPV and XLK are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UPV vs. XLK - Performance Comparison
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UPV vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UPV ProShares Ultra Europe | -1.60% | 68.63% | -4.51% | 32.16% | -36.58% | 32.38% | -3.15% | 47.04% | -32.64% | 57.44% |
XLK State Street Technology Select Sector SPDR ETF | -6.18% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
Returns By Period
In the year-to-date period, UPV achieves a -1.60% return, which is significantly higher than XLK's -6.18% return. Over the past 10 years, UPV has underperformed XLK with an annualized return of 10.37%, while XLK has yielded a comparatively higher 21.00% annualized return.
UPV
- 1D
- 2.86%
- 1M
- -10.69%
- YTD
- -1.60%
- 6M
- 5.84%
- 1Y
- 36.90%
- 3Y*
- 20.72%
- 5Y*
- 9.35%
- 10Y*
- 10.37%
XLK
- 1D
- 1.51%
- 1M
- -3.20%
- YTD
- -6.18%
- 6M
- -4.94%
- 1Y
- 30.47%
- 3Y*
- 22.19%
- 5Y*
- 15.65%
- 10Y*
- 21.00%
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UPV vs. XLK - Expense Ratio Comparison
UPV has a 0.95% expense ratio, which is higher than XLK's 0.08% expense ratio.
Return for Risk
UPV vs. XLK — Risk / Return Rank
UPV
XLK
UPV vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Europe (UPV) and State Street Technology Select Sector SPDR ETF (XLK). 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 | XLK | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.05 | 1.13 | -0.08 |
Sortino ratioReturn per unit of downside risk | 1.57 | 1.71 | -0.14 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.97 | -0.39 |
Martin ratioReturn relative to average drawdown | 5.84 | 6.31 | -0.47 |
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 | XLK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 1.13 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.64 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.87 | -0.58 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.36 | -0.12 |
Correlation
The correlation between UPV and XLK is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
UPV vs. XLK - Dividend Comparison
UPV's dividend yield for the trailing twelve months is around 2.33%, more than XLK's 0.57% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UPV ProShares Ultra Europe | 2.33% | 2.11% | 2.70% | 1.57% | 0.00% | 0.00% | 0.00% | 0.65% | 3.80% | 0.00% | 0.00% | 0.00% |
XLK State Street Technology Select Sector SPDR ETF | 0.57% | 0.54% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% |
Drawdowns
UPV vs. XLK - Drawdown Comparison
The maximum UPV drawdown since its inception was -67.25%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for UPV and XLK.
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Drawdown Indicators
| UPV | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.25% | -82.05% | +14.80% |
Max Drawdown (1Y)Largest decline over 1 year | -23.41% | -15.92% | -7.49% |
Max Drawdown (5Y)Largest decline over 5 years | -58.33% | -33.56% | -24.77% |
Max Drawdown (10Y)Largest decline over 10 years | -67.25% | -33.56% | -33.69% |
Current DrawdownCurrent decline from peak | -15.13% | -11.04% | -4.09% |
Average DrawdownAverage peak-to-trough decline | -20.96% | -35.17% | +14.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.36% | 4.98% | +1.38% |
Volatility
UPV vs. XLK - Volatility Comparison
ProShares Ultra Europe (UPV) has a higher volatility of 14.58% compared to State Street Technology Select Sector SPDR ETF (XLK) at 8.12%. This indicates that UPV's price experiences larger fluctuations and is considered to be riskier than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UPV | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.58% | 8.12% | +6.46% |
Volatility (6M)Calculated over the trailing 6-month period | 21.99% | 16.49% | +5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.18% | 27.05% | +8.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.00% | 24.72% | +10.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.94% | 24.33% | +12.61% |