UPW vs. ^SIXU

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Ultra Utilities (UPW) and Utilities Select Sector Index (^SIXU).

UPW is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Utilities Index (200%). It was launched on Jan 30, 2007.

Performance

UPW vs. ^SIXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Utilities (UPW) and Utilities Select Sector Index (^SIXU). The values are adjusted to include any dividend payments, if applicable.

UPW vs. ^SIXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UPW ProShares Ultra Utilities	15.87%	23.61%	37.67%	-22.37%	-4.59%	32.57%	-17.15%	48.59%	2.36%	22.53%
^SIXU Utilities Select Sector Index	8.00%	12.69%	19.58%	-10.20%	-1.12%	13.62%	-2.80%	22.24%	0.48%	8.32%

Returns By Period

In the year-to-date period, UPW achieves a 15.87% return, which is significantly higher than ^SIXU's 8.00% return. Over the past 10 years, UPW has outperformed ^SIXU with an annualized return of 11.32%, while ^SIXU has yielded a comparatively lower 6.37% annualized return.

UPW

• 1D: 1.28%
• 1M: -4.45%
• YTD: 15.87%
• 6M: 8.55%
• 1Y: 32.00%
• 3Y*: 18.77%
• 5Y*: 13.07%
• 10Y*: 11.32%

^SIXU

• 1D: 0.45%
• 1M: -2.22%
• YTD: 8.00%
• 6M: 4.75%
• 1Y: 16.54%
• 3Y*: 10.85%
• 5Y*: 7.58%
• 10Y*: 6.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

UPW vs. ^SIXU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UPW

UPW Risk / Return Rank: 52
UPW Sharpe Ratio Rank: 55
UPW Sortino Ratio Rank: 52
UPW Omega Ratio Rank: 48
UPW Calmar Ratio Rank: 63
UPW Martin Ratio Rank: 41

^SIXU

^SIXU Risk / Return Rank: 62
^SIXU Sharpe Ratio Rank: 71
^SIXU Sortino Ratio Rank: 65
^SIXU Omega Ratio Rank: 57
^SIXU Calmar Ratio Rank: 70
^SIXU Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UPW vs. ^SIXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Utilities (UPW) and Utilities Select Sector Index (^SIXU). 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.

	UPW	^SIXU	Difference
Sharpe ratio Return per unit of total volatility	1.02	1.05	-0.02
Sortino ratio Return per unit of downside risk	1.45	1.45	0.00
Omega ratio Gain probability vs. loss probability	1.19	1.20	0.00
Calmar ratio Return relative to maximum drawdown	1.72	1.72	0.00
Martin ratio Return relative to average drawdown	4.02	4.11	-0.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UPW vs. ^SIXU - Sharpe Ratio Comparison

The current UPW Sharpe Ratio is 1.02, which is comparable to the ^SIXU Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of UPW and ^SIXU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UPW	^SIXU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	1.05	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.44	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.33	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.38	-0.11

Correlation

The correlation between UPW and ^SIXU is 0.94, 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.

Drawdowns

UPW vs. ^SIXU - Drawdown Comparison

The maximum UPW drawdown since its inception was -77.75%, which is greater than ^SIXU's maximum drawdown of -36.56%. Use the drawdown chart below to compare losses from any high point for UPW and ^SIXU.

Drawdown Indicators

	UPW	^SIXU	Difference
Max Drawdown Largest peak-to-trough decline	-77.75%	-36.56%	-41.19%
Max Drawdown (1Y) Largest decline over 1 year	-18.93%	-9.82%	-9.11%
Max Drawdown (5Y) Largest decline over 5 years	-49.42%	-27.79%	-21.63%
Max Drawdown (10Y) Largest decline over 10 years	-62.67%	-36.56%	-26.11%
Current Drawdown Current decline from peak	-6.02%	-2.98%	-3.04%
Average Drawdown Average peak-to-trough decline	-22.71%	-6.73%	-15.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.10%	4.11%	+3.99%

Volatility

UPW vs. ^SIXU - Volatility Comparison

ProShares Ultra Utilities (UPW) has a higher volatility of 10.24% compared to Utilities Select Sector Index (^SIXU) at 5.12%. This indicates that UPW's price experiences larger fluctuations and is considered to be riskier than ^SIXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UPW	^SIXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.24%	5.12%	+5.12%
Volatility (6M) Calculated over the trailing 6-month period	20.96%	10.43%	+10.53%
Volatility (1Y) Calculated over the trailing 1-year period	31.40%	15.86%	+15.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.12%	17.18%	+16.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.06%	19.36%	+17.70%