UPW vs. BEG
UPW (ProShares Ultra Utilities) and BEG (Leverage Shares 2X Long BE Daily ETF) are both Leveraged Equities funds. UPW is passively managed, while BEG is actively managed. At a 0.14 correlation, their price movements are largely independent. UPW charges 0.95%/yr vs 0.75%/yr for BEG.
Performance
UPW vs. BEG - Performance Comparison
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Returns By Period
In the year-to-date period, UPW achieves a 10.19% return, which is significantly lower than BEG's 658.88% return.
UPW
- 1D
- 1.77%
- 1M
- -0.06%
- YTD
- 10.19%
- 6M
- 10.66%
- 1Y
- 20.48%
- 3Y*
- 20.05%
- 5Y*
- 12.26%
- 10Y*
- 10.32%
BEG
- 1D
- -13.66%
- 1M
- 4.00%
- YTD
- 658.88%
- 6M
- 577.94%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UPW vs. BEG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UPW ProShares Ultra Utilities | 10.19% | -1.21% |
BEG Leverage Shares 2X Long BE Daily ETF | 658.88% | 1.77% |
Correlation
The correlation between UPW and BEG is 0.14, 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 Dec 16, 2025 | 0.14 |
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Return for Risk
UPW vs. BEG — Risk / Return Rank
UPW
BEG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UPW vs. BEG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Utilities (UPW) and Leverage Shares 2X Long BE Daily ETF (BEG). 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.
| UPW | BEG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.14 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | — | — |
| Martin ratioReturn relative to average drawdown | 2.20 | — | — |
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Drawdowns
UPW vs. BEG - Drawdown Comparison
The maximum UPW drawdown since its inception was -77.75%, which is greater than BEG's maximum drawdown of -59.85%. Use the drawdown chart below to compare losses from any high point for UPW and BEG.
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Drawdown Indicators
| UPW | BEG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.75% | -59.85% | -17.90% |
Max Drawdown (1Y)Largest decline over 1 year | -19.15% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -33.16% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -49.42% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -62.67% | — | — |
Current DrawdownCurrent decline from peak | -10.63% | -13.66% | +3.03% |
Average DrawdownAverage peak-to-trough decline | -22.57% | -16.74% | -5.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.35% | — | — |
Volatility
UPW vs. BEG - Volatility Comparison
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Volatility by Period
| UPW | BEG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.08% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 23.61% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 29.31% | 212.91% | -183.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.38% | 212.91% | -178.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.23% | 212.91% | -175.68% |
UPW vs. BEG - Expense Ratio Comparison
UPW has a 0.95% expense ratio, which is higher than BEG's 0.75% expense ratio.
Dividends
UPW vs. BEG - Dividend Comparison
UPW's dividend yield for the trailing twelve months is around 1.45%, while BEG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BEG Leverage Shares 2X Long BE Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UPW ProShares Ultra Utilities | 1.45% | 1.67% | 1.83% | 2.40% | 1.55% | 1.30% | 0.83% | 0.83% | 1.98% | 1.51% | 1.70% | 2.16% |
Frequently Asked Questions
UPW and BEG have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BEG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BEG is cheaper with a 0.75% expense ratio, compared with 0.95% for UPW.
UPW has the higher dividend yield at 1.45%, compared with 0.00% for BEG.
They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for UPW and 0.75% for BEG.
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