UPW vs. USD
Compare and contrast key facts about ProShares Ultra Utilities (UPW) and ProShares Ultra Semiconductors (USD).
UPW and USD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. USD is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Semiconductors Index (200%). It was launched on Jan 30, 2007. Both UPW and USD 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
UPW vs. USD - Performance Comparison
Loading graphics...
UPW vs. USD - 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% |
USD ProShares Ultra Semiconductors | -4.90% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Returns By Period
In the year-to-date period, UPW achieves a 15.87% return, which is significantly higher than USD's -4.90% return. Over the past 10 years, UPW has underperformed USD with an annualized return of 11.32%, while USD has yielded a comparatively higher 50.62% 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%
USD
- 1D
- 4.03%
- 1M
- -7.90%
- YTD
- -4.90%
- 6M
- -1.21%
- 1Y
- 145.25%
- 3Y*
- 90.90%
- 5Y*
- 44.58%
- 10Y*
- 50.62%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
UPW vs. USD - Expense Ratio Comparison
Both UPW and USD have an expense ratio of 0.95%.
Return for Risk
UPW vs. USD — Risk / Return Rank
UPW
USD
UPW vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Utilities (UPW) and ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 1.90 | -0.87 |
Sortino ratioReturn per unit of downside risk | 1.45 | 2.44 | -0.99 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.34 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.72 | 4.67 | -2.95 |
Martin ratioReturn relative to average drawdown | 4.02 | 12.81 | -8.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| UPW | USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 1.90 | -0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.59 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.74 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.41 | -0.14 |
Correlation
The correlation between UPW and USD is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
UPW vs. USD - Dividend Comparison
UPW's dividend yield for the trailing twelve months is around 1.38%, more than USD's 0.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UPW ProShares Ultra Utilities | 1.38% | 1.67% | 1.83% | 2.40% | 1.55% | 1.30% | 0.83% | 0.83% | 1.98% | 1.51% | 1.70% | 2.16% |
USD ProShares Ultra Semiconductors | 0.48% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Drawdowns
UPW vs. USD - Drawdown Comparison
The maximum UPW drawdown since its inception was -77.75%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for UPW and USD.
Loading graphics...
Drawdown Indicators
| UPW | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.75% | -88.63% | +10.88% |
Max Drawdown (1Y)Largest decline over 1 year | -18.93% | -31.80% | +12.87% |
Max Drawdown (5Y)Largest decline over 5 years | -49.42% | -77.85% | +28.43% |
Max Drawdown (10Y)Largest decline over 10 years | -62.67% | -77.85% | +15.18% |
Current DrawdownCurrent decline from peak | -6.02% | -21.24% | +15.22% |
Average DrawdownAverage peak-to-trough decline | -22.71% | -32.60% | +9.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.10% | 11.60% | -3.50% |
Volatility
UPW vs. USD - Volatility Comparison
The current volatility for ProShares Ultra Utilities (UPW) is 10.24%, while ProShares Ultra Semiconductors (USD) has a volatility of 21.67%. This indicates that UPW experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| UPW | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.24% | 21.67% | -11.43% |
Volatility (6M)Calculated over the trailing 6-month period | 20.96% | 48.73% | -27.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.40% | 77.08% | -45.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.12% | 76.24% | -42.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.06% | 68.85% | -31.79% |