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URSP vs. UPRO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

URSP vs. UPRO

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra S&P 500 Equal Weight ETF (URSP) and ProShares UltraPro S&P 500 (UPRO).

URSP and UPRO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. URSP is a passively managed fund by ProShares that tracks the performance of the S&P 500 Equal Weight Index. It was launched on Aug 25, 2025. UPRO is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (300%). It was launched on Jun 23, 2009. Both URSP and UPRO 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

URSP vs. UPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra S&P 500 Equal Weight ETF (URSP) and ProShares UltraPro S&P 500 (UPRO). The values are adjusted to include any dividend payments, if applicable.

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URSP vs. UPRO - Yearly Performance Comparison

2026 (YTD)2025
URSP
ProShares Ultra S&P 500 Equal Weight ETF		-0.70%1.57%
UPRO
ProShares UltraPro S&P 500		-16.03%13.46%

Returns By Period

In the year-to-date period, URSP achieves a -0.70% return, which is significantly higher than UPRO's -16.03% return.

URSP

1D
3.91%
1M
-12.42%
YTD
-0.70%
6M
-0.13%
1Y
—
3Y*
—
5Y*
—
10Y*
—

UPRO

1D
8.61%
1M
-15.71%
YTD
-16.03%
6M
-12.57%
1Y
32.51%
3Y*
37.29%
5Y*
16.63%
10Y*
25.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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ProShares Ultra S&P 500 Equal Weight ETF

ProShares UltraPro S&P 500

Often compared with URSP:
URSP vs. QQQURSP vs. RSPURSP vs. SSOURSP vs. TSMGURSP vs. MUUURSP vs. TQQQURSP vs. BRKW
Often compared with UPRO:
UPRO vs. SPYUPRO vs. TQQQUPRO vs. SPXLUPRO vs. SSOUPRO vs. VOOUPRO vs. QLDUPRO vs. SPXU

URSP vs. UPRO - Expense Ratio Comparison

URSP has a 0.95% expense ratio, which is higher than UPRO's 0.92% expense ratio.

URSP
ProShares Ultra S&P 500 Equal Weight ETF
UPRO
ProShares UltraPro S&P 500

Return for Risk

URSP vs. UPRO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
URSP
UPRO
UPRO Risk / Return Rank: 4545
Overall Rank
UPRO Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
UPRO Sortino Ratio Rank: 4646
Sortino Ratio Rank
UPRO Omega Ratio Rank: 4949
Omega Ratio Rank
UPRO Calmar Ratio Rank: 4545
Calmar Ratio Rank
UPRO Martin Ratio Rank: 4747
Martin Ratio Rank
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.

URSP vs. UPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P 500 Equal Weight ETF (URSP) and ProShares UltraPro S&P 500 (UPRO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

URSP vs. UPRO - Sharpe Ratio Comparison

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Sharpe Ratios by Period

URSPUPRODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

0.60

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.33

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.47

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.06

0.59

-0.53

Correlation

The correlation between URSP and UPRO is 0.72, 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.

Dividends

URSP vs. UPRO - Dividend Comparison

URSP's dividend yield for the trailing twelve months is around 0.69%, less than UPRO's 1.04% yield.

TTM20252024202320222021202020192018201720162015
URSP
ProShares Ultra S&P 500 Equal Weight ETF		0.69%0.38%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
UPRO
ProShares UltraPro S&P 500		1.04%0.84%0.93%0.74%0.52%0.06%0.11%0.41%0.63%0.00%0.12%0.34%

Drawdowns

URSP vs. UPRO - Drawdown Comparison

The maximum URSP drawdown since its inception was -15.72%, smaller than the maximum UPRO drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for URSP and UPRO.

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Drawdown Indicators

URSPUPRODifference

Max Drawdown

Largest peak-to-trough decline

-15.72%

-76.82%

+61.10%

Max Drawdown (1Y)

Largest decline over 1 year

—

-33.38%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-63.94%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-76.82%

—

Current Drawdown

Current decline from peak

-12.42%

-20.48%

+8.06%

Average Drawdown

Average peak-to-trough decline

-3.06%

-14.53%

+11.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

8.33%

—

Volatility

URSP vs. UPRO - Volatility Comparison

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Volatility by Period

URSPUPRODifference

Volatility (1M)

Calculated over the trailing 1-month period

—

15.89%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

28.41%

—

Volatility (1Y)

Calculated over the trailing 1-year period

24.11%

54.34%

-30.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.11%

50.34%

-26.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.11%

53.70%

-29.59%