URTY vs. UMDD

Last updated Jun 3, 2026

URTY (ProShares UltraPro Russell2000) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds from ProShares - URTY tracks the Russell 2000 Index (300%) while UMDD tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 10 years, URTY returned 8.17%/yr vs 11.97%/yr for UMDD. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.

Performance

URTY vs. UMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Russell2000 (URTY) and ProShares UltraPro MidCap400 (UMDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URTY achieves a 52.66% return, which is significantly higher than UMDD's 37.62% return. Over the past 10 years, URTY has underperformed UMDD with an annualized return of 8.17%, while UMDD has yielded a comparatively higher 11.97% annualized return.

URTY

• 1D: 2.70%
• 1M: 11.99%
• YTD: 52.66%
• 6M: 54.22%
• 1Y: 137.89%
• 3Y*: 29.37%
• 5Y*: -5.67%
• 10Y*: 8.17%

UMDD

• 1D: 2.51%
• 1M: 8.57%
• YTD: 37.62%
• 6M: 40.07%
• 1Y: 72.42%
• 3Y*: 25.92%
• 5Y*: 2.64%
• 10Y*: 11.97%

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

URTY vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
URTY ProShares UltraPro Russell2000	52.66%	9.26%	7.38%	24.43%	-62.81%	28.47%	-7.72%	72.37%	-39.59%	38.85%
UMDD ProShares UltraPro MidCap400	37.62%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	49.17%

Correlation

The correlation between URTY and UMDD is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010	0.94

The correlation between URTY and UMDD has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

URTY vs. UMDD - Sectors Allocation Comparison

Sectors	URTY	UMDD
Financial Services	25.3%	7.5%
Technology	7.3%	9.1%
Industrials	6.4%	13.6%
Healthcare	6.1%	4.8%
Consumer Cyclical	2.9%	5.2%
Energy	2.4%	2.9%
Real Estate	2.2%	4.1%
Basic Materials	1.7%	2.6%
Utilities	1.2%	1.6%
Consumer Defensive	0.8%	2.2%
Communication Services	0.8%	0.5%

Return for Risk

URTY vs. UMDD — Risk / Return Rank

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

URTY

URTY Risk / Return Rank: 68
URTY Sharpe Ratio Rank: 73
URTY Sortino Ratio Rank: 59
URTY Omega Ratio Rank: 53
URTY Calmar Ratio Rank: 81
URTY Martin Ratio Rank: 73

UMDD

UMDD Risk / Return Rank: 46
UMDD Sharpe Ratio Rank: 44
UMDD Sortino Ratio Rank: 42
UMDD Omega Ratio Rank: 40
UMDD Calmar Ratio Rank: 54
UMDD Martin Ratio Rank: 52

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.

URTY vs. UMDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Russell2000 (URTY) and ProShares UltraPro MidCap400 (UMDD). 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.

	URTY	UMDD	Difference
Sharpe ratio Return per unit of total volatility	2.43	1.56	+0.87
Sortino ratio Return per unit of downside risk	2.81	2.17	+0.64
Omega ratio Gain probability vs. loss probability	1.33	1.26	+0.07
Calmar ratio Return relative to maximum drawdown	4.30	2.70	+1.59
Martin ratio Return relative to average drawdown	14.15	9.07	+5.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

URTY vs. UMDD - Sharpe Ratio Comparison

The current URTY Sharpe Ratio is 2.43, which is higher than the UMDD Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of URTY and UMDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	URTY	UMDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	1.56	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	0.05	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	0.19	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.32	-0.12

Drawdowns

URTY vs. UMDD - Drawdown Comparison

The maximum URTY drawdown since its inception was -88.09%, roughly equal to the maximum UMDD drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for URTY and UMDD.

Drawdown Indicators

	URTY	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-88.09%	-86.24%	-1.85%
Max Drawdown (1Y) Largest decline over 1 year	-32.56%	-26.04%	-6.52%
Max Drawdown (3Y) Largest decline over 3 years	-65.85%	-60.33%	-5.52%
Max Drawdown (5Y) Largest decline over 5 years	-82.76%	-64.61%	-18.15%
Max Drawdown (10Y) Largest decline over 10 years	-88.09%	-86.24%	-1.85%
Current Drawdown Current decline from peak	-37.15%	-5.75%	-31.40%
Average Drawdown Average peak-to-trough decline	-34.79%	-23.62%	-11.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.89%	7.76%	+2.13%

Volatility

URTY vs. UMDD - Volatility Comparison

ProShares UltraPro Russell2000 (URTY) has a higher volatility of 16.64% compared to ProShares UltraPro MidCap400 (UMDD) at 13.72%. This indicates that URTY's price experiences larger fluctuations and is considered to be riskier than UMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URTY	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.64%	13.72%	+2.92%
Volatility (6M) Calculated over the trailing 6-month period	40.33%	34.30%	+6.03%
Volatility (1Y) Calculated over the trailing 1-year period	57.15%	46.81%	+10.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.42%	58.92%	+8.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.33%	62.29%	+7.04%

URTY vs. UMDD - Expense Ratio Comparison

Both URTY and UMDD have an expense ratio of 0.95%.

Dividends

URTY vs. UMDD - Dividend Comparison

URTY's dividend yield for the trailing twelve months is around 0.62%, less than UMDD's 0.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UMDD ProShares UltraPro MidCap400	0.76%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%
URTY ProShares UltraPro Russell2000	0.62%	1.02%	1.16%	0.55%	0.28%	0.00%	0.00%	0.18%	0.28%	0.00%	0.03%	0.00%

Frequently Asked Questions

Can I hold both URTY and UMDD in my portfolio?

With a correlation of 0.92, URTY and UMDD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, URTY or UMDD?

URTY has higher volatility (16.64%) compared to UMDD (13.72%). In terms of maximum drawdown, URTY dropped -88.09% vs UMDD's -86.24%.

Which ETF is better, URTY or UMDD?

On 10-year performance, UMDD leads with 11.97% vs 8.17% for URTY. Both ETFs have the same 0.95% expense ratio. On volatility, UMDD has been the lower-risk option at 13.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URTY or UMDD?

Over the 10-year period, UMDD has performed better with a 11.97% return vs 8.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URTY or UMDD?

URTY and UMDD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, URTY or UMDD?

UMDD has the higher dividend yield at 0.76%, compared with 0.62% for URTY.

What is the main difference between URTY and UMDD?

URTY tracks Russell 2000 Index (300%), while UMDD tracks S&P MidCap 400 Index (300%).

Which has better risk-adjusted returns?

URTY currently has the higher Sharpe Ratio (2.43 vs 1.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.