UWM vs. UCC
UWM (ProShares Ultra Russell2000) and UCC (ProShares Ultra Consumer Services) are both Leveraged Equities funds from ProShares - UWM tracks the Russell 2000 Index (200%) while UCC tracks the Dow Jones U.S. Consumer Services Index (200%). Both are passively managed. Over the past 10 years, UWM returned 11.58%/yr vs 12.81%/yr for UCC. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
UWM vs. UCC - Performance Comparison
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Returns By Period
In the year-to-date period, UWM achieves a 35.49% return, which is significantly higher than UCC's -12.08% return. Over the past 10 years, UWM has underperformed UCC with an annualized return of 11.58%, while UCC has yielded a comparatively higher 12.81% annualized return.
UWM
- 1D
- -1.18%
- 1M
- -2.44%
- 6M
- 16.61%
- YTD
- 35.49%
- 1Y
- 61.30%
- 3Y*
- 21.02%
- 5Y*
- 3.30%
- 10Y*
- 11.58%
- ALL TIME*
- 7.22%
UCC
- 1D
- -1.58%
- 1M
- -4.80%
- 6M
- -15.88%
- YTD
- -12.08%
- 1Y
- -1.65%
- 3Y*
- 10.74%
- 5Y*
- -2.17%
- 10Y*
- 12.81%
- ALL TIME*
- 13.01%
UWM vs. UCC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UWM ProShares Ultra Russell2000 | 35.49% | 13.59% | 11.32% | 22.62% | -43.69% | 23.91% | 16.57% | 48.62% | -25.89% | 26.92% |
UCC ProShares Ultra Consumer Services | -12.08% | 2.21% | 44.24% | 61.67% | -57.59% | 20.92% | 46.55% | 53.76% | -4.94% | 42.05% |
Correlation
The correlation between UWM and UCC is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007 | 0.71 |
The correlation between UWM and UCC has been stable across timeframes, ranging from 0.65 to 0.75 - a consistent structural relationship.
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Return for Risk
UWM vs. UCC — Risk / Return Rank
UWM
UCC
UWM vs. UCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Russell2000 (UWM) and ProShares Ultra Consumer Services (UCC). 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.
| UWM | UCC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.65 | ||
| Sortino ratioReturn per unit of downside risk | +2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.02 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | -0.06 | +2.82 |
| Martin ratioReturn relative to average drawdown | 9.40 | -0.14 | +9.54 |
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Drawdowns
UWM vs. UCC - Drawdown Comparison
The maximum UWM drawdown since its inception was -88.21%, which is greater than UCC's maximum drawdown of -83.05%. Use the drawdown chart below to compare losses from any high point for UWM and UCC.
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Drawdown Indicators
| UWM | UCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.21% | -83.05% | -5.16% |
Max Drawdown (1Y)Largest decline over 1 year | -22.28% | -29.14% | +6.86% |
Max Drawdown (3Y)Largest decline over 3 years | -49.79% | -48.01% | -1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -61.62% | -61.77% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -71.46% | -61.77% | -9.69% |
Current DrawdownCurrent decline from peak | -5.47% | -21.50% | +16.03% |
Average DrawdownAverage peak-to-trough decline | -30.70% | -21.78% | -8.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 11.57% | -5.03% |
Volatility
UWM vs. UCC - Volatility Comparison
The current volatility for ProShares Ultra Russell2000 (UWM) is 7.08%, while ProShares Ultra Consumer Services (UCC) has a volatility of 10.88%. This indicates that UWM experiences smaller price fluctuations and is considered to be less risky than UCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UWM | UCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.08% | 10.88% | -3.80% |
Volatility (6M)Calculated over the trailing 6-month period | 28.07% | 28.45% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.41% | 37.40% | +1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.95% | 43.97% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.00% | 40.78% | +5.22% |
UWM vs. UCC - Expense Ratio Comparison
Both UWM and UCC have an expense ratio of 0.95%.
Dividends
UWM vs. UCC - Dividend Comparison
UWM's dividend yield for the trailing twelve months is around 0.83%, less than UCC's 1.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UCC ProShares Ultra Consumer Services | 1.31% | 1.10% | 0.17% | 0.04% | 0.25% | 0.00% | 0.02% | 0.17% | 0.18% | 0.14% | 0.21% | 0.14% |
UWM ProShares Ultra Russell2000 | 0.83% | 1.05% | 1.16% | 0.34% | 0.40% | 0.00% | 0.07% | 0.55% | 0.41% | 0.11% | 0.27% | 0.23% |
Frequently Asked Questions
UWM and UCC have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCC has higher volatility (10.88%) compared to UWM (7.08%). In terms of maximum drawdown, UWM dropped -88.21% vs UCC's -83.05%.
On 10-year performance, UCC leads with 12.81% vs 11.58% for UWM. Both ETFs have the same 0.95% expense ratio. On volatility, UWM has been the lower-risk option at 7.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UCC has performed better with a 12.81% return vs 11.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UWM and UCC have the same expense ratio: 0.95% per year.
UCC has the higher dividend yield at 1.31%, compared with 0.83% for UWM.
UWM tracks Russell 2000 Index (200%), while UCC tracks Dow Jones U.S. Consumer Services Index (200%).
UWM currently has the higher Sharpe Ratio (1.61 vs -0.04), 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.
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