UWM vs. VGT

Last updated Jun 4, 2026

UWM (ProShares Ultra Russell2000) and VGT (Vanguard Information Technology ETF) are both exchange-traded funds - UWM is a Leveraged Equities fund tracking the Russell 2000 Index (200%), while VGT is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, UWM returned 12.16%/yr vs 25.78%/yr for VGT. A 0.76 correlation means they provide meaningful diversification when combined. UWM charges 0.95%/yr vs 0.09%/yr for VGT.

Performance

UWM vs. VGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Russell2000 (UWM) and Vanguard Information Technology ETF (VGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with UWM having a 31.87% return and VGT slightly lower at 31.64%. Over the past 10 years, UWM has underperformed VGT with an annualized return of 12.16%, while VGT has yielded a comparatively higher 25.78% annualized return.

UWM

• 1D: -2.69%
• 1M: 6.41%
• YTD: 31.87%
• 6M: 28.56%
• 1Y: 76.77%
• 3Y*: 25.03%
• 5Y*: 1.71%
• 10Y*: 12.16%

VGT

• 1D: -1.48%
• 1M: 18.07%
• YTD: 31.64%
• 6M: 30.51%
• 1Y: 60.15%
• 3Y*: 33.48%
• 5Y*: 22.23%
• 10Y*: 25.78%

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

UWM vs. VGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UWM ProShares Ultra Russell2000	31.87%	13.59%	11.32%	22.62%	-43.69%	23.91%	16.57%	48.62%	-25.89%	26.92%
VGT Vanguard Information Technology ETF	31.64%	21.77%	29.30%	52.66%	-29.70%	30.45%	46.04%	48.62%	2.46%	37.08%

Correlation

The correlation between UWM and VGT is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jan 26, 2007	0.76

The correlation between UWM and VGT shifts across timeframes, from 0.65 (3 years) to 0.76 (all time), reflecting how their relationship changes across market environments.

UWM vs. VGT - Sectors Allocation Comparison

Sectors	UWM	VGT
Industrials	17.7%	0.4%
Technology	17.0%	98.5%
Healthcare	16.5%	0.0%
Financial Services	15.8%	0.5%
Consumer Cyclical	8.4%	0.1%
Real Estate	6.1%	-
Energy	6.1%	0.3%
Basic Materials	4.8%	0.0%
Utilities	2.9%	-
Communication Services	2.4%	0.5%
Consumer Defensive	2.4%	-

Return for Risk

UWM vs. VGT — Risk / Return Rank

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

UWM

UWM Risk / Return Rank: 59
UWM Sharpe Ratio Rank: 60
UWM Sortino Ratio Rank: 54
UWM Omega Ratio Rank: 49
UWM Calmar Ratio Rank: 69
UWM Martin Ratio Rank: 65

VGT

VGT Risk / Return Rank: 76
VGT Sharpe Ratio Rank: 87
VGT Sortino Ratio Rank: 79
VGT Omega Ratio Rank: 78
VGT Calmar Ratio Rank: 72
VGT Martin Ratio Rank: 64

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.

UWM vs. VGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Russell2000 (UWM) and Vanguard Information Technology ETF (VGT). 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.

	UWM	VGT	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.95	-0.91
Sortino ratio: Return per unit of downside risk	2.63	3.63	-1.00
Omega ratio: Gain probability vs. loss probability	1.31	1.47	-0.16
Calmar ratio: Return relative to maximum drawdown	3.46	3.69	-0.22
Martin ratio: Return relative to average drawdown	11.85	11.77	+0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UWM vs. VGT - Sharpe Ratio Comparison

The current UWM Sharpe Ratio is 2.03, which is lower than the VGT Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of UWM and VGT, 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

	UWM	VGT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	2.95	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.89	-0.85
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	1.05	-0.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.68	-0.54

Drawdowns

UWM vs. VGT - Drawdown Comparison

The maximum UWM drawdown since its inception was -88.21%, which is greater than VGT's maximum drawdown of -54.63%. Use the drawdown chart below to compare losses from any high point for UWM and VGT.

Drawdown Indicators

	UWM	VGT	Difference
Max Drawdown Largest peak-to-trough decline	-88.21%	-54.63%	-33.58%
Max Drawdown (1Y) Largest decline over 1 year	-22.28%	-16.40%	-5.88%
Max Drawdown (3Y) Largest decline over 3 years	-49.79%	-27.23%	-22.56%
Max Drawdown (5Y) Largest decline over 5 years	-61.62%	-35.07%	-26.55%
Max Drawdown (10Y) Largest decline over 10 years	-71.46%	-35.07%	-36.39%
Current Drawdown Current decline from peak	-3.55%	-1.48%	-2.07%
Average Drawdown Average peak-to-trough decline	-30.88%	-7.95%	-22.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	5.13%	+1.37%

Volatility

UWM vs. VGT - Volatility Comparison

ProShares Ultra Russell2000 (UWM) has a higher volatility of 11.45% compared to Vanguard Information Technology ETF (VGT) at 6.39%. This indicates that UWM's price experiences larger fluctuations and is considered to be riskier than VGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UWM	VGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.45%	6.39%	+5.06%
Volatility (6M) Calculated over the trailing 6-month period	26.82%	16.07%	+10.75%
Volatility (1Y) Calculated over the trailing 1-year period	38.04%	20.57%	+17.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.01%	25.18%	+19.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.08%	24.60%	+21.48%

UWM vs. VGT - Expense Ratio Comparison

UWM has a 0.95% expense ratio, which is higher than VGT's 0.09% expense ratio.

Dividends

UWM vs. VGT - Dividend Comparison

UWM's dividend yield for the trailing twelve months is around 0.78%, more than VGT's 0.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UWM ProShares Ultra Russell2000	0.78%	1.05%	1.16%	0.34%	0.40%	0.00%	0.07%	0.55%	0.41%	0.11%	0.27%	0.23%
VGT Vanguard Information Technology ETF	0.31%	0.40%	0.60%	0.65%	0.91%	0.64%	0.82%	1.11%	1.29%	0.99%	1.31%	1.28%

Frequently Asked Questions

Can I hold both UWM and VGT in my portfolio?

UWM and VGT have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UWM or VGT?

UWM has higher volatility (11.45%) compared to VGT (6.39%). In terms of maximum drawdown, UWM dropped -88.21% vs VGT's -54.63%.

Which ETF is better, UWM or VGT?

On 10-year performance, VGT leads with 25.78% vs 12.16% for UWM. On fees, VGT is cheaper at 0.09% per year. On volatility, VGT has been the lower-risk option at 6.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UWM or VGT?

Over the 10-year period, VGT has performed better with a 25.78% return vs 12.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UWM or VGT?

VGT is cheaper with a 0.09% expense ratio, compared with 0.95% for UWM.

Which ETF pays a higher dividend yield, UWM or VGT?

UWM has the higher dividend yield at 0.78%, compared with 0.31% for VGT.

What is the main difference between UWM and VGT?

UWM is categorized as Leveraged Equities, while VGT is Technology Equities. UWM tracks Russell 2000 Index (200%), while VGT tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.95% for UWM and 0.09% for VGT.

Which has better risk-adjusted returns?

VGT currently has the higher Sharpe Ratio (2.95 vs 2.03), 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.