UWM vs. VMO
UWM (ProShares Ultra Russell2000) is Leveraged Equities fund tracking the Russell 2000 Index (200%), while VMO (Invesco Municipal Opportunity Trust) is a stock. Over the past 10 years, UWM returned 11.49%/yr vs 1.37%/yr for VMO. Their 0.16 correlation means their historical movements had little consistent relationship.
Performance
UWM vs. VMO - Performance Comparison
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Returns By Period
In the year-to-date period, UWM achieves a 38.52% return, which is significantly higher than VMO's 5.24% return. Over the past 10 years, UWM has outperformed VMO with an annualized return of 11.49%, while VMO has yielded a comparatively lower 1.37% annualized return.
UWM
- 1D
- 3.34%
- 1M
- -1.55%
- 6M
- 23.05%
- YTD
- 38.52%
- 1Y
- 76.90%
- 3Y*
- 22.09%
- 5Y*
- 4.52%
- 10Y*
- 11.49%
- ALL TIME*
- 7.33%
VMO
- 1D
- -0.31%
- 1M
- -2.11%
- 6M
- 3.16%
- YTD
- 5.24%
- 1Y
- 13.85%
- 3Y*
- 8.45%
- 5Y*
- -0.84%
- 10Y*
- 1.37%
- ALL TIME*
- 3.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.74M | $17.63M | $19.86M | |
| $1.87M | $2.14M | $2.43M |
UWM vs. VMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UWM ProShares Ultra Russell2000 | 38.52% | 13.59% | 11.32% | 22.62% | -43.69% | 23.91% | 16.57% | 48.62% | -25.89% | 26.92% |
VMO Invesco Municipal Opportunity Trust | 5.24% | 6.57% | 7.73% | 1.54% | -24.29% | 12.95% | 8.89% | 16.23% | -4.54% | 3.05% |
Correlation
The correlation between UWM and VMO is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.32 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2007 | 0.16 |
The correlation between UWM and VMO shifts across timeframes, from 0.16 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UWM vs. VMO — Risk / Return Rank
UWM
VMO
UWM vs. VMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Russell2000 (UWM) and Invesco Municipal Opportunity Trust (VMO). 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 | VMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.47 | 2.11 | +1.36 |
| Martin ratioReturn relative to average drawdown | 11.84 | 8.55 | +3.30 |
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Drawdowns
UWM vs. VMO - Drawdown Comparison
The maximum UWM drawdown since its inception was -88.21%, which is greater than VMO's maximum drawdown of -50.11%. Use the drawdown chart below to compare losses from any high point for UWM and VMO.
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Drawdown Indicators
| UWM | VMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.21% | -50.11% | -38.10% |
Max Drawdown (1Y)Largest decline over 1 year | -22.28% | -6.59% | -15.69% |
Max Drawdown (3Y)Largest decline over 3 years | -49.79% | -14.54% | -35.25% |
Max Drawdown (5Y)Largest decline over 5 years | -61.62% | -37.70% | -23.92% |
Max Drawdown (10Y)Largest decline over 10 years | -71.46% | -37.70% | -33.76% |
Current DrawdownCurrent decline from peak | -3.36% | -7.51% | +4.15% |
Average DrawdownAverage peak-to-trough decline | -30.64% | -9.85% | -20.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.51% | 1.62% | +4.89% |
Volatility
UWM vs. VMO - Volatility Comparison
ProShares Ultra Russell2000 (UWM) has a higher volatility of 8.22% compared to Invesco Municipal Opportunity Trust (VMO) at 2.16%. This indicates that UWM's price experiences larger fluctuations and is considered to be riskier than VMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UWM | VMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.22% | 2.16% | +6.06% |
Volatility (6M)Calculated over the trailing 6-month period | 27.96% | 7.15% | +20.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.36% | 8.80% | +29.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.94% | 11.56% | +33.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.03% | 12.61% | +33.42% |
Dividends
UWM vs. VMO - Dividend Comparison
UWM's dividend yield for the trailing twelve months is around 0.81%, less than VMO's 7.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UWM ProShares Ultra Russell2000 | 0.81% | 1.05% | 1.16% | 0.34% | 0.40% | 0.00% | 0.07% | 0.55% | 0.41% | 0.11% | 0.27% | 0.23% |
VMO Invesco Municipal Opportunity Trust | 7.79% | 7.84% | 6.44% | 4.47% | 5.69% | 4.64% | 4.66% | 4.94% | 5.95% | 5.98% | 6.73% | 6.33% |
Frequently Asked Questions
UWM and VMO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UWM has higher volatility (8.22%) compared to VMO (2.16%). In terms of maximum drawdown, UWM dropped -88.21% vs VMO's -50.11%.
UWM currently has the higher Sharpe Ratio (2.02 vs 1.58), 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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