UYG vs. FBGX

Last updated Jun 16, 2026

UYG (ProShares Ultra Financials) and FBGX (UBS AG FI Enhanced Large Cap Growth ETN) are both Leveraged Equities funds - UYG tracks the Dow Jones U.S. Financials Index (200%) while FBGX tracks the Russell 1000 Growth Index (200%). Both are passively managed. A 0.60 correlation means they provide meaningful diversification when combined. UYG charges 0.95%/yr vs 1.29%/yr for FBGX.

Performance

UYG vs. FBGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Financials (UYG) and UBS AG FI Enhanced Large Cap Growth ETN (FBGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UYG

• 1D: 0.69%
• 1M: 8.96%
• YTD: -7.22%
• 6M: -7.53%
• 1Y: 9.46%
• 3Y*: 28.71%
• 5Y*: 11.18%
• 10Y*: 17.78%

FBGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UYG vs. FBGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UYG ProShares Ultra Financials	-7.22%	19.77%	55.71%	22.14%	-32.11%	76.26%	-20.32%	66.15%	-22.61%	39.28%
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	35.73%	83.74%	-56.41%	57.04%	65.79%	75.84%	-16.58%	64.01%

Correlation

The correlation between UYG and FBGX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 11, 2014	0.60

The correlation between UYG and FBGX shifts across timeframes, from 0.24 (3 years) to 0.60 (all time), reflecting how their relationship changes across market environments.

UYG vs. FBGX - Sectors Allocation Comparison

Sectors	UYG	FBGX
Financial Services	98.0%	0.0%
Technology	1.8%	0.0%
Industrials	0.2%	0.0%
Basic Materials	-	0.0%
Communication Services	-	0.0%
Consumer Cyclical	-	0.0%
Consumer Defensive	-	0.0%
Energy	-	0.0%
Healthcare	-	0.0%
Real Estate	-	0.0%
Utilities	-	0.0%

Return for Risk

UYG vs. FBGX — Risk / Return Rank

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

UYG

UYG Risk / Return Rank: 14
UYG Sharpe Ratio Rank: 14
UYG Sortino Ratio Rank: 14
UYG Omega Ratio Rank: 14
UYG Calmar Ratio Rank: 13
UYG Martin Ratio Rank: 13

FBGX

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

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.

UYG vs. FBGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Financials (UYG) and UBS AG FI Enhanced Large Cap Growth ETN (FBGX). 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.

	UYG	FBGX	Difference
Sharpe ratio: Return per unit of total volatility	0.33	—	—
Sortino ratio: Return per unit of downside risk	0.63	—	—
Omega ratio: Gain probability vs. loss probability	1.08	—	—
Calmar ratio: Return relative to maximum drawdown	0.33	—	—
Martin ratio: Return relative to average drawdown	0.78	—	—

Drawdowns

Drawdown Indicators

	UYG	FBGX	Difference
Max Drawdown Largest peak-to-trough decline	-97.90%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.98%	—	—
Current Drawdown Current decline from peak	-12.37%	—	—
Average Drawdown Average peak-to-trough decline	-63.28%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	12.17%	—	—

Volatility

Volatility by Period

	UYG	FBGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.13%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.23%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.07%	—	—

UYG vs. FBGX - Expense Ratio Comparison

UYG has a 0.95% expense ratio, which is lower than FBGX's 1.29% expense ratio.

Dividends

UYG vs. FBGX - Dividend Comparison

UYG's dividend yield for the trailing twelve months is around 12.59%, while FBGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UYG ProShares Ultra Financials	12.59%	11.72%	0.51%	0.79%	0.77%	9.39%	0.66%	0.90%	1.28%	0.56%	0.76%	0.72%

Frequently Asked Questions

Can I hold both UYG and FBGX in my portfolio?

UYG and FBGX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UYG or FBGX?

On fees, UYG is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UYG or FBGX?

UYG is cheaper with a 0.95% expense ratio, compared with 1.29% for FBGX.

Which ETF pays a higher dividend yield, UYG or FBGX?

UYG has the higher dividend yield at 12.59%, compared with 0.00% for FBGX.

What is the main difference between UYG and FBGX?

UYG tracks Dow Jones U.S. Financials Index (200%), while FBGX tracks Russell 1000 Growth Index (200%). They also come from different issuers: ProShares and UBS. Their fees differ too: 0.95% for UYG and 1.29% for FBGX.