UYG vs. IYW
UYG (ProShares Ultra Financials) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - UYG is a Leveraged Equities fund tracking the Dow Jones U.S. Financials Index (200%), while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, UYG returned 18.26%/yr vs 24.89%/yr for IYW. Their 0.62 correlation means they have sometimes moved together and sometimes differently. UYG charges 0.95%/yr vs 0.38%/yr for IYW.
Performance
UYG vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, UYG achieves a 8.08% return, which is significantly lower than IYW's 27.06% return. Over the past 10 years, UYG has underperformed IYW with an annualized return of 18.26%, while IYW has yielded a comparatively higher 24.89% annualized return.
UYG
- 1D
- 1.72%
- 1M
- 7.58%
- 6M
- 14.38%
- YTD
- 8.08%
- 1Y
- 18.59%
- 3Y*
- 32.03%
- 5Y*
- 14.13%
- 10Y*
- 18.26%
- ALL TIME*
- 0.88%
IYW
- 1D
- 4.05%
- 1M
- 4.14%
- 6M
- 30.17%
- YTD
- 27.06%
- 1Y
- 40.11%
- 3Y*
- 32.89%
- 5Y*
- 19.64%
- 10Y*
- 24.89%
- ALL TIME*
- 9.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $142.55M | $137.41M | $190.19M | |
| $3.07M | $2.20M | $1.58M |
UYG vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UYG ProShares Ultra Financials | 8.08% | 19.77% | 55.71% | 22.14% | -32.11% | 76.26% | -20.32% | 66.15% | -22.61% | 39.28% |
IYW iShares U.S. Technology ETF | 27.06% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between UYG and IYW is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.35 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | 0.62 |
Over the past year, the correlation between UYG and IYW has dropped to 0.24 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
UYG vs. IYW — Risk / Return Rank
UYG
IYW
UYG vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Financials (UYG) and iShares U.S. Technology ETF (IYW). 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 | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.28 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | 2.26 | -1.62 |
| Martin ratioReturn relative to average drawdown | 1.51 | 6.65 | -5.15 |
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Drawdowns
UYG vs. IYW - Drawdown Comparison
The maximum UYG drawdown since its inception was -97.90%, which is greater than IYW's maximum drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for UYG and IYW.
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Drawdown Indicators
| UYG | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.90% | -81.90% | -16.00% |
Max Drawdown (1Y)Largest decline over 1 year | -28.91% | -17.81% | -11.10% |
Max Drawdown (3Y)Largest decline over 3 years | -30.35% | -26.47% | -3.88% |
Max Drawdown (5Y)Largest decline over 5 years | -47.77% | -39.44% | -8.33% |
Max Drawdown (10Y)Largest decline over 10 years | -69.98% | -39.44% | -30.54% |
Current DrawdownCurrent decline from peak | 0.00% | -2.43% | +2.43% |
Average DrawdownAverage peak-to-trough decline | -62.88% | -34.47% | -28.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.35% | 6.04% | +6.31% |
Volatility
UYG vs. IYW - Volatility Comparison
The current volatility for ProShares Ultra Financials (UYG) is 7.74%, while iShares U.S. Technology ETF (IYW) has a volatility of 8.79%. This indicates that UYG experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UYG | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.74% | 8.79% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 22.27% | 20.29% | +1.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.28% | 24.09% | +5.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.04% | 26.56% | +9.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.91% | 25.40% | +15.51% |
UYG vs. IYW - Expense Ratio Comparison
UYG has a 0.95% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
UYG vs. IYW - Dividend Comparison
UYG's dividend yield for the trailing twelve months is around 10.80%, more than IYW's 0.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 0.10% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
UYG ProShares Ultra Financials | 10.80% | 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
UYG and IYW have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (8.79%) compared to UYG (7.74%). In terms of maximum drawdown, UYG dropped -97.90% vs IYW's -81.90%.
On 10-year performance, IYW leads with 24.89% vs 18.26% for UYG. On fees, IYW is cheaper at 0.38% per year. On volatility, UYG has been the lower-risk option at 7.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 24.89% return vs 18.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.95% for UYG.
UYG has the higher dividend yield at 10.80%, compared with 0.10% for IYW.
UYG is categorized as Leveraged Equities, while IYW is Technology Equities. UYG tracks Dow Jones U.S. Financials Index (200%), while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for UYG and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (1.68 vs 0.64), 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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