UYG vs. KCE
Compare and contrast key facts about ProShares Ultra Financials (UYG) and SPDR S&P Capital Markets ETF (KCE).
UYG and KCE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UYG is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Financials Index (200%). It was launched on Jan 30, 2007. KCE is a passively managed fund by State Street that tracks the performance of the S&P Capital Markets Select Industry Index. It was launched on Nov 8, 2005. Both UYG and KCE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UYG vs. KCE - Performance Comparison
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UYG vs. KCE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UYG ProShares Ultra Financials | -19.79% | 19.77% | 55.71% | 22.14% | -32.11% | 76.26% | -20.32% | 66.15% | -22.61% | 39.28% |
KCE SPDR S&P Capital Markets ETF | -7.74% | 10.76% | 37.51% | 32.04% | -22.14% | 40.05% | 30.82% | 27.13% | -15.63% | 32.01% |
Returns By Period
In the year-to-date period, UYG achieves a -19.79% return, which is significantly lower than KCE's -7.74% return. Both investments have delivered pretty close results over the past 10 years, with UYG having a 16.07% annualized return and KCE not far behind at 15.87%.
UYG
- 1D
- 4.23%
- 1M
- -7.23%
- YTD
- -19.79%
- 6M
- -17.96%
- 1Y
- -8.20%
- 3Y*
- 25.33%
- 5Y*
- 11.21%
- 10Y*
- 16.07%
KCE
- 1D
- 2.64%
- 1M
- -4.53%
- YTD
- -7.74%
- 6M
- -9.06%
- 1Y
- 11.03%
- 3Y*
- 20.54%
- 5Y*
- 11.98%
- 10Y*
- 15.87%
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UYG vs. KCE - Expense Ratio Comparison
UYG has a 0.95% expense ratio, which is higher than KCE's 0.35% expense ratio.
Return for Risk
UYG vs. KCE — Risk / Return Rank
UYG
KCE
UYG vs. KCE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Financials (UYG) and SPDR S&P Capital Markets ETF (KCE). 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.
| UYG | KCE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.21 | 0.43 | -0.64 |
Sortino ratioReturn per unit of downside risk | -0.04 | 0.75 | -0.79 |
Omega ratioGain probability vs. loss probability | 0.99 | 1.10 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | -0.20 | 0.66 | -0.86 |
Martin ratioReturn relative to average drawdown | -0.58 | 1.76 | -2.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UYG | KCE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.21 | 0.43 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.52 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.69 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.24 | -0.25 |
Correlation
The correlation between UYG and KCE is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
UYG vs. KCE - Dividend Comparison
UYG's dividend yield for the trailing twelve months is around 14.56%, more than KCE's 1.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UYG ProShares Ultra Financials | 14.56% | 11.72% | 0.51% | 0.79% | 0.77% | 9.39% | 0.66% | 0.90% | 1.28% | 0.56% | 0.76% | 0.72% |
KCE SPDR S&P Capital Markets ETF | 1.87% | 1.63% | 1.56% | 1.82% | 2.42% | 1.53% | 2.20% | 2.32% | 2.67% | 1.95% | 2.30% | 2.43% |
Drawdowns
UYG vs. KCE - Drawdown Comparison
The maximum UYG drawdown since its inception was -97.90%, which is greater than KCE's maximum drawdown of -74.00%. Use the drawdown chart below to compare losses from any high point for UYG and KCE.
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Drawdown Indicators
| UYG | KCE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.90% | -74.00% | -23.90% |
Max Drawdown (1Y)Largest decline over 1 year | -28.91% | -17.44% | -11.47% |
Max Drawdown (5Y)Largest decline over 5 years | -47.77% | -34.45% | -13.32% |
Max Drawdown (10Y)Largest decline over 10 years | -69.98% | -40.78% | -29.20% |
Current DrawdownCurrent decline from peak | -24.25% | -14.34% | -9.91% |
Average DrawdownAverage peak-to-trough decline | -63.78% | -22.94% | -40.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.08% | 6.49% | +3.59% |
Volatility
UYG vs. KCE - Volatility Comparison
ProShares Ultra Financials (UYG) has a higher volatility of 9.55% compared to SPDR S&P Capital Markets ETF (KCE) at 6.33%. This indicates that UYG's price experiences larger fluctuations and is considered to be riskier than KCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UYG | KCE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.55% | 6.33% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 23.04% | 15.64% | +7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.69% | 25.68% | +13.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.17% | 22.97% | +13.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.08% | 23.21% | +17.87% |