UYM vs. FXZ

Last updated Jun 3, 2026

UYM (ProShares Ultra Basic Materials) and FXZ (First Trust Materials AlphaDEX Fund) are both exchange-traded funds - UYM is a Leveraged Equities fund tracking the Dow Jones U.S. Basic Materials Index (200%), while FXZ is a Materials fund tracking the StrataQuant Materials Index. Both are passively managed. Over the past 10 years, UYM returned 11.85%/yr vs 11.72%/yr for FXZ. Their correlation of 0.90 suggests significant overlap in exposure. UYM charges 0.95%/yr vs 0.67%/yr for FXZ.

Performance

UYM vs. FXZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Basic Materials (UYM) and First Trust Materials AlphaDEX Fund (FXZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UYM achieves a 25.08% return, which is significantly lower than FXZ's 30.15% return. Both investments have delivered pretty close results over the past 10 years, with UYM having a 11.85% annualized return and FXZ not far behind at 11.72%.

UYM

• 1D: 2.40%
• 1M: -0.29%
• YTD: 25.08%
• 6M: 32.48%
• 1Y: 34.35%
• 3Y*: 13.32%
• 5Y*: 3.40%
• 10Y*: 11.85%

FXZ

• 1D: 1.87%
• 1M: 5.34%
• YTD: 30.15%
• 6M: 35.58%
• 1Y: 56.06%
• 3Y*: 13.23%
• 5Y*: 8.00%
• 10Y*: 11.72%

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

UYM vs. FXZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UYM ProShares Ultra Basic Materials	25.08%	9.46%	-8.00%	17.47%	-23.10%	54.58%	16.56%	35.09%	-35.68%	51.51%
FXZ First Trust Materials AlphaDEX Fund	30.15%	16.25%	-16.31%	16.27%	-0.92%	30.84%	22.52%	21.52%	-22.62%	23.72%

Correlation

The correlation between UYM and FXZ is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since May 11, 2007	0.90

The correlation between UYM and FXZ has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

UYM vs. FXZ - Sectors Allocation Comparison

Sectors	UYM	FXZ
Basic Materials	87.6%	75.7%
Consumer Cyclical	12.4%	3.9%
Industrials	1.1%	20.4%
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

UYM vs. FXZ — Risk / Return Rank

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

UYM

UYM Risk / Return Rank: 28
UYM Sharpe Ratio Rank: 28
UYM Sortino Ratio Rank: 29
UYM Omega Ratio Rank: 27
UYM Calmar Ratio Rank: 30
UYM Martin Ratio Rank: 28

FXZ

FXZ Risk / Return Rank: 77
FXZ Sharpe Ratio Rank: 78
FXZ Sortino Ratio Rank: 72
FXZ Omega Ratio Rank: 69
FXZ Calmar Ratio Rank: 84
FXZ Martin Ratio Rank: 83

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.

UYM vs. FXZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Basic Materials (UYM) and First Trust Materials AlphaDEX Fund (FXZ). 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.

	UYM	FXZ	Difference
Sharpe ratio Return per unit of total volatility	1.02	2.58	-1.55
Sortino ratio Return per unit of downside risk	1.55	3.34	-1.79
Omega ratio Gain probability vs. loss probability	1.18	1.42	-0.24
Calmar ratio Return relative to maximum drawdown	1.49	4.56	-3.06
Martin ratio Return relative to average drawdown	4.09	17.17	-13.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UYM vs. FXZ - Sharpe Ratio Comparison

The current UYM Sharpe Ratio is 1.02, which is lower than the FXZ Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of UYM and FXZ, 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

	UYM	FXZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	2.58	-1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.33	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.47	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.35	-0.27

Drawdowns

UYM vs. FXZ - Drawdown Comparison

The maximum UYM drawdown since its inception was -92.77%, which is greater than FXZ's maximum drawdown of -65.46%. Use the drawdown chart below to compare losses from any high point for UYM and FXZ.

Drawdown Indicators

	UYM	FXZ	Difference
Max Drawdown Largest peak-to-trough decline	-92.77%	-65.46%	-27.31%
Max Drawdown (1Y) Largest decline over 1 year	-23.85%	-12.75%	-11.10%
Max Drawdown (3Y) Largest decline over 3 years	-43.88%	-33.99%	-9.89%
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	-33.99%	-14.26%
Max Drawdown (10Y) Largest decline over 10 years	-73.31%	-49.41%	-23.90%
Current Drawdown Current decline from peak	-9.40%	0.00%	-9.40%
Average Drawdown Average peak-to-trough decline	-42.12%	-11.36%	-30.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.72%	3.38%	+5.34%

Volatility

UYM vs. FXZ - Volatility Comparison

ProShares Ultra Basic Materials (UYM) has a higher volatility of 12.00% compared to First Trust Materials AlphaDEX Fund (FXZ) at 7.08%. This indicates that UYM's price experiences larger fluctuations and is considered to be riskier than FXZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UYM	FXZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.00%	7.08%	+4.92%
Volatility (6M) Calculated over the trailing 6-month period	25.85%	16.39%	+9.46%
Volatility (1Y) Calculated over the trailing 1-year period	33.72%	21.89%	+11.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.26%	24.13%	+15.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.77%	24.88%	+17.89%

UYM vs. FXZ - Expense Ratio Comparison

UYM has a 0.95% expense ratio, which is higher than FXZ's 0.67% expense ratio.

Dividends

UYM vs. FXZ - Dividend Comparison

UYM's dividend yield for the trailing twelve months is around 1.21%, less than FXZ's 1.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXZ First Trust Materials AlphaDEX Fund	1.38%	1.74%	1.81%	1.97%	1.56%	1.11%	1.51%	1.58%	1.38%	1.01%	1.19%	1.26%
UYM ProShares Ultra Basic Materials	1.21%	1.47%	0.98%	0.28%	0.88%	0.52%	0.56%	1.24%	0.94%	0.38%	0.55%	0.42%

Frequently Asked Questions

Can I hold both UYM and FXZ in my portfolio?

With a correlation of 0.92, UYM and FXZ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, UYM or FXZ?

UYM has higher volatility (12.00%) compared to FXZ (7.08%). In terms of maximum drawdown, UYM dropped -92.77% vs FXZ's -65.46%.

Which ETF is better, UYM or FXZ?

On 10-year performance, UYM leads with 11.85% vs 11.72% for FXZ. On fees, FXZ is cheaper at 0.67% per year. On volatility, FXZ has been the lower-risk option at 7.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UYM or FXZ?

Over the 10-year period, UYM has performed better with a 11.85% return vs 11.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UYM or FXZ?

FXZ is cheaper with a 0.67% expense ratio, compared with 0.95% for UYM.

Which ETF pays a higher dividend yield, UYM or FXZ?

FXZ has the higher dividend yield at 1.38%, compared with 1.21% for UYM.

What is the main difference between UYM and FXZ?

UYM is categorized as Leveraged Equities, while FXZ is Materials. UYM tracks Dow Jones U.S. Basic Materials Index (200%), while FXZ tracks StrataQuant Materials Index. They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.95% for UYM and 0.67% for FXZ.

Which has better risk-adjusted returns?

FXZ currently has the higher Sharpe Ratio (2.58 vs 1.02), 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.