UYM vs. FXZ

Last updated Aug 2, 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 10.90%/yr vs 10.25%/yr for FXZ. Their correlation of 0.90 means they have usually moved in the same direction. 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

The year-to-date returns for both investments are quite close, with UYM having a 18.79% return and FXZ slightly higher at 18.92%. Over the past 10 years, UYM has outperformed FXZ with an annualized return of 10.90%, while FXZ has yielded a comparatively lower 10.25% annualized return.

UYM

• 1D: -4.74%
• 1M: -6.27%
• 6M: 1.44%
• YTD: 18.79%
• 1Y: 28.30%
• 3Y*: 5.71%
• 5Y*: 4.36%
• 10Y*: 10.90%
• ALL TIME*: 4.10%

FXZ

• 1D: -1.69%
• 1M: -2.68%
• 6M: 7.26%
• YTD: 18.92%
• 1Y: 38.67%
• 3Y*: 5.94%
• 5Y*: 7.59%
• 10Y*: 10.25%
• ALL TIME*: 8.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FXZ First Trust Materials AlphaDEX Fund	$3.44M	$3.68M	$4.56M
UYM ProShares Ultra Basic Materials	$206.44K	$227.31K	$267.93K

UYM vs. FXZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UYM ProShares Ultra Basic Materials	18.79%	9.46%	-8.00%	17.47%	-23.10%	54.58%	16.56%	35.09%	-35.68%	51.51%
FXZ First Trust Materials AlphaDEX Fund	18.92%	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 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since May 10, 2007	0.90

The correlation between UYM and FXZ has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

UYM vs. FXZ - Sectors Allocation Comparison

Sectors	UYM	FXZ
Basic Materials	84.6%	72.3%
Consumer Cyclical	15.4%	4.3%
Industrials	1.1%	23.4%
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

UYM vs. FXZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UYM

UYM Risk / Return Rank: 31
UYM Sharpe Ratio Rank: 30
UYM Sortino Ratio Rank: 32
UYM Omega Ratio Rank: 30
UYM Calmar Ratio Rank: 32
UYM Martin Ratio Rank: 31

FXZ

FXZ Risk / Return Rank: 70
FXZ Sharpe Ratio Rank: 69
FXZ Sortino Ratio Rank: 68
FXZ Omega Ratio Rank: 62
FXZ Calmar Ratio Rank: 79
FXZ Martin Ratio Rank: 71

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	UYM	FXZ	Difference
Sharpe ratio: Return per unit of total volatility	0.73	1.57	-0.84
Sortino ratio: Return per unit of downside risk	1.22	2.23	-1.01
Omega ratio: Gain probability vs. loss probability	1.14	1.27	-0.12
Calmar ratio: Return relative to maximum drawdown	1.09	2.81	-1.72
Martin ratio: Return relative to average drawdown	2.76	8.65	-5.89

UYM vs. FXZ - Sharpe Ratio Comparison

The current UYM Sharpe Ratio is 0.73, which is lower than the FXZ Sharpe Ratio of 1.57. 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.

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	-13.95%	-9.42%	-4.53%
Average Drawdown Average peak-to-trough decline	-41.85%	-11.31%	-30.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.37%	4.13%	+5.24%

Volatility

UYM vs. FXZ - Volatility Comparison

ProShares Ultra Basic Materials (UYM) has a higher volatility of 11.64% compared to First Trust Materials AlphaDEX Fund (FXZ) at 6.20%. 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	11.64%	6.20%	+5.44%
Volatility (6M) Calculated over the trailing 6-month period	28.50%	17.54%	+10.96%
Volatility (1Y) Calculated over the trailing 1-year period	35.44%	22.84%	+12.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.46%	24.15%	+15.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.76%	24.94%	+17.82%

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 1.19%, less than FXZ's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXZ First Trust Materials AlphaDEX Fund	1.42%	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	1.19%	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?

UYM and FXZ have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UYM or FXZ?

UYM has higher volatility (11.64%) compared to FXZ (6.20%). 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 10.90% vs 10.25% for FXZ. On fees, FXZ is cheaper at 0.67% per year. On volatility, FXZ has been the lower-risk option at 6.20%. 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 10.90% return vs 10.25%. 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 1.42%, compared with 1.19% 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 (1.57 vs 0.73), 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.