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UYM vs. IYW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UYM vs. IYW

Last updated Jun 3, 2026

UYM (ProShares Ultra Basic Materials) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - UYM is a Leveraged Equities fund tracking the Dow Jones U.S. Basic Materials 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, UYM returned 11.85%/yr vs 26.22%/yr for IYW. A 0.62 correlation means they provide meaningful diversification when combined. UYM charges 0.95%/yr vs 0.38%/yr for IYW.

Performance

UYM vs. IYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Basic Materials (UYM) and iShares U.S. Technology ETF (IYW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UYM achieves a 25.08% return, which is significantly lower than IYW's 30.23% return. Over the past 10 years, UYM has underperformed IYW with an annualized return of 11.85%, while IYW has yielded a comparatively higher 26.22% annualized return.

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%

IYW

1D
0.76%
1M
17.61%
YTD
30.23%
6M
29.45%
1Y
63.02%
3Y*
35.66%
5Y*
23.59%
10Y*
26.22%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UYM vs. IYW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
IYW
iShares U.S. Technology ETF		30.23%25.38%30.25%65.44%-34.83%35.44%47.45%46.64%-0.93%36.60%

Correlation

The correlation between UYM and IYW is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.34

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (10Y)
Calculated over the trailing 10-year period

0.53

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2007

0.62

Over the past year, the correlation between UYM and IYW has dropped to 0.34 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Ultra Basic Materials

iShares U.S. Technology ETF

Often compared with UYM:
UYM vs. FXZUYM vs. TQQQUYM vs. QLDUYM vs. PYZUYM vs. XLBUYM vs. QQQUYM vs. UXI
Often compared with IYW:
IYW vs. VGTIYW vs. QQQIYW vs. XLKIYW vs. IGMIYW vs. SMHIYW vs. IWFIYW vs. SOXX

Return for Risk

UYM vs. IYW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UYM
UYM Risk / Return Rank: 2828
Overall Rank
UYM Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
UYM Sortino Ratio Rank: 2929
Sortino Ratio Rank
UYM Omega Ratio Rank: 2727
Omega Ratio Rank
UYM Calmar Ratio Rank: 3030
Calmar Ratio Rank
UYM Martin Ratio Rank: 2828
Martin Ratio Rank
IYW
IYW Risk / Return Rank: 7979
Overall Rank
IYW Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
IYW Sortino Ratio Rank: 8585
Sortino Ratio Rank
IYW Omega Ratio Rank: 8383
Omega Ratio Rank
IYW Calmar Ratio Rank: 7272
Calmar Ratio Rank
IYW Martin Ratio Rank: 6565
Martin Ratio Rank
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. IYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Basic Materials (UYM) 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.

UYMIYWDifference

Sharpe ratio

Return per unit of total volatility

1.02

3.16

-2.13

Sortino ratio

Return per unit of downside risk

1.55

3.87

-2.32

Omega ratio

Gain probability vs. loss probability

1.18

1.51

-0.33

Calmar ratio

Return relative to maximum drawdown

1.49

3.62

-2.13

Martin ratio

Return relative to average drawdown

4.09

11.88

-7.80

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. IYW - Sharpe Ratio Comparison

The current UYM Sharpe Ratio is 1.02, which is lower than the IYW Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of UYM and IYW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

UYMIYWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.02

3.16

-2.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.09

0.92

-0.83

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

1.05

-0.77

Sharpe Ratio (All Time)

Calculated using the full available price history

0.09

0.36

-0.27

Drawdowns

UYM vs. IYW - Drawdown Comparison

The maximum UYM drawdown since its inception was -92.77%, which is greater than IYW's maximum drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for UYM and IYW.

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Drawdown Indicators

UYMIYWDifference

Max Drawdown

Largest peak-to-trough decline

-92.77%

-81.90%

-10.87%

Max Drawdown (1Y)

Largest decline over 1 year

-23.85%

-17.81%

-6.04%

Max Drawdown (3Y)

Largest decline over 3 years

-43.88%

-26.47%

-17.41%

Max Drawdown (5Y)

Largest decline over 5 years

-48.25%

-39.44%

-8.81%

Max Drawdown (10Y)

Largest decline over 10 years

-73.31%

-39.44%

-33.87%

Current Drawdown

Current decline from peak

-9.40%

0.00%

-9.40%

Average Drawdown

Average peak-to-trough decline

-42.12%

-34.66%

-7.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.72%

5.43%

+3.29%

Volatility

UYM vs. IYW - Volatility Comparison

ProShares Ultra Basic Materials (UYM) has a higher volatility of 12.00% compared to iShares U.S. Technology ETF (IYW) at 6.11%. This indicates that UYM's price experiences larger fluctuations and is considered to be riskier 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

UYMIYWDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.00%

6.11%

+5.89%

Volatility (6M)

Calculated over the trailing 6-month period

25.85%

15.81%

+10.04%

Volatility (1Y)

Calculated over the trailing 1-year period

33.72%

20.07%

+13.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

39.26%

25.87%

+13.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

42.77%

25.10%

+17.67%

UYM vs. IYW - Expense Ratio Comparison

UYM has a 0.95% expense ratio, which is higher than IYW's 0.38% expense ratio.

Dividends

UYM vs. IYW - Dividend Comparison

UYM's dividend yield for the trailing twelve months is around 1.21%, more than IYW's 0.10% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
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

UYM and IYW have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UYM has higher volatility (12.00%) compared to IYW (6.11%). In terms of maximum drawdown, UYM dropped -92.77% vs IYW's -81.90%.

On 10-year performance, IYW leads with 26.22% vs 11.85% for UYM. On fees, IYW is cheaper at 0.38% per year. On volatility, IYW has been the lower-risk option at 6.11%. 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 26.22% return vs 11.85%. 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 UYM.

UYM has the higher dividend yield at 1.21%, compared with 0.10% for IYW.

UYM is categorized as Leveraged Equities, while IYW is Technology Equities. UYM tracks Dow Jones U.S. Basic Materials 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 UYM and 0.38% for IYW.

IYW currently has the higher Sharpe Ratio (3.16 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.

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