UYM vs. LTL

Last updated Jun 13, 2026

UYM (ProShares Ultra Basic Materials) and LTL (ProShares Ultra Telecommunications) are both Leveraged Equities funds from ProShares - UYM tracks the Dow Jones U.S. Basic Materials Index (200%) while LTL tracks the Dow Jones U.S. Select Telecommunications Index (200%). Both are passively managed. Over the past 10 years, UYM returned 12.48%/yr vs 8.83%/yr for LTL. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

UYM vs. LTL - Performance Comparison

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

Returns By Period

In the year-to-date period, UYM achieves a 27.95% return, which is significantly higher than LTL's -12.79% return. Over the past 10 years, UYM has outperformed LTL with an annualized return of 12.48%, while LTL has yielded a comparatively lower 8.83% annualized return.

UYM

• 1D: 3.74%
• 1M: 1.10%
• YTD: 27.95%
• 6M: 30.38%
• 1Y: 36.06%
• 3Y*: 11.85%
• 5Y*: 4.60%
• 10Y*: 12.48%

LTL

• 1D: -1.02%
• 1M: -9.73%
• YTD: -12.79%
• 6M: -10.48%
• 1Y: 12.42%
• 3Y*: 34.49%
• 5Y*: 15.81%
• 10Y*: 8.83%

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

UYM vs. LTL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UYM ProShares Ultra Basic Materials	27.95%	9.46%	-8.00%	17.47%	-23.10%	54.58%	16.56%	35.09%	-35.68%	51.51%
LTL ProShares Ultra Telecommunications	-12.79%	37.06%	65.15%	62.03%	-41.14%	40.42%	-3.25%	30.16%	-23.44%	-26.85%

Correlation

The correlation between UYM and LTL is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since May 22, 2008	0.49

The correlation between UYM and LTL shifts across timeframes, from 0.35 (1 year) to 0.55 (5 years), reflecting how their relationship changes across market environments.

UYM vs. LTL - Sectors Allocation Comparison

Sectors	UYM	LTL
Basic Materials	87.6%	-
Consumer Cyclical	12.4%	-
Industrials	1.1%	-
Communication Services	-	57.5%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	2.8%
Utilities	-	-

Return for Risk

UYM vs. LTL — Risk / Return Rank

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

UYM

UYM Risk / Return Rank: 29
UYM Sharpe Ratio Rank: 29
UYM Sortino Ratio Rank: 30
UYM Omega Ratio Rank: 28
UYM Calmar Ratio Rank: 31
UYM Martin Ratio Rank: 29

LTL

LTL Risk / Return Rank: 16
LTL Sharpe Ratio Rank: 16
LTL Sortino Ratio Rank: 16
LTL Omega Ratio Rank: 15
LTL Calmar Ratio Rank: 15
LTL Martin Ratio Rank: 16

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. LTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Basic Materials (UYM) and ProShares Ultra Telecommunications (LTL). 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	LTL	Difference
Sharpe ratio: Return per unit of total volatility	0.94	0.37	+0.57
Sortino ratio: Return per unit of downside risk	1.47	0.72	+0.75
Omega ratio: Gain probability vs. loss probability	1.17	1.08	+0.09
Calmar ratio: Return relative to maximum drawdown	1.38	0.46	+0.91
Martin ratio: Return relative to average drawdown	3.67	1.29	+2.38

UYM vs. LTL - Sharpe Ratio Comparison

The current UYM Sharpe Ratio is 0.94, which is higher than the LTL Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of UYM and LTL, 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. LTL - Drawdown Comparison

The maximum UYM drawdown since its inception was -92.77%, which is greater than LTL's maximum drawdown of -80.20%. Use the drawdown chart below to compare losses from any high point for UYM and LTL.

Drawdown Indicators

	UYM	LTL	Difference
Max Drawdown Largest peak-to-trough decline	-92.77%	-80.20%	-12.57%
Max Drawdown (1Y) Largest decline over 1 year	-23.85%	-21.43%	-2.42%
Max Drawdown (3Y) Largest decline over 3 years	-43.88%	-34.37%	-9.51%
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	-52.60%	+4.35%
Max Drawdown (10Y) Largest decline over 10 years	-73.31%	-64.15%	-9.16%
Current Drawdown Current decline from peak	-7.32%	-15.86%	+8.54%
Average Drawdown Average peak-to-trough decline	-42.06%	-28.63%	-13.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.95%	7.69%	+1.26%

Volatility

UYM vs. LTL - Volatility Comparison

ProShares Ultra Basic Materials (UYM) has a higher volatility of 14.01% compared to ProShares Ultra Telecommunications (LTL) at 7.29%. This indicates that UYM's price experiences larger fluctuations and is considered to be riskier than LTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UYM	LTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.01%	7.29%	+6.72%
Volatility (6M) Calculated over the trailing 6-month period	27.29%	19.50%	+7.79%
Volatility (1Y) Calculated over the trailing 1-year period	35.09%	26.89%	+8.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.49%	34.58%	+4.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.86%	36.91%	+5.95%

UYM vs. LTL - Expense Ratio Comparison

Both UYM and LTL have an expense ratio of 0.95%.

Dividends

UYM vs. LTL - Dividend Comparison

UYM's dividend yield for the trailing twelve months is around 1.19%, more than LTL's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LTL ProShares Ultra Telecommunications	0.93%	0.64%	0.29%	0.97%	2.01%	1.14%	1.57%	0.83%	1.99%	1.96%	0.70%	1.55%
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 LTL in my portfolio?

UYM and LTL have a correlation of 0.35, 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 LTL?

UYM has higher volatility (14.01%) compared to LTL (7.29%). In terms of maximum drawdown, UYM dropped -92.77% vs LTL's -80.20%.

Which ETF is better, UYM or LTL?

On 10-year performance, UYM leads with 12.48% vs 8.83% for LTL. Both ETFs have the same 0.95% expense ratio. On volatility, LTL has been the lower-risk option at 7.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UYM or LTL?

Over the 10-year period, UYM has performed better with a 12.48% return vs 8.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UYM or LTL?

UYM and LTL have the same expense ratio: 0.95% per year.

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

UYM has the higher dividend yield at 1.19%, compared with 0.93% for LTL.

What is the main difference between UYM and LTL?

UYM tracks Dow Jones U.S. Basic Materials Index (200%), while LTL tracks Dow Jones U.S. Select Telecommunications Index (200%).

Which has better risk-adjusted returns?

UYM currently has the higher Sharpe Ratio (0.94 vs 0.37), 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.