UYM vs. PYZ

Last updated Jun 24, 2026

UYM (ProShares Ultra Basic Materials) and PYZ (Invesco DWA Basic Materials Momentum ETF) are both exchange-traded funds - UYM is a Leveraged Equities fund tracking the Dow Jones U.S. Basic Materials Index (200%), while PYZ is a Momentum fund tracking the Dorsey Wright Basic Materials Technical Leaders Index. Both are passively managed. Over the past 10 years, UYM returned 12.37%/yr vs 10.24%/yr for PYZ. Their correlation of 0.90 suggests significant overlap in exposure. UYM charges 0.95%/yr vs 0.60%/yr for PYZ.

Performance

UYM vs. PYZ - Performance Comparison

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

Returns By Period

In the year-to-date period, UYM achieves a 22.19% return, which is significantly higher than PYZ's 14.78% return. Over the past 10 years, UYM has outperformed PYZ with an annualized return of 12.37%, while PYZ has yielded a comparatively lower 10.24% annualized return.

UYM

• 1D: -2.78%
• 1M: 2.44%
• YTD: 22.19%
• 6M: 20.07%
• 1Y: 29.81%
• 3Y*: 11.26%
• 5Y*: 5.73%
• 10Y*: 12.37%

PYZ

• 1D: -2.80%
• 1M: -0.19%
• YTD: 14.78%
• 6M: 11.00%
• 1Y: 37.65%
• 3Y*: 16.95%
• 5Y*: 8.30%
• 10Y*: 10.24%

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

UYM vs. PYZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UYM ProShares Ultra Basic Materials	22.19%	9.46%	-8.00%	17.47%	-23.10%	54.58%	16.56%	35.09%	-35.68%	51.51%
PYZ Invesco DWA Basic Materials Momentum ETF	14.78%	28.01%	2.54%	9.56%	-15.45%	32.68%	15.39%	20.66%	-24.33%	20.01%

Correlation

The correlation between UYM and PYZ is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007	0.90

The correlation between UYM and PYZ has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

UYM vs. PYZ - Sectors Allocation Comparison

Sectors	UYM	PYZ
Basic Materials	87.3%	85.4%
Consumer Cyclical	12.7%	4.2%
Industrials	1.1%	14.3%
Communication Services	-	-
Consumer Defensive	-	0.6%
Energy	-	3.8%
Financial Services	-	0.3%
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

UYM vs. PYZ — Risk / Return Rank

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

UYM

UYM Risk / Return Rank: 26
UYM Sharpe Ratio Rank: 25
UYM Sortino Ratio Rank: 26
UYM Omega Ratio Rank: 24
UYM Calmar Ratio Rank: 28
UYM Martin Ratio Rank: 27

PYZ

PYZ Risk / Return Rank: 43
PYZ Sharpe Ratio Rank: 43
PYZ Sortino Ratio Rank: 42
PYZ Omega Ratio Rank: 40
PYZ Calmar Ratio Rank: 46
PYZ Martin Ratio Rank: 45

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. PYZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Basic Materials (UYM) and Invesco DWA Basic Materials Momentum ETF (PYZ). 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	PYZ	Difference
Sharpe ratio: Return per unit of total volatility	0.85	1.43	-0.57
Sortino ratio: Return per unit of downside risk	1.37	1.98	-0.61
Omega ratio: Gain probability vs. loss probability	1.16	1.25	-0.09
Calmar ratio: Return relative to maximum drawdown	1.26	2.13	-0.88
Martin ratio: Return relative to average drawdown	3.31	6.94	-3.63

UYM vs. PYZ - Sharpe Ratio Comparison

The current UYM Sharpe Ratio is 0.85, which is lower than the PYZ Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of UYM and PYZ, 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. PYZ - Drawdown Comparison

The maximum UYM drawdown since its inception was -92.77%, which is greater than PYZ's maximum drawdown of -65.15%. Use the drawdown chart below to compare losses from any high point for UYM and PYZ.

Drawdown Indicators

	UYM	PYZ	Difference
Max Drawdown Largest peak-to-trough decline	-92.77%	-65.15%	-27.62%
Max Drawdown (1Y) Largest decline over 1 year	-23.85%	-17.75%	-6.10%
Max Drawdown (3Y) Largest decline over 3 years	-43.88%	-26.74%	-17.14%
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	-32.97%	-15.28%
Max Drawdown (10Y) Largest decline over 10 years	-73.31%	-52.46%	-20.85%
Current Drawdown Current decline from peak	-11.50%	-5.41%	-6.09%
Average Drawdown Average peak-to-trough decline	-42.02%	-12.61%	-29.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.03%	5.44%	+3.59%

Volatility

UYM vs. PYZ - Volatility Comparison

ProShares Ultra Basic Materials (UYM) has a higher volatility of 12.24% compared to Invesco DWA Basic Materials Momentum ETF (PYZ) at 8.54%. This indicates that UYM's price experiences larger fluctuations and is considered to be riskier than PYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UYM	PYZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.24%	8.54%	+3.70%
Volatility (6M) Calculated over the trailing 6-month period	27.35%	20.88%	+6.47%
Volatility (1Y) Calculated over the trailing 1-year period	35.13%	26.51%	+8.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.40%	25.76%	+13.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.77%	26.48%	+16.29%

UYM vs. PYZ - Expense Ratio Comparison

UYM has a 0.95% expense ratio, which is higher than PYZ's 0.60% expense ratio.

Dividends

UYM vs. PYZ - Dividend Comparison

UYM's dividend yield for the trailing twelve months is around 1.24%, more than PYZ's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PYZ Invesco DWA Basic Materials Momentum ETF	0.47%	0.72%	1.13%	1.19%	1.18%	0.33%	1.04%	1.38%	1.20%	0.53%	1.07%	1.25%
UYM ProShares Ultra Basic Materials	1.24%	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 PYZ in my portfolio?

UYM and PYZ have a correlation of 0.81, 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 PYZ?

UYM has higher volatility (12.24%) compared to PYZ (8.54%). In terms of maximum drawdown, UYM dropped -92.77% vs PYZ's -65.15%.

Which ETF is better, UYM or PYZ?

On 10-year performance, UYM leads with 12.37% vs 10.24% for PYZ. On fees, PYZ is cheaper at 0.60% per year. On volatility, PYZ has been the lower-risk option at 8.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UYM or PYZ?

Over the 10-year period, UYM has performed better with a 12.37% return vs 10.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UYM or PYZ?

PYZ is cheaper with a 0.60% expense ratio, compared with 0.95% for UYM.

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

UYM has the higher dividend yield at 1.24%, compared with 0.47% for PYZ.

What is the main difference between UYM and PYZ?

UYM is categorized as Leveraged Equities, while PYZ is Momentum. UYM tracks Dow Jones U.S. Basic Materials Index (200%), while PYZ tracks Dorsey Wright Basic Materials Technical Leaders Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for UYM and 0.60% for PYZ.

Which has better risk-adjusted returns?

PYZ currently has the higher Sharpe Ratio (1.43 vs 0.85), 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.