UYM vs. XLB

Last updated Aug 2, 2026

UYM (ProShares Ultra Basic Materials) and XLB (Materials Select Sector SPDR ETF) are both exchange-traded funds - UYM is a Leveraged Equities fund tracking the Dow Jones U.S. Basic Materials Index (200%), while XLB is a Materials fund tracking the Materials Select Sector Index. Both are passively managed. Over the past 10 years, UYM returned 10.90%/yr vs 9.81%/yr for XLB. Their 0.97 correlation means they have historically moved very closely together. UYM charges 0.95%/yr vs 0.13%/yr for XLB.

Performance

UYM vs. XLB - Performance Comparison

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

Returns By Period

In the year-to-date period, UYM achieves a 18.79% return, which is significantly higher than XLB's 12.12% return. Over the past 10 years, UYM has outperformed XLB with an annualized return of 10.90%, while XLB has yielded a comparatively lower 9.81% 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%

XLB

• 1D: -2.34%
• 1M: -3.04%
• 6M: 3.20%
• YTD: 12.12%
• 1Y: 18.42%
• 3Y*: 7.78%
• 5Y*: 5.80%
• 10Y*: 9.81%
• ALL TIME*: 8.29%

*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)
UYM ProShares Ultra Basic Materials	$206.44K	$227.31K	$267.93K
XLB Materials Select Sector SPDR ETF	$592.07M	$578.31M	$592.29M

UYM vs. XLB - 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%
XLB Materials Select Sector SPDR ETF	12.12%	9.94%	0.15%	12.46%	-12.30%	27.44%	20.46%	24.13%	-14.88%	24.01%

Correlation

The correlation between UYM and XLB is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (10Y) Provides a long-term view across more market conditions.	0.98
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007	0.97

The correlation between UYM and XLB has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

UYM vs. XLB - Sectors Allocation Comparison

Sectors	UYM	XLB
Basic Materials	84.6%	84.6%
Consumer Cyclical	15.4%	15.4%
Industrials	1.1%	1.5%
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

UYM vs. XLB — 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

XLB

XLB Risk / Return Rank: 39
XLB Sharpe Ratio Rank: 39
XLB Sortino Ratio Rank: 39
XLB Omega Ratio Rank: 37
XLB Calmar Ratio Rank: 40
XLB Martin Ratio Rank: 39

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. XLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Basic Materials (UYM) and Materials Select Sector SPDR ETF (XLB). 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	XLB	Difference
Sharpe ratio: Return per unit of total volatility	0.73	0.97	-0.24
Sortino ratio: Return per unit of downside risk	1.22	1.46	-0.25
Omega ratio: Gain probability vs. loss probability	1.14	1.17	-0.03
Calmar ratio: Return relative to maximum drawdown	1.09	1.38	-0.30
Martin ratio: Return relative to average drawdown	2.76	4.12	-1.36

UYM vs. XLB - Sharpe Ratio Comparison

The current UYM Sharpe Ratio is 0.73, which is comparable to the XLB Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of UYM and XLB, 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. XLB - Drawdown Comparison

The maximum UYM drawdown since its inception was -92.77%, which is greater than XLB's maximum drawdown of -59.83%. Use the drawdown chart below to compare losses from any high point for UYM and XLB.

Drawdown Indicators

	UYM	XLB	Difference
Max Drawdown Largest peak-to-trough decline	-92.77%	-59.83%	-32.94%
Max Drawdown (1Y) Largest decline over 1 year	-23.85%	-12.38%	-11.47%
Max Drawdown (3Y) Largest decline over 3 years	-43.88%	-23.17%	-20.71%
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	-24.72%	-23.53%
Max Drawdown (10Y) Largest decline over 10 years	-73.31%	-37.27%	-36.04%
Current Drawdown Current decline from peak	-13.95%	-5.18%	-8.77%
Average Drawdown Average peak-to-trough decline	-41.85%	-10.80%	-31.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.37%	4.15%	+5.22%

Volatility

UYM vs. XLB - Volatility Comparison

ProShares Ultra Basic Materials (UYM) has a higher volatility of 11.64% compared to Materials Select Sector SPDR ETF (XLB) at 5.87%. This indicates that UYM's price experiences larger fluctuations and is considered to be riskier than XLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UYM	XLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.64%	5.87%	+5.77%
Volatility (6M) Calculated over the trailing 6-month period	28.50%	14.11%	+14.39%
Volatility (1Y) Calculated over the trailing 1-year period	35.44%	17.72%	+17.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.46%	19.10%	+20.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.76%	20.67%	+22.09%

UYM vs. XLB - Expense Ratio Comparison

UYM has a 0.95% expense ratio, which is higher than XLB's 0.13% expense ratio.

Dividends

UYM vs. XLB - Dividend Comparison

UYM's dividend yield for the trailing twelve months is around 1.19%, less than XLB's 1.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XLB Materials Select Sector SPDR ETF	1.68%	1.92%	1.92%	2.00%	2.26%	1.62%	1.72%	1.98%	2.20%	1.66%	1.95%	2.24%

Frequently Asked Questions

Can I hold both UYM and XLB in my portfolio?

With a correlation of 0.99, UYM and XLB 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 XLB?

UYM has higher volatility (11.64%) compared to XLB (5.87%). In terms of maximum drawdown, UYM dropped -92.77% vs XLB's -59.83%.

Which ETF is better, UYM or XLB?

On 10-year performance, UYM leads with 10.90% vs 9.81% for XLB. On fees, XLB is cheaper at 0.13% per year. On volatility, XLB has been the lower-risk option at 5.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UYM or XLB?

Over the 10-year period, UYM has performed better with a 10.90% return vs 9.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UYM or XLB?

XLB is cheaper with a 0.13% expense ratio, compared with 0.95% for UYM.

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

XLB has the higher dividend yield at 1.68%, compared with 1.19% for UYM.

What is the main difference between UYM and XLB?

UYM is categorized as Leveraged Equities, while XLB is Materials. UYM tracks Dow Jones U.S. Basic Materials Index (200%), while XLB tracks Materials Select Sector Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for UYM and 0.13% for XLB.

Which has better risk-adjusted returns?

XLB currently has the higher Sharpe Ratio (0.97 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.