VERS vs. UPRO

Last updated Jun 24, 2026

VERS (ProShares Metaverse ETF) and UPRO (ProShares UltraPro S&P 500) are both exchange-traded funds - VERS is a Technology Equities fund tracking the Solactive Metaverse Theme Index - Benchmark TR Net, while UPRO is a Leveraged Equities fund tracking the S&P 500. Both are passively managed. Over the past 3 years, VERS returned 26.24%/yr vs 46.23%/yr for UPRO. Their correlation of 0.84 suggests significant overlap in exposure. VERS charges 0.58%/yr vs 0.89%/yr for UPRO.

Performance

VERS vs. UPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Metaverse ETF (VERS) and ProShares UltraPro S&P 500 (UPRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VERS achieves a 20.88% return, which is significantly higher than UPRO's 17.21% return.

VERS

• 1D: -4.41%
• 1M: -5.52%
• YTD: 20.88%
• 6M: 19.83%
• 1Y: 47.06%
• 3Y*: 26.24%
• 5Y*: —
• 10Y*: —

UPRO

• 1D: -4.27%
• 1M: -5.38%
• YTD: 17.21%
• 6M: 13.86%
• 1Y: 62.29%
• 3Y*: 46.23%
• 5Y*: 20.37%
• 10Y*: 30.18%

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

VERS vs. UPRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VERS ProShares Metaverse ETF	20.88%	26.16%	16.92%	51.13%	-33.05%
UPRO ProShares UltraPro S&P 500	17.21%	31.88%	63.57%	68.53%	-42.02%

Correlation

The correlation between VERS and UPRO 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	0.81
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022	0.84

The correlation between VERS and UPRO has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

VERS vs. UPRO - Sectors Allocation Comparison

Sectors	VERS	UPRO
Technology	76.6%	39.1%
Communication Services	16.2%	10.6%
Consumer Cyclical	6.0%	9.9%
Real Estate	1.3%	1.8%
Basic Materials	-	1.7%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Financial Services	-	11.1%
Healthcare	-	8.3%
Industrials	-	7.8%
Utilities	-	2.1%

Return for Risk

VERS vs. UPRO — Risk / Return Rank

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

VERS

VERS Risk / Return Rank: 46
VERS Sharpe Ratio Rank: 52
VERS Sortino Ratio Rank: 47
VERS Omega Ratio Rank: 47
VERS Calmar Ratio Rank: 45
VERS Martin Ratio Rank: 39

UPRO

UPRO Risk / Return Rank: 49
UPRO Sharpe Ratio Rank: 50
UPRO Sortino Ratio Rank: 44
UPRO Omega Ratio Rank: 45
UPRO Calmar Ratio Rank: 49
UPRO Martin Ratio Rank: 56

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.

VERS vs. UPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Metaverse ETF (VERS) and ProShares UltraPro S&P 500 (UPRO). 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.

	VERS	UPRO	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.68	-0.05
Sortino ratio: Return per unit of downside risk	2.15	2.15	0.00
Omega ratio: Gain probability vs. loss probability	1.28	1.28	-0.01
Calmar ratio: Return relative to maximum drawdown	2.05	2.34	-0.28
Martin ratio: Return relative to average drawdown	5.74	9.52	-3.78

VERS vs. UPRO - Sharpe Ratio Comparison

The current VERS Sharpe Ratio is 1.63, which is comparable to the UPRO Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of VERS and UPRO, 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

VERS vs. UPRO - Drawdown Comparison

The maximum VERS drawdown since its inception was -42.13%, smaller than the maximum UPRO drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for VERS and UPRO.

Drawdown Indicators

	VERS	UPRO	Difference
Max Drawdown Largest peak-to-trough decline	-42.13%	-76.82%	+34.69%
Max Drawdown (1Y) Largest decline over 1 year	-23.02%	-26.78%	+3.76%
Max Drawdown (3Y) Largest decline over 3 years	-29.34%	-48.87%	+19.53%
Max Drawdown (5Y) Largest decline over 5 years	—	-63.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-76.82%	—
Current Drawdown Current decline from peak	-12.35%	-10.27%	-2.08%
Average Drawdown Average peak-to-trough decline	-14.97%	-14.39%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.22%	6.57%	+1.65%

Volatility

VERS vs. UPRO - Volatility Comparison

ProShares Metaverse ETF (VERS) and ProShares UltraPro S&P 500 (UPRO) have volatilities of 14.64% and 14.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VERS	UPRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.64%	14.68%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	23.73%	29.49%	-5.76%
Volatility (1Y) Calculated over the trailing 1-year period	29.08%	37.35%	-8.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.69%	50.62%	-18.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.69%	53.79%	-22.10%

VERS vs. UPRO - Expense Ratio Comparison

VERS has a 0.58% expense ratio, which is lower than UPRO's 0.89% expense ratio.

Dividends

VERS vs. UPRO - Dividend Comparison

VERS's dividend yield for the trailing twelve months is around 0.27%, less than UPRO's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UPRO ProShares UltraPro S&P 500	0.74%	0.84%	0.93%	0.74%	0.52%	0.06%	0.11%	0.41%	0.63%	0.00%	0.12%	0.34%
VERS ProShares Metaverse ETF	0.27%	0.52%	0.58%	0.63%	0.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VERS and UPRO in my portfolio?

VERS and UPRO 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, VERS or UPRO?

UPRO has higher volatility (14.68%) compared to VERS (14.64%). In terms of maximum drawdown, VERS dropped -42.13% vs UPRO's -76.82%.

Which ETF is better, VERS or UPRO?

On 3-year performance, UPRO leads with 46.23% vs 26.24% for VERS. On fees, VERS is cheaper at 0.58% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VERS or UPRO?

Over the 3-year period, UPRO has performed better with a 46.23% return vs 26.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VERS or UPRO?

VERS is cheaper with a 0.58% expense ratio, compared with 0.89% for UPRO.

Which ETF pays a higher dividend yield, VERS or UPRO?

UPRO has the higher dividend yield at 0.74%, compared with 0.27% for VERS.

What is the main difference between VERS and UPRO?

VERS is categorized as Technology Equities, while UPRO is Leveraged Equities. VERS tracks Solactive Metaverse Theme Index - Benchmark TR Net, while UPRO tracks S&P 500. Their fees differ too: 0.58% for VERS and 0.89% for UPRO.

Which has better risk-adjusted returns?

UPRO currently has the higher Sharpe Ratio (1.68 vs 1.63), 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.