VOO vs. URSP

Last updated Jul 18, 2026

VOO (Vanguard S&P 500 ETF) and URSP (ProShares Ultra S&P 500 Equal Weight ETF) are both exchange-traded funds - VOO is a S&P 500 fund tracking the S&P 500 Index, while URSP is a Leveraged Equities fund tracking the S&P 500 Equal Weight Index. Both are passively managed. A 0.68 correlation means they provide meaningful diversification when combined. VOO charges 0.03%/yr vs 0.95%/yr for URSP.

Performance

VOO vs. URSP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P 500 ETF (VOO) and ProShares Ultra S&P 500 Equal Weight ETF (URSP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VOO achieves a 9.60% return, which is significantly lower than URSP's 21.20% return.

VOO

• 1D: -1.01%
• 1M: 0.55%
• 6M: 8.05%
• YTD: 9.60%
• 1Y: 19.76%
• 3Y*: 19.41%
• 5Y*: 13.08%
• 10Y*: 15.05%

URSP

• 1D: -1.60%
• 1M: 4.50%
• 6M: 12.55%
• YTD: 21.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VOO vs. URSP - Yearly Performance Comparison

	2026 (YTD)	2025
VOO Vanguard S&P 500 ETF	9.60%	6.35%
URSP ProShares Ultra S&P 500 Equal Weight ETF	21.20%	1.59%

Correlation

The correlation between VOO and URSP is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 27, 2025	0.68

Return for Risk

VOO vs. URSP — Risk / Return Rank

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

VOO

VOO Risk / Return Rank: 59
VOO Sharpe Ratio Rank: 58
VOO Sortino Ratio Rank: 57
VOO Omega Ratio Rank: 58
VOO Calmar Ratio Rank: 55
VOO Martin Ratio Rank: 68

URSP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

VOO vs. URSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) and ProShares Ultra S&P 500 Equal Weight ETF (URSP). 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.

	VOO	URSP	Difference
Sharpe ratio: Return per unit of total volatility	1.58	—	—
Sortino ratio: Return per unit of downside risk	2.20	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.23	—	—
Martin ratio: Return relative to average drawdown	9.71	—	—

Drawdowns

VOO vs. URSP - Drawdown Comparison

The maximum VOO drawdown since its inception was -33.99%, which is greater than URSP's maximum drawdown of -15.72%. Use the drawdown chart below to compare losses from any high point for VOO and URSP.

Drawdown Indicators

	VOO	URSP	Difference
Max Drawdown Largest peak-to-trough decline	-33.99%	-15.72%	-18.27%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.52%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.99%	—	—
Current Drawdown Current decline from peak	-1.88%	-1.84%	-0.04%
Average Drawdown Average peak-to-trough decline	-3.67%	-2.93%	-0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	—	—

Volatility

Volatility by Period

	VOO	URSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.56%	23.49%	-10.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	23.49%	-6.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	23.49%	-5.50%

VOO vs. URSP - Expense Ratio Comparison

VOO has a 0.03% expense ratio, which is lower than URSP's 0.95% expense ratio.

Dividends

VOO vs. URSP - Dividend Comparison

VOO's dividend yield for the trailing twelve months is around 1.08%, more than URSP's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
URSP ProShares Ultra S&P 500 Equal Weight ETF	0.92%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.08%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both VOO and URSP in my portfolio?

VOO and URSP have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VOO or URSP?

On fees, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VOO or URSP?

VOO is cheaper with a 0.03% expense ratio, compared with 0.95% for URSP.

Which ETF pays a higher dividend yield, VOO or URSP?

VOO has the higher dividend yield at 1.08%, compared with 0.92% for URSP.

What is the main difference between VOO and URSP?

VOO is categorized as S&P 500, while URSP is Leveraged Equities. VOO tracks S&P 500 Index, while URSP tracks S&P 500 Equal Weight Index. They also come from different issuers: Vanguard and ProShares. Their fees differ too: 0.03% for VOO and 0.95% for URSP.