IVV vs ULE
iShares Core S&P 500 ETF vs ProShares Ultra Euro
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | ULE | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.95% | |
| AUM | $865.2B | $4M | |
| Dividend Yield | 1.09% | 0.00% | |
| Holdings | 508 | 3 | |
| YTD Return | +13.72% | -3.80% | |
| 1Y Return | +21.64% | -3.82% | |
| 3Y Return (annualized) | +21.55% | +2.96% | |
| 5Y Return (annualized) | +13.27% | -2.62% | |
| Volatility (annualized) | 15.1% | 18.1% | |
| Max Drawdown | -56.5% | -72.7% | |
| Fund Family | iShares by BlackRock (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Nov 24, 2008 |
IVV vs ULE Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and ProShares Ultra Euro (ULE) is a ETF from ProShares. Over the past year IVV returned +21.64% while ULE returned -3.82%. Year to date, IVV is up 13.72% versus a loss of 3.80% for ULE.
Over three years, IVV compounded at +21.55% per year against +2.96% for ULE; over five years the annualized figures are +13.27% and -2.62% respectively. Across the full 18-year window we track, IVV has the edge at +7.04% annualized vs -3.88%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ULE has been the more volatile fund, with annualized monthly volatility of 18.1% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -72.7% for ULE. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while ULE charges 0.95%. On a $10,000 position that is $3 vs $95 annually, a gap of $92 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 0.00% for ULE.
Frequently Asked Questions
Which is cheaper, IVV or ULE?
IVV has an expense ratio of 0.03% while ULE charges 0.95%. IVV is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, IVV or ULE?
Over the past year IVV returned +21.64% vs -3.82% for ULE, so IVV leads on 1-year performance. Over the longest common window we track (18 years), IVV annualized +7.04% vs -3.88% for ULE. Past performance does not guarantee future results.
Which is riskier, IVV or ULE?
ULE has been the more volatile fund at 18.1% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs ULE -72.7%.
Should I hold both IVV and ULE?
IVV and ULE have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, IVV or ULE?
IVV yields 1.09% while ULE yields 0.00%, so IVV currently pays the higher dividend yield.
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