IVV vs UPRO
iShares Core S&P 500 ETF vs ProShares UltraPro S&P 500
Which is better, IVV or UPRO?
Large Cap Blend against Multi Alternative.
IVV has a lower expense ratio. UPRO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IVV | UPRO |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.89% |
| AUM | $876.4B | $5.4B |
| Dividend Yield | 1.06% | 0.72% |
| Holdings | 508 | 520 |
| YTD Return | +12.51% | +27.24%Best |
| 1Y Return | +17.57% | +37.98%Best |
| 3Y Return (annualized) | +21.27% | +46.88%Best |
| 5Y Return (annualized) | +12.95% | +18.37%Best |
| Volatility (annualized) | 14.4%Best | 44.5% |
| Max Drawdown | -33.9%Best | -76.8% |
| $10,000 over 5 years | $18,384 | $23,239Best |
| Fund Family | iShares by BlackRock (US) | ProShares |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | May 15, 2000 | Jun 23, 2009 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 25, 2009 to Sep 11, 2026 (17.2 years).
IVV vs UPRO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
IVV vs UPRO Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and ProShares UltraPro S&P 500 (UPRO) is an ETF from ProShares. Over the past year IVV returned +17.57% while UPRO returned +37.98%. Year to date, IVV is up 12.51% versus a gain of 27.24% for UPRO.
Over three years, IVV compounded at +21.27% per year against +46.88% for UPRO; over five years the annualized figures are +12.95% and +18.37% respectively. Across the full 17-year window we track, UPRO has the edge at +32.37% annualized vs +13.60%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UPRO has been the more volatile fund, with annualized monthly volatility of 44.5% compared with 14.4% 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 -33.9% for IVV and -76.8% for UPRO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while UPRO charges 0.89%. On a $10,000 position that is $3 vs $89 annually, a gap of $86 per year that compounds over a long holding period. On income, IVV currently yields 1.06% against 0.72% for UPRO.
Holdings Overlap
At least 97.8% of IVV's money is in holdings UPRO also owns.
Stated as a floor: for UPRO, our book for it covers 68.1% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
Most of IVV is already inside UPRO. Owning both mostly buys the same companies twice.
480 positions in common, counted across the 505 positions we hold weights for in IVV and 500 in UPRO, against full books of 508 and 520.
Top Shared Holdings
| Stock | Weight in IVV | Weight in UPRO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.98% | 3.83% | 4.15% |
| AAPLApple, Inc | 6.86% | 3.29% | 3.57% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.44% | 2.61% | 2.83% |
| AMZNAmazon.Com Inc | 4.01% | 1.92% | 2.09% |
| GOOGLAlphabet A Usd 0.001 | 3.19% | 1.53% | 1.66% |
| AVGOBroadcom Inc | 2.98% | 1.43% | 1.55% |
| GOOGAlphabet Inc | 2.56% | 1.23% | 1.33% |
| METAMeta Platforms, Inc. | 1.94% | 0.93% | 1.01% |
| MUMicron Technology, Inc. | 1.51% | 0.73% | 0.78% |
| JPMJpmorgan Chase & Co. | 1.45% | 0.69% | 0.76% |
97.8% of IVV is already inside UPRO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IVV or UPRO?
IVV has an expense ratio of 0.03% while UPRO charges 0.89%. IVV is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, IVV or UPRO?
Over the past year IVV returned +17.57% vs +37.98% for UPRO, so UPRO leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +13.60% vs +32.37% for UPRO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or UPRO?
UPRO has been the more volatile fund at 44.5% annualized versus 14.4% for IVV. Worst drawdown: IVV -33.9% vs UPRO -76.8%.
Should I hold both IVV and UPRO?
IVV and UPRO have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between IVV and UPRO?
At least 97.8% of IVV's money is in holdings UPRO also owns. Our book for UPRO is partial, so the real figure is this or higher. They hold 480 positions in common, counted across the 505 positions we hold weights for in IVV and 500 in UPRO.
Which pays a higher dividend, IVV or UPRO?
IVV yields 1.06% while UPRO yields 0.72%, so IVV currently pays the higher dividend yield.
Is UPRO better than IVV?
IVV has a lower expense ratio. UPRO led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.