SPY vs UBR
State Street SPDR S&P 500 ETF Trust vs ProShares Ultra MSCI Brazil Capped
Which is better, SPY or UBR?
Large Cap Blend against Trading-Leveraged Equity.
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, UBR over 1Y.
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 | SPY | UBR |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.95% |
| AUM | $804.7B | $4M |
| Dividend Yield | 0.98% | 1.63% |
| Holdings | 505 | 5 |
| YTD Return | +11.52% | +34.13%Best |
| 1Y Return | +17.48% | +61.59%Best |
| 3Y Return (annualized) | +20.62%Best | +13.19% |
| 5Y Return (annualized) | +12.73%Best | +5.79% |
| Volatility (annualized) | 14.5%Best | 62.2% |
| Max Drawdown | -34.1%Best | -97.2% |
| $10,000 over 5 years | $18,205Best | $13,250 |
| Fund Family | State Street Investment Management | ProShares |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Trading-Leveraged Equity |
| Inception | Jan 22, 1993 | Apr 27, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Apr 29, 2010 to Sep 10, 2026 (16.4 years).
SPY vs UBR 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 covers the 16.4 years both funds cover.
SPY vs UBR Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and ProShares Ultra MSCI Brazil Capped (UBR) is an ETF from ProShares. Over the past year SPY returned +17.48% while UBR returned +61.59%. Year to date, SPY is up 11.52% versus a gain of 34.13% for UBR.
Over three years, SPY compounded at +20.62% per year against +13.19% for UBR; over five years the annualized figures are +12.73% and +5.79% respectively. Across the full 16-year window we track, SPY has the edge at +12.38% annualized vs -13.08%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UBR has been the more volatile fund, with annualized monthly volatility of 62.2% compared with 14.5% for SPY. 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 -34.1% for SPY and -97.2% for UBR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.48. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while UBR charges 0.95%. On a $10,000 position that is $9 vs $95 annually, a gap of $86 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 1.63% for UBR.
You are not choosing between two funds in isolation.
Whichever of SPY and UBR you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or UBR?
SPY has an expense ratio of 0.09% while UBR charges 0.95%. SPY is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, SPY or UBR?
Over the past year SPY returned +17.48% vs +61.59% for UBR, so UBR leads on 1-year performance. Over the longest common window we track (16 years), SPY annualized +12.38% vs -13.08% for UBR. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or UBR?
UBR has been the more volatile fund at 62.2% annualized versus 14.5% for SPY. Worst drawdown: SPY -34.1% vs UBR -97.2%.
Should I hold both SPY and UBR?
SPY and UBR have a monthly-return correlation of 0.48, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or UBR?
SPY yields 0.98% while UBR yields 1.63%, so UBR currently pays the higher dividend yield.
Is UBR better than SPY?
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, UBR over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.