UBT vs VOO
ProShares Ultra 20+ Year Treasury vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | UBT | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | $59M | $979.0B | |
| Dividend Yield | 3.44% | 1.09% | |
| Holdings | 8 | 509 | |
| YTD Return | -8.03% | +14.48% | |
| 1Y Return | -7.71% | +22.02% | |
| 3Y Return (annualized) | -8.14% | +21.80% | |
| 5Y Return (annualized) | -21.05% | +13.36% | |
| Volatility (annualized) | 27.3% | 14.2% | |
| Max Drawdown | -79.0% | -34.3% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jan 19, 2010 | Sep 7, 2010 |
UBT vs VOO Performance
ProShares Ultra 20+ Year Treasury (UBT) is a ETF from ProShares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year UBT returned -7.71% while VOO returned +22.02%. Year to date, UBT is down 8.03% versus a gain of 14.48% for VOO.
Over three years, UBT compounded at -8.14% per year against +21.80% for VOO; over five years the annualized figures are -21.05% and +13.36% respectively. Across the full 16-year window we track, VOO has the edge at +13.61% annualized vs -0.42%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UBT has been the more volatile fund, with annualized monthly volatility of 27.3% compared with 14.2% for VOO. 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 -79.0% for UBT and -34.3% for VOO. 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 -0.04. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
UBT charges 0.95% per year while VOO charges 0.03%. On a $10,000 position that is $95 vs $3 annually, a gap of $92 per year that compounds over a long holding period. On income, UBT currently yields 3.44% against 1.09% for VOO.
Holdings Overlap
UBT and VOO share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, UBT or VOO?
UBT has an expense ratio of 0.95% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, UBT or VOO?
Over the past year UBT returned -7.71% vs +22.02% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), UBT annualized -0.42% vs +13.61% for VOO. Past performance does not guarantee future results.
Which is riskier, UBT or VOO?
UBT has been the more volatile fund at 27.3% annualized versus 14.2% for VOO. Worst drawdown: UBT -79.0% vs VOO -34.3%.
Should I hold both UBT and VOO?
UBT and VOO have a monthly-return correlation of -0.04, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between UBT and VOO?
UBT and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, UBT or VOO?
UBT yields 3.44% while VOO yields 1.09%, so UBT currently pays the higher dividend yield.
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