ULE vs VOO
ULE vs VOO
ProShares Ultra Euro 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 505 holdings.
Side-by-Side Comparison
| Metric | ULE | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | $4M | $979.0B | |
| Dividend Yield | 0.00% | 1.09% | |
| Holdings | 3 | 509 | |
| YTD Return | -3.29% | +13.80% | |
| 1Y Return | -2.91% | +23.71% | |
| 3Y Return (annualized) | +2.71% | +21.50% | |
| 5Y Return (annualized) | -2.47% | +13.44% | |
| Volatility (annualized) | 18.1% | 14.1% | |
| Max Drawdown | -72.7% | -34.3% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Nov 24, 2008 | Sep 7, 2010 |
ULE vs VOO Performance
ProShares Ultra Euro (ULE) is a ETF from ProShares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year ULE returned -2.91% while VOO returned +23.71%. Year to date, ULE is down 3.29% versus a gain of 13.80% for VOO.
Over three years, ULE compounded at +2.71% per year against +21.50% for VOO; over five years the annualized figures are -2.47% and +13.44% respectively. Across the full 16-year window we track, VOO has the edge at +13.58% annualized vs -3.85%. 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 14.1% 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 -72.7% for ULE 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 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ULE 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, ULE currently yields 0.00% against 1.09% for VOO.
Frequently Asked Questions
Which is cheaper, ULE or VOO?
ULE 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, ULE or VOO?
Over the past year ULE returned -2.91% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), ULE annualized -3.85% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, ULE or VOO?
ULE has been the more volatile fund at 18.1% annualized versus 14.1% for VOO. Worst drawdown: ULE -72.7% vs VOO -34.3%.
Should I hold both ULE and VOO?
ULE and VOO have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, ULE or VOO?
ULE yields 0.00% while VOO yields 1.09%, so VOO currently pays the higher dividend yield.
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