UPW vs VOO
ProShares Ultra Utilities 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 | UPW | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | $18M | $979.0B | |
| Dividend Yield | 1.41% | 1.09% | |
| Holdings | 37 | 509 | |
| YTD Return | +1.37% | +14.48% | |
| 1Y Return | +0.91% | +22.02% | |
| 3Y Return (annualized) | +19.12% | +21.80% | |
| 5Y Return (annualized) | +7.51% | +13.36% | |
| Volatility (annualized) | 29.8% | 14.2% | |
| Max Drawdown | -79.5% | -34.3% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jan 30, 2007 | Sep 7, 2010 |
UPW vs VOO Performance
ProShares Ultra Utilities (UPW) is a ETF from ProShares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year UPW returned +0.91% while VOO returned +22.02%. Year to date, UPW is up 1.37% versus a gain of 14.48% for VOO.
Over three years, UPW compounded at +19.12% per year against +21.80% for VOO; over five years the annualized figures are +7.51% and +13.36% respectively. Across the full 16-year window we track, VOO has the edge at +13.61% annualized vs +7.55%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UPW has been the more volatile fund, with annualized monthly volatility of 29.8% 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 -79.5% for UPW 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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
UPW 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, UPW currently yields 1.41% against 1.09% for VOO.
Holdings Overlap
UPW and VOO share 31 holdings out of 505 unique holdings combined, representing a 2.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, UPW or VOO?
UPW 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, UPW or VOO?
Over the past year UPW returned +0.91% vs +22.02% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), UPW annualized +7.55% vs +13.61% for VOO. Past performance does not guarantee future results.
Which is riskier, UPW or VOO?
UPW has been the more volatile fund at 29.8% annualized versus 14.2% for VOO. Worst drawdown: UPW -79.5% vs VOO -34.3%.
Should I hold both UPW and VOO?
UPW and VOO have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between UPW and VOO?
UPW and VOO share 31 common holdings with a 2.2% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, UPW or VOO?
UPW yields 1.41% while VOO yields 1.09%, so UPW currently pays the higher dividend yield.
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