UPW vs VYM
ProShares Ultra Utilities vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | UPW | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.04% | |
| AUM | $18M | $79.0B | |
| Dividend Yield | 1.41% | 2.86% | |
| Holdings | 37 | 568 | |
| YTD Return | -0.57% | +16.16% | |
| 1Y Return | +0.44% | +26.05% | |
| 3Y Return (annualized) | +18.39% | +18.43% | |
| 5Y Return (annualized) | +7.33% | +12.21% | |
| Volatility (annualized) | 29.8% | 14.6% | |
| Max Drawdown | -79.5% | -58.8% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jan 30, 2007 | Nov 10, 2006 |
UPW vs VYM Performance
ProShares Ultra Utilities (UPW) is a ETF from ProShares and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year UPW returned +0.44% while VYM returned +26.05%. Year to date, UPW is down 0.57% versus a gain of 16.16% for VYM.
Over three years, UPW compounded at +18.39% per year against +18.43% for VYM; over five years the annualized figures are +7.33% and +12.21% respectively. Across the full 20-year window we track, UPW has the edge at +7.45% annualized vs +7.09%. 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 14.6% for VYM. 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 -58.8% for VYM. 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 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
UPW charges 0.95% per year while VYM charges 0.04%. On a $10,000 position that is $95 vs $4 annually, a gap of $91 per year that compounds over a long holding period. On income, UPW currently yields 1.41% against 2.86% for VYM.
Holdings Overlap
UPW and VYM share 28 holdings out of 561 unique holdings combined, representing a 5.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, UPW or VYM?
UPW has an expense ratio of 0.95% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $91 per year of difference.
Which performed better, UPW or VYM?
Over the past year UPW returned +0.44% vs +26.05% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (20 years), UPW annualized +7.45% vs +7.09% for VYM. Past performance does not guarantee future results.
Which is riskier, UPW or VYM?
UPW has been the more volatile fund at 29.8% annualized versus 14.6% for VYM. Worst drawdown: UPW -79.5% vs VYM -58.8%.
Should I hold both UPW and VYM?
UPW and VYM have a monthly-return correlation of 0.58, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between UPW and VYM?
UPW and VYM share 28 common holdings with a 5.5% weight overlap. Combined, they hold 561 unique securities.
Which pays a higher dividend, UPW or VYM?
UPW yields 1.41% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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