UPRO vs BILS

Comparison between PROSHARES ULTRAPRO S&P500 (UPRO, ETF) and SPDR BLOOMBERG 3-12 MONTH T-BILL ETF (BILS, ETF).

5-Year PerformanceUPRO has outperformed BILS, delivering a return of +21.6% compared to +3.2%

UPRO vs BILS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	UPRO(ETF)	BILS(ETF)
Net Assets	$4B	$4.10B
Expense Ratio	N/A	0.14%
Max Drawdown	76.82%	1.20%
Sharpe Ratio	1.98	1.17
5Y Beta	2.89	-0.00
5Y Dividends CAGR	84.45%	N/A

Net Assets

UPRO

$4B

Winner

BILS

$4.10B

Expense Ratio

UPRO

N/A

BILS

0.14%

Max Drawdown

UPRO

76.82%

Winner

BILS

1.20%

Sharpe Ratio

Winner

UPRO

1.98

BILS

1.17

5Y Beta

UPRO

2.89

Winner

BILS

-0.00

5Y Dividends CAGR

UPRO

84.45%

BILS

N/A

UPRO vs BILS - Historical Returns

Returns include dividend reinvestment.

Period	UPRO	BILS
1 month	+28.36%	+0.30%
3 months	+16.14%	+0.84%
6 months	+24.88%	+1.79%
1 year	+97.54%	+3.98%
5 years(CAGR)	+21.61%	+3.25%
10 years(CAGR)	+30.11%	N/A
Max(CAGR)	+33.01%	+2.89%

Winner

UPRO

+28.36%

BILS

+0.30%

Winner

UPRO

+16.14%

BILS

+0.84%

Winner

UPRO

+24.88%

BILS

+1.79%

Winner

UPRO

+97.54%

BILS

+3.98%

5Y(CAGR)

Winner

UPRO

+21.61%

BILS

+3.25%

10Y(CAGR)

UPRO

+30.11%

BILS

N/A

Max(CAGR)

Winner

UPRO

+33.01%

BILS

+2.89%

UPRO vs BILS - Annual Returns (2009 - 2026)

Returns include dividend reinvestment.

Year	UPRO	BILS
2026	+19.94%	+1.16%
2025	+33.00%	+4.19%
2024	+66.56%	+5.15%
2023	+70.82%	+4.92%
2022	-57.58%	+0.91%
2021	+107.13%	-0.08%
2020	+7.18%	+0.00%
2019	+101.91%	N/A
2018	-26.65%	N/A
2017	+67.74%	N/A
2016	+36.68%	N/A
2015	-4.99%	N/A
2014	+42.06%	N/A
2013	+103.37%	N/A
2012	+40.02%	N/A
2011	-14.37%	N/A
2010	+29.81%	N/A
2009	+73.78%	N/A

UPRO vs BILS Drawdown Comparison

The maximum drawdown for UPRO was -76.82%, occurring on Mar 23, 2020. Recovery took 225 trading sessions.

The maximum drawdown for BILS was -0.41%, occurring on Jun 14, 2022. Recovery took 415 trading sessions.

Rank	UPRO	BILS
#1	-76.82% Feb 19, 2020 - Jan 8, 2021	-0.41% Feb 5, 2021 - Sep 29, 2022
#2	-63.94% Jan 3, 2022 - Jun 17, 2024	-0.08% Oct 6, 2022 - Oct 27, 2022
#3	-51.73% Apr 29, 2011 - Apr 2, 2012	-0.07% Mar 17, 2023 - Mar 23, 2023
#4	-50.28% Sep 20, 2018 - Jul 12, 2019	-0.04% Feb 1, 2024 - Feb 7, 2024
#5	-48.86% Feb 19, 2025 - Jul 25, 2025	-0.04% Apr 5, 2023 - Apr 13, 2023
#6	-42.88% Apr 23, 2010 - Dec 10, 2010	-0.04% Mar 13, 2023 - Mar 15, 2023
#7	-39.29% May 21, 2015 - Jul 18, 2016	-0.03% Mar 2, 2023 - Mar 9, 2023
#8	-29.34% Jan 26, 2018 - Aug 29, 2018	-0.03% Apr 8, 2025 - Apr 11, 2025
#9	-27.26% Apr 2, 2012 - Sep 6, 2012	-0.03% Apr 13, 2023 - Apr 19, 2023
#10	-26.79% Jan 12, 2026 - Apr 17, 2026	-0.03% Nov 10, 2022 - Nov 17, 2022
#11	-24.41% Jul 16, 2024 - Sep 24, 2024	-0.03% Oct 28, 2025 - Oct 31, 2025
#12	-22.72% Jan 19, 2010 - Mar 16, 2010	-0.03% Mar 24, 2023 - Mar 30, 2023
#13	-21.27% Sep 14, 2012 - Jan 4, 2013	-0.02% Oct 9, 2020 - Feb 5, 2021
#14	-21.05% Sep 18, 2014 - Nov 3, 2014	-0.02% Dec 17, 2024 - Dec 19, 2024
#15	-18.18% Feb 18, 2011 - Apr 26, 2011	-0.02% Mar 15, 2023 - Mar 17, 2023

Correlation

Correlation between UPRO and BILS is 0.89 which considered as a strong positive correlation - the stocks tend to move together.

0.89

-101

Dividend Comparison (2009 - 2026)

UPRO vs BILS dividend yield comparison.

Year	UPRO	BILS
2026	0.16%	1.16%
2025	0.84%	4.08%
2024	0.93%	5.01%
2023	0.74%	4.98%
2022	0.52%	1.61%
2021	0.06%	0.00%
2020	0.11%	0.00%
2019	0.41%	0.00%
2018	0.63%	0.00%
2016	0.12%	0.00%
2015	0.34%	0.00%
2014	0.22%	0.00%
2013	0.07%	0.00%
2012	0.05%	0.00%
2011	0.06%	0.00%
2010	0.18%	0.00%
2009	0.11%	0.00%