UPRO vs SPXL
Comparison between PROSHARES ULTRAPRO S&P500 (UPRO, ETF) and DIREXION DAILY S&P 500(R) BULL 3X SHARES (SPXL, ETF).
5-Year PerformanceSPXL has outperformed UPRO, delivering a return of +20.4% compared to +20.1%
UPRO vs SPXL - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
UPRO
$5.30B
Winner
SPXL
$6.90B
Max Drawdown
Winner
UPRO
76.82%
SPXL
76.86%
Sharpe Ratio
UPRO
1.17
Winner
SPXL
1.18
5Y Beta
UPRO
2.90
Winner
SPXL
2.89
P/E Ratio
UPRO
N/A
SPXL
28.53
Forward P/E
UPRO
N/A
SPXL
21.49
5Y Dividends CAGR
Winner
UPRO
115.97%
SPXL
58.17%
Debt to Equity
UPRO
N/A
SPXL
26.24%
P/S Ratio
UPRO
N/A
SPXL
3.53
P/B Ratio
UPRO
N/A
SPXL
5.83
UPRO vs SPXL - Holdings Comparison
UPRO and SPXL have 448 common holdings. Overlap is 35.64%
UPRO's top 25 holdings weight is 63.09%. SPXL's top 25 holdings weight is 71.49%.
| Rank | UPRO | SPXL |
|---|---|---|
| #1 | PROSHARES GENIUS MONEY MARKET ETF (IQMM) - 23.16% | S&P 500 INDEX SWAP (n/a) - 16.27% |
| #2 | S&P 500 INDEX SWAP (n/a) - 19.58% | DREYFUS TRSRY SECURITIES CASH MGMT (n/a) - 13.11% |
| #3 | NVIDIA CORP (NVDA) - 3.87% | DREYFUS GOVT CASH MAN INS (n/a) - 6.96% |
| #4 | APPLE INC (AAPL) - 3.49% | NVIDIA CORP (NVDA) - 5.61% |
| #5 | MICROSOFT CORP (MSFT) - 2.16% | APPLE INC (AAPL) - 5.06% |
| #6 | AMAZON.COM INC (AMZN) - 1.83% | MICROSOFT CORP (MSFT) - 3.13% |
| #7 | ALPHABET INC CLASS A (GOOGL) - 1.59% | GOLDMAN FINL SQ TRSRY INST 506 (n/a) - 2.97% |
| #8 | BROADCOM INC (AVGO) - 1.39% | AMAZON.COM INC (AMZN) - 2.65% |
| #9 | ALPHABET INC CLASS C (GOOG) - 1.27% | JP MORGAN 100 US TRSY CAPITAL 3163 (n/a) - 2.64% |
| #10 | META PLATFORMS INC CLASS A (META) - 1.10% | ALPHABET INC CLASS A (GOOGL) - 2.31% |
| #11 | MICRON TECHNOLOGY INC (MU) - 0.84% | BROADCOM INC (AVGO) - 2.01% |
| #12 | TESLA INC (TSLA) - 0.84% | CASH (n/a) - 1.93% |
| #13 | CITIGROUP INC (C) - 0.17% | ALPHABET INC CLASS C (GOOG) - 1.85% |
| #14 | TRANE TECHNOLOGIES PLC CLASS A (TT) - 0.16% | META PLATFORMS INC CLASS A (META) - 1.59% |
| #15 | ORACLE CORP (ORCL) - 0.16% | TESLA INC (TSLA) - 1.22% |
| #16 | CROWDSTRIKE HOLDINGS INC CLASS A (CRWD) - 0.16% | ORACLE CORP (ORCL) - 0.24% |
| #17 | THERMO FISHER SCIENTIFIC INC (TMO) - 0.15% | CROWDSTRIKE HOLDINGS INC CLASS A (CRWD) - 0.23% |
| #18 | INTERNATIONAL BUSINESS MACHINES CORP (IBM) - 0.15% | THERMO FISHER SCIENTIFIC INC (TMO) - 0.22% |
| #19 | WESTERN DIGITAL CORP (WDC) - 0.15% | SEAGATE TECHNOLOGY HOLDINGS PLC (STX) - 0.22% |
| #20 | AMPHENOL CORP CLASS A (APH) - 0.15% | INTERNATIONAL BUSINESS MACHINES CORP (IBM) - 0.22% |
| #21 | MARVELL TECHNOLOGY INC (MRVL) - 0.15% | MARVELL TECHNOLOGY INC (MRVL) - 0.21% |
| #22 | SEAGATE TECHNOLOGY HOLDINGS PLC (STX) - 0.15% | WESTERN DIGITAL CORP (WDC) - 0.21% |
| #23 | MCDONALD'S CORP (MCD) - 0.14% | AMERICAN EXPRESS CO (AXP) - 0.21% |
| #24 | NEXTERA ENERGY INC (NEE) - 0.14% | MCDONALD'S CORP (MCD) - 0.21% |
| #25 | ARISTA NETWORKS INC (ANET) - 0.14% | ARISTA NETWORKS INC (ANET) - 0.21% |
| Total Holdings | 468 | 455 |
UPRO vs SPXL - Historical Returns
Returns include dividend reinvestment.
1M
UPRO
+0.56%
Winner
SPXL
+0.57%
3M
UPRO
+16.49%
Winner
SPXL
+16.72%
6M
UPRO
+22.24%
Winner
SPXL
+22.55%
1Y
UPRO
+49.67%
Winner
SPXL
+50.27%
5Y(CAGR)
UPRO
+20.07%
Winner
SPXL
+20.45%
10Y(CAGR)
UPRO
+28.49%
Winner
SPXL
+28.61%
Max(CAGR)
Winner
UPRO
+32.73%
SPXL
+28.34%
UPRO vs SPXL - Annual Returns (2008 - 2026)
Returns include dividend reinvestment.
| Year | UPRO | SPXL |
|---|---|---|
| 2026 | +22.51% | +22.83% |
| 2025 | +33.00% | +33.02% |
| 2024 | +66.56% | +66.58% |
| 2023 | +70.82% | +71.53% |
| 2022 | -57.58% | -57.31% |
| 2021 | +107.13% | +107.32% |
| 2020 | +7.18% | +6.68% |
| 2019 | +101.91% | +102.65% |
| 2018 | -26.65% | -26.55% |
| 2017 | +67.74% | +67.50% |
| 2016 | +36.68% | +35.96% |
| 2015 | -4.99% | -5.43% |
| 2014 | +42.06% | +41.39% |
| 2013 | +103.37% | +102.91% |
| 2012 | +40.02% | +37.95% |
| 2011 | -14.37% | -17.26% |
| 2010 | +29.81% | +32.94% |
| 2009 | +73.78% | +50.59% |
| 2008 | N/A | -28.52% |
UPRO vs SPXL Drawdown Comparison
The maximum drawdown for UPRO was -76.82%, occurring on Mar 23, 2020. Recovery took 225 trading sessions.
The maximum drawdown for SPXL was -76.86%, occurring on Mar 23, 2020. Recovery took 225 trading sessions.
The current UPRO drawdown is -5.74%. The current SPXL drawdown is -5.71%.
| Rank | UPRO | SPXL |
|---|---|---|
| #1 | -76.82% Feb 19, 2020 - Jan 8, 2021 | -76.86% Feb 19, 2020 - Jan 8, 2021 |
| #2 | -63.94% Jan 3, 2022 - Jun 17, 2024 | -71.32% Nov 5, 2008 - Sep 15, 2009 |
| #3 | -51.73% Apr 29, 2011 - Apr 2, 2012 | -63.80% Jan 3, 2022 - Jun 12, 2024 |
| #4 | -50.28% Sep 20, 2018 - Jul 12, 2019 | -53.81% Apr 29, 2011 - Sep 13, 2012 |
| #5 | -48.86% Feb 19, 2025 - Jul 25, 2025 | -50.17% Sep 20, 2018 - Jul 12, 2019 |
| #6 | -42.88% Apr 23, 2010 - Dec 10, 2010 | -48.95% Dec 6, 2024 - Jul 25, 2025 |
| #7 | -39.29% May 21, 2015 - Jul 18, 2016 | -43.44% Apr 23, 2010 - Dec 10, 2010 |
| #8 | -29.34% Jan 26, 2018 - Aug 29, 2018 | -39.56% May 21, 2015 - Jul 20, 2016 |
| #9 | -27.26% Apr 2, 2012 - Sep 6, 2012 | -29.48% Jan 26, 2018 - Sep 20, 2018 |
| #10 | -26.79% Jan 12, 2026 - Apr 17, 2026 | -26.77% Jan 12, 2026 - Apr 17, 2026 |
| #11 | -24.41% Jul 16, 2024 - Sep 24, 2024 | -24.36% Jul 16, 2024 - Sep 26, 2024 |
| #12 | -22.72% Jan 19, 2010 - Mar 16, 2010 | -22.79% Jan 19, 2010 - Mar 11, 2010 |
| #13 | -21.27% Sep 14, 2012 - Jan 4, 2013 | -21.42% Sep 14, 2012 - Jan 10, 2013 |
| #14 | -21.05% Sep 18, 2014 - Nov 3, 2014 | -21.05% Sep 18, 2014 - Nov 3, 2014 |
| #15 | -18.18% Feb 18, 2011 - Apr 26, 2011 | -17.96% Jul 26, 2019 - Nov 1, 2019 |
Correlation
Correlation between UPRO and SPXL is 1.00 which considered as a very strong positive correlation - the stocks move almost identically together.
1.00
-101
Dividend Comparison (2008 - 2026)
UPRO vs SPXL dividend yield comparison.
| Year | UPRO | SPXL |
|---|---|---|
| 2026 | 0.37% | 0.36% |
| 2025 | 0.84% | 0.69% |
| 2024 | 0.93% | 0.74% |
| 2023 | 0.74% | 0.98% |
| 2022 | 0.52% | 0.32% |
| 2021 | 0.06% | 0.11% |
| 2020 | 0.11% | 0.22% |
| 2019 | 0.41% | 0.84% |
| 2018 | 0.63% | 1.02% |
| 2017 | 0.00% | 3.88% |
| 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% | 2.17% |
| 2009 | 0.11% | 13.15% |
| 2008 | 0.00% | 0.18% |
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