UPRO vs VOO
UPRO vs VOO
ProShares UltraPro S&P 500 vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. UPRO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | UPRO | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.03% | |
| AUM | $5.1B | $979.0B | |
| Dividend Yield | 0.37% | 1.09% | |
| Holdings | 520 | 509 | |
| YTD Return | +20.59% | +9.95% | |
| 1Y Return | +44.86% | +19.58% | |
| 3Y Return (annualized) | +40.03% | +19.43% | |
| 5Y Return (annualized) | +18.44% | +12.89% | |
| Volatility (annualized) | 44.6% | 14.2% | |
| Max Drawdown | -76.8% | -34.3% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 23, 2009 | Sep 7, 2010 |
UPRO vs VOO Performance
ProShares UltraPro S&P 500 (UPRO) is a ETF from ProShares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year UPRO returned +44.86% while VOO returned +19.58%. Year to date, UPRO is up 20.59% versus a gain of 9.95% for VOO.
Over three years, UPRO compounded at +40.03% per year against +19.43% for VOO; over five years the annualized figures are +18.44% and +12.89% respectively. Across the full 16-year window we track, UPRO has the edge at +32.20% annualized vs +13.35%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UPRO has been the more volatile fund, with annualized monthly volatility of 44.6% 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 -76.8% for UPRO 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
UPRO charges 0.89% per year while VOO charges 0.03%. On a $10,000 position that is $89 vs $3 annually, a gap of $86 per year that compounds over a long holding period. On income, UPRO currently yields 0.37% against 1.09% for VOO.
Holdings Overlap
UPRO and VOO share 489 holdings out of 520 unique holdings combined, representing a 45.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in UPRO | Weight in VOO | Difference |
|---|---|---|---|
| NVDA | 3.40% | 7.51% | 4.11% |
| AAPL | 3.29% | 6.59% | 3.30% |
| MSFT | 2.06% | 4.30% | 2.24% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
See all 10 holdings UPRO shares with VOO Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, UPRO or VOO?
UPRO has an expense ratio of 0.89% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, UPRO or VOO?
Over the past year UPRO returned +44.86% vs +19.58% for VOO, so UPRO leads on 1-year performance. Over the longest common window we track (16 years), UPRO annualized +32.20% vs +13.35% for VOO. Past performance does not guarantee future results.
Which is riskier, UPRO or VOO?
UPRO has been the more volatile fund at 44.6% annualized versus 14.2% for VOO. Worst drawdown: UPRO -76.8% vs VOO -34.3%.
Should I hold both UPRO and VOO?
UPRO and VOO have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between UPRO and VOO?
UPRO and VOO share 489 common holdings with a 45.3% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, UPRO or VOO?
UPRO yields 0.37% while VOO yields 1.09%, so VOO currently pays the higher dividend yield.
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