Data as of .
MVV vs UMDD: which held to its multiple?
Over three months against its own daily promise, MVV finished 1.2 points short and UMDD 2.2 points short.
ETFIQ Decay Resistance Score: MVV scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| MVV | UMDD | MVV | UMDD | MVV | UMDD | |
| 1 month | −9.7% | −14.4% | −9.3% | −13.9% | −0.4 pts | −0.5 pts |
| 3 months | −5.4% | −8.9% | −3.9% | −5.8% | −1.5 pts | −3.1 pts |
| 6 months | +20.3% | +28.5% | +23.3% | +34.9% | −2.9 pts | −6.4 pts |
| 1 year | +18.5% | +22.8% | +26.0% | +39.0% | −7.5 pts | −16.2 pts |
| 3 years | +68.8% | +79.2% | +98.4% | +147.6% | −29.6 pts | −68.4 pts |
| Since launch | +1148.2% | +1552.5% | not meaningful | not meaningful | not meaningful | not meaningful |
| MVV ProShares Ultra MidCap400 Aims to return twice the daily move of the S&P MidCap 400 | UMDD ProShares UltraPro MidCap400 Aims to return three times the daily move of the S&P MidCap 400 | |
|---|---|---|
| Issuer | ProShares | ProShares |
| Sets out to return | +2x | +3x |
| On | MDY | MDY |
| Segment | us mid cap | us mid cap |
| Fund returned, 3 months | −5.4% | −8.9% |
| Underlying returned, 3 months | −1.9% | −1.9% |
| What the stated multiple implies, 3 months | −3.9% | −5.8% |
| Difference from stated, 3 months | −1.5 pts | −3.1 pts |
| Fund returned, 1 year or since launch | +18.5% | +22.8% |
| Difference from stated, over that window | −7.5 pts | −16.2 pts |
| Underlying volatility | 12% | 12% |
| Difference over the days both have traded | no shared window | −3.1 pts |
| Expense ratio | 0.95% | 0.95% |
| Launched | Jan 4, 2010 | Feb 11, 2010 |
MVV in plain words
Three months to Sep 11, 2026: MVV returned −5.4% where its own daily promise gave −4.2%, 1.2 points short. Read the multiple against the whole window instead and +2 times MDY's −1.9% implies −3.9%, which makes MVV look 1.5 points short. 0.3 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. MVV aims to return +2 times MDY's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. MDY moved at 12% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
UMDD in plain words
Three months to Sep 11, 2026: UMDD returned −8.9% where its own daily promise gave −6.7%, 2.2 points short. Read the multiple against the whole window instead and +3 times MDY's −1.9% implies −5.8%, which makes UMDD look 3.1 points short. 0.9 of that is daily compounding, which happens to any +3 times fund over the same path, and the rest is the fund. UMDD aims to return +3 times MDY's move each day, then resets. Over longer, the daily results compound, so the total is not +3 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, MVV or UMDD?
- Over the window to Sep 11, 2026, MVV finished 1.5 points from what its multiple implies and UMDD finished 3.1 points from its own, so MVV came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are MVV and UMDD levered on the same thing?
- Yes. Both are levered on the S&P MidCap 400, MVV at +2 times and UMDD at +3 times the daily move.
- Which one decays faster, MVV or UMDD?
- Decay follows how much the underlying moves about. Over this window MVV’s moved at 12% annualized and UMDD’s at 12%, so MVV has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold MVV or UMDD for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, MVV or UMDD?
- MVV charges 0.95% a year and UMDD charges 0.95%, so MVV is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, MVV against UMDD, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/MVV-UMDD Free to use with attribution; the underlying files are at Open data.