SKF vs UYG: which held to its multiple?
Over three months against its own daily promise, SKF finished 2.5 points over and UYG 1.5 points short. ProShares UltraShort Financials and ProShares Ultra Financials.
SKF returned +5.7% while −2 times XLF's move would have been +4.4%
UYG returned −6.2% while 2 times XLF's move would have been −4.4%
SKF among the 125 inverse ETFs over three months
UYG among the 470 leveraged ETFs, long, over three months
A percentile among the 125 inverse ETFs over three months. UYG is a percentile among the 470 leveraged ETFs, long, over three months, a different set, so the two marks are not on one scale. 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
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | SKF | UYG | SKF | UYG | SKF | UYG |
| 1 month | +16.2% | −14.3% | +14.3% | −14.3% | +1.9 pts | 0.0 pts |
| 3 months | +5.7% | −6.2% | +4.4% | −4.4% | +1.4 pts | −1.9 pts |
| 6 months | −13.7% | +14.3% | −17.5% | +17.5% | +3.9 pts | −3.3 pts |
| 1 year | +2.4% | −6.4% | −1.4% | +1.4% | +3.7 pts | −7.7 pts |
| 3 years | −60.2% | +116.7% | −137.2% | +137.2% | +77.0 pts | −20.5 pts |
| Since launch SKF Jan 2010 · UYG Jan 2010 | −99.5% | +1068.3% | not meaningful | not meaningful | not meaningful | not meaningful |
SKF and UYG over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
SKF and UYG on the same fields, as of Sep 30, 2026. Source: ETFIQ.
SKF in plain words
Three months to Sep 30, 2026: SKF returned +5.7% where its own daily promise gave +3.2%, 2.5 points over. Read the multiple against the whole window instead and −2 times XLF's −2.2% implies +4.4%, which makes SKF look 1.4 points over. 1.2 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. SKF aims to return -2 times XLF'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. XLF moved at 13% 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.
UYG in plain words
Three months to Sep 30, 2026: UYG returned −6.2% where its own daily promise gave −4.7%, 1.5 points short. Read the multiple against the whole window instead and 2 times XLF's −2.2% implies −4.4%, which makes UYG look 1.9 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. UYG aims to return +2 times XLF's move each day, then resets. 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.
Questions people ask
- Which came closer to its stated multiple, SKF or UYG?
- Over the window to Sep 30, 2026, SKF finished 1.4 points from what its multiple implies and UYG finished 1.9 points from its own, so SKF came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SKF and UYG levered on the same thing?
- Yes. Both are levered on financials, SKF at -2 times and UYG at +2 times the daily move.
- Which one decays faster, SKF or UYG?
- Decay follows how much the underlying moves about. Over this window SKF’s moved at 13% annualized and UYG’s at 13%, so SKF has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SKF or UYG 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.
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, SKF against UYG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/skf-vs-uyg
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, SKF against UYG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/skf-vs-uyg Free to use with attribution; the underlying files are at Open data.
Other forms
- Plain
- ETFIQ, SKF against UYG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/skf-vs-uyg
- APA
- ETFIQ. (Sep 30, 2026). SKF against UYG. Retrieved from https://etfiq.com/compare/leverage/skf-vs-uyg
- Markdown
- [SKF against UYG (ETFIQ, Sep 30, 2026)](https://etfiq.com/compare/leverage/skf-vs-uyg)