ETFIQ
RankingsCompareHoldingsResearch
My portfolioWeekly note
A
vs
B
Share on XDownload as PDFOpen live

UGE vs XLPD: which held to its multiple?

UGE returns +2 times XLP each day and XLPD -3 times, and they share no window yet. ProShares Ultra Consumer Staples and MicroSectors -3x Short Consumer Staples (XLP) ETNs.

−7.1%
UGE returned, 3 months
+6.6%
XLPD returned, since launch
−1.9 pts
UGE from its stated multiple
−0.5 pts
XLPD from its stated multiple
UGE · 3 months to Sep 30, 20261.9 pts short of its stated multiple
1.9 pts short of its stated multipleUGE returned −7.1% while 2 times XLP's move would have been −5.2%XLP −2.6% ×2 implies−5.2%UGE returned−7.1%1.9 pts short of its stated multipleUGE returned −7.1% while 2 times XLP's move would have been −5.2%XLP −2.6% ×2 implies−5.2%UGE returned−7.1%

UGE returned −7.1% while 2 times XLP's move would have been −5.2%

XLPD · since launch to Sep 30, 2026On its stated multiple
On its stated multipleXLPD returned +6.6% while −3 times XLP's move would have been +7.1%XLP −2.4% ×−3 implies+7.1%XLPD returned+6.6%On its stated multipleXLPD returned +6.6% while −3 times XLP's move would have been +7.1%XLP −2.4% ×−3 implies+7.1%XLPD returned+6.6%

XLPD returned +6.6% while −3 times XLP's move would have been +7.1%

Performance, window by window

Total returnMultiple would giveDifference
WindowUGEXLPDUGEXLPDUGEXLPD
1 month−9.0%not published−9.1%not published+0.1 ptsnot published
3 months−7.1%not published−5.2%not published−1.9 ptsnot published
6 months−3.4%not published+0.6%not published−4.0 ptsnot published
1 year+3.1%not published+11.4%not published−8.3 ptsnot published
3 years+26.4%not published+54.1%not published−27.7 ptsnot published
Since launch
UGE Jan 2010 · XLPD Sep 2026
+834.3%+6.6%not meaningful+7.1%not meaningful−0.5 pts

UGE and XLPD over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

UGE
ProShares Ultra Consumer Staples · Aims to return twice the daily move of State Street Consumer Staples Select Sector SPDR ETF (XLP)
XLPD
MicroSectors -3x Short Consumer Staples (XLP) ETNs · Aims to return three times the opposite of the daily move of State Street Consumer Staples Select Sector SPDR ETF (XLP)
Issuer ProShares MicroSectors
Sets out to return +2x -3x
Underlying asset XLP XLP
Segment sector index
Fund returned, 3 months or since launch −7.1% +6.6%
Underlying returned, over that window −2.6% −2.4%
What the stated multiple implies, over that window −5.2% +7.1%
Difference from stated, over that window −1.9 pts −0.5 pts
Fund returned, 1 year or since launch +3.1% +6.6%
Difference from stated, over that window −8.3 pts −0.5 pts
Underlying volatility 16% 12%
Difference over the days both have traded −1.9 pts no shared window
Expense ratio 0.95% not published
Launched Jan 4, 2010 Sep 10, 2026
Net assets $8m not published

UGE and XLPD on the same fields, as of Sep 30, 2026. Source: ETFIQ.

UGE in plain words

Three months to Sep 30, 2026: UGE returned −7.1% where its own daily promise gave −5.7%, 1.4 points short. Read the multiple against the whole window instead and 2 times XLP's −2.6% implies −5.2%, which makes UGE look 1.9 points short. 0.5 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. UGE aims to return +2 times XLP'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. XLP moved at 16% 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.

XLPD in plain words

Since launch to Sep 30, 2026: XLPD returned +6.6% where its own daily promise gave +6.9%, 0.3 points short. Read the multiple against the whole window instead and −3 times XLP's −2.4% implies +7.1%, which makes XLPD look 0.5 points short. 0.2 of that is daily compounding, which happens to any −3 times fund over the same path, and the rest is the fund. XLPD aims to return -3 times XLP'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. XLP moved at 12% annualized over that window.

Questions people ask

Are UGE and XLPD levered on the same thing?
Yes. Both are levered on State Street Consumer Staples Select Sector SPDR ETF, UGE at +2 times and XLPD at -3 times the daily move.
Can I hold UGE or XLPD 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.
Other comparisons
UGE vs XLPUUGE vs XLPXUGE vs SZKXLPD vs XLPUXLPD vs XLPXXLPD vs SZK
XLP →UGE on its own →XLPD on its own →How every figure is computed →Standards and sources →
Where these figures came from
UGE filings on SEC EDGAR ↗UGE prospectus with the expense ratio (SEC) ↗ProShares page for UGE ↗MicroSectors website ↗

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.

Cite this page

ETFIQ, UGE against XLPD, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/uge-vs-xlpd

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.