Which came closer to its stated multiple, UYM or XLBX?

Over the window to Sep 30, 2026, UYM finished 2.7 points from what its multiple implies and XLBX finished 2.6 points from its own, so XLBX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are UYM and XLBX levered on the same thing?

Yes. Both are levered on State Street Materials Select Sector SPDR ETF, UYM at +2 times and XLBX at +2 times the daily move.

Which one decays faster, UYM or XLBX?

Decay follows how much the underlying moves about. Over this window UYM’s moved at 17% annualized and XLBX’s at 17%, so UYM has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold UYM or XLBX 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, UYM or XLBX?

UYM charges 0.95% a year and XLBX charges 0.45%, so XLBX is cheaper. Fees come from each fund's prospectus.

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UYM vs XLBX: which held to its multiple?

Over the days both have traded, UYM finished 2.7 points from its stated multiple and XLBX 2.6. ProShares Ultra Materials and Corgi U.S. Materials 2x Daily ETF.

−10.9%

UYM returned, 3 months

−10.8%

XLBX returned, 3 months

−2.7 pts

UYM from its stated multiple

−2.6 pts

XLBX from its stated multiple

UYM · 3 months to Sep 30, 20262.7 pts short of its stated multiple

UYM returned −10.9% while 2 times XLB's move would have been −8.2%

XLBX · 3 months to Sep 30, 20262.6 pts short of its stated multiple

XLBX returned −10.8% while 2 times XLB's move would have been −8.2%

ETFIQ Decay Resistance Score · XLBX scores higherDid it keep up with its own daily multiple, compounded day by day?

UYM 63.3

XLBX 67.1

0.1, the lowest in this set99.9, the highest

A percentile among the 470 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

	Total return		Multiple would give		Difference
Window	UYM	XLBX	UYM	XLBX	UYM	XLBX
1 month	−15.2%	−14.5%	−14.3%	−14.3%	−0.9 pts	−0.2 pts
3 months	−10.9%	−10.8%	−8.2%	−8.2%	−2.7 pts	−2.6 pts
6 months	−10.3%	not published	−5.4%	not published	−5.0 pts	not published
1 year	+11.2%	not published	+21.3%	not published	−10.1 pts	not published
3 years	+28.2%	not published	+62.6%	not published	−34.3 pts	not published
Since launch UYM Jan 2010 · XLBX Jun 2026	+258.5%	−13.6%	not meaningful	−9.8%	not meaningful	−3.8 pts

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

On the same fields

UYM

ProShares Ultra Materials · Aims to return twice the daily move of State Street Materials Select Sector SPDR ETF (XLB)

XLBX

Corgi U.S. Materials 2x Daily ETF · Aims to return twice the daily move of State Street Materials Select Sector SPDR ETF (XLB)

Issuer ProShares Corgi

Sets out to return +2x +2x

Underlying asset XLB XLB

Segment sector sector

Fund returned, 3 months or since launch −10.9% −10.8%

Underlying returned, over that window −4.1% −4.1%

What the stated multiple implies, over that window −8.2% −8.2%

Difference from stated, over that window −2.7 pts −2.6 pts

Fund returned, 1 year or since launch +11.2% −13.6%

Difference from stated, over that window −10.1 pts −3.8 pts

Underlying volatility 17% 17%

Difference over the days both have traded −2.7 pts −2.6 pts

Expense ratio 0.95% 0.45%

Launched Jan 4, 2010 Jun 3, 2026

Net assets $34m $324,474

UYM and XLBX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

UYM in plain words

Three months to Sep 30, 2026: UYM returned −10.9% where its own daily promise gave −8.7%, 2.2 points short. Read the multiple against the whole window instead and 2 times XLB's −4.1% implies −8.2%, which makes UYM look 2.7 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. UYM aims to return +2 times XLB'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. XLB moved at 17% 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.

XLBX in plain words

Three months to Sep 30, 2026: XLBX returned −10.8% where its own daily promise gave −8.7%, 2.1 points short. Read the multiple against the whole window instead and 2 times XLB's −4.1% implies −8.2%, which makes XLBX look 2.6 points short. XLBX aims to return +2 times XLB's move each day, then resets.

Questions people ask

Which came closer to its stated multiple, UYM or XLBX?: Over the window to Sep 30, 2026, UYM finished 2.7 points from what its multiple implies and XLBX finished 2.6 points from its own, so XLBX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are UYM and XLBX levered on the same thing?: Yes. Both are levered on State Street Materials Select Sector SPDR ETF, UYM at +2 times and XLBX at +2 times the daily move.
Which one decays faster, UYM or XLBX?: Decay follows how much the underlying moves about. Over this window UYM’s moved at 17% annualized and XLBX’s at 17%, so UYM has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold UYM or XLBX 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, UYM or XLBX?: UYM charges 0.95% a year and XLBX charges 0.45%, so XLBX is cheaper. Fees come from each fund's prospectus.

Other comparisons

UYM vs SMN XLBX vs SMN

XLB →UYM on its own →XLBX on its own →How every figure is computed →Standards and sources →

Where these figures came from

UYM filings on SEC EDGAR ↗UYM prospectus with the expense ratio (SEC) ↗ProShares page for UYM ↗XLBX filings on SEC EDGAR ↗XLBX prospectus with the expense ratio (SEC) ↗Corgi 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, UYM against XLBX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/uym-vs-xlbx

Open data

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