# UDOW (ProShares UltraPro Dow30)

ProShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: UDOW returned −10.1% where its own daily promise gave −7.8%, 2.3 points short.

## Key facts

- UDOW, what DIA did: −2.3%, as of Sep 30, 2026.
- UDOW, what 3 times a day gives: −7.8%, as of Sep 30, 2026.
- UDOW, what the fund returned: −10.1%, as of Sep 30, 2026.
- UDOW, the fund itself cost: −2.3 pts, as of Sep 30, 2026.
- UDOW, net assets: $833m (issuer page, as of Sep 30, 2026).
- UDOW, expense ratio: 0.95% (485BPOS XBRL, Sep 23, 2025).

## UDOW over each window to Sep 30, 2026

| Window | Fund | DIA | +3x the move | Difference | DIA moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −12.9% | −4.1% | −12.3% | −0.5 pts | 11% |
| 3 months | −10.1% | −2.3% | −7.0% | −3.1 pts | 12% |
| 6 months | +24.3% | +10.0% | +30.1% | −5.8 pts | 12% |
| 1 year | +19.0% | +11.3% | +33.8% | −14.9 pts | 13% |
| 3 years | +142.8% | +59.3% | +177.9% | −35.1 pts | 14% |
| Since launch | +4113.2% | +612.3% | not meaningful over this window | not meaningful over this window | 16% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of DIA, reset daily | ETFIQ |
| Multiple a holder actually got over the window | DIA moved −2.3% over this window, too little to read a multiple from | ETFIQ |
| Underlying | DIA | ETFIQ |
| Segment | broad index, US large cap | ETFIQ |
| Net assets | $833m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 23, 2025 |
| Launched | Feb 11, 2010 | ETFIQ |
| Underlying volatility over the window | 12% annualized | ETFIQ |

## Questions

### Did UDOW return +3 times DIA?

Over the window to Sep 30, 2026, DIA moved −2.3% and UDOW returned −10.1%. 3 times that move is −7.0%, so the fund came out 3.1 points short of it.

### Why does UDOW not return +3 times over a year?

Because it resets daily. UDOW aims at +3 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +3 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, UDOW, data as of Sep 30, 2026. https://etfiq.com/funds/udow
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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