# UMDD (ProShares UltraPro MidCap400)

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

Three months to Sep 30, 2026: UMDD returned −18.2% where its own daily promise gave −16.6%, 1.6 points short.

## Key facts

- UMDD, what MDY did: −5.6%, as of Sep 30, 2026.
- UMDD, what 3 times a day gives: −16.6%, as of Sep 30, 2026.
- UMDD, what the fund returned: −18.2%, as of Sep 30, 2026.
- UMDD, the fund itself cost: −1.6 pts, as of Sep 30, 2026.
- UMDD, net assets: $26m (issuer page, as of Sep 30, 2026).
- UMDD, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## UMDD over each window to Sep 30, 2026

| Window | Fund | MDY | +3x the move | Difference | MDY moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −12.9% | −4.2% | −12.6% | −0.3 pts | 10% |
| 3 months | −18.2% | −5.6% | −16.7% | −1.5 pts | 12% |
| 6 months | +11.4% | +6.1% | +18.4% | −7.0 pts | 14% |
| 1 year | +17.9% | +11.4% | +34.2% | −16.3 pts | 15% |
| 3 years | +79.0% | +49.0% | +146.9% | −68.0 pts | 18% |
| Since launch | +1401.8% | +525.0% | not meaningful over this window | not meaningful over this window | 20% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +3 times the daily move of MDY, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +3.27 times, against +3 stated | ETFIQ |
| Underlying | MDY | ETFIQ |
| Segment | broad index, US mid cap | ETFIQ |
| Net assets | $26m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Feb 11, 2010 | ETFIQ |
| Underlying volatility over the window | 12% annualized | ETFIQ |

## Questions

### Did UMDD return +3 times MDY?

Over the window to Sep 30, 2026, MDY moved −5.6% and UMDD returned −18.2%. 3 times that move is −16.7%, so the fund came out 1.5 points short of it.

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

Because it resets daily. UMDD 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.

### Which +3x MDY ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 3 times the underlying's move. ETFIQ does not rate funds; the order is the figure itself.


## Cite this page

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

HTML: https://etfiq.com/funds/umdd  ·  JSON: https://etfiq.com/funds/umdd.json