# UPLT (ProShares Ultra Platinum K-1 Free ETF)

ProShares · Leveraged ETFs · data as of Oct 2, 2026

Three months to Oct 2, 2026: UPLT returned +1.1% where its own daily promise gave +6.6%, 5.5 points short.

## Key facts

- UPLT, what PPLT did: +4.8%, as of Oct 2, 2026.
- UPLT, what 2 times a day gives: +6.6%, as of Oct 2, 2026.
- UPLT, what the fund returned: +1.1%, as of Oct 2, 2026.
- UPLT, the fund itself cost: −5.5 pts, as of Oct 2, 2026.
- UPLT, net assets: $3m (issuer page, as of Oct 2, 2026).
- UPLT, expense ratio: 0.95% (485BPOS XBRL, Sep 25, 2026).

## UPLT over each window to Oct 2, 2026

| Window | Fund | PPLT | +2x the move | Difference | PPLT moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −9.0% | −3.4% | −6.9% | −2.1 pts | 37% |
| 3 months | +1.1% | +4.8% | +9.6% | −8.6 pts | 35% |
| Since launch | −42.2% | −15.7% | −31.4% | −10.7 pts | 38% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of PPLT, reset daily | ETFIQ |
| Multiple a holder actually got over the window | PPLT moved +4.8% over this window, too little to read a multiple from | ETFIQ |
| Underlying | PPLT | ETFIQ |
| Segment | asset class, metal | ETFIQ |
| Net assets | $3m | issuer page, as of Oct 2, 2026 |
| Expense ratio | 0.95% | 485BPOS XBRL, Sep 25, 2026 |
| Launched | Apr 21, 2026 | ETFIQ |
| Underlying volatility over the window | 35% annualized | ETFIQ |

## Questions

### Did UPLT return +2 times PPLT?

Over the window to Oct 2, 2026, PPLT moved +4.8% and UPLT returned +1.1%. 2 times that move is +9.6%, so the fund came out 8.6 points short of it.

### Why does UPLT not return +2 times over a year?

Because it resets daily. UPLT aims at +2 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 +2 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, UPLT, data as of Oct 2, 2026. https://etfiq.com/funds/uplt
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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