ETJ vs UPRO
Eaton Vance Risk-Managed Diversified Equity Income Fund vs ProShares UltraPro S&P 500
Which is better, ETJ or UPRO?
UPRO has been ahead.
UPRO has a lower expense ratio. UPRO led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ETJ | UPRO |
|---|---|---|
| Expense Ratio | 1.11% | 0.88%Best |
| AUM | $614M | $5.7B |
| Dividend Yield | 8.55% | 0.77% |
| Holdings | 74 | 520 |
| YTD Return | -1.86% | +29.25%Best |
| 1Y Return | -1.01% | +38.25%Best |
| 3Y Return (annualized) | +10.94% | +51.43%Best |
| 5Y Return (annualized) | +2.70% | +19.36%Best |
| Volatility (annualized) | 12.1%Best | 44.4% |
| Max Drawdown | -63.0%Best | -76.8% |
| $10,000 over 5 years | $11,425 | $24,227Best |
| Fund Family | Eaton Vance | ProShares |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Jul 31, 2007 | Jun 23, 2009 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 25, 2009 to Oct 14, 2026 (17.3 years).
ETJ vs UPRO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
ETJ vs UPRO Performance
Eaton Vance Risk-Managed Diversified Equity Income Fund (ETJ) is an ETF from Eaton Vance and ProShares UltraPro S&P 500 (UPRO) is an ETF from ProShares. Over the past year ETJ returned -1.01% while UPRO returned +38.25%. Year to date, ETJ is down 1.86% versus a gain of 29.25% for UPRO.
Over three years, ETJ compounded at +10.94% per year against +51.43% for UPRO; over five years the annualized figures are +2.70% and +19.36% respectively. Across the full 17-year window we track, UPRO has the edge at +32.30% annualized vs -1.42%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
UPRO has been the more volatile fund, with annualized monthly volatility of 44.4% compared with 12.1% for ETJ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -63.0% for ETJ and -76.8% for UPRO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.66. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ETJ charges 1.11% per year while UPRO charges 0.88%. On a $10,000 position that is $111 vs $88 annually, a gap of $23 per year that compounds over a long holding period. On income, ETJ currently yields 8.55% against 0.77% for UPRO.
Holdings Overlap
At least 88.7% of ETJ's money is in holdings UPRO also owns.
Stated as a floor: for UPRO, our book for it covers 72.5% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
Most of ETJ is already inside UPRO. Owning both mostly buys the same companies twice.
41 positions in common, counted across the 56 positions we hold weights for in ETJ and 502 in UPRO, against full books of 74 and 520.
Top Shared Holdings
| Stock | Weight in ETJ | Weight in UPRO | Difference |
|---|---|---|---|
| NVDANvidia Corp | 9.72% | 4.01% | 5.71% |
| MSFTMicrosoft Corp | 6.84% | 2.94% | 3.90% |
| AAPLApple, Inc | 5.24% | 3.83% | 1.41% |
| GOOGAlphabet Inc. C | 6.68% | 1.28% | 5.40% |
| AMZNAmazon.Com Inc | 5.21% | 1.95% | 3.26% |
| AVGOBroadcom Inc | 3.96% | 1.28% | 2.68% |
| JPMJpmorgan Chase | 3.26% | 0.74% | 2.52% |
| LLYEli Lilly & Co. | 2.77% | 0.71% | 2.06% |
| VVisa Inc Class A | 2.95% | 0.49% | 2.46% |
| METAMeta Platforms Inc | 2.27% | 1.15% | 1.12% |
88.7% of ETJ is already inside UPRO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ETJ or UPRO?
ETJ has an expense ratio of 1.11% while UPRO charges 0.88%. UPRO is the cheaper option, by $23 a year on a $10,000 investment.
Which performed better, ETJ or UPRO?
Over the past year ETJ returned -1.01% vs +38.25% for UPRO, so UPRO leads on 1-year performance. Over the longest common window we track (17 years), ETJ annualized -1.42% vs +32.30% for UPRO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ETJ or UPRO?
UPRO has been the more volatile fund at 44.4% annualized versus 12.1% for ETJ. Worst drawdown: ETJ -63.0% vs UPRO -76.8%.
Should I hold both ETJ and UPRO?
ETJ and UPRO have a monthly-return correlation of 0.66, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ETJ and UPRO?
At least 88.7% of ETJ's money is in holdings UPRO also owns. Our book for UPRO is partial, so the real figure is this or higher. They hold 41 positions in common, counted across the 56 positions we hold weights for in ETJ and 502 in UPRO.
Which pays a higher dividend, ETJ or UPRO?
ETJ yields 8.55% while UPRO yields 0.77%, so ETJ currently pays the higher dividend yield.
Is UPRO better than ETJ?
UPRO has a lower expense ratio. UPRO led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.