UPRO – ProShares UltraPro S&P 500

About UPRO

UPRO (ProShares UltraPro S&P 500) is a leveraged S&P 500 ETF from ProShares. It aims to deliver 3× the daily percentage change of the S&P 500, for a single day only. We don't show an expense ratio for UPRO because the figures in our sources didn't match; check the issuer's fact sheet for the current fee.

What it tracks

The S&P 500 covers about 500 large US companies across all major sectors and is the most widely followed gauge of the US stock market.

What to keep in mind

UPRO magnifies the daily moves of a broad index rather than a single sector, but the 3× daily reset still means its returns over weeks or months can differ sharply from three times the S&P 500's return. SPY and VOO follow the same index without leverage.

How the daily reset works

A leveraged or inverse ETF rebalances at the end of every trading day so that it starts the next day with the target exposure again. That is why its return over any period longer than one day depends on the path the index took, not just where it ended. Example: if an index rises 10% and then falls 10%, it is down 1% (1.10 × 0.90); a 3× fund rises 30% and then falls 30%, ending down 9% (1.30 × 0.70) before fees. The more the index swings, the bigger this gap becomes. Issuers describe these funds as intended for short holding periods.

On this page

The UPRO price above comes from the US regular trading session via Yahoo Finance and may be delayed; it updates automatically while this page is open. The chart switches between 1 day, 1 week, 1 month and 1 year, and the 1-week, 1-month and 1-year returns are price returns adjusted for share splits, not including distributions. The table below compares UPRO with the other funds in the same category, and you can set a free price alert to be notified when UPRO crosses a level you choose.

Other ETFs on this site built on the S&P 500: SPXU (−3×), SPY (1×), VOO (1×). See all ETF categories or today's ETF heat map.