Invesco Raymond James SB-1 Equity ETF (UPGD) Performance
UPGD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +12.9% since Dec 31, 2025
- 1 year
- +13.7% total return
- 5 years
- +6.9% a year
- 10 years
- +9.7% a year
- Since first price
- +8.0% a year since 2006
UPGD trailing returns vs SPY, QQQ, AGG
| Period | UPGD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.2% | +3.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.1% | +3.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.9% | +8.9% | +7.8% | +8.4% | −1.5% |
| YTD | +12.9% | +12.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +13.7% | +11.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +66.8%+18.6%/yr | +59.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +39.4%+6.9%/yr | +31.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +152.5%+9.7%/yr | +130.5% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +372.0%+10.9%/yr | +322.3% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +473.1%+9.1%/yr | +358.4% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionMay 19, 2006 | +380.3%+8.0%/yr | +284.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: UPGD vs SPY
From May 19, 2006: UPGD grew to $48,034, SPY to $86,950.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
UPGD returns by calendar year
14 of 19 full years positive. Best 2009 (+56.3%), worst 2008 (−38.8%). 2026 is year to date.
UPGD annual returns table
| Year | UPGD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +12.9% | −10.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +8.9% | −15.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +13.3% | −7.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +15.6% | −16.1% | +26.2% | +54.9% | +5.7% |
| 2022 | −13.2% | −22.3% | −18.2% | −32.6% | −13.0% |
| 2021 | +24.1% | −9.3% | +28.7% | +27.4% | −1.8% |
| 2020 | +6.2% | −50.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +32.0% | −12.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −14.8% | −29.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +13.3% | −6.7% | +21.7% | +32.7% | +3.6% |
| 2016 | +19.7% | −14.5% | +12.0% | +7.1% | +2.4% |
| 2015 | −6.1% | −17.1% | +1.2% | +9.4% | +0.5% |
| 2014 | +4.6% | −12.7% | +13.5% | +19.2% | +6.0% |
| 2013 | +43.3% | −4.3% | +32.3% | +36.6% | −2.0% |
| 2012 | +14.7% | −13.5% | +16.0% | +18.1% | +3.8% |
| 2011 | −2.2% | −28.9% | +1.9% | +3.4% | +7.7% |
| 2010 | +27.4% | −17.9% | +15.1% | +19.9% | +6.4% |
| 2009 | +56.3% | −30.7% | +26.4% | +54.7% | +3.0% |
| 2008 | −38.8% | −58.2% | −36.8% | −41.7% | +7.9% |
| 2007 | +3.9% | −12.1% | +5.1% | +19.0% | +6.6% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
UPGD largest drawdowns
Now 1.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 23, 2006 | −60.7% | Nov 20, 2008 | Dec 3, 2010 | 2.5 years | 4.5 years |
| Aug 29, 2018 | −50.2% | Mar 18, 2020 | Dec 3, 2020 | 1.6 years | 2.3 years |
| Apr 29, 2011 | −28.9% | Oct 3, 2011 | Mar 15, 2012 | 5 months | 11 months |
| Jun 23, 2015 | −27.3% | Feb 11, 2016 | Nov 18, 2016 | 8 months | 1.4 years |
| Nov 9, 2021 | −24.3% | Jun 16, 2022 | Feb 27, 2024 | 7 months | 2.3 years |
| Nov 29, 2024 | −16.9% | Apr 8, 2025 | Aug 22, 2025 | 4 months | 9 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
UPGD risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2006 |
|---|---|---|---|---|
| Annualized return | +14.4% | +7.1% | +9.1% | +7.7% |
| Volatility (annualized) | 14.3% | 17.4% | 21.4% | 21.1% |
| Sharpe ratio | 0.71 | 0.27 | 0.41 | 0.40 |
| Sortino ratio | 1.16 | 0.42 | 0.59 | 0.57 |
| Best month | +10.3% | +11.4% | +19.4% | +19.4% |
| Worst month | −8.3% | −10.5% | −30.2% | −30.2% |
| Best 12 months | +35.7% | +35.7% | +102.5% | +102.5% |
| Worst 12 months | +0.3% | −15.2% | −34.3% | −43.0% |
| Positive months | 72% | 62% | 65% | 63% |
| Beta vs S&P 500 | 0.89 | 0.95 | 1.19 | — |
| Correlation with S&P 500 | 0.78 | 0.85 | 0.86 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
UPGD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 234 | −43.0% | +9.2% | +102.5% | 72% |
| 3-year (a year) | 210 | −13.8% | +9.4% | +37.0% | 91% |
| 5-year (a year) | 186 | −4.0% | +9.4% | +30.9% | 99% |
| 10-year (a year) | 126 | +5.4% | +9.7% | +17.7% | 100% |
Every holding period starting at a month-end since 2006. Returns for 3 years and longer are annualized.
UPGD performance overview
Invesco Raymond James SB-1 Equity ETF (UPGD) returned +13.7% over the past year and +9.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2006 it has returned +8.0% a year, turning $10,000 into about $48,034. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −60.7%, from May 23, 2006 to Nov 20, 2008, and it took 2.0 years to get back to the old high. UPGD finished 14 of its 19 full calendar years with a gain; the best year was 2009 (+56.3%) and the worst 2008 (−38.8%). Volatility has been 21.1% a year.
Related: UPGD chart, UPGD holdings, UPGD dividends, UPGD valuation. See the UPGD overview for the latest quote and fund facts.
UPGD performance FAQ
What is the UPGD return over the past year?
UPGD returned +13.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 11.8%.
What is the average annual return of UPGD?
UPGD has returned +6.9% a year over 5 years, +9.7% a year over 10 years, +8.0% a year since May 19, 2006 (total return, distributions reinvested).
How much would $10,000 invested in UPGD be worth?
$10,000 invested in UPGD at its first recorded close on May 19, 2006 would be worth about $48,034 on October 23, 2026 with distributions reinvested.
What was the worst year for UPGD?
The worst calendar year was 2008, with a total return of −38.8%. The best was 2009 at +56.3%.
What is the biggest drawdown of UPGD?
The largest peak-to-trough decline was −60.7% between May 23, 2006 and November 20, 2008. It recovered to the old high on December 3, 2010, 2.0 years after the bottom.
How volatile is UPGD?
Over the past 3 years UPGD had an annualized volatility of 14.3% and a Sharpe ratio of 0.71 (excess return over 1–3 month T-bills per unit of risk).