ProShares Ultra Russell2000 (UWM) Performance
UWM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +18.6% since Dec 31, 2025
- 1 year
- +17.2% total return
- 5 years
- −0.3% a year
- 10 years
- +10.0% a year
- Since first price
- +6.4% a year since 2007
UWM trailing returns vs SPY, QQQ, AGG
| Period | UWM total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −5.0% | −5.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −12.0% | −12.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −3.0% | −3.3% | +7.8% | +8.4% | −1.5% |
| YTD | +18.6% | +18.0% | +12.3% | +15.1% | −1.0% |
| 1 year | +17.2% | +16.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +118.1%+29.7%/yr | +111.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −1.5%−0.3%/yr | −5.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +159.8%+10.0%/yr | +147.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +613.5%+14.0%/yr | +574.0% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionJan 25, 2007 | +242.1%+6.4%/yr | +212.8% | — | — | — |
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: UWM vs SPY
From Jan 25, 2007: UWM grew to $34,207, SPY to $76,577.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
UWM returns by calendar year
13 of 18 full years positive. Best 2013 (+87.0%), worst 2008 (−66.9%). 2026 is year to date.
UWM annual returns table
| Year | UWM | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +18.6% | −22.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +13.6% | −43.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +11.3% | −19.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +22.6% | −36.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −43.7% | −49.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +23.9% | −23.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +16.6% | −68.8% | +18.3% | +48.6% | +7.5% |
| 2019 | +48.6% | −20.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −25.9% | −47.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +26.9% | −12.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +41.5% | −26.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −12.3% | −30.4% | +1.2% | +9.4% | +0.5% |
| 2014 | +6.4% | −24.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +87.0% | −9.9% | +32.3% | +36.6% | −2.0% |
| 2012 | +30.6% | −24.5% | +16.0% | +18.1% | +3.8% |
| 2011 | −18.3% | −52.7% | +1.9% | +3.4% | +7.7% |
| 2010 | +50.6% | −38.1% | +15.1% | +19.9% | +6.4% |
| 2009 | +42.9% | −57.0% | +26.4% | +54.7% | +3.0% |
| 2008 | −66.9% | −78.4% | −36.8% | −41.7% | +7.9% |
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.
UWM largest drawdowns
Now 19.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 4, 2007 | −88.2% | Mar 9, 2009 | Oct 24, 2013 | 1.8 years | 6.4 years |
| Aug 31, 2018 | −71.5% | Mar 23, 2020 | Dec 15, 2020 | 1.6 years | 2.3 years |
| Nov 8, 2021 | −61.6% | Oct 27, 2023 | Jun 15, 2026 | 2.0 years | 4.6 years |
| Jun 23, 2015 | −46.6% | Feb 11, 2016 | Nov 18, 2016 | 8 months | 1.4 years |
| Mar 4, 2014 | −24.6% | Oct 13, 2014 | Dec 26, 2014 | 7 months | 10 months |
| Aug 14, 2026 | −22.1% | Oct 16, 2026 | not yet | 2 months | 2 months so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
UWM risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +24.6% | +1.7% | +9.7% | +6.5% |
| Volatility (annualized) | 39.7% | 42.0% | 42.2% | 41.1% |
| Sharpe ratio | 0.64 | 0.16 | 0.38 | 0.33 |
| Sortino ratio | 1.12 | 0.24 | 0.58 | 0.48 |
| Best month | +24.9% | +24.9% | +38.9% | +38.9% |
| Worst month | −17.0% | −19.3% | −45.2% | −45.2% |
| Best 12 months | +90.0% | +90.0% | +240.4% | +240.4% |
| Worst 12 months | −17.1% | −46.8% | −50.9% | −74.5% |
| Positive months | 61% | 53% | 62% | 61% |
| Beta vs S&P 500 | 2.56 | 2.25 | 2.35 | — |
| Correlation with S&P 500 | 0.80 | 0.84 | 0.85 | — |
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.
UWM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 226 | −74.5% | +12.2% | +240.4% | 61% |
| 3-year (a year) | 202 | −29.2% | +12.2% | +51.1% | 75% |
| 5-year (a year) | 178 | −13.9% | +9.7% | +48.7% | 83% |
| 10-year (a year) | 118 | +3.4% | +11.3% | +28.0% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
UWM performance overview
ProShares Ultra Russell2000 (UWM) returned +17.2% over the past year and +10.0% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +6.4% a year, turning $10,000 into about $34,207. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −88.2%, from Jun 4, 2007 to Mar 9, 2009, and it took 4.6 years to get back to the old high. UWM finished 13 of its 18 full calendar years with a gain; the best year was 2013 (+87.0%) and the worst 2008 (−66.9%). Volatility has been 41.1% a year.
Related: UWM chart, UWM holdings, UWM dividends. See the UWM overview for the latest quote and fund facts.
UWM performance FAQ
What is the UWM return over the past year?
UWM returned +17.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 16.2%.
What is the average annual return of UWM?
UWM has returned −0.3% a year over 5 years, +10.0% a year over 10 years, +6.4% a year since January 25, 2007 (total return, distributions reinvested).
How much would $10,000 invested in UWM be worth?
$10,000 invested in UWM at its first recorded close on January 25, 2007 would be worth about $34,207 on October 23, 2026 with distributions reinvested.
What was the worst year for UWM?
The worst calendar year was 2008, with a total return of −66.9%. The best was 2013 at +87.0%.
What is the biggest drawdown of UWM?
The largest peak-to-trough decline was −88.2% between June 4, 2007 and March 9, 2009. It recovered to the old high on October 24, 2013, 4.6 years after the bottom.
How volatile is UWM?
Over the past 3 years UWM had an annualized volatility of 39.7% and a Sharpe ratio of 0.64 (excess return over 1–3 month T-bills per unit of risk).