UGLProShares Ultra Gold
The ProShares Ultra Gold Fund seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Gold Subindex.
By ProShares · Launched 2008
1.19%
#5,230 of 5,562 · expensive
$854M
#1,204 of 5,562 · large
+34.5%
17 years
#641 of 5,562 · established
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 1 holdings = 18.8% of fund✓ well diversified
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Where to buy
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- The ProShares Ultra Gold Fund seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Gold Subindex.
- Strategy
- To achieve its investment objective, the Ultra Gold Fund intends to invest in financial instruments such as futures contracts, swap agreements, and other derivatives that provide exposure to its benchmark, while not investing directly in commodities or currencies.
- Inception date
- December 1, 2008
- Fund family
- ProShares
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Leveraged ETF — not a long-term hold
This fund uses leverage to amplify daily returns (e.g. 2x or 3x of an index). Daily rebalancing creates volatility decay — over weeks and months, the fund's return drifts from the stated multiple. In trending markets with low realised volatility, leveraged index ETFs can outperform their nominal multiple; in sideways or volatile markets they bleed. Designed for short-term tactical use, not buy-and-hold.
Source: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)
Why we flagged this: strategy=leveraged + leveraged_name_or_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-06-19