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%
#5,476 of 5,854 · expensive
$639M
#1,424 of 5,854 · large
+31.6%
17 years
#628 of 5,854 · established
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
synthetic exposure — holdings shown are derivatives collateral, not the fund's positions
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
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 funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Your return drifts the longer you hold
Leverage amplifies the index's daily move, by 2x or 3x. The fund resets every day, so over weeks and months your real return drifts from that multiple. It can run ahead in a smooth climb and bleed in a choppy one. Hold one for months and you own a different bet than the label suggests.
Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)
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 2026-08-04