ProShares Ultra Utilities (UPW)
ProShares Ultra Utilities operates in the Asset Management industry of the Financial Services sector, headquartered in Bethesda, MD, US. The stock last traded at $22.00, up 0.53% on the session, giving a market capitalisation of $16.9M. Its beta of 0.80 implies it has historically moved less than the broad market.
UPW provides 2x leveraged exposure to the S&P Utilities Select Sector Index, a market cap-weighted index of US utilities companies drawn exclusively from the S&P 500. The index includes the following GICS industries: electric, gas, water, and multi-utilities, independent power, and renewable electricity producers. UPW is designed as a short-term trading vehicle, not a long-term investment. It holds swap agreements and resets on a daily basis. As a result, compounding and path dependency make long-term returns difficult to predict when compared with the performance of its underlying index. Prior to March 20, 2023, the fund tracked the Dow Jones US Utilities Index.
ProShares Ultra Utilities is most often compared with the following Financial Services names: