UPRO ETF — ProShares UltraPro S&P500

ProShares UltraPro S&P500 (UPRO)

UPRO is an ETF that tracks the S&P 500. As of August 19, 2026, its distribution rate is 0.79%, its trailing-12-month yield is 0.71%, its expense ratio is 0.89%. Dividend Vision Distribution Safety Score™ is 82/100 (Safe). Fund total return is 13280.8% over the past 17.1 years, 12252.6 points ahead of SPY at 1028.2%.

At the current 0.79% distribution rate, a $10,000 investment would generate approximately $79 per year, or $6.58 per month on an equivalent basis. Actual quarterly payments vary.

ProShares UltraPro S&P 500 is an ETF that seeks to deliver three times the daily performance of the S&P 500 Index through leveraged exposure to large-cap U.S. equities and related financial instruments. The fund has a modest current distribution rate, distributes quarterly, and carries an expense ratio of 0.89%. This fund appeals to active traders and sophisticated investors seeking amplified short-term equity exposure, rather than buy-and-hold income investors, given its daily rebalancing mechanics and leverage structure.

UPRO performance versus SPY

Data as of August 19, 2026.

Fund total return is 13280.8% over the past 17.1 years, 12252.6 points ahead of SPY at 1028.2%. Its deepest 1-year drawdown was 26.8%.

UPRO key facts

Data as of August 19, 2026.

Distribution Safety Score™

82 · Safe

Safety-Adjusted Yield

0.65%

Issuer

ProShares

Asset type

ETF

Asset class

Equity

Inception date

06/23/2009

Expense ratio

0.89%

Distribution rate

0.79%

Distribution frequency

Quarterly

Trailing yield

0.71%

Last close

$151.19

AUM

$5,782,641,346

Average volume

1841606.0

Last dividend

$0.2987

Ex-dividend date

06/24/2026

Payment date

06/30/2026

Beta

3.11

P/E ratio

27.1138

How Dividend Vision calculates yield and returns

Distribution rate (0.79%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (0.71%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: ProShares; Index: S&P 500; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

UPRO risks and drawbacks

UPRO's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. The deepest 1-year drawdown on record here is 26.8%.

Who may consider UPRO — and who may not

UPRO may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (UPRO pays quarterly); investors hunting double-digit covered-call yields. This is educational context, not a recommendation to buy or sell.

Compare UPRO

UPRO vs similar funds:

• UPRO vs TQQQ
• UPRO vs SPXL

Frequently asked questions

More funds from ProShares.