UPRO

UPRO reports 524 positions, but the weights make it behave like about 14.3 equally weighted ones. Computed by this site from the fund's SEC Form N-PORT filing — see what this measure does not tell you and the full table.

The same filing says what kind of price those positions carry: 70.81% of UPRO is held at a quoted market price, across 8 issuer countries . Comparisons across every fund are in the valuation table, and what a low share does and does not mean is worth reading before drawing a conclusion from it.

Between 2019-11-30 and 2026-02-28, UPRO went from behaving like 75.7 equally weighted positions to 15.8 — 79% fewer, while its top ten went from 27.6% to 51.28% of net assets. Read across the funds on the concentration-over-time table.

One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.

• 006 Expense ratio
• 006 Maximum drawdown
• 006 Variance drag
• 004 Total return
• 003 Duration
• 003 Standard deviation
• 003 Beta
• 003 Rebalancing bands

• The Honest Math of Daily-Reset Leverage: What QLD, SSO, and TQQQ Actually Cost in a 4% Rate Regime

  A 2x daily-reset ETF such as QLD does not deliver 2x the annual return of the Nasdaq-100. It delivers roughly 2x of each daily return, compounded — a...

  04 Apr 2026 11 min ETF Analysis

• Why Capital Preservation Is the Secret to Winning with Leveraged Assets

  The case for capital preservation in a leveraged portfolio is not a temperament argument — it is an arithmetic one. Drawdown recovery is non-linear: a 50%...

  29 Mar 2026 9 min Long-Term Strategy

• What Rising Interest Rates Mean for Leveraged ETF Borrowing Costs

  Leveraged ETFs do not borrow on margin. They obtain exposure through total return swaps whose financing leg is reset daily at short-term rates (Fed Funds or...

  28 Mar 2026 12 min Macro & Markets

• Leveraged ETFs vs Index ETFs: What Daily Reset Actually Costs a Long-Term Holder

  Leveraged ETFs are engineered to deliver a multiple of the index's daily return, then reset every evening. Their multi-year payoff is path-dependent, not...

  27 Mar 2026 10 min ETF Analysis

• Can Leveraged ETFs Be Part of a Long-Term Portfolio? Risk Mitigation Strategies

  Daily-reset leveraged ETFs are not buy-and-hold instruments. Holding-period return depends on the realized path of the underlying, not just its start and...

  26 Mar 2026 11 min Long-Term Strategy

• The Honest Math of Leveraged ETFs - Path Dependency, Volatility Decay, and the Behavioral Gap

  Over the last five years, TQQQ delivered a 27.0% CAGR while QQQM delivered 17.6% — a ratio of 1.53x, not the 3x the leverage label implies. Realized...

  26 Mar 2026 10 min Long-Term Strategy

• The Honest Math of Leveraged ETFs: A 5-Year Data Read on TQQQ, SSO, and UPRO

  Over the trailing five years, TQQQ delivered roughly 1.5x the realized CAGR of QQQM — not 3x — while taking on roughly 3x the drawdown and 3x the...

  22 Mar 2026 9 min Investment Framework