- Last Ratings Update:10/31/2014
- Price as of 10/31/2014 :$37.94
- Net Assets:$135.5 Million
- Peer Rank:40 of 40
- Investment Rating:E-
We rate ProShares Ultra Gold at E-. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Negative factors that influence this rating include a short term portfolio management tenure. The fund may be considered for investors seeking a Sector - Precious Metals strategy.
POSITIVES AND RISKS
Total return ranks well below peers over the last three years. The ProShares Ultra Gold has returned an annual rate of 7.55% since inception. More recently, the fund has generated a total return of -2.54% in the last five years, -26.78% in the last three years, and -19.49% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 10% of them. It has also outpaced 4% of its competitors on a three year basis and 5% of them over the last year for the period ending 10/31/2014. On a year to date basis, UGL has returned -3.59%.
Downside risk has been above average. UGL has a draw down risk of -62.03%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 36.7%. This fund has experienced excessive volatility in its monthly performance over the last 36 months. As of 10/31/2014, the fund was trading at a price of $37.94, which is 12.9% below its 52-week high of $43.54 and 1.7% above its 52-week low of $37.32.
High expense ratio hinders performance. On total assets of $135.50 million, UGL maintains a high expense ratio compared to its Sector - Precious Metals peers of 0.95% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As UGL is an exchange traded fund, it has no front end or back end load.
The ProShares Ultra Gold is managed by Michael Neches at ProShare Advisors LLC. This fund is one of 146 ProShare Advisors LLC exchange-traded funds launched since 6/19/2006 that we track.
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