UCC +2x ProShares Ultra Consumer Discretionary

UCC

ETF +2x BULL standard
ProShares Ultra Consumer Discretionary
Issuer: ProShares · Tracks: Consumer Discretionary (XLY) · Listed: 2007-01-30
Implied AUM
$10.3M
Last Close
$45.63
20260720
30d Avg Vol
2,677
Options
available
Realized return vs theoretical +2x Consumer Discretionary
Pair counterpart found: SCC (-2x bear, ProShares UltraShort Consumer Discretionary)
Shorting both legs of a daily-reset bull/bear pair captures combined decay drift over time. Theoretical "free money" — actual edge depends on borrow rates (often punitive on the bear leg) and assignment risk on hard-to-borrow products.
Other leveraged products tracking Consumer Discretionary
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
WANT +3x BULL Direxion Direxion Daily Consumer Discretionary Bull 3X ETF $15.9M 24,615
SCC -2x BEAR ProShares ProShares UltraShort Consumer Discretionary $7.1M 14,988

How UCC works

UCC targets +2x the daily return of Consumer Discretionary — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on UCC carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.