ETF Evaluator:
ProShares Ultra Nasdaq Cybersecurity (UCYB)
Follow This ETF
(as of Sep 03)
Best Performing in Trading--Leveraged Equity Over the Last Year
| 2567.1% | Direxion Daily MU Bull 2X Shares (MUU) |
| 2419.7% | GraniteShares 2x Long MU Daily ETF (MULL) |
| 933.4% | GraniteShares 2x Long INTC Daily ETF (INTW) |
| 476.7% | GraniteShares 2x Long DELL Daily ETF (DLLL) |
| 358.1% | Direxion Daily Semicondct Bull 3X ETF (SOXL) |
Risk
Index
Risk
Index
ETF Details
ProShares Ultra Nasdaq Cybersecurity Overview
ProShares Ultra Nasdaq Cybersecurity (UCYB) is a passively managed Miscellaneous Trading--Leveraged Equity exchange-traded fund (ETF). ProShares launched the ETF in 2021.
The investment seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Nasdaq CTA Cybersecurity IndexSM.
The index is designed to track the performance of companies engaged in the cybersecurity segment of the technology and industrial sectors. The fund will obtain leveraged exposure to at least 80% of its total assets in component securities of the index or in instruments with similar economic characteristics. The fund is non-diversified.
About ProShares Ultra Nasdaq Cybersecurity (UCYB)
There are 2 members of the management team with an average tenure of 5.53 years: Michael Neches (2021) and Tarak Davé (2021). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: NASDAQ Composite TR USD index with a weighting of 100% and Nasdaq CTA Cybersecurity USD index with a weighting of 200%. ProShares Ultra Nasdaq Cybersecurity has 7 securities in its portfolio. The top 10 holdings constitute 45.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares Ultra Nasdaq Cybersecurity is part of the Other global asset class and is within the Miscellaneous ETF group. ProShares Ultra Nasdaq Cybersecurity has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 26.8% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProShares Ultra Nasdaq Cybersecurity has 36.2% of the portfolio in cash.
Assets Under Management
The fund has $7 million in total assets, which is below the $251 million average for the Trading--Leveraged Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
UCYB Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares Ultra Nasdaq Cybersecurity expense ratio is high compared to funds in the Trading--Leveraged Equity category. ProShares Ultra Nasdaq Cybersecurity has an expense ratio of 0.95%, which is the same as its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares Ultra Nasdaq Cybersecurity has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 396% for the Trading--Leveraged Equity category.
Recently, in the month of July 2026, ProShares Ultra Nasdaq Cybersecurity returned 3.3%, which earned it a grade of B, as the Trading--Leveraged Equity category had an average return of -18.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares Ultra Nasdaq Cybersecurity has a trailing yield of 1.53%, which is below the 5.84% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ProShares Ultra Nasdaq Cybersecurity Grades
Year to date, the ETF has returned 51.3%, 47.5 percentage points better than the category, which translates into a grade of A. The fund has returned 40.8% over the past year (grade of B), 38.1% over the past three years (grade of A) and 13.1% per year over the past five years (grade of B).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about ProShares Ultra Nasdaq Cybersecurity, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
UCYB Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| UCYB Return (NAV) | 3.3% | 77.8% | 40.8% | 38.1% | 13.1% | na |
| UCYB Return (Price) | 3.8% | 78.7% | 41.5% | 38.3% | 13.3% | na |
| NAV +/- Price Return | -0.534% | -0.949% | -0.707% | -0.182% | -0.178% | na |
| Trading--Leveraged Equity Avg | -18.2% | -10.8% | 47.2% | 18.3% | 6.2% | 9.2% |
| UCYB Grade (NAV) | B | A | B | A | B | na |
| +/- Category (NAV) | 21.5% | 88.6% | -6.4% | 19.8% | 6.9% | na |
| UCYB Tax-Cost Ratio | na | na | 0.9% | 0.8% | 0.5% | na |
UCYB Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| UCYB Return (NAV) | 51.3% | 12.1% | 24.3% | 70.1% | -54.8% | na | na | na | na | na | na |
| UCYB Return (Price) | 52.3% | 9.4% | 28.9% | 68.9% | -55.1% | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.019% | -0.227% | 0.186% | -0.017% | 0.006% | na | na | na | na | na | na |
| Trading--Leveraged Equity Avg | 3.8% | 41.3% | 29.5% | 62.2% | -36.7% | 45.0% | 6.2% | 64.1% | -31.9% | 61.0% | 29.3% |
| UCYB Grade (NAV) | A | D | C | B | D | na | na | na | na | na | na |
| +/- Category | 47.5% | -29.2% | -5.2% | 7.9% | -18.1% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 2.19 |
| R-Squared: | 31% |
| Standard Deviation: | 51.3% |
| Category Risk Index: | 0.97 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 4.18 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 1.5% |
| Total Assets: | $ 7 Mil |
| Share Class Assets: | $ 7 Mil |
| Turnover: | na |
| Expense Ratio: | 0.95% |
| Index Fund: | Yes |
| Index Tracked: | NASDAQ Composite TR USD |
| Index Weighting: | 100% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 5.5 years | |||
| Average Tenure: 5.5 years | |||
| Managers (Year): Neches Michael (2021), Davé Tarak (2021) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 7 |
| % in Top 10 Holdings: | 45.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 26.8% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 37.1% |
| Cash: | 36.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 866-776-5125 |
| Website: | www.proshares.com |
| Inception Date: | January 19, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.95% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
