ProShares Ultra Gold (UGL)
ARCA ARCA Primary Summary
UGL Chart
UGL: A $4,200 Gold Breakout Play
ProShares Ultra Gold ETF is initiated with a 'buy' rating, targeting traders seeking leveraged exposure to gold's ongoing breakout. UGL offers 2x daily gold returns, outperforming miners and spot ETFs during bullish trends, but is best suited for short-term strategies. Mining stocks present alternative 'leveraged' gold exposure, but UGL avoids risks like equity dilution, management, and jurisdiction issues.
UGL: Why $3,500 Is Key For The Gold Trade
Gold has outperformed major asset classes, but momentum is slowing and other metals are currently leading in 2025. I rate ProShares Ultra Gold ETF (UGL) a hold, citing risks of leveraged ETFs and gold's technical resistance at $3,500. Periods of high volatility and seasonality make UGL less attractive now; a breakout above $3,500 would improve the outlook.
UGL: A Steady Decay History, And Leveraged ETF Dashboard
Leveraged ETFs have a non-linear behavior, and their price may drift relative to the underlying. This article reports drift data for 22 of them. ProShares Ultra Gold ETF shows significant decay in the long term due to beta-slippage and contango.
ProShares Ultra Gold (UGL) FAQ
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ProShares Ultra Gold Profile
| ARCA Exchange | US Country |
Overview
The fund aims to achieve its investment goal by primarily engaging in various Financial Instruments including swap agreements, futures contracts, forward contracts, and option contracts, based on its benchmark index. It operates under normal market conditions and adjusts its investment strategies according to the discretion of the Sponsor. The fund is not designed to invest directly in commodities, instead, it focuses on derivatives and financial instruments that mirror the performance of its benchmark.
Products and Services
- Swap Agreements: These are contracts through which two parties exchange financial instruments or cash flows for a set period. This tool allows the fund to gain exposure to the underlying asset without owning it directly.
- Futures Contracts: A futures contract is a legal agreement to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future. This helps the fund in hedging against price movements or to speculate on future price directions.
- Forward Contracts: Similar to futures contracts, forward contracts are agreements to buy or sell an asset at a future date for a price agreed upon today. Unlike futures, forwards are traded over-the-counter and can be customized to fit the needs of the fund, adding flexibility to its investment strategy.
- Option Contracts: Options give the fund the right, but not the obligation, to buy (call options) or sell (put options) a security or other financial asset at an agreed-upon price during a certain period or on a specific date. This can be used for hedging purposes or to speculate on the price movement of the underlying asset.
Contact Information
