UltraPro MidCap400 (UMDD) holdings & weights
Per-holding contribution · concentration · sector skew — a deep read
Fund overview
This is a US-listed ETF from ProShares. It tracks the S&P Mid Cap 400. Key facts — expense ratio 0.95%; net assets about $27M; inception Feb 11, 2010. Its 1-year return is +27.55%.
Fund details
Fund overview
This is a US-listed ETF from ProShares. It tracks the S&P Mid Cap 400. Key facts — expense ratio 0.95%; net assets about $27M; inception Feb 11, 2010. Its 1-year return is +27.55%.
18 identified stocks · net exposure / NAV 7.68%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Cash and unallocated contracts are excluded from stock attribution.
Weight and calculation basis
18 identified stocks · net exposure / NAV 7.68%. Display weights are normalized to 100%; calculations retain original exposures without an additional leverage multiplier. Cash and unallocated contracts are excluded from stock attribution.
Today's summary
On a constituent basis, UltraPro MidCap400's theoretical return is -0.02%p. Today's biggest hero is ATI, contributing -0.02%p (return -3.28%). The biggest suspect dragging it down is ATI, at -0.02%p.
Its top 10 holdings make up about 60.2% of the fund. The concentration index (HHI) is 567 — Low — evenly diversified, and the largest sector is Industrials (27%). The higher the concentration, the more one stock or sector drives the whole ETF's return.
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Concentration is below 1,500 (567), so no single holding dominates.
The largest sector is Industrials at 27% — industries are reasonably spread.
0.95% a year is on the high side — about 9.5% over a decade, so it needs a reason to earn that.
Net assets of $27M are small. Thin funds trade at wider spreads, and very small ones get closed or merged.
A 3x leveraged fund. It resets exposure daily, so over more than a few days the result drifts from "index move × 3". Built for short holds.
Concentration and diversification
Structural health
A five-axis read on how this fund is built. It is not a return forecast or a recommendation, and a low score does not mean a bad fund — leveraged products score low by design. Each axis shows the figure behind it.
Concentration is below 1,500 (567), so no single holding dominates.
The largest sector is Industrials at 27% — industries are reasonably spread.
0.95% a year is on the high side — about 9.5% over a decade, so it needs a reason to earn that.
Net assets of $27M are small. Thin funds trade at wider spreads, and very small ones get closed or merged.
A 3x leveraged fund. It resets exposure daily, so over more than a few days the result drifts from "index move × 3". Built for short holds.
Top 18 holdings
6 derivative positions are excluded. Stock contributions do not explain the entire ETF return.
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
Normalized to 100% of analysed positions
Weights are normalized to 100% of absolute exposures across analysed positions, including positions outside this top list. Cash, collateral and unverified assets are excluded. Contributions retain original signed NAV exposures; leverage is not applied twice.
| # | Holding | Weight |
|---|---|---|
| 1 | OktaOKTA | 7.94% |
| 2 | TechnipFMCFTI | 6.90% |
| 3 | ATIATI | 6.38% |
| 4 | nVent ElectricNVT | 5.86% |
| 5 | United TherapeuticsUTHR | 5.73% |
| 6 | US FoodsUSFD | 5.60% |
| 7 | XPOXPO | 5.60% |
| 8 | Tenet HealthcareTHC | 5.47% |
| 9 | EntegrisENTG | 5.34% |
| 10 | RelianceRS | 5.34% |
| 11 | Permian ResourcesPR | 5.21% |
| 12 | RokuROKU | 5.21% |
| 13 | Royal GoldRGLD | 5.08% |
| 14 | TD SYNNEXSNX | 4.95% |
| 15 | HF SinclairDINO | 4.95% |
| 16 | WoodwardWWD | 4.95% |
| 17 | OvintivOVV | 4.81% |
| 18 | Carpenter TechnologyCRS | 4.68% |
Holdings below 0.5% or outside the top list are folded into “Others” and omitted above.
Where the weight sits — sector mix
Listed equity weights summed by sector and normalized to 100%. Each band is one sector's share.
Industry breakdown
HHI sums the squared weights. The more it leans on a few names, the higher it goes — and the more the whole ETF moves with them.
Leverage / inverse caveat
This fund tracks its index at 3x.
That 3x applies to a **single day**. Held longer, the daily reset makes the period return drift from 3x the index: if the index chops up and down and returns to where it started, this fund is still down. That is volatility decay.
It bites hardest in sideways markets and compounds with holding time. These are built for short directional trades.
How concentrated is it
Concentration (HHI) is low at 567, with the top 10 holdings at just 60.2% of equity weight. No single name can dominate the fund.
Good for damping single-stock risk — and equally, a big winner inside gets diluted.
HHI squares each weight and sums them: 10,000 means one stock is everything, and the more evenly spread the holdings, the closer it falls to zero.
Where the sector weight sits
Sectors run Industrials(27%) · Energy(20%) · Information Technology(18%), and even the largest is only 27% — no meaningful industry tilt.
This is built to track a market rather than to call a sector.
Weights above sum the individually listed equities and normalize that equity total to 100%.
How much it overlaps others
It shares 58% of its holdings with MZZ (4 names in common) — close to half the same companies.
Own both and the diversification is thinner than it looks.
What it is made of
The fund holds 408 positions in total; this page lists the largest 18 and folds the rest into "Others".
Equities are 7.7% of the fund, the rest swaps and cash — index exposure built synthetically rather than by owning the shares, which adds counterparty risk.
The expense ratio is 0.95% a year, which is not cheap. Fees come out of returns every year you hold, so it is worth checking whether the same index is available for less.
This page is not investment advice. Investment decisions and responsibility are your own.
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