BIB vs. BBH

Last updated Aug 2, 2026

BIB (ProShares Ultra Nasdaq Biotechnology) and BBH (VanEck Biotech ETF) are both exchange-traded funds - BIB is a Leveraged Equities fund tracking the NASDAQ Biotechnology Index (200%), while BBH is a Health & Biotech Equities fund tracking the MVIS US Listed Biotech 25 Index. Both are passively managed. Over the past 10 years, BIB returned 6.95%/yr vs 6.22%/yr for BBH. Their correlation of 0.92 means they have usually moved in the same direction. BIB charges 0.95%/yr vs 0.35%/yr for BBH.

Performance

BIB vs. BBH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Biotechnology (BIB) and VanEck Biotech ETF (BBH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIB achieves a 21.11% return, which is significantly higher than BBH's 8.60% return. Over the past 10 years, BIB has outperformed BBH with an annualized return of 6.95%, while BBH has yielded a comparatively lower 6.22% annualized return.

BIB

• 1D: -3.70%
• 1M: -9.58%
• 6M: 16.23%
• YTD: 21.11%
• 1Y: 90.29%
• 3Y*: 23.98%
• 5Y*: 0.36%
• 10Y*: 6.95%
• ALL TIME*: 17.28%

BBH

• 1D: -1.18%
• 1M: -2.74%
• 6M: 4.53%
• YTD: 8.60%
• 1Y: 27.08%
• 3Y*: 9.52%
• 5Y*: 0.34%
• 10Y*: 6.22%
• ALL TIME*: 10.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBH VanEck Biotech ETF	$1.21M	$1.12M	$971.78K
BIB ProShares Ultra Nasdaq Biotechnology	$704.96K	$1.10M	$967.78K

BIB vs. BBH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIB ProShares Ultra Nasdaq Biotechnology	21.11%	59.21%	-9.84%	-1.06%	-28.85%	-6.02%	39.79%	46.71%	-24.93%	40.49%
BBH VanEck Biotech ETF	8.60%	21.18%	-4.29%	3.94%	-15.25%	11.81%	22.13%	26.34%	-10.70%	16.46%

Correlation

The correlation between BIB and BBH is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010	0.92

The correlation between BIB and BBH has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

BIB vs. BBH - Sectors Allocation Comparison

Sectors	BIB	BBH
Healthcare	57.0%	100.0%
Financial Services	6.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BIB vs. BBH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BIB

BIB Risk / Return Rank: 89
BIB Sharpe Ratio Rank: 91
BIB Sortino Ratio Rank: 86
BIB Omega Ratio Rank: 80
BIB Calmar Ratio Rank: 95
BIB Martin Ratio Rank: 91

BBH

BBH Risk / Return Rank: 62
BBH Sharpe Ratio Rank: 61
BBH Sortino Ratio Rank: 64
BBH Omega Ratio Rank: 56
BBH Calmar Ratio Rank: 76
BBH Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BIB vs. BBH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Biotechnology (BIB) and VanEck Biotech ETF (BBH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BIB	BBH	Difference
Sharpe ratio: Return per unit of total volatility	2.29	1.42	+0.87
Sortino ratio: Return per unit of downside risk	2.87	2.11	+0.75
Omega ratio: Gain probability vs. loss probability	1.34	1.25	+0.09
Calmar ratio: Return relative to maximum drawdown	5.48	2.62	+2.87
Martin ratio: Return relative to average drawdown	15.43	6.19	+9.24

BIB vs. BBH - Sharpe Ratio Comparison

The current BIB Sharpe Ratio is 2.29, which is higher than the BBH Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of BIB and BBH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BIB vs. BBH - Drawdown Comparison

The maximum BIB drawdown since its inception was -67.24%, smaller than the maximum BBH drawdown of -72.70%. Use the drawdown chart below to compare losses from any high point for BIB and BBH.

Drawdown Indicators

	BIB	BBH	Difference
Max Drawdown Largest peak-to-trough decline	-67.24%	-72.70%	+5.46%
Max Drawdown (1Y) Largest decline over 1 year	-16.92%	-10.55%	-6.37%
Max Drawdown (3Y) Largest decline over 3 years	-45.30%	-22.74%	-22.56%
Max Drawdown (5Y) Largest decline over 5 years	-65.86%	-39.86%	-26.00%
Max Drawdown (10Y) Largest decline over 10 years	-66.20%	-39.86%	-26.34%
Current Drawdown Current decline from peak	-12.04%	-4.63%	-7.41%
Average Drawdown Average peak-to-trough decline	-32.55%	-20.67%	-11.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.00%	4.45%	+1.55%

Volatility

BIB vs. BBH - Volatility Comparison

ProShares Ultra Nasdaq Biotechnology (BIB) has a higher volatility of 12.15% compared to VanEck Biotech ETF (BBH) at 6.31%. This indicates that BIB's price experiences larger fluctuations and is considered to be riskier than BBH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIB	BBH	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.15%	6.31%	+5.84%
Volatility (6M) Calculated over the trailing 6-month period	31.41%	14.80%	+16.61%
Volatility (1Y) Calculated over the trailing 1-year period	40.57%	19.48%	+21.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.72%	21.54%	+22.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.29%	22.09%	+24.20%

BIB vs. BBH - Expense Ratio Comparison

BIB has a 0.95% expense ratio, which is higher than BBH's 0.35% expense ratio.

Dividends

BIB vs. BBH - Dividend Comparison

BIB's dividend yield for the trailing twelve months is around 0.33%, less than BBH's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBH VanEck Biotech ETF	0.47%	0.51%	0.80%	0.43%	0.47%	0.21%	0.36%	0.34%	0.50%	0.55%	0.30%	0.27%
BIB ProShares Ultra Nasdaq Biotechnology	0.33%	0.77%	1.69%	0.07%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BIB and BBH in my portfolio?

With a correlation of 0.91, BIB and BBH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BIB or BBH?

BIB has higher volatility (12.15%) compared to BBH (6.31%). In terms of maximum drawdown, BIB dropped -67.24% vs BBH's -72.70%.

Which ETF is better, BIB or BBH?

On 10-year performance, BIB leads with 6.95% vs 6.22% for BBH. On fees, BBH is cheaper at 0.35% per year. On volatility, BBH has been the lower-risk option at 6.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIB or BBH?

Over the 10-year period, BIB has performed better with a 6.95% return vs 6.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIB or BBH?

BBH is cheaper with a 0.35% expense ratio, compared with 0.95% for BIB.

Which ETF pays a higher dividend yield, BIB or BBH?

BBH has the higher dividend yield at 0.47%, compared with 0.33% for BIB.

What is the main difference between BIB and BBH?

BIB is categorized as Leveraged Equities, while BBH is Health & Biotech Equities. BIB tracks NASDAQ Biotechnology Index (200%), while BBH tracks MVIS US Listed Biotech 25 Index. They also come from different issuers: ProShares and VanEck. Their fees differ too: 0.95% for BIB and 0.35% for BBH.

Which has better risk-adjusted returns?

BIB currently has the higher Sharpe Ratio (2.29 vs 1.42), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.