BIB vs. IBBQ

Last updated Jun 24, 2026

BIB (ProShares Ultra Nasdaq Biotechnology) and IBBQ (Invesco Nasdaq Biotechnology ETF) are both exchange-traded funds - BIB is a Leveraged Equities fund tracking the NASDAQ Biotechnology Index (200%), while IBBQ is a Health & Biotech Equities fund tracking the NASDAQ / Biotechnology. Both are passively managed. Over the past 5 years, BIB returned -0.74%/yr vs 4.77%/yr for IBBQ. With a 0.99 correlation, they move nearly in lockstep. BIB charges 0.95%/yr vs 0.00%/yr for IBBQ.

Performance

BIB vs. IBBQ - Performance Comparison

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

Returns By Period

In the year-to-date period, BIB achieves a 12.50% return, which is significantly higher than IBBQ's 8.67% return.

BIB

• 1D: 1.97%
• 1M: 9.49%
• YTD: 12.50%
• 6M: 8.62%
• 1Y: 100.86%
• 3Y*: 19.65%
• 5Y*: -0.74%
• 10Y*: 9.71%

IBBQ

• 1D: 0.93%
• 1M: 5.09%
• YTD: 8.67%
• 6M: 7.00%
• 1Y: 48.86%
• 3Y*: 15.18%
• 5Y*: 4.77%
• 10Y*: —

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

BIB vs. IBBQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BIB ProShares Ultra Nasdaq Biotechnology	12.50%	59.21%	-9.84%	-1.06%	-28.85%	-16.88%
IBBQ Invesco Nasdaq Biotechnology ETF	8.67%	33.32%	-0.63%	4.73%	-10.41%	-6.24%

Correlation

The correlation between BIB and IBBQ is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021	0.99

The correlation between BIB and IBBQ has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

BIB vs. IBBQ - Sectors Allocation Comparison

Sectors	BIB	IBBQ
Healthcare	62.9%	99.9%
Financial Services	6.8%	0.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BIB vs. IBBQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BIB

BIB Risk / Return Rank: 80
BIB Sharpe Ratio Rank: 83
BIB Sortino Ratio Rank: 73
BIB Omega Ratio Rank: 65
BIB Calmar Ratio Rank: 92
BIB Martin Ratio Rank: 88

IBBQ

IBBQ Risk / Return Rank: 83
IBBQ Sharpe Ratio Rank: 81
IBBQ Sortino Ratio Rank: 80
IBBQ Omega Ratio Rank: 71
IBBQ Calmar Ratio Rank: 92
IBBQ Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BIB vs. IBBQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Biotechnology (BIB) and Invesco Nasdaq Biotechnology ETF (IBBQ). 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	IBBQ	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.45	+0.06
Sortino ratio: Return per unit of downside risk	3.08	3.36	-0.28
Omega ratio: Gain probability vs. loss probability	1.36	1.40	-0.04
Calmar ratio: Return relative to maximum drawdown	5.99	5.89	+0.11
Martin ratio: Return relative to average drawdown	18.30	18.75	-0.45

BIB vs. IBBQ - Sharpe Ratio Comparison

The current BIB Sharpe Ratio is 2.51, which is comparable to the IBBQ Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of BIB and IBBQ, 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. IBBQ - Drawdown Comparison

The maximum BIB drawdown since its inception was -67.24%, which is greater than IBBQ's maximum drawdown of -37.94%. Use the drawdown chart below to compare losses from any high point for BIB and IBBQ.

Drawdown Indicators

	BIB	IBBQ	Difference
Max Drawdown Largest peak-to-trough decline	-67.24%	-37.94%	-29.30%
Max Drawdown (1Y) Largest decline over 1 year	-16.92%	-8.34%	-8.58%
Max Drawdown (3Y) Largest decline over 3 years	-45.30%	-23.66%	-21.64%
Max Drawdown (5Y) Largest decline over 5 years	-65.86%	-37.94%	-27.92%
Max Drawdown (10Y) Largest decline over 10 years	-66.20%	—	—
Current Drawdown Current decline from peak	-17.29%	0.00%	-17.29%
Average Drawdown Average peak-to-trough decline	-32.71%	-16.66%	-16.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	2.61%	+2.92%

Volatility

BIB vs. IBBQ - Volatility Comparison

ProShares Ultra Nasdaq Biotechnology (BIB) has a higher volatility of 13.56% compared to Invesco Nasdaq Biotechnology ETF (IBBQ) at 6.82%. This indicates that BIB's price experiences larger fluctuations and is considered to be riskier than IBBQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIB	IBBQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.56%	6.82%	+6.74%
Volatility (6M) Calculated over the trailing 6-month period	31.65%	15.72%	+15.93%
Volatility (1Y) Calculated over the trailing 1-year period	40.43%	20.03%	+20.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.60%	21.92%	+21.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.39%	21.87%	+24.52%

BIB vs. IBBQ - Expense Ratio Comparison

BIB has a 0.95% expense ratio, which is higher than IBBQ's 0.00% expense ratio.

Dividends

BIB vs. IBBQ - Dividend Comparison

BIB's dividend yield for the trailing twelve months is around 0.55%, less than IBBQ's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021
BIB ProShares Ultra Nasdaq Biotechnology	0.55%	0.77%	1.69%	0.07%	0.03%	0.00%
IBBQ Invesco Nasdaq Biotechnology ETF	0.83%	0.90%	1.14%	0.81%	0.76%	0.63%

Frequently Asked Questions

Can I hold both BIB and IBBQ in my portfolio?

With a correlation of 0.99, BIB and IBBQ 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 IBBQ?

BIB has higher volatility (13.56%) compared to IBBQ (6.82%). In terms of maximum drawdown, BIB dropped -67.24% vs IBBQ's -37.94%.

Which ETF is better, BIB or IBBQ?

On 5-year performance, IBBQ leads with 4.77% vs -0.74% for BIB. On fees, IBBQ is cheaper at 0.00% per year. On volatility, IBBQ has been the lower-risk option at 6.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIB or IBBQ?

Over the 5-year period, IBBQ has performed better with a 4.77% return vs -0.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIB or IBBQ?

IBBQ is cheaper with a 0.00% expense ratio, compared with 0.95% for BIB.

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

IBBQ has the higher dividend yield at 0.83%, compared with 0.55% for BIB.

What is the main difference between BIB and IBBQ?

BIB is categorized as Leveraged Equities, while IBBQ is Health & Biotech Equities. BIB tracks NASDAQ Biotechnology Index (200%), while IBBQ tracks NASDAQ / Biotechnology. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for BIB and 0.00% for IBBQ.

Which has better risk-adjusted returns?

BIB currently has the higher Sharpe Ratio (2.51 vs 2.45), 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.