BIB vs. USD
BIB (ProShares Ultra Nasdaq Biotechnology) and USD (ProShares Ultra Semiconductors) are both Leveraged Equities funds from ProShares - BIB tracks the NASDAQ Biotechnology Index (200%) while USD tracks the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, BIB returned 9.71%/yr vs 61.02%/yr for USD. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
BIB vs. USD - Performance Comparison
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Returns By Period
In the year-to-date period, BIB achieves a 12.50% return, which is significantly lower than USD's 84.65% return. Over the past 10 years, BIB has underperformed USD with an annualized return of 9.71%, while USD has yielded a comparatively higher 61.02% annualized 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%
USD
- 1D
- -12.35%
- 1M
- 1.73%
- YTD
- 84.65%
- 6M
- 79.76%
- 1Y
- 206.76%
- 3Y*
- 114.28%
- 5Y*
- 63.13%
- 10Y*
- 61.02%
BIB vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIB ProShares Ultra Nasdaq Biotechnology | 12.50% | 59.21% | -9.84% | -1.06% | -28.85% | -6.02% | 39.79% | 46.71% | -24.93% | 40.49% |
USD ProShares Ultra Semiconductors | 84.65% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between BIB and USD is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010 | 0.49 |
Over the past year, the correlation between BIB and USD has dropped to 0.24 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
BIB vs. USD - Sectors Allocation Comparison
Sectors
BIB
USD
Healthcare
-
Financial Services
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
Industrials
-
-
Real Estate
-
-
Technology
-
Utilities
-
-
Healthcare
BIB
USD
-
Financial Services
BIB
USD
Basic Materials
BIB
-
USD
-
Communication Services
BIB
-
USD
-
Consumer Cyclical
BIB
-
USD
-
Consumer Defensive
BIB
-
USD
-
Energy
BIB
-
USD
Industrials
BIB
-
USD
-
Real Estate
BIB
-
USD
-
Technology
BIB
-
USD
Utilities
BIB
-
USD
-
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Return for Risk
BIB vs. USD — Risk / Return Rank
BIB
USD
BIB vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Biotechnology (BIB) and ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.40 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 5.99 | 6.54 | -0.55 |
| Martin ratioReturn relative to average drawdown | 18.30 | 18.16 | +0.14 |
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Drawdowns
BIB vs. USD - Drawdown Comparison
The maximum BIB drawdown since its inception was -67.24%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for BIB and USD.
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Drawdown Indicators
| BIB | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.24% | -88.63% | +21.39% |
Max Drawdown (1Y)Largest decline over 1 year | -16.92% | -31.80% | +14.88% |
Max Drawdown (3Y)Largest decline over 3 years | -45.30% | -64.46% | +19.16% |
Max Drawdown (5Y)Largest decline over 5 years | -65.86% | -77.85% | +11.99% |
Max Drawdown (10Y)Largest decline over 10 years | -66.20% | -77.85% | +11.65% |
Current DrawdownCurrent decline from peak | -17.29% | -14.69% | -2.60% |
Average DrawdownAverage peak-to-trough decline | -32.71% | -32.29% | -0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.53% | 11.44% | -5.91% |
Volatility
BIB vs. USD - Volatility Comparison
The current volatility for ProShares Ultra Nasdaq Biotechnology (BIB) is 13.56%, while ProShares Ultra Semiconductors (USD) has a volatility of 34.07%. This indicates that BIB experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIB | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.56% | 34.07% | -20.51% |
Volatility (6M)Calculated over the trailing 6-month period | 31.65% | 54.13% | -22.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.43% | 67.96% | -27.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.60% | 77.73% | -34.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.39% | 69.83% | -23.44% |
BIB vs. USD - Expense Ratio Comparison
Both BIB and USD have an expense ratio of 0.95%.
Dividends
BIB vs. USD - Dividend Comparison
BIB's dividend yield for the trailing twelve months is around 0.55%, more than USD's 0.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIB ProShares Ultra Nasdaq Biotechnology | 0.55% | 0.77% | 1.69% | 0.07% | 0.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.25% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
BIB and USD have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (34.07%) compared to BIB (13.56%). In terms of maximum drawdown, BIB dropped -67.24% vs USD's -88.63%.
On 10-year performance, USD leads with 61.02% vs 9.71% for BIB. Both ETFs have the same 0.95% expense ratio. On volatility, BIB has been the lower-risk option at 13.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USD has performed better with a 61.02% return vs 9.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIB and USD have the same expense ratio: 0.95% per year.
BIB has the higher dividend yield at 0.55%, compared with 0.25% for USD.
BIB tracks NASDAQ Biotechnology Index (200%), while USD tracks Dow Jones U.S. Semiconductors Index (200%).
USD currently has the higher Sharpe Ratio (3.06 vs 2.51), 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.
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