BIB vs. UVXY
BIB (ProShares Ultra Nasdaq Biotechnology) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - BIB is a Leveraged Equities fund tracking the NASDAQ Biotechnology Index (200%), while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, BIB returned 6.70%/yr vs -71.03%/yr for UVXY. Their -0.54 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
BIB vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, BIB achieves a 20.44% return, which is significantly higher than UVXY's -36.18% return. Over the past 10 years, BIB has outperformed UVXY with an annualized return of 6.70%, while UVXY has yielded a comparatively lower -71.03% annualized return.
BIB
- 1D
- -0.55%
- 1M
- -10.07%
- 6M
- 13.09%
- YTD
- 20.44%
- 1Y
- 89.25%
- 3Y*
- 24.35%
- 5Y*
- -1.15%
- 10Y*
- 6.70%
- ALL TIME*
- 17.23%
UVXY
- 1D
- -1.46%
- 1M
- -7.54%
- 6M
- -33.79%
- YTD
- -36.18%
- 1Y
- -73.63%
- 3Y*
- -63.76%
- 5Y*
- -68.11%
- 10Y*
- -71.03%
- ALL TIME*
- -80.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $598.53K | $1.01M | $971.81K | |
| $186.30M | $190.88M | $236.21M |
BIB vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIB ProShares Ultra Nasdaq Biotechnology | 20.44% | 59.21% | -9.84% | -1.06% | -28.85% | -6.02% | 39.79% | 46.71% | -24.93% | 40.49% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -36.18% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between BIB and UVXY is -0.38, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.38 |
Correlation (3Y) Balances recent behavior with more history. | -0.44 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.50 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.52 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | -0.54 |
The correlation between BIB and UVXY shifts across timeframes, from -0.54 (all time) to -0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BIB vs. UVXY — Risk / Return Rank
BIB
UVXY
BIB vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Biotechnology (BIB) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.07 | ||
| Sortino ratioReturn per unit of downside risk | +4.39 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.82 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 5.30 | -1.03 | +6.34 |
| Martin ratioReturn relative to average drawdown | 14.80 | -1.54 | +16.34 |
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Drawdowns
BIB vs. UVXY - Drawdown Comparison
The maximum BIB drawdown since its inception was -67.24%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BIB and UVXY.
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Drawdown Indicators
| BIB | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.24% | -100.00% | +32.76% |
Max Drawdown (1Y)Largest decline over 1 year | -16.92% | -71.36% | +54.44% |
Max Drawdown (3Y)Largest decline over 3 years | -45.30% | -95.42% | +50.12% |
Max Drawdown (5Y)Largest decline over 5 years | -65.86% | -99.68% | +33.82% |
Max Drawdown (10Y)Largest decline over 10 years | -66.20% | -100.00% | +33.80% |
Current DrawdownCurrent decline from peak | -12.53% | -100.00% | +87.47% |
Average DrawdownAverage peak-to-trough decline | -32.54% | -98.76% | +66.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.05% | 51.81% | -45.76% |
Volatility
BIB vs. UVXY - Volatility Comparison
The current volatility for ProShares Ultra Nasdaq Biotechnology (BIB) is 10.35%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 22.30%. This indicates that BIB experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIB | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.35% | 22.30% | -11.95% |
Volatility (6M)Calculated over the trailing 6-month period | 31.34% | 65.53% | -34.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.61% | 86.48% | -45.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.69% | 103.34% | -59.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.30% | 112.09% | -65.79% |
BIB vs. UVXY - Expense Ratio Comparison
Both BIB and UVXY have an expense ratio of 0.95%.
Dividends
BIB vs. UVXY - Dividend Comparison
BIB's dividend yield for the trailing twelve months is around 0.34%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BIB ProShares Ultra Nasdaq Biotechnology | 0.34% | 0.77% | 1.69% | 0.07% | 0.03% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BIB and UVXY have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (22.30%) compared to BIB (10.35%). In terms of maximum drawdown, BIB dropped -67.24% vs UVXY's -100.00%.
On 10-year performance, BIB leads with 6.70% vs -71.03% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, BIB has been the lower-risk option at 10.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BIB has performed better with a 6.70% return vs -71.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIB and UVXY have the same expense ratio: 0.95% per year.
BIB has the higher dividend yield at 0.34%, compared with 0.00% for UVXY.
BIB is categorized as Leveraged Equities, while UVXY is Volatility. BIB tracks NASDAQ Biotechnology Index (200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
BIB currently has the higher Sharpe Ratio (2.21 vs -0.85), 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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