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 8.87%/yr vs -72.11%/yr for UVXY. At a correlation of -0.54, they often move in opposite directions. 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 23.85% return, which is significantly higher than UVXY's -33.76% return. Over the past 10 years, BIB has outperformed UVXY with an annualized return of 8.87%, while UVXY has yielded a comparatively lower -72.11% annualized return.
BIB
- 1D
- -1.09%
- 1M
- 19.54%
- 6M
- 21.46%
- YTD
- 23.85%
- 1Y
- 95.70%
- 3Y*
- 24.68%
- 5Y*
- 2.09%
- 10Y*
- 8.87%
UVXY
- 1D
- -2.14%
- 1M
- -17.16%
- 6M
- -33.16%
- YTD
- -33.76%
- 1Y
- -72.68%
- 3Y*
- -62.00%
- 5Y*
- -67.84%
- 10Y*
- -72.11%
BIB vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIB ProShares Ultra Nasdaq Biotechnology | 23.85% | 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 | -33.76% | -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 -0.37, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | -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 -0.37 (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 | +3.21 | ||
| Sortino ratioReturn per unit of downside risk | +4.50 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.82 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 5.69 | -0.99 | +6.68 |
| Martin ratioReturn relative to average drawdown | 17.20 | -1.48 | +18.68 |
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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% | -73.42% | +56.50% |
Max Drawdown (3Y)Largest decline over 3 years | -45.30% | -95.32% | +50.02% |
Max Drawdown (5Y)Largest decline over 5 years | -65.86% | -99.74% | +33.88% |
Max Drawdown (10Y)Largest decline over 10 years | -66.20% | -100.00% | +33.80% |
Current DrawdownCurrent decline from peak | -10.05% | -100.00% | +89.95% |
Average DrawdownAverage peak-to-trough decline | -32.62% | -98.75% | +66.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.59% | 49.12% | -43.53% |
Volatility
BIB vs. UVXY - Volatility Comparison
The current volatility for ProShares Ultra Nasdaq Biotechnology (BIB) is 11.65%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 20.24%. 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 | 11.65% | 20.24% | -8.59% |
Volatility (6M)Calculated over the trailing 6-month period | 31.64% | 66.67% | -35.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.93% | 85.34% | -44.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.78% | 103.83% | -60.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.34% | 112.04% | -65.70% |
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 0.33%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BIB ProShares Ultra Nasdaq Biotechnology | 0.33% | 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 -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (20.24%) compared to BIB (11.65%). In terms of maximum drawdown, BIB dropped -67.24% vs UVXY's -100.00%.
On 10-year performance, BIB leads with 8.87% vs -72.11% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, BIB has been the lower-risk option at 11.65%. 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 8.87% return vs -72.11%. 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 0.33%, 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 (2.35 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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