BIS vs. DAX
BIS (ProShares UltraShort Nasdaq Biotechnology) and DAX (Global X DAX Germany ETF) are both exchange-traded funds - BIS is a Leveraged Equities fund tracking the NASDAQ Biotechnology Index (-200%), while DAX is a Europe Equities fund tracking the DAX Index. Both are passively managed. Over the past 10 years, BIS returned -24.02%/yr vs 9.35%/yr for DAX. Their -0.43 correlation means they have often moved in opposite directions in the past. BIS charges 0.95%/yr vs 0.20%/yr for DAX.
Performance
BIS vs. DAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BIS achieves a -24.85% return, which is significantly lower than DAX's 2.45% return. Over the past 10 years, BIS has underperformed DAX with an annualized return of -24.02%, while DAX has yielded a comparatively higher 9.35% annualized return.
BIS
- 1D
- 3.65%
- 1M
- 9.65%
- 6M
- -20.75%
- YTD
- -24.85%
- 1Y
- -53.59%
- 3Y*
- -27.87%
- 5Y*
- -15.63%
- 10Y*
- -24.02%
- ALL TIME*
- -32.48%
DAX
- 1D
- 0.06%
- 1M
- 1.29%
- 6M
- 1.41%
- YTD
- 2.45%
- 1Y
- 8.50%
- 3Y*
- 17.57%
- 5Y*
- 9.16%
- 10Y*
- 9.35%
- ALL TIME*
- 7.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $67.10K | $102.51K | $113.13K | |
| $1.64M | $2.14M | $1.96M |
BIS vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | -24.85% | -45.95% | 4.79% | -6.54% | -2.14% | -14.74% | -56.01% | -41.01% | 5.14% | -36.98% |
DAX Global X DAX Germany ETF | 2.45% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
Correlation
The correlation between BIS and DAX is -0.39, 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. | -0.39 |
Correlation (3Y) Balances recent behavior with more history. | -0.42 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.44 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | -0.43 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BIS vs. DAX — Risk / Return Rank
BIS
DAX
BIS vs. DAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Nasdaq Biotechnology (BIS) and Global X DAX Germany ETF (DAX). 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.
| BIS | DAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.74 | ||
| Sortino ratioReturn per unit of downside risk | -2.91 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.08 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 0.49 | -1.40 |
| Martin ratioReturn relative to average drawdown | -1.38 | 1.51 | -2.89 |
Loading charts...
Drawdowns
BIS vs. DAX - Drawdown Comparison
The maximum BIS drawdown since its inception was -99.89%, which is greater than DAX's maximum drawdown of -45.58%. Use the drawdown chart below to compare losses from any high point for BIS and DAX.
Loading charts...
Drawdown Indicators
| BIS | DAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.89% | -45.58% | -54.31% |
Max Drawdown (1Y)Largest decline over 1 year | -59.49% | -14.82% | -44.67% |
Max Drawdown (3Y)Largest decline over 3 years | -73.96% | -16.03% | -57.93% |
Max Drawdown (5Y)Largest decline over 5 years | -80.19% | -38.92% | -41.27% |
Max Drawdown (10Y)Largest decline over 10 years | -95.82% | -45.58% | -50.24% |
Current DrawdownCurrent decline from peak | -99.88% | -1.64% | -98.24% |
Average DrawdownAverage peak-to-trough decline | -90.11% | -10.43% | -79.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.26% | 4.80% | +34.46% |
Volatility
BIS vs. DAX - Volatility Comparison
ProShares UltraShort Nasdaq Biotechnology (BIS) has a higher volatility of 12.40% compared to Global X DAX Germany ETF (DAX) at 4.82%. This indicates that BIS's price experiences larger fluctuations and is considered to be riskier than DAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BIS | DAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.40% | 4.82% | +7.58% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 15.31% | +16.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.71% | 17.87% | +22.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.93% | 20.43% | +23.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.15% | 20.92% | +25.23% |
BIS vs. DAX - Expense Ratio Comparison
BIS has a 0.95% expense ratio, which is higher than DAX's 0.20% expense ratio.
Dividends
BIS vs. DAX - Dividend Comparison
BIS's dividend yield for the trailing twelve months is around 5.61%, more than DAX's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | 5.61% | 5.25% | 3.73% | 1.75% | 0.00% | 0.00% | 0.45% | 2.11% | 0.37% | 0.00% | 0.00% | 0.00% |
DAX Global X DAX Germany ETF | 2.05% | 1.47% | 2.24% | 2.48% | 2.80% | 2.65% | 2.25% | 2.47% | 3.33% | 1.73% | 1.78% | 1.41% |
Frequently Asked Questions
BIS and DAX have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIS has higher volatility (12.40%) compared to DAX (4.82%). In terms of maximum drawdown, BIS dropped -99.89% vs DAX's -45.58%.
On 10-year performance, DAX leads with 9.35% vs -24.02% for BIS. On fees, DAX is cheaper at 0.20% per year. On volatility, DAX has been the lower-risk option at 4.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DAX has performed better with a 9.35% return vs -24.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DAX is cheaper with a 0.20% expense ratio, compared with 0.95% for BIS.
BIS has the higher dividend yield at 5.61%, compared with 2.05% for DAX.
BIS is categorized as Leveraged Equities, while DAX is Europe Equities. BIS tracks NASDAQ Biotechnology Index (-200%), while DAX tracks DAX Index. They also come from different issuers: ProShares and Global X. Their fees differ too: 0.95% for BIS and 0.20% for DAX.
DAX currently has the higher Sharpe Ratio (0.41 vs -1.33), 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.
Find the right allocation for BIS and DAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer