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 -26.06%/yr vs 9.68%/yr for DAX. At a correlation of -0.43, they often move in opposite directions. 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 -17.93% return, which is significantly lower than DAX's -1.81% return. Over the past 10 years, BIS has underperformed DAX with an annualized return of -26.06%, while DAX has yielded a comparatively higher 9.68% annualized return.
BIS
- 1D
- -1.74%
- 1M
- -10.00%
- YTD
- -17.93%
- 6M
- -14.94%
- 1Y
- -55.93%
- 3Y*
- -24.98%
- 5Y*
- -14.70%
- 10Y*
- -26.06%
DAX
- 1D
- -1.06%
- 1M
- -1.26%
- YTD
- -1.81%
- 6M
- -1.55%
- 1Y
- 3.85%
- 3Y*
- 17.16%
- 5Y*
- 8.06%
- 10Y*
- 9.68%
BIS vs. DAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | -17.93% | -45.95% | 4.79% | -6.54% | -2.14% | -14.74% | -56.01% | -41.01% | 5.14% | -36.98% |
DAX Global X DAX Germany ETF | -1.81% | 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 -0.45, 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 | -0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | -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 | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -2.77 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.05 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -1.02 | 0.26 | -1.28 |
| Martin ratioReturn relative to average drawdown | -1.39 | 0.80 | -2.19 |
Loading charts...
Drawdowns
BIS vs. DAX - Drawdown Comparison
The maximum BIS drawdown since its inception was -99.87%, 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 | -99.87% | -45.58% | -54.29% |
Max Drawdown (1Y)Largest decline over 1 year | -55.07% | -14.82% | -40.25% |
Max Drawdown (3Y)Largest decline over 3 years | -67.92% | -16.03% | -51.89% |
Max Drawdown (5Y)Largest decline over 5 years | -75.59% | -38.92% | -36.67% |
Max Drawdown (10Y)Largest decline over 10 years | -95.40% | -45.58% | -49.82% |
Current DrawdownCurrent decline from peak | -99.87% | -5.73% | -94.14% |
Average DrawdownAverage peak-to-trough decline | -90.04% | -10.48% | -79.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.32% | 4.82% | +36.50% |
Volatility
BIS vs. DAX - Volatility Comparison
ProShares UltraShort Nasdaq Biotechnology (BIS) has a higher volatility of 13.79% compared to Global X DAX Germany ETF (DAX) at 5.25%. 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 | 13.79% | 5.25% | +8.54% |
Volatility (6M)Calculated over the trailing 6-month period | 32.10% | 14.86% | +17.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.51% | 17.98% | +22.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.80% | 20.43% | +23.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.26% | 20.98% | +25.28% |
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 1.50% 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 | 1.50% | 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 -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIS has higher volatility (13.79%) compared to DAX (5.25%). In terms of maximum drawdown, BIS dropped -99.87% vs DAX's -45.58%.
On 10-year performance, DAX leads with 9.68% vs -26.06% for BIS. On fees, DAX is cheaper at 0.20% per year. On volatility, DAX has been the lower-risk option at 5.25%. 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 9.68% return vs -26.06%. 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 1.50% 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 (0.22 vs -1.38), 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