BIS vs. RSPN
BIS (ProShares UltraShort Nasdaq Biotechnology) and RSPN (Invesco S&P 500® Equal Weight Industrials ETF) are both exchange-traded funds - BIS is a Leveraged Equities fund tracking the NASDAQ Biotechnology Index (-200%), while RSPN is a Industrials Equities fund tracking the S&P 500® Equal Weight Industrials Index. Both are passively managed. Over the past 10 years, BIS returned -24.02%/yr vs 14.49%/yr for RSPN. Their -0.51 correlation means they have often moved in opposite directions in the past. BIS charges 0.95%/yr vs 0.40%/yr for RSPN.
Performance
BIS vs. RSPN - Performance Comparison
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Returns By Period
In the year-to-date period, BIS achieves a -24.85% return, which is significantly lower than RSPN's 11.17% return. Over the past 10 years, BIS has underperformed RSPN with an annualized return of -24.02%, while RSPN has yielded a comparatively higher 14.49% 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%
RSPN
- 1D
- 0.53%
- 1M
- -2.05%
- 6M
- 4.96%
- YTD
- 11.17%
- 1Y
- 16.51%
- 3Y*
- 15.49%
- 5Y*
- 11.67%
- 10Y*
- 14.49%
- ALL TIME*
- 11.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $67.10K | $102.51K | $113.13K | |
| $7.22M | $5.89M | $7.57M |
BIS vs. RSPN - 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% |
RSPN Invesco S&P 500® Equal Weight Industrials ETF | 11.17% | 13.84% | 17.63% | 22.32% | -8.79% | 26.07% | 18.07% | 33.17% | -13.23% | 23.22% |
Correlation
The correlation between BIS and RSPN is -0.40, 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. | -0.40 |
Correlation (3Y) Balances recent behavior with more history. | -0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.53 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010 | -0.51 |
The correlation between BIS and RSPN shifts across timeframes, from -0.53 (5 years) to -0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BIS vs. RSPN — Risk / Return Rank
BIS
RSPN
BIS vs. RSPN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Nasdaq Biotechnology (BIS) and Invesco S&P 500® Equal Weight Industrials ETF (RSPN). 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 | RSPN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -3.56 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.16 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 1.18 | -2.09 |
| Martin ratioReturn relative to average drawdown | -1.38 | 4.03 | -5.41 |
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Drawdowns
BIS vs. RSPN - Drawdown Comparison
The maximum BIS drawdown since its inception was -99.89%, which is greater than RSPN's maximum drawdown of -59.61%. Use the drawdown chart below to compare losses from any high point for BIS and RSPN.
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Drawdown Indicators
| BIS | RSPN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.89% | -59.61% | -40.28% |
Max Drawdown (1Y)Largest decline over 1 year | -59.49% | -12.36% | -47.13% |
Max Drawdown (3Y)Largest decline over 3 years | -73.96% | -20.89% | -53.07% |
Max Drawdown (5Y)Largest decline over 5 years | -80.19% | -21.88% | -58.31% |
Max Drawdown (10Y)Largest decline over 10 years | -95.82% | -42.02% | -53.80% |
Current DrawdownCurrent decline from peak | -99.88% | -2.50% | -97.38% |
Average DrawdownAverage peak-to-trough decline | -90.11% | -7.63% | -82.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.26% | 3.62% | +35.64% |
Volatility
BIS vs. RSPN - Volatility Comparison
ProShares UltraShort Nasdaq Biotechnology (BIS) has a higher volatility of 12.40% compared to Invesco S&P 500® Equal Weight Industrials ETF (RSPN) at 4.54%. This indicates that BIS's price experiences larger fluctuations and is considered to be riskier than RSPN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIS | RSPN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.40% | 4.54% | +7.86% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 12.97% | +18.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.71% | 16.33% | +24.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.93% | 18.28% | +25.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.15% | 20.34% | +25.81% |
BIS vs. RSPN - Expense Ratio Comparison
BIS has a 0.95% expense ratio, which is higher than RSPN's 0.40% expense ratio.
Dividends
BIS vs. RSPN - Dividend Comparison
BIS's dividend yield for the trailing twelve months is around 5.61%, more than RSPN's 0.83% 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% |
RSPN Invesco S&P 500® Equal Weight Industrials ETF | 0.83% | 0.86% | 0.98% | 1.06% | 1.09% | 0.70% | 0.96% | 1.33% | 1.49% | 1.12% | 1.31% | 1.51% |
Frequently Asked Questions
BIS and RSPN have a correlation of -0.40, 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 RSPN (4.54%). In terms of maximum drawdown, BIS dropped -99.89% vs RSPN's -59.61%.
On 10-year performance, RSPN leads with 14.49% vs -24.02% for BIS. On fees, RSPN is cheaper at 0.40% per year. On volatility, RSPN has been the lower-risk option at 4.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RSPN has performed better with a 14.49% return vs -24.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RSPN is cheaper with a 0.40% expense ratio, compared with 0.95% for BIS.
BIS has the higher dividend yield at 5.61%, compared with 0.83% for RSPN.
BIS is categorized as Leveraged Equities, while RSPN is Industrials Equities. BIS tracks NASDAQ Biotechnology Index (-200%), while RSPN tracks S&P 500® Equal Weight Industrials Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for BIS and 0.40% for RSPN.
RSPN currently has the higher Sharpe Ratio (0.89 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.
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