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 -25.72%/yr vs 14.46%/yr for RSPN. At a correlation of -0.51, they often move in opposite directions. 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 -29.18% return, which is significantly lower than RSPN's 12.08% return. Over the past 10 years, BIS has underperformed RSPN with an annualized return of -25.72%, while RSPN has yielded a comparatively higher 14.46% annualized return.
BIS
- 1D
- 5.01%
- 1M
- -20.61%
- 6M
- -26.01%
- YTD
- -29.18%
- 1Y
- -57.69%
- 3Y*
- -29.62%
- 5Y*
- -16.93%
- 10Y*
- -25.72%
RSPN
- 1D
- 0.45%
- 1M
- 2.14%
- 6M
- 6.64%
- YTD
- 12.08%
- 1Y
- 16.22%
- 3Y*
- 16.11%
- 5Y*
- 12.03%
- 10Y*
- 14.46%
BIS vs. RSPN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | -29.18% | -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 | 12.08% | 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 -0.43, 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 | -0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | -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 -0.54 (3 years) to -0.43 (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 | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -3.78 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.17 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 1.24 | -2.17 |
| Martin ratioReturn relative to average drawdown | -1.45 | 4.24 | -5.69 |
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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 | -60.93% | -12.36% | -48.57% |
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 | -99.89% | -1.71% | -98.18% |
Average DrawdownAverage peak-to-trough decline | -90.07% | -7.64% | -82.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.80% | 3.62% | +35.18% |
Volatility
BIS vs. RSPN - Volatility Comparison
ProShares UltraShort Nasdaq Biotechnology (BIS) has a higher volatility of 12.76% compared to Invesco S&P 500® Equal Weight Industrials ETF (RSPN) at 6.13%. 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 | 12.76% | 6.13% | +6.63% |
Volatility (6M)Calculated over the trailing 6-month period | 32.24% | 12.92% | +19.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.01% | 16.20% | +24.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.96% | 18.28% | +25.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.19% | 20.32% | +25.87% |
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 5.96%, more than RSPN's 0.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | 5.96% | 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 | 0.82% | 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 -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIS has higher volatility (12.76%) compared to RSPN (6.13%). In terms of maximum drawdown, BIS dropped -99.89% vs RSPN's -59.61%.
On 10-year performance, RSPN leads with 14.46% vs -25.72% for BIS. On fees, RSPN is cheaper at 0.40% per year. On volatility, RSPN has been the lower-risk option at 6.13%. 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 14.46% return vs -25.72%. 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 5.96%, compared with 0.82% 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 (0.95 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.
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