BIS vs. XLV
BIS (ProShares UltraShort Nasdaq Biotechnology) and XLV (State Street Health Care Select Sector SPDR ETF) are both exchange-traded funds - BIS is a Leveraged Equities fund tracking the NASDAQ Biotechnology Index (-200%), while XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index. Both are passively managed. Over the past 10 years, BIS returned -26.06%/yr vs 10.01%/yr for XLV. At a correlation of -0.72, they often move in opposite directions. BIS charges 0.95%/yr vs 0.08%/yr for XLV.
Performance
BIS vs. XLV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BIS achieves a -17.93% return, which is significantly lower than XLV's -0.85% return. Over the past 10 years, BIS has underperformed XLV with an annualized return of -26.06%, while XLV has yielded a comparatively higher 10.01% 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%
XLV
- 1D
- 1.41%
- 1M
- 1.98%
- YTD
- -0.85%
- 6M
- -0.97%
- 1Y
- 17.16%
- 3Y*
- 6.63%
- 5Y*
- 5.69%
- 10Y*
- 10.01%
BIS vs. XLV - 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% |
XLV State Street Health Care Select Sector SPDR ETF | -0.85% | 14.50% | 2.47% | 2.07% | -2.08% | 26.04% | 13.30% | 20.45% | 6.28% | 21.77% |
Correlation
The correlation between BIS and XLV is -0.68, 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 | -0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.70 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2010 | -0.72 |
The correlation between BIS and XLV has been stable across timeframes, ranging from -0.72 to -0.67 - a consistent structural relationship.
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. XLV — Risk / Return Rank
BIS
XLV
BIS vs. XLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Nasdaq Biotechnology (BIS) and State Street Health Care Select Sector SPDR ETF (XLV). 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 | XLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -4.15 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.20 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -1.02 | 1.65 | -2.66 |
| Martin ratioReturn relative to average drawdown | -1.39 | 3.89 | -5.28 |
Loading charts...
Drawdowns
BIS vs. XLV - Drawdown Comparison
The maximum BIS drawdown since its inception was -99.87%, which is greater than XLV's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for BIS and XLV.
Loading charts...
Drawdown Indicators
| BIS | XLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.87% | -39.17% | -60.70% |
Max Drawdown (1Y)Largest decline over 1 year | -55.07% | -10.47% | -44.60% |
Max Drawdown (3Y)Largest decline over 3 years | -67.92% | -17.11% | -50.81% |
Max Drawdown (5Y)Largest decline over 5 years | -75.59% | -17.11% | -58.48% |
Max Drawdown (10Y)Largest decline over 10 years | -95.40% | -28.40% | -67.00% |
Current DrawdownCurrent decline from peak | -99.87% | -4.20% | -95.67% |
Average DrawdownAverage peak-to-trough decline | -90.04% | -7.12% | -82.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.32% | 4.42% | +36.90% |
Volatility
BIS vs. XLV - Volatility Comparison
ProShares UltraShort Nasdaq Biotechnology (BIS) has a higher volatility of 13.79% compared to State Street Health Care Select Sector SPDR ETF (XLV) at 5.27%. This indicates that BIS's price experiences larger fluctuations and is considered to be riskier than XLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BIS | XLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.79% | 5.27% | +8.52% |
Volatility (6M)Calculated over the trailing 6-month period | 32.10% | 10.68% | +21.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.51% | 15.09% | +25.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.80% | 14.77% | +29.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.26% | 16.57% | +29.69% |
BIS vs. XLV - Expense Ratio Comparison
BIS has a 0.95% expense ratio, which is higher than XLV's 0.08% expense ratio.
Dividends
BIS vs. XLV - Dividend Comparison
BIS's dividend yield for the trailing twelve months is around 5.61%, more than XLV's 1.66% 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% |
XLV State Street Health Care Select Sector SPDR ETF | 1.66% | 1.60% | 1.67% | 1.59% | 1.47% | 1.33% | 1.49% | 2.17% | 1.57% | 1.47% | 1.60% | 1.43% |
Frequently Asked Questions
BIS and XLV have a correlation of -0.68, 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 XLV (5.27%). In terms of maximum drawdown, BIS dropped -99.87% vs XLV's -39.17%.
On 10-year performance, XLV leads with 10.01% vs -26.06% for BIS. On fees, XLV is cheaper at 0.08% per year. On volatility, XLV has been the lower-risk option at 5.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLV has performed better with a 10.01% return vs -26.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLV is cheaper with a 0.08% expense ratio, compared with 0.95% for BIS.
BIS has the higher dividend yield at 5.61%, compared with 1.66% for XLV.
BIS is categorized as Leveraged Equities, while XLV is Health & Biotech Equities. BIS tracks NASDAQ Biotechnology Index (-200%), while XLV tracks Health Care Select Sector Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for BIS and 0.08% for XLV.
XLV currently has the higher Sharpe Ratio (1.14 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 XLV
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