BIS vs. XTJL
BIS (ProShares UltraShort Nasdaq Biotechnology) and XTJL (Innovator U.S. Equity Accelerated Plus ETF - July) are both Leveraged Equities funds. BIS is passively managed, while XTJL is actively managed. Over the past 5 years, BIS returned -17.36%/yr vs 9.59%/yr for XTJL. At a correlation of -0.55, they often move in opposite directions. BIS charges 0.95%/yr vs 0.79%/yr for XTJL.
Performance
BIS vs. XTJL - Performance Comparison
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Returns By Period
In the year-to-date period, BIS achieves a -27.05% return, which is significantly lower than XTJL's 5.76% return.
BIS
- 1D
- 3.00%
- 1M
- -18.23%
- 6M
- -24.96%
- YTD
- -27.05%
- 1Y
- -56.42%
- 3Y*
- -28.45%
- 5Y*
- -17.36%
- 10Y*
- -25.49%
XTJL
- 1D
- -0.56%
- 1M
- 0.36%
- 6M
- 4.80%
- YTD
- 5.76%
- 1Y
- 13.62%
- 3Y*
- 14.14%
- 5Y*
- 9.59%
- 10Y*
- —
BIS vs. XTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | -27.05% | -45.95% | 4.79% | -6.54% | -2.14% | 9.13% |
XTJL Innovator U.S. Equity Accelerated Plus ETF - July | 5.76% | 15.42% | 14.43% | 25.72% | -15.66% | 7.81% |
Correlation
The correlation between BIS and XTJL is -0.39, 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 | -0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.55 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | -0.55 |
The correlation between BIS and XTJL shifts across timeframes, from -0.55 (5 years) to -0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BIS vs. XTJL — Risk / Return Rank
BIS
XTJL
BIS vs. XTJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Nasdaq Biotechnology (BIS) and Innovator U.S. Equity Accelerated Plus ETF - July (XTJL). 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 | XTJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.23 | ||
| Sortino ratioReturn per unit of downside risk | -5.11 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.41 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 2.67 | -3.60 |
| Martin ratioReturn relative to average drawdown | -1.45 | 15.12 | -16.57 |
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Drawdowns
BIS vs. XTJL - Drawdown Comparison
The maximum BIS drawdown since its inception was -99.89%, which is greater than XTJL's maximum drawdown of -23.24%. Use the drawdown chart below to compare losses from any high point for BIS and XTJL.
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Drawdown Indicators
| BIS | XTJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.89% | -23.24% | -76.65% |
Max Drawdown (1Y)Largest decline over 1 year | -60.93% | -5.12% | -55.81% |
Max Drawdown (3Y)Largest decline over 3 years | -73.96% | -16.70% | -57.26% |
Max Drawdown (5Y)Largest decline over 5 years | -80.19% | -23.24% | -56.95% |
Max Drawdown (10Y)Largest decline over 10 years | -95.82% | — | — |
Current DrawdownCurrent decline from peak | -99.88% | -0.56% | -99.32% |
Average DrawdownAverage peak-to-trough decline | -90.07% | -3.96% | -86.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.97% | 0.90% | +38.07% |
Volatility
BIS vs. XTJL - Volatility Comparison
ProShares UltraShort Nasdaq Biotechnology (BIS) has a higher volatility of 12.50% compared to Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) at 1.25%. This indicates that BIS's price experiences larger fluctuations and is considered to be riskier than XTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIS | XTJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.50% | 1.25% | +11.25% |
Volatility (6M)Calculated over the trailing 6-month period | 32.06% | 5.71% | +26.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.05% | 7.40% | +33.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.99% | 15.10% | +28.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.20% | 15.07% | +31.13% |
BIS vs. XTJL - Expense Ratio Comparison
BIS has a 0.95% expense ratio, which is higher than XTJL's 0.79% expense ratio.
Dividends
BIS vs. XTJL - Dividend Comparison
BIS's dividend yield for the trailing twelve months is around 5.78%, while XTJL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | 5.78% | 5.25% | 3.73% | 1.75% | 0.00% | 0.00% | 0.45% | 2.11% | 0.37% |
XTJL Innovator U.S. Equity Accelerated Plus ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BIS and XTJL 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 (12.50%) compared to XTJL (1.25%). In terms of maximum drawdown, BIS dropped -99.89% vs XTJL's -23.24%.
On 5-year performance, XTJL leads with 9.59% vs -17.36% for BIS. On fees, XTJL is cheaper at 0.79% per year. On volatility, XTJL has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XTJL has performed better with a 9.59% return vs -17.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTJL is cheaper with a 0.79% expense ratio, compared with 0.95% for BIS.
BIS has the higher dividend yield at 5.78%, compared with 0.00% for XTJL.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for BIS and 0.79% for XTJL.
XTJL currently has the higher Sharpe Ratio (1.85 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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