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 -15.63%/yr vs 9.55%/yr for XTJL. Their -0.55 correlation means they have often moved in opposite directions in the past. 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 -24.85% return, which is significantly lower than XTJL's 6.32% 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%
XTJL
- 1D
- 0.76%
- 1M
- 0.96%
- 6M
- 5.49%
- YTD
- 6.32%
- 1Y
- 14.27%
- 3Y*
- 13.98%
- 5Y*
- 9.55%
- 10Y*
- —
- ALL TIME*
- 9.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $67.10K | $102.51K | $113.13K | |
| $26.11K | $26.81K | $267.40K |
BIS vs. XTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | -24.85% | -45.95% | 4.79% | -6.54% | -2.14% | 9.13% |
XTJL Innovator U.S. Equity Accelerated Plus ETF - July | 6.32% | 15.42% | 14.43% | 25.72% | -15.66% | 7.81% |
Correlation
The correlation between BIS and XTJL is -0.38, 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. | -0.38 |
Correlation (3Y) Balances recent behavior with more history. | -0.48 |
Correlation (5Y) Shows whether the relationship held over a longer 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 -0.38 (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 | -3.01 | ||
| Sortino ratioReturn per unit of downside risk | -4.70 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.36 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 2.55 | -3.46 |
| Martin ratioReturn relative to average drawdown | -1.38 | 14.07 | -15.44 |
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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 | -59.49% | -5.12% | -54.37% |
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% | -0.09% | -99.79% |
Average DrawdownAverage peak-to-trough decline | -90.11% | -3.92% | -86.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.26% | 0.93% | +38.33% |
Volatility
BIS vs. XTJL - Volatility Comparison
ProShares UltraShort Nasdaq Biotechnology (BIS) has a higher volatility of 12.40% compared to Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) at 2.90%. 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 | 12.40% | 2.90% | +9.50% |
Volatility (6M)Calculated over the trailing 6-month period | 31.89% | 6.12% | +25.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.71% | 7.79% | +32.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.93% | 15.11% | +28.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.15% | 15.03% | +31.12% |
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 5.61%, while XTJL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | 5.61% | 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 -0.38, 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 XTJL (2.90%). In terms of maximum drawdown, BIS dropped -99.89% vs XTJL's -23.24%.
On 5-year performance, XTJL leads with 9.55% vs -15.63% for BIS. On fees, XTJL is cheaper at 0.79% per year. On volatility, XTJL has been the lower-risk option at 2.90%. 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 9.55% return vs -15.63%. 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 5.61%, 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 (1.68 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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