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 3 years, BIS returned -21.43%/yr vs 14.68%/yr for XTJL. At a correlation of -0.56, 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 -6.36% return, which is significantly lower than XTJL's 5.36% return.
BIS
- 1D
- -3.65%
- 1M
- 2.35%
- YTD
- -6.36%
- 6M
- -4.11%
- 1Y
- -49.58%
- 3Y*
- -21.43%
- 5Y*
- -14.49%
- 10Y*
- -23.34%
XTJL
- 1D
- 0.00%
- 1M
- 1.16%
- YTD
- 5.36%
- 6M
- 6.38%
- 1Y
- 15.64%
- 3Y*
- 14.68%
- 5Y*
- —
- 10Y*
- —
BIS vs. XTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | -6.36% | -45.95% | 4.79% | -6.54% | -2.14% | 11.68% |
XTJL Innovator U.S. Equity Accelerated Plus ETF - July | 5.36% | 15.42% | 14.43% | 25.72% | -15.66% | 7.28% |
Correlation
The correlation between BIS and XTJL is -0.45, 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 | -0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.51 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021 | -0.56 |
The correlation between BIS and XTJL shifts across timeframes, from -0.56 (all time) to -0.45 (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.
| BIS | XTJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.37 | ||
| Sortino ratioReturn per unit of downside risk | -5.13 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.46 | -0.68 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 3.07 | -3.98 |
| Martin ratioReturn relative to average drawdown | -1.25 | 17.37 | -18.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIS | XTJL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.25 | 2.12 | -3.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.33 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.67 | 0.65 | -1.32 |
Drawdowns
BIS vs. XTJL - Drawdown Comparison
The maximum BIS drawdown since its inception was -99.87%, 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 | -99.87% | -23.24% | -76.63% |
Max Drawdown (1Y)Largest decline over 1 year | -54.50% | -5.12% | -49.38% |
Max Drawdown (3Y)Largest decline over 3 years | -66.87% | -16.70% | -50.17% |
Max Drawdown (5Y)Largest decline over 5 years | -74.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -95.25% | — | — |
Current DrawdownCurrent decline from peak | -99.85% | 0.00% | -99.85% |
Average DrawdownAverage peak-to-trough decline | -90.03% | -4.04% | -85.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.59% | 0.90% | +38.69% |
Volatility
BIS vs. XTJL - Volatility Comparison
ProShares UltraShort Nasdaq Biotechnology (BIS) has a higher volatility of 13.87% compared to Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) at 0.33%. 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 | 13.87% | 0.33% | +13.54% |
Volatility (6M)Calculated over the trailing 6-month period | 30.95% | 5.72% | +25.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.68% | 7.43% | +32.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.74% | 15.22% | +28.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.36% | 15.22% | +31.14% |
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 4.92%, while XTJL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | 4.92% | 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 -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIS has higher volatility (13.87%) compared to XTJL (0.33%). In terms of maximum drawdown, BIS dropped -99.87% vs XTJL's -23.24%.
On 3-year performance, XTJL leads with 14.68% vs -21.43% for BIS. On fees, XTJL is cheaper at 0.79% per year. On volatility, XTJL has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XTJL has performed better with a 14.68% return vs -21.43%. 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 4.92%, 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 (2.12 vs -1.25), 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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