CLIX vs. UVXY
CLIX (ProShares Long Online/Short Stores ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - CLIX is a Long-Short fund tracking the ProShares Long Online/Short Stores Index, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 5 years, CLIX returned -6.40%/yr vs -67.90%/yr for UVXY. At a correlation of -0.45, they often move in opposite directions. CLIX charges 0.65%/yr vs 0.95%/yr for UVXY.
Performance
CLIX vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, CLIX achieves a -6.21% return, which is significantly higher than UVXY's -19.06% return.
CLIX
- 1D
- -2.35%
- 1M
- -6.73%
- YTD
- -6.21%
- 6M
- -6.37%
- 1Y
- 12.94%
- 3Y*
- 18.92%
- 5Y*
- -6.40%
- 10Y*
- —
UVXY
- 1D
- -0.24%
- 1M
- -22.10%
- YTD
- -19.06%
- 6M
- -37.37%
- 1Y
- -72.91%
- 3Y*
- -64.55%
- 5Y*
- -67.90%
- 10Y*
- -72.67%
CLIX vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | -6.21% | 32.81% | 20.73% | 28.97% | -46.73% | -39.96% | 90.91% | 17.32% | 6.34% | -2.09% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -19.06% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -37.05% |
Correlation
The correlation between CLIX and UVXY is -0.44, 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 | -0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.48 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2017 | -0.45 |
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Return for Risk
CLIX vs. UVXY — Risk / Return Rank
CLIX
UVXY
CLIX vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Long Online/Short Stores ETF (CLIX) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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.
| CLIX | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +2.57 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.82 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | -0.97 | +1.63 |
| Martin ratioReturn relative to average drawdown | 1.81 | -1.31 | +3.12 |
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
| CLIX | UVXY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | -0.87 | +1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | -0.66 | +0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | -0.68 | +0.85 |
Drawdowns
CLIX vs. UVXY - Drawdown Comparison
The maximum CLIX drawdown since its inception was -73.21%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for CLIX and UVXY.
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Drawdown Indicators
| CLIX | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.21% | -100.00% | +26.79% |
Max Drawdown (1Y)Largest decline over 1 year | -19.57% | -75.22% | +55.65% |
Max Drawdown (3Y)Largest decline over 3 years | -21.18% | -95.45% | +74.27% |
Max Drawdown (5Y)Largest decline over 5 years | -68.22% | -99.68% | +31.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -44.59% | -100.00% | +55.41% |
Average DrawdownAverage peak-to-trough decline | -34.70% | -98.55% | +63.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.15% | 55.63% | -48.48% |
Volatility
CLIX vs. UVXY - Volatility Comparison
The current volatility for ProShares Long Online/Short Stores ETF (CLIX) is 5.08%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. This indicates that CLIX experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CLIX | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 11.77% | -6.69% |
Volatility (6M)Calculated over the trailing 6-month period | 15.59% | 62.64% | -47.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.89% | 84.42% | -63.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.94% | 103.85% | -76.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.92% | 113.82% | -87.90% |
CLIX vs. UVXY - Expense Ratio Comparison
CLIX has a 0.65% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
CLIX vs. UVXY - Dividend Comparison
CLIX's dividend yield for the trailing twelve months is around 0.57%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | 0.57% | 0.46% | 0.46% | 0.00% | 0.00% | 0.00% | 1.33% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CLIX and UVXY have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (11.77%) compared to CLIX (5.08%). In terms of maximum drawdown, CLIX dropped -73.21% vs UVXY's -100.00%.
On 5-year performance, CLIX leads with -6.40% vs -67.90% for UVXY. On fees, CLIX is cheaper at 0.65% per year. On volatility, CLIX has been the lower-risk option at 5.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CLIX has performed better with a -6.40% return vs -67.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CLIX is cheaper with a 0.65% expense ratio, compared with 0.95% for UVXY.
CLIX has the higher dividend yield at 0.57%, compared with 0.00% for UVXY.
CLIX is categorized as Long-Short, while UVXY is Volatility. CLIX tracks ProShares Long Online/Short Stores Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 0.65% for CLIX and 0.95% for UVXY.
CLIX currently has the higher Sharpe Ratio (0.62 vs -0.87), 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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