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 -7.82%/yr vs -66.90%/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
Loading charts...
Returns By Period
In the year-to-date period, CLIX achieves a -8.57% return, which is significantly higher than UVXY's -22.07% return.
CLIX
- 1D
- 0.70%
- 1M
- -5.51%
- YTD
- -8.57%
- 6M
- -8.64%
- 1Y
- 9.82%
- 3Y*
- 17.63%
- 5Y*
- -7.82%
- 10Y*
- —
UVXY
- 1D
- 8.28%
- 1M
- -14.92%
- YTD
- -22.07%
- 6M
- -24.28%
- 1Y
- -74.07%
- 3Y*
- -61.96%
- 5Y*
- -66.90%
- 10Y*
- -73.85%
CLIX vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | -8.57% | 32.81% | 20.73% | 28.97% | -46.73% | -39.96% | 90.91% | 17.32% | 6.34% | -2.43% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -22.07% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -42.19% |
Correlation
The correlation between CLIX and UVXY 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 | -0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.49 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | -0.45 |
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
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.
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.
| CLIX | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.81 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | -1.01 | +1.51 |
| Martin ratioReturn relative to average drawdown | 1.29 | -1.45 | +2.75 |
Loading charts...
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.
Loading charts...
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% | -73.51% | +53.94% |
Max Drawdown (3Y)Largest decline over 3 years | -21.18% | -94.93% | +73.75% |
Max Drawdown (5Y)Largest decline over 5 years | -68.22% | -99.71% | +31.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -45.99% | -100.00% | +54.01% |
Average DrawdownAverage peak-to-trough decline | -34.75% | -98.75% | +64.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.61% | 55.34% | -47.73% |
Volatility
CLIX vs. UVXY - Volatility Comparison
The current volatility for ProShares Long Online/Short Stores ETF (CLIX) is 6.64%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 25.85%. 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.
Loading charts...
Volatility by Period
| CLIX | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.64% | 25.85% | -19.21% |
Volatility (6M)Calculated over the trailing 6-month period | 16.31% | 66.46% | -50.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.47% | 85.46% | -63.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.05% | 103.96% | -76.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.92% | 112.39% | -86.47% |
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 0.58%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CLIX ProShares Long Online/Short Stores ETF | 0.58% | 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 -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (25.85%) compared to CLIX (6.64%). In terms of maximum drawdown, CLIX dropped -73.21% vs UVXY's -100.00%.
On 5-year performance, CLIX leads with -7.82% vs -66.90% for UVXY. On fees, CLIX is cheaper at 0.65% per year. On volatility, CLIX has been the lower-risk option at 6.64%. 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 -7.82% return vs -66.90%. 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 0.58%, 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 (0.46 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.
Find the right allocation for CLIX and UVXY
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