COIA vs. UVXY

Last updated Jun 24, 2026

COIA (ProShares Ultra COIN) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - COIA is a Leveraged Equities fund tracking the Coinbase Global, Inc., while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. At a correlation of -0.48, they often move in opposite directions. COIA charges 1.06%/yr vs 0.95%/yr for UVXY.

Performance

COIA vs. UVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra COIN (COIA) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COIA achieves a -66.12% return, which is significantly lower than UVXY's -22.07% return.

COIA

• 1D: -8.21%
• 1M: -30.46%
• YTD: -66.12%
• 6M: -70.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

COIA vs. UVXY - Yearly Performance Comparison

	2026 (YTD)	2025
COIA ProShares Ultra COIN	-66.12%	-58.83%
UVXY ProShares Ultra VIX Short-Term Futures ETF	-22.07%	-36.07%

Correlation

The correlation between COIA and UVXY is -0.48, 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 (All Time) Calculated using the full available price history since Sep 10, 2025	-0.48

Return for Risk

COIA vs. UVXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COIA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

UVXY

UVXY Risk / Return Rank: 1
UVXY Sharpe Ratio Rank: 2
UVXY Sortino Ratio Rank: 1
UVXY Omega Ratio Rank: 1
UVXY Calmar Ratio Rank: 0
UVXY Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COIA vs. UVXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra COIN (COIA) 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.

	COIA	UVXY	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.87	—
Sortino ratio: Return per unit of downside risk	—	-1.64	—
Omega ratio: Gain probability vs. loss probability	—	0.81	—
Calmar ratio: Return relative to maximum drawdown	—	-1.01	—
Martin ratio: Return relative to average drawdown	—	-1.45	—

Drawdowns

COIA vs. UVXY - Drawdown Comparison

The maximum COIA drawdown since its inception was -90.45%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for COIA and UVXY.

Drawdown Indicators

	COIA	UVXY	Difference
Max Drawdown Largest peak-to-trough decline	-90.45%	-100.00%	+9.55%
Max Drawdown (1Y) Largest decline over 1 year	—	-73.51%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-94.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	-89.97%	-100.00%	+10.03%
Average Drawdown Average peak-to-trough decline	-63.40%	-98.75%	+35.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	55.34%	—

Volatility

Volatility by Period

	COIA	UVXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	25.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	66.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	139.95%	85.46%	+54.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	139.95%	103.96%	+35.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	139.95%	112.39%	+27.56%

COIA vs. UVXY - Expense Ratio Comparison

COIA has a 1.06% expense ratio, which is higher than UVXY's 0.95% expense ratio.

Dividends

COIA vs. UVXY - Dividend Comparison

COIA's dividend yield for the trailing twelve months is around 5.27%, while UVXY has not paid dividends to shareholders.

Position	TTM	2025
COIA ProShares Ultra COIN	5.27%	1.10%
UVXY ProShares Ultra VIX Short-Term Futures ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both COIA and UVXY in my portfolio?

COIA and UVXY have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, COIA or UVXY?

On fees, UVXY is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, COIA or UVXY?

UVXY is cheaper with a 0.95% expense ratio, compared with 1.06% for COIA.

Which ETF pays a higher dividend yield, COIA or UVXY?

COIA has the higher dividend yield at 5.27%, compared with 0.00% for UVXY.

What is the main difference between COIA and UVXY?

COIA is categorized as Leveraged Equities, while UVXY is Volatility. COIA tracks Coinbase Global, Inc., while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 1.06% for COIA and 0.95% for UVXY.