EDGE vs. UVXY

Last updated Jun 4, 2026

EDGE (MRBL Enhanced Equity ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - EDGE is a Derivative Income fund actively managed by MRBL, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). EDGE is actively managed, while UVXY is passively managed. Over the past year, EDGE returned 28.99% vs -72.91% for UVXY. At a correlation of -0.81, they often move in opposite directions. EDGE charges 0.74%/yr vs 0.95%/yr for UVXY.

Performance

EDGE vs. UVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MRBL Enhanced Equity ETF (EDGE) 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, EDGE achieves a 9.19% return, which is significantly higher than UVXY's -19.06% return.

EDGE

• 1D: -0.24%
• 1M: 3.49%
• YTD: 9.19%
• 6M: 10.97%
• 1Y: 28.99%
• 3Y*: —
• 5Y*: —
• 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%

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

EDGE vs. UVXY - Yearly Performance Comparison

	2026 (YTD)	2025
EDGE MRBL Enhanced Equity ETF	9.19%	13.16%
UVXY ProShares Ultra VIX Short-Term Futures ETF	-19.06%	-61.20%

Correlation

The correlation between EDGE and UVXY is -0.79, 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	-0.79
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	-0.81

The correlation between EDGE and UVXY has been stable across timeframes, ranging from -0.81 to -0.79 - a consistent structural relationship.

Return for Risk

EDGE vs. UVXY — Risk / Return Rank

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

EDGE

EDGE Risk / Return Rank: 80
EDGE Sharpe Ratio Rank: 81
EDGE Sortino Ratio Rank: 80
EDGE Omega Ratio Rank: 86
EDGE Calmar Ratio Rank: 66
EDGE Martin Ratio Rank: 85

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: 1
UVXY Martin Ratio Rank: 2

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.

EDGE vs. UVXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MRBL Enhanced Equity ETF (EDGE) 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.

	EDGE	UVXY	Difference
Sharpe ratio: Return per unit of total volatility	2.58	-0.87	+3.45
Sortino ratio: Return per unit of downside risk	3.55	-1.60	+5.15
Omega ratio: Gain probability vs. loss probability	1.53	0.82	+0.71
Calmar ratio: Return relative to maximum drawdown	3.23	-0.97	+4.20
Martin ratio: Return relative to average drawdown	17.20	-1.31	+18.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDGE vs. UVXY - Sharpe Ratio Comparison

The current EDGE Sharpe Ratio is 2.58, which is higher than the UVXY Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of EDGE and UVXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EDGE	UVXY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	-0.87	+3.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	-0.68	+1.74

Drawdowns

EDGE vs. UVXY - Drawdown Comparison

The maximum EDGE drawdown since its inception was -20.66%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for EDGE and UVXY.

Drawdown Indicators

	EDGE	UVXY	Difference
Max Drawdown Largest peak-to-trough decline	-20.66%	-100.00%	+79.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-75.22%	+66.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-95.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	-0.24%	-100.00%	+99.76%
Average Drawdown Average peak-to-trough decline	-2.85%	-98.55%	+95.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	55.63%	-53.94%

Volatility

EDGE vs. UVXY - Volatility Comparison

The current volatility for MRBL Enhanced Equity ETF (EDGE) is 1.80%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. This indicates that EDGE 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.

Volatility by Period

	EDGE	UVXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.80%	11.77%	-9.97%
Volatility (6M) Calculated over the trailing 6-month period	9.08%	62.64%	-53.56%
Volatility (1Y) Calculated over the trailing 1-year period	11.28%	84.42%	-73.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.95%	103.85%	-87.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.95%	113.82%	-97.87%

EDGE vs. UVXY - Expense Ratio Comparison

EDGE has a 0.74% expense ratio, which is lower than UVXY's 0.95% expense ratio.

Dividends

EDGE vs. UVXY - Dividend Comparison

Neither EDGE nor UVXY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EDGE and UVXY in my portfolio?

EDGE and UVXY have a correlation of -0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDGE or UVXY?

UVXY has higher volatility (11.77%) compared to EDGE (1.80%). In terms of maximum drawdown, EDGE dropped -20.66% vs UVXY's -100.00%.

Which ETF is better, EDGE or UVXY?

On 1-year performance, EDGE leads with 28.99% vs -72.91% for UVXY. On fees, EDGE is cheaper at 0.74% per year. On volatility, EDGE has been the lower-risk option at 1.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDGE or UVXY?

Over the 1-year period, EDGE has performed better with a 28.99% return vs -72.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDGE or UVXY?

EDGE is cheaper with a 0.74% expense ratio, compared with 0.95% for UVXY.

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

EDGE and UVXY have nearly identical dividend yields, around 0.00%.

What is the main difference between EDGE and UVXY?

EDGE is categorized as Derivative Income, while UVXY is Volatility. They also come from different issuers: MRBL and ProShares. Their fees differ too: 0.74% for EDGE and 0.95% for UVXY.

Which has better risk-adjusted returns?

EDGE currently has the higher Sharpe Ratio (2.58 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.