EMTY vs. UVXY
EMTY (ProShares Decline of the Retail Store ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - EMTY is a Inverse Equities fund tracking the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), 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, EMTY returned -2.87%/yr vs -67.90%/yr for UVXY. At a 0.49 correlation, their price movements are largely independent. EMTY charges 0.66%/yr vs 0.95%/yr for UVXY.
Performance
EMTY vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, EMTY achieves a 1.09% return, which is significantly higher than UVXY's -19.06% return.
EMTY
- 1D
- -0.32%
- 1M
- 1.81%
- YTD
- 1.09%
- 6M
- 3.80%
- 1Y
- 1.60%
- 3Y*
- -4.69%
- 5Y*
- -2.87%
- 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%
EMTY vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 1.09% | -1.76% | -4.13% | 0.27% | 4.32% | -37.39% | -31.92% | -8.65% | 11.16% | -14.16% |
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 EMTY and UVXY is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2017 | 0.49 |
The correlation between EMTY and UVXY has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.
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Return for Risk
EMTY vs. UVXY — Risk / Return Rank
EMTY
UVXY
EMTY vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Decline of the Retail Store ETF (EMTY) 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.
| EMTY | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.82 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | -0.97 | +1.09 |
| Martin ratioReturn relative to average drawdown | 0.20 | -1.31 | +1.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMTY | UVXY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | -0.87 | +0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | -0.66 | +0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | -0.68 | +0.25 |
Drawdowns
EMTY vs. UVXY - Drawdown Comparison
The maximum EMTY drawdown since its inception was -77.62%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for EMTY and UVXY.
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Drawdown Indicators
| EMTY | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.62% | -100.00% | +22.38% |
Max Drawdown (1Y)Largest decline over 1 year | -14.00% | -75.22% | +61.22% |
Max Drawdown (3Y)Largest decline over 3 years | -30.83% | -95.45% | +64.62% |
Max Drawdown (5Y)Largest decline over 5 years | -30.83% | -99.68% | +68.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -74.77% | -100.00% | +25.23% |
Average DrawdownAverage peak-to-trough decline | -54.01% | -98.55% | +44.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 55.63% | -47.52% |
Volatility
EMTY vs. UVXY - Volatility Comparison
The current volatility for ProShares Decline of the Retail Store ETF (EMTY) is 6.00%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. This indicates that EMTY 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
| EMTY | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 11.77% | -5.77% |
Volatility (6M)Calculated over the trailing 6-month period | 12.40% | 62.64% | -50.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 84.42% | -66.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.36% | 103.85% | -81.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.67% | 113.82% | -88.15% |
EMTY vs. UVXY - Expense Ratio Comparison
EMTY has a 0.66% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
EMTY vs. UVXY - Dividend Comparison
EMTY's dividend yield for the trailing twelve months is around 3.45%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.45% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMTY 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 EMTY (6.00%). In terms of maximum drawdown, EMTY dropped -77.62% vs UVXY's -100.00%.
On 5-year performance, EMTY leads with -2.87% vs -67.90% for UVXY. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMTY has performed better with a -2.87% return vs -67.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 0.95% for UVXY.
EMTY has the higher dividend yield at 3.45%, compared with 0.00% for UVXY.
EMTY is categorized as Inverse Equities, while UVXY is Volatility. EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 0.66% for EMTY and 0.95% for UVXY.
EMTY currently has the higher Sharpe Ratio (0.09 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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