IBBQ vs. BIS
IBBQ (Invesco Nasdaq Biotechnology ETF) and BIS (ProShares UltraShort Nasdaq Biotechnology) are both exchange-traded funds - IBBQ is a Health & Biotech Equities fund tracking the Nasdaq Biotechnology Index, while BIS is a Leveraged Equities fund tracking the NASDAQ Biotechnology Index (-200%). Both are passively managed. Over the past 5 years, IBBQ returned 5.42%/yr vs -15.63%/yr for BIS. Their -0.99 correlation means they have often moved in opposite directions in the past. IBBQ charges 0.19%/yr vs 0.95%/yr for BIS.
Performance
IBBQ vs. BIS - Performance Comparison
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Returns By Period
In the year-to-date period, IBBQ achieves a 13.32% return, which is significantly higher than BIS's -24.85% return.
IBBQ
- 1D
- -1.84%
- 1M
- -4.55%
- 6M
- 10.60%
- YTD
- 13.32%
- 1Y
- 44.71%
- 3Y*
- 17.25%
- 5Y*
- 5.42%
- 10Y*
- —
- ALL TIME*
- 5.57%
BIS
- 1D
- 3.65%
- 1M
- 9.65%
- 6M
- -20.75%
- YTD
- -24.85%
- 1Y
- -53.59%
- 3Y*
- -27.87%
- 5Y*
- -15.63%
- 10Y*
- -24.02%
- ALL TIME*
- -32.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $67.10K | $102.51K | $113.13K | |
| $517.67K | $836.57K | $727.46K |
IBBQ vs. BIS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBBQ Invesco Nasdaq Biotechnology ETF | 13.32% | 33.32% | -0.63% | 4.73% | -10.41% | -6.24% |
BIS ProShares UltraShort Nasdaq Biotechnology | -24.85% | -45.95% | 4.79% | -6.54% | -2.14% | 8.13% |
Correlation
The correlation between IBBQ and BIS is -0.99, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.99 |
Correlation (3Y) Balances recent behavior with more history. | -0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021 | -0.99 |
The correlation between IBBQ and BIS has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.
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Return for Risk
IBBQ vs. BIS — Risk / Return Rank
IBBQ
BIS
IBBQ vs. BIS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotechnology ETF (IBBQ) and ProShares UltraShort Nasdaq Biotechnology (BIS). 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.
| IBBQ | BIS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.60 | ||
| Sortino ratioReturn per unit of downside risk | +5.34 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 0.76 | +0.61 |
| Calmar ratioReturn relative to maximum drawdown | 5.49 | -0.91 | +6.40 |
| Martin ratioReturn relative to average drawdown | 15.87 | -1.38 | +17.25 |
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Drawdowns
IBBQ vs. BIS - Drawdown Comparison
The maximum IBBQ drawdown since its inception was -37.94%, smaller than the maximum BIS drawdown of -99.89%. Use the drawdown chart below to compare losses from any high point for IBBQ and BIS.
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Drawdown Indicators
| IBBQ | BIS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.94% | -99.89% | +61.95% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -59.49% | +51.15% |
Max Drawdown (3Y)Largest decline over 3 years | -23.66% | -73.96% | +50.30% |
Max Drawdown (5Y)Largest decline over 5 years | -37.94% | -80.19% | +42.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -95.82% | — |
Current DrawdownCurrent decline from peak | -6.14% | -99.88% | +93.74% |
Average DrawdownAverage peak-to-trough decline | -16.38% | -90.11% | +73.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 39.26% | -36.38% |
Volatility
IBBQ vs. BIS - Volatility Comparison
The current volatility for Invesco Nasdaq Biotechnology ETF (IBBQ) is 6.31%, while ProShares UltraShort Nasdaq Biotechnology (BIS) has a volatility of 12.40%. This indicates that IBBQ experiences smaller price fluctuations and is considered to be less risky than BIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBBQ | BIS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 12.40% | -6.09% |
Volatility (6M)Calculated over the trailing 6-month period | 15.72% | 31.89% | -16.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.18% | 40.71% | -20.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.98% | 43.93% | -21.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.85% | 46.15% | -24.30% |
IBBQ vs. BIS - Expense Ratio Comparison
IBBQ has a 0.19% expense ratio, which is lower than BIS's 0.95% expense ratio.
Dividends
IBBQ vs. BIS - Dividend Comparison
IBBQ's dividend yield for the trailing twelve months is around 0.80%, less than BIS's 5.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BIS ProShares UltraShort Nasdaq Biotechnology | 5.61% | 5.25% | 3.73% | 1.75% | 0.00% | 0.00% | 0.45% | 2.11% | 0.37% |
IBBQ Invesco Nasdaq Biotechnology ETF | 0.80% | 0.90% | 1.14% | 0.81% | 0.76% | 0.63% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBBQ and BIS have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIS has higher volatility (12.40%) compared to IBBQ (6.31%). In terms of maximum drawdown, IBBQ dropped -37.94% vs BIS's -99.89%.
On 5-year performance, IBBQ leads with 5.42% vs -15.63% for BIS. On fees, IBBQ is cheaper at 0.19% per year. On volatility, IBBQ has been the lower-risk option at 6.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IBBQ has performed better with a 5.42% return vs -15.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBBQ is cheaper with a 0.19% expense ratio, compared with 0.95% for BIS.
BIS has the higher dividend yield at 5.61%, compared with 0.80% for IBBQ.
IBBQ is categorized as Health & Biotech Equities, while BIS is Leveraged Equities. IBBQ tracks Nasdaq Biotechnology Index, while BIS tracks NASDAQ Biotechnology Index (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.19% for IBBQ and 0.95% for BIS.
IBBQ currently has the higher Sharpe Ratio (2.27 vs -1.33), 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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