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LTL vs. UVXY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LTL vs. UVXY

Last updated Jun 4, 2026

LTL (ProShares Ultra Telecommunications) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - LTL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Telecommunications Index (200%), while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, LTL returned 9.43%/yr vs -72.67%/yr for UVXY. At a correlation of -0.41, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

LTL vs. UVXY - Performance Comparison

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

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Returns By Period

In the year-to-date period, LTL achieves a -11.79% return, which is significantly higher than UVXY's -19.06% return. Over the past 10 years, LTL has outperformed UVXY with an annualized return of 9.43%, while UVXY has yielded a comparatively lower -72.67% annualized return.

LTL

1D
-2.50%
1M
-7.30%
YTD
-11.79%
6M
-7.47%
1Y
15.16%
3Y*
36.33%
5Y*
16.49%
10Y*
9.43%

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)

LTL vs. UVXY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
LTL
ProShares Ultra Telecommunications		-11.79%37.06%65.15%62.03%-41.14%40.42%-3.25%30.16%-23.44%-26.85%
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%-94.17%

Correlation

The correlation between LTL and UVXY is -0.54, 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

-0.54

Correlation (3Y)
Calculated over the trailing 3-year period

-0.55

Correlation (5Y)
Calculated over the trailing 5-year period

-0.60

Correlation (10Y)
Calculated over the trailing 10-year period

-0.49

Correlation (All Time)
Calculated using the full available price history since Oct 5, 2011

-0.41

The correlation between LTL and UVXY shifts across timeframes, from -0.60 (5 years) to -0.41 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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ProShares Ultra Telecommunications

ProShares Ultra VIX Short-Term Futures ETF

Often compared with LTL:
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Often compared with UVXY:
UVXY vs. UVIXUVXY vs. VXXUVXY vs. VIXYUVXY vs. SVXYUVXY vs. SQQQUVXY vs. SPYUVXY vs. SPXS

Return for Risk

LTL vs. UVXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LTL
LTL Risk / Return Rank: 1818
Overall Rank
LTL Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
LTL Sortino Ratio Rank: 1919
Sortino Ratio Rank
LTL Omega Ratio Rank: 1717
Omega Ratio Rank
LTL Calmar Ratio Rank: 1818
Calmar Ratio Rank
LTL Martin Ratio Rank: 1919
Martin Ratio Rank
UVXY
UVXY Risk / Return Rank: 11
Overall Rank
UVXY Sharpe Ratio Rank: 22
Sharpe Ratio Rank
UVXY Sortino Ratio Rank: 11
Sortino Ratio Rank
UVXY Omega Ratio Rank: 11
Omega Ratio Rank
UVXY Calmar Ratio Rank: 11
Calmar Ratio Rank
UVXY Martin Ratio Rank: 22
Martin Ratio Rank
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.

LTL vs. UVXY - Risk-Adjusted Trends Comparison

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

LTLUVXYDifference
Sharpe ratioReturn per unit of total volatility
0.57
-0.87

+1.43

Sortino ratioReturn per unit of downside risk
0.98
-1.60

+2.59

Omega ratioGain probability vs. loss probability

1.11

0.82

+0.29

Calmar ratioReturn relative to maximum drawdown

0.71

-0.97

+1.68

Martin ratioReturn relative to average drawdown

2.10

-1.31

+3.41

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LTL vs. UVXY - Sharpe Ratio Comparison

The current LTL Sharpe Ratio is 0.57, which is higher than the UVXY Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of LTL 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.

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Sharpe Ratios by Period

LTLUVXYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.57

-0.87

+1.43

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.48

-0.66

+1.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.26

-0.64

+0.90

Sharpe Ratio (All Time)

Calculated using the full available price history

0.15

-0.68

+0.83

Drawdowns

LTL vs. UVXY - Drawdown Comparison

The maximum LTL drawdown since its inception was -80.20%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for LTL and UVXY.

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Drawdown Indicators

LTLUVXYDifference

Max Drawdown

Largest peak-to-trough decline

-80.20%

-100.00%

+19.80%

Max Drawdown (1Y)

Largest decline over 1 year

-21.43%

-75.22%

+53.79%

Max Drawdown (3Y)

Largest decline over 3 years

-34.37%

-95.45%

+61.08%

Max Drawdown (5Y)

Largest decline over 5 years

-52.60%

-99.68%

+47.08%

Max Drawdown (10Y)

Largest decline over 10 years

-64.15%

-100.00%

+35.85%

Current Drawdown

Current decline from peak

-14.89%

-100.00%

+85.11%

Average Drawdown

Average peak-to-trough decline

-28.66%

-98.55%

+69.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.25%

55.63%

-48.38%

Volatility

LTL vs. UVXY - Volatility Comparison

The current volatility for ProShares Ultra Telecommunications (LTL) is 7.57%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. This indicates that LTL 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

LTLUVXYDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.57%

11.77%

-4.20%

Volatility (6M)

Calculated over the trailing 6-month period

19.39%

62.64%

-43.25%

Volatility (1Y)

Calculated over the trailing 1-year period

26.85%

84.42%

-57.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

34.56%

103.85%

-69.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.96%

113.82%

-76.86%

LTL vs. UVXY - Expense Ratio Comparison

Both LTL and UVXY have an expense ratio of 0.95%.

Dividends

LTL vs. UVXY - Dividend Comparison

LTL's dividend yield for the trailing twelve months is around 0.92%, while UVXY has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
LTL
ProShares Ultra Telecommunications		0.92%0.64%0.29%0.97%2.01%1.14%1.57%0.83%1.99%1.96%0.70%1.55%
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%0.00%0.00%

Frequently Asked Questions

LTL and UVXY have a correlation of -0.54, 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 LTL (7.57%). In terms of maximum drawdown, LTL dropped -80.20% vs UVXY's -100.00%.

On 10-year performance, LTL leads with 9.43% vs -72.67% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, LTL has been the lower-risk option at 7.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, LTL has performed better with a 9.43% return vs -72.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

LTL and UVXY have the same expense ratio: 0.95% per year.

LTL has the higher dividend yield at 0.92%, compared with 0.00% for UVXY.

LTL is categorized as Leveraged Equities, while UVXY is Volatility. LTL tracks Dow Jones U.S. Select Telecommunications Index (200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).

LTL currently has the higher Sharpe Ratio (0.57 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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