PYPG vs. BIS

Last updated Aug 2, 2026

PYPG (Leverage Shares 2X Long PYPL Daily ETF) and BIS (ProShares UltraShort Nasdaq Biotechnology) are both Leveraged Equities funds. PYPG is actively managed, while BIS is passively managed. Over the past year, PYPG returned -46.57% vs -53.59% for BIS. Their -0.34 correlation means they have often moved in opposite directions in the past. PYPG charges 0.75%/yr vs 0.95%/yr for BIS.

Performance

PYPG vs. BIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long PYPL Daily ETF (PYPG) and ProShares UltraShort Nasdaq Biotechnology (BIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PYPG achieves a -22.38% return, which is significantly higher than BIS's -24.85% return.

PYPG

• 1D: 0.29%
• 1M: 52.64%
• 6M: -3.30%
• YTD: -22.38%
• 1Y: -46.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -30.38%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BIS ProShares UltraShort Nasdaq Biotechnology	$67.10K	$102.51K	$113.13K
PYPG Leverage Shares 2X Long PYPL Daily ETF	$3.78M	$5.69M	$4.44M

PYPG vs. BIS - Yearly Performance Comparison

	2026 (YTD)	2025
PYPG Leverage Shares 2X Long PYPL Daily ETF	-22.38%	-20.19%
BIS ProShares UltraShort Nasdaq Biotechnology	-24.85%	-50.35%

Correlation

The correlation between PYPG and BIS is -0.29, 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.	-0.29
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	-0.34

Return for Risk

PYPG vs. BIS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PYPG

PYPG Risk / Return Rank: 5
PYPG Sharpe Ratio Rank: 4
PYPG Sortino Ratio Rank: 6
PYPG Omega Ratio Rank: 5
PYPG Calmar Ratio Rank: 4
PYPG Martin Ratio Rank: 5

BIS

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PYPG vs. BIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long PYPL Daily ETF (PYPG) 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.

	PYPG	BIS	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	-1.33	+0.75
Sortino ratio: Return per unit of downside risk	-0.48	-2.21	+1.73
Omega ratio: Gain probability vs. loss probability	0.93	0.76	+0.17
Calmar ratio: Return relative to maximum drawdown	-0.64	-0.91	+0.27
Martin ratio: Return relative to average drawdown	-0.92	-1.38	+0.46

PYPG vs. BIS - Sharpe Ratio Comparison

The current PYPG Sharpe Ratio is -0.59, which is higher than the BIS Sharpe Ratio of -1.33. The chart below compares the historical Sharpe Ratios of PYPG and BIS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PYPG vs. BIS - Drawdown Comparison

The maximum PYPG drawdown since its inception was -79.52%, smaller than the maximum BIS drawdown of -99.89%. Use the drawdown chart below to compare losses from any high point for PYPG and BIS.

Drawdown Indicators

	PYPG	BIS	Difference
Max Drawdown Largest peak-to-trough decline	-79.52%	-99.89%	+20.37%
Max Drawdown (1Y) Largest decline over 1 year	-77.14%	-59.49%	-17.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-73.96%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-80.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-95.82%	—
Current Drawdown Current decline from peak	-61.21%	-99.88%	+38.67%
Average Drawdown Average peak-to-trough decline	-41.99%	-90.11%	+48.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.30%	39.26%	+14.04%

Volatility

PYPG vs. BIS - Volatility Comparison

Leverage Shares 2X Long PYPL Daily ETF (PYPG) has a higher volatility of 33.09% compared to ProShares UltraShort Nasdaq Biotechnology (BIS) at 12.40%. This indicates that PYPG's price experiences larger fluctuations and is considered to be riskier than BIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYPG	BIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.09%	12.40%	+20.69%
Volatility (6M) Calculated over the trailing 6-month period	76.97%	31.89%	+45.08%
Volatility (1Y) Calculated over the trailing 1-year period	83.92%	40.71%	+43.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.50%	43.93%	+38.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.50%	46.15%	+36.35%

PYPG vs. BIS - Expense Ratio Comparison

PYPG has a 0.75% expense ratio, which is lower than BIS's 0.95% expense ratio.

Dividends

PYPG vs. BIS - Dividend Comparison

PYPG has not paid dividends to shareholders, while BIS's dividend yield for the trailing twelve months is around 5.61%.

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%
PYPG Leverage Shares 2X Long PYPL Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PYPG and BIS in my portfolio?

PYPG and BIS have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PYPG or BIS?

PYPG has higher volatility (33.09%) compared to BIS (12.40%). In terms of maximum drawdown, PYPG dropped -79.52% vs BIS's -99.89%.

Which ETF is better, PYPG or BIS?

On 1-year performance, PYPG leads with -46.57% vs -53.59% for BIS. On fees, PYPG is cheaper at 0.75% per year. On volatility, BIS has been the lower-risk option at 12.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PYPG or BIS?

Over the 1-year period, PYPG has performed better with a -46.57% return vs -53.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PYPG or BIS?

PYPG is cheaper with a 0.75% expense ratio, compared with 0.95% for BIS.

Which ETF pays a higher dividend yield, PYPG or BIS?

BIS has the higher dividend yield at 5.61%, compared with 0.00% for PYPG.

What is the main difference between PYPG and BIS?

They also come from different issuers: Leverage Shares and ProShares. Their fees differ too: 0.75% for PYPG and 0.95% for BIS.

Which has better risk-adjusted returns?

PYPG currently has the higher Sharpe Ratio (-0.59 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.