QB vs. UVXY
QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - QB is a Defined Outcome fund tracking the Nasdaq-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 year, QB returned 18.83% vs -72.68% for UVXY. At a correlation of -0.56, they often move in opposite directions. QB charges 0.58%/yr vs 0.95%/yr for UVXY.
Performance
QB vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, QB achieves a 12.67% return, which is significantly higher than UVXY's -33.76% return.
QB
- 1D
- 0.47%
- 1M
- 3.50%
- 6M
- 11.39%
- YTD
- 12.67%
- 1Y
- 18.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UVXY
- 1D
- -2.14%
- 1M
- -17.16%
- 6M
- -33.16%
- YTD
- -33.76%
- 1Y
- -72.68%
- 3Y*
- -62.00%
- 5Y*
- -67.84%
- 10Y*
- -72.11%
QB vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 12.67% | 6.10% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -33.76% | -62.34% |
Correlation
The correlation between QB and UVXY is -0.58, 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 | -0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | -0.56 |
The correlation between QB and UVXY has been stable across timeframes, ranging from -0.58 to -0.56 - a consistent structural relationship.
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Return for Risk
QB vs. UVXY — Risk / Return Rank
QB
UVXY
QB vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) 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.
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.
| QB | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.54 | ||
| Sortino ratioReturn per unit of downside risk | +5.48 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 0.82 | +0.82 |
| Calmar ratioReturn relative to maximum drawdown | 5.44 | -0.99 | +6.43 |
| Martin ratioReturn relative to average drawdown | 26.25 | -1.48 | +27.73 |
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Drawdowns
QB vs. UVXY - Drawdown Comparison
The maximum QB drawdown since its inception was -3.47%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QB and UVXY.
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Drawdown Indicators
| QB | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.47% | -100.00% | +96.53% |
Max Drawdown (1Y)Largest decline over 1 year | -3.47% | -73.42% | +69.95% |
Max Drawdown (3Y)Largest decline over 3 years | — | -95.32% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | 0.00% | -100.00% | +100.00% |
Average DrawdownAverage peak-to-trough decline | -0.42% | -98.75% | +98.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 49.12% | -48.40% |
Volatility
QB vs. UVXY - Volatility Comparison
The current volatility for ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) is 2.86%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 20.24%. This indicates that QB 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
| QB | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.86% | 20.24% | -17.38% |
Volatility (6M)Calculated over the trailing 6-month period | 5.82% | 66.67% | -60.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.03% | 85.34% | -78.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.93% | 103.83% | -96.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 112.04% | -105.11% |
QB vs. UVXY - Expense Ratio Comparison
QB has a 0.58% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
QB vs. UVXY - Dividend Comparison
QB's dividend yield for the trailing twelve months is around 0.77%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 0.77% | 0.48% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% |
Frequently Asked Questions
QB and UVXY have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (20.24%) compared to QB (2.86%). In terms of maximum drawdown, QB dropped -3.47% vs UVXY's -100.00%.
On 1-year performance, QB leads with 18.83% vs -72.68% for UVXY. On fees, QB is cheaper at 0.58% per year. On volatility, QB has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QB has performed better with a 18.83% return vs -72.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QB is cheaper with a 0.58% expense ratio, compared with 0.95% for UVXY.
QB has the higher dividend yield at 0.77%, compared with 0.00% for UVXY.
QB is categorized as Defined Outcome, while UVXY is Volatility. QB tracks Nasdaq-100, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 0.58% for QB and 0.95% for UVXY.
QB currently has the higher Sharpe Ratio (2.69 vs -0.85), 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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