RXD vs. IBBQ
RXD (ProShares UltraShort Health Care) and IBBQ (Invesco Nasdaq Biotechnology ETF) are both exchange-traded funds - RXD is a Leveraged Equities fund tracking the DJ Global United States (All) / Health Care -IND (-200%), while IBBQ is a Health & Biotech Equities fund tracking the NASDAQ / Biotechnology. Both are passively managed. Over the past 3 years, RXD returned -6.72%/yr vs 13.38%/yr for IBBQ. At a correlation of -0.69, they often move in opposite directions. RXD charges 0.95%/yr vs 0.00%/yr for IBBQ.
Performance
RXD vs. IBBQ - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with RXD having a 4.25% return and IBBQ slightly higher at 4.29%.
RXD
- 1D
- -5.76%
- 1M
- -8.56%
- YTD
- 4.25%
- 6M
- 2.28%
- 1Y
- -22.97%
- 3Y*
- -6.72%
- 5Y*
- -7.99%
- 10Y*
- -19.08%
IBBQ
- 1D
- 2.33%
- 1M
- 0.50%
- YTD
- 4.29%
- 6M
- 3.35%
- 1Y
- 42.84%
- 3Y*
- 13.38%
- 5Y*
- —
- 10Y*
- —
RXD vs. IBBQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 4.25% | -21.66% | 4.83% | 3.25% | 1.20% | -22.82% |
IBBQ Invesco Nasdaq Biotechnology ETF | 4.29% | 33.32% | -0.63% | 4.73% | -10.41% | -6.72% |
Correlation
The correlation between RXD and IBBQ is -0.72, 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 | -0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.67 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021 | -0.69 |
The correlation between RXD and IBBQ has been stable across timeframes, ranging from -0.72 to -0.67 - a consistent structural relationship.
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Return for Risk
RXD vs. IBBQ — Risk / Return Rank
RXD
IBBQ
RXD vs. IBBQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) and Invesco Nasdaq Biotechnology ETF (IBBQ). 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.
| RXD | IBBQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.95 | ||
| Sortino ratioReturn per unit of downside risk | -3.97 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.36 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 5.16 | -5.83 |
| Martin ratioReturn relative to average drawdown | -1.04 | 16.87 | -17.91 |
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
| RXD | IBBQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.77 | 2.18 | -2.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.65 | 0.18 | -0.83 |
Drawdowns
RXD vs. IBBQ - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.65%, which is greater than IBBQ's maximum drawdown of -37.94%. Use the drawdown chart below to compare losses from any high point for RXD and IBBQ.
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Drawdown Indicators
| RXD | IBBQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.65% | -37.94% | -61.71% |
Max Drawdown (1Y)Largest decline over 1 year | -34.63% | -8.34% | -26.29% |
Max Drawdown (3Y)Largest decline over 3 years | -36.60% | -23.66% | -12.94% |
Max Drawdown (5Y)Largest decline over 5 years | -40.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -90.64% | — | — |
Current DrawdownCurrent decline from peak | -99.61% | -2.96% | -96.65% |
Average DrawdownAverage peak-to-trough decline | -81.88% | -16.81% | -65.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.14% | 2.55% | +19.59% |
Volatility
RXD vs. IBBQ - Volatility Comparison
ProShares UltraShort Health Care (RXD) has a higher volatility of 10.19% compared to Invesco Nasdaq Biotechnology ETF (IBBQ) at 7.25%. This indicates that RXD's price experiences larger fluctuations and is considered to be riskier than IBBQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RXD | IBBQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 7.25% | +2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 15.30% | +6.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.03% | 19.75% | +10.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.85% | 21.87% | +7.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.00% | 21.87% | +11.13% |
RXD vs. IBBQ - Expense Ratio Comparison
RXD has a 0.95% expense ratio, which is higher than IBBQ's 0.00% expense ratio.
Dividends
RXD vs. IBBQ - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 2.69%, more than IBBQ's 0.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBBQ Invesco Nasdaq Biotechnology ETF | 0.85% | 0.90% | 1.14% | 0.81% | 0.76% | 0.63% | 0.00% | 0.00% | 0.00% |
RXD ProShares UltraShort Health Care | 2.69% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% |
Frequently Asked Questions
RXD and IBBQ have a correlation of -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXD has higher volatility (10.19%) compared to IBBQ (7.25%). In terms of maximum drawdown, RXD dropped -99.65% vs IBBQ's -37.94%.
On 3-year performance, IBBQ leads with 13.38% vs -6.72% for RXD. On fees, IBBQ is cheaper at 0.00% per year. On volatility, IBBQ has been the lower-risk option at 7.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBBQ has performed better with a 13.38% return vs -6.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBBQ is cheaper with a 0.00% expense ratio, compared with 0.95% for RXD.
RXD has the higher dividend yield at 2.69%, compared with 0.85% for IBBQ.
RXD is categorized as Leveraged Equities, while IBBQ is Health & Biotech Equities. RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while IBBQ tracks NASDAQ / Biotechnology. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for RXD and 0.00% for IBBQ.
IBBQ currently has the higher Sharpe Ratio (2.18 vs -0.77), 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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