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 Index. Both are passively managed. Over the past 5 years, RXD returned -8.36%/yr vs 6.24%/yr for IBBQ. At a correlation of -0.69, they often move in opposite directions. RXD charges 0.95%/yr vs 0.19%/yr for IBBQ.
Performance
RXD vs. IBBQ - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a -9.19% return, which is significantly lower than IBBQ's 15.05% return.
RXD
- 1D
- -4.64%
- 1M
- -12.05%
- 6M
- -7.00%
- YTD
- -9.19%
- 1Y
- -31.61%
- 3Y*
- -10.78%
- 5Y*
- -8.36%
- 10Y*
- -19.81%
IBBQ
- 1D
- -0.09%
- 1M
- 10.09%
- 6M
- 13.95%
- YTD
- 15.05%
- 1Y
- 48.21%
- 3Y*
- 17.43%
- 5Y*
- 6.24%
- 10Y*
- —
RXD vs. IBBQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | -9.19% | -21.66% | 4.83% | 3.25% | 1.20% | -21.92% |
IBBQ Invesco Nasdaq Biotechnology ETF | 15.05% | 33.32% | -0.63% | 4.73% | -10.41% | -6.24% |
Correlation
The correlation between RXD and IBBQ is -0.70, 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 | -0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.69 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021 | -0.69 |
The correlation between RXD and IBBQ has been stable across timeframes, ranging from -0.70 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.
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.
| RXD | IBBQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.42 | ||
| Sortino ratioReturn per unit of downside risk | -4.64 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.40 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 5.81 | -6.63 |
| Martin ratioReturn relative to average drawdown | -1.29 | 18.06 | -19.35 |
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Drawdowns
RXD vs. IBBQ - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.67%, 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 | -99.67% | -37.94% | -61.73% |
Max Drawdown (1Y)Largest decline over 1 year | -38.77% | -8.34% | -30.43% |
Max Drawdown (3Y)Largest decline over 3 years | -40.62% | -23.66% | -16.96% |
Max Drawdown (5Y)Largest decline over 5 years | -44.27% | -37.94% | -6.33% |
Max Drawdown (10Y)Largest decline over 10 years | -91.23% | — | — |
Current DrawdownCurrent decline from peak | -99.66% | -4.71% | -94.95% |
Average DrawdownAverage peak-to-trough decline | -81.96% | -16.48% | -65.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.61% | 2.68% | +21.93% |
Volatility
RXD vs. IBBQ - Volatility Comparison
ProShares UltraShort Health Care (RXD) has a higher volatility of 12.04% compared to Invesco Nasdaq Biotechnology ETF (IBBQ) at 5.92%. 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 | 12.04% | 5.92% | +6.12% |
Volatility (6M)Calculated over the trailing 6-month period | 23.68% | 15.75% | +7.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.49% | 20.17% | +11.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.25% | 22.01% | +8.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.07% | 21.87% | +11.20% |
RXD vs. IBBQ - Expense Ratio Comparison
RXD has a 0.95% expense ratio, which is higher than IBBQ's 0.19% expense ratio.
Dividends
RXD vs. IBBQ - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 3.27%, more than IBBQ's 0.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBBQ Invesco Nasdaq Biotechnology ETF | 0.79% | 0.90% | 1.14% | 0.81% | 0.76% | 0.63% | 0.00% | 0.00% | 0.00% |
RXD ProShares UltraShort Health Care | 3.27% | 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 -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXD has higher volatility (12.04%) compared to IBBQ (5.92%). In terms of maximum drawdown, RXD dropped -99.67% vs IBBQ's -37.94%.
On 5-year performance, IBBQ leads with 6.24% vs -8.36% for RXD. On fees, IBBQ is cheaper at 0.19% per year. On volatility, IBBQ has been the lower-risk option at 5.92%. 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 6.24% return vs -8.36%. 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 RXD.
RXD has the higher dividend yield at 3.27%, compared with 0.79% 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 Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for RXD and 0.19% for IBBQ.
IBBQ currently has the higher Sharpe Ratio (2.41 vs -1.01), 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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