RXD vs. UVXY
RXD (ProShares UltraShort Health Care) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - RXD is a Leveraged Equities fund tracking the DJ Global United States (All) / Health Care -IND (-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, RXD returned -19.74%/yr vs -73.85%/yr for UVXY. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
RXD vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a 3.27% return, which is significantly higher than UVXY's -22.07% return. Over the past 10 years, RXD has outperformed UVXY with an annualized return of -19.74%, while UVXY has yielded a comparatively lower -73.85% annualized return.
RXD
- 1D
- -2.74%
- 1M
- -3.78%
- YTD
- 3.27%
- 6M
- 3.62%
- 1Y
- -24.38%
- 3Y*
- -6.35%
- 5Y*
- -6.92%
- 10Y*
- -19.74%
UVXY
- 1D
- 8.28%
- 1M
- -14.92%
- YTD
- -22.07%
- 6M
- -24.28%
- 1Y
- -74.07%
- 3Y*
- -61.96%
- 5Y*
- -66.90%
- 10Y*
- -73.85%
RXD vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 3.27% | -21.66% | 4.83% | 3.25% | 1.20% | -37.97% | -44.25% | -32.44% | -14.33% | -35.24% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -22.07% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between RXD and UVXY is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.49 |
The correlation between RXD and UVXY shifts across timeframes, from 0.33 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RXD vs. UVXY — Risk / Return Rank
RXD
UVXY
RXD vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) 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.
| RXD | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.81 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | -1.01 | +0.30 |
| Martin ratioReturn relative to average drawdown | -1.06 | -1.45 | +0.39 |
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Drawdowns
RXD vs. UVXY - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.65%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for RXD and UVXY.
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Drawdown Indicators
| RXD | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.65% | -100.00% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -34.63% | -73.51% | +38.88% |
Max Drawdown (3Y)Largest decline over 3 years | -36.60% | -94.93% | +58.33% |
Max Drawdown (5Y)Largest decline over 5 years | -40.50% | -99.71% | +59.21% |
Max Drawdown (10Y)Largest decline over 10 years | -90.64% | -100.00% | +9.36% |
Current DrawdownCurrent decline from peak | -99.62% | -100.00% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -81.91% | -98.75% | +16.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.96% | 55.34% | -32.38% |
Volatility
RXD vs. UVXY - Volatility Comparison
The current volatility for ProShares UltraShort Health Care (RXD) is 10.51%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 25.85%. This indicates that RXD 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
| RXD | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.51% | 25.85% | -15.34% |
Volatility (6M)Calculated over the trailing 6-month period | 21.71% | 66.46% | -44.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.25% | 85.46% | -55.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.88% | 103.96% | -74.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.01% | 112.39% | -79.38% |
RXD vs. UVXY - Expense Ratio Comparison
Both RXD and UVXY have an expense ratio of 0.95%.
Dividends
RXD vs. UVXY - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 2.71%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 2.71% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% |
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% |
Frequently Asked Questions
RXD and UVXY have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (25.85%) compared to RXD (10.51%). In terms of maximum drawdown, RXD dropped -99.65% vs UVXY's -100.00%.
On 10-year performance, RXD leads with -19.74% vs -73.85% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, RXD has been the lower-risk option at 10.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RXD has performed better with a -19.74% return vs -73.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RXD and UVXY have the same expense ratio: 0.95% per year.
RXD has the higher dividend yield at 2.71%, compared with 0.00% for UVXY.
RXD is categorized as Leveraged Equities, while UVXY is Volatility. RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
RXD currently has the higher Sharpe Ratio (-0.81 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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