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RXL vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between RXL and SPY is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.0
Correlation: 0.7

Performance

RXL vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Health Care (RXL) and SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

400.00%600.00%800.00%1,000.00%1,200.00%1,400.00%NovemberDecember2025FebruaryMarchApril
1,060.38%
433.05%
RXL
SPY

Key characteristics

Sharpe Ratio

RXL:

-0.26

SPY:

0.54

Sortino Ratio

RXL:

-0.16

SPY:

0.89

Omega Ratio

RXL:

0.98

SPY:

1.13

Calmar Ratio

RXL:

-0.24

SPY:

0.58

Martin Ratio

RXL:

-0.57

SPY:

2.39

Ulcer Index

RXL:

12.86%

SPY:

4.51%

Daily Std Dev

RXL:

28.81%

SPY:

20.07%

Max Drawdown

RXL:

-66.81%

SPY:

-55.19%

Current Drawdown

RXL:

-25.63%

SPY:

-10.54%

Returns By Period

In the year-to-date period, RXL achieves a -2.23% return, which is significantly higher than SPY's -6.44% return. Over the past 10 years, RXL has underperformed SPY with an annualized return of 9.79%, while SPY has yielded a comparatively higher 11.95% annualized return.


RXL

YTD

-2.23%

1M

-11.78%

6M

-17.84%

1Y

-9.33%

5Y*

8.69%

10Y*

9.79%

SPY

YTD

-6.44%

1M

-5.00%

6M

-5.02%

1Y

9.54%

5Y*

15.80%

10Y*

11.95%

*Annualized

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RXL vs. SPY - Expense Ratio Comparison

RXL has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.


Expense ratio chart for RXL: current value is 0.95%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
RXL: 0.95%
Expense ratio chart for SPY: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPY: 0.09%

Risk-Adjusted Performance

RXL vs. SPY — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RXL
The Risk-Adjusted Performance Rank of RXL is 1111
Overall Rank
The Sharpe Ratio Rank of RXL is 1111
Sharpe Ratio Rank
The Sortino Ratio Rank of RXL is 1212
Sortino Ratio Rank
The Omega Ratio Rank of RXL is 1212
Omega Ratio Rank
The Calmar Ratio Rank of RXL is 99
Calmar Ratio Rank
The Martin Ratio Rank of RXL is 1212
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 6565
Overall Rank
The Sharpe Ratio Rank of SPY is 6262
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 6464
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 6565
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 6969
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 6767
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

RXL vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Health Care (RXL) and SPDR S&P 500 ETF (SPY). 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.


The chart of Sharpe ratio for RXL, currently valued at -0.26, compared to the broader market-1.000.001.002.003.004.00
RXL: -0.26
SPY: 0.54
The chart of Sortino ratio for RXL, currently valued at -0.16, compared to the broader market-2.000.002.004.006.008.00
RXL: -0.16
SPY: 0.89
The chart of Omega ratio for RXL, currently valued at 0.98, compared to the broader market0.501.001.502.002.50
RXL: 0.98
SPY: 1.13
The chart of Calmar ratio for RXL, currently valued at -0.24, compared to the broader market0.002.004.006.008.0010.0012.00
RXL: -0.24
SPY: 0.58
The chart of Martin ratio for RXL, currently valued at -0.57, compared to the broader market0.0020.0040.0060.00
RXL: -0.57
SPY: 2.39

The current RXL Sharpe Ratio is -0.26, which is lower than the SPY Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of RXL and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
-0.26
0.54
RXL
SPY

Dividends

RXL vs. SPY - Dividend Comparison

RXL's dividend yield for the trailing twelve months is around 1.36%, more than SPY's 1.31% yield.


TTM20242023202220212020201920182017201620152014
RXL
ProShares Ultra Health Care
1.36%1.22%0.18%0.32%0.10%0.15%0.27%0.32%0.11%0.12%0.93%0.20%
SPY
SPDR S&P 500 ETF
1.31%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

RXL vs. SPY - Drawdown Comparison

The maximum RXL drawdown since its inception was -66.81%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for RXL and SPY. For additional features, visit the drawdowns tool.


-35.00%-30.00%-25.00%-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-25.63%
-10.54%
RXL
SPY

Volatility

RXL vs. SPY - Volatility Comparison

ProShares Ultra Health Care (RXL) has a higher volatility of 18.61% compared to SPDR S&P 500 ETF (SPY) at 15.13%. This indicates that RXL's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%5.00%10.00%15.00%20.00%NovemberDecember2025FebruaryMarchApril
18.61%
15.13%
RXL
SPY