SIJ vs. UVXY
SIJ (ProShares UltraShort Industrials) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - SIJ is a Leveraged Equities fund tracking the DJ Global United States (All) / Industrials -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, SIJ returned -27.81%/yr vs -72.31%/yr for UVXY. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
SIJ vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, SIJ achieves a -28.55% return, which is significantly higher than UVXY's -35.49% return. Over the past 10 years, SIJ has outperformed UVXY with an annualized return of -27.81%, while UVXY has yielded a comparatively lower -72.31% annualized return.
SIJ
- 1D
- -1.30%
- 1M
- -6.93%
- 6M
- -21.99%
- YTD
- -28.55%
- 1Y
- -32.13%
- 3Y*
- -28.25%
- 5Y*
- -19.80%
- 10Y*
- -27.81%
UVXY
- 1D
- -3.58%
- 1M
- -19.32%
- 6M
- -32.32%
- YTD
- -35.49%
- 1Y
- -72.78%
- 3Y*
- -63.56%
- 5Y*
- -68.08%
- 10Y*
- -72.31%
SIJ vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -28.55% | -29.33% | -21.63% | -24.18% | 18.15% | -34.31% | -54.09% | -45.12% | 20.55% | -36.32% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -35.49% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between SIJ and UVXY is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.61 |
The correlation between SIJ and UVXY has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.
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Return for Risk
SIJ vs. UVXY — Risk / Return Rank
SIJ
UVXY
SIJ vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) 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.
| SIJ | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.82 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | -0.99 | +0.14 |
| Martin ratioReturn relative to average drawdown | -1.64 | -1.49 | -0.15 |
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Drawdowns
SIJ vs. UVXY - Drawdown Comparison
The maximum SIJ drawdown since its inception was -99.93%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SIJ and UVXY.
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Drawdown Indicators
| SIJ | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -100.00% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -73.42% | +35.89% |
Max Drawdown (3Y)Largest decline over 3 years | -72.61% | -95.32% | +22.71% |
Max Drawdown (5Y)Largest decline over 5 years | -78.65% | -99.74% | +21.09% |
Max Drawdown (10Y)Largest decline over 10 years | -96.42% | -100.00% | +3.58% |
Current DrawdownCurrent decline from peak | -99.93% | -100.00% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -86.79% | -98.75% | +11.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.35% | 48.70% | -29.35% |
Volatility
SIJ vs. UVXY - Volatility Comparison
The current volatility for ProShares UltraShort Industrials (SIJ) is 13.89%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 22.69%. This indicates that SIJ 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
| SIJ | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.89% | 22.69% | -8.80% |
Volatility (6M)Calculated over the trailing 6-month period | 28.40% | 66.50% | -38.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.95% | 85.17% | -51.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.22% | 103.78% | -67.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.65% | 111.99% | -72.34% |
SIJ vs. UVXY - Expense Ratio Comparison
Both SIJ and UVXY have an expense ratio of 0.95%.
Dividends
SIJ vs. UVXY - Dividend Comparison
SIJ's dividend yield for the trailing twelve months is around 4.93%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | 4.93% | 5.38% | 5.99% | 4.90% | 0.00% | 0.00% | 0.00% | 1.49% | 0.39% |
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
SIJ and UVXY have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (22.69%) compared to SIJ (13.89%). In terms of maximum drawdown, SIJ dropped -99.93% vs UVXY's -100.00%.
On 10-year performance, SIJ leads with -27.81% vs -72.31% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, SIJ has been the lower-risk option at 13.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SIJ has performed better with a -27.81% return vs -72.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIJ and UVXY have the same expense ratio: 0.95% per year.
SIJ has the higher dividend yield at 4.93%, compared with 0.00% for UVXY.
SIJ is categorized as Leveraged Equities, while UVXY is Volatility. SIJ tracks DJ Global United States (All) / Industrials -IND (-200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
UVXY currently has the higher Sharpe Ratio (-0.85 vs -0.94), 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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