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 -27.63%/yr vs -71.50%/yr for UVXY. Their 0.60 correlation means they have sometimes moved together and sometimes differently. 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 -26.79% return, which is significantly higher than UVXY's -35.24% return. Over the past 10 years, SIJ has outperformed UVXY with an annualized return of -27.63%, while UVXY has yielded a comparatively lower -71.50% annualized return.
SIJ
- 1D
- -1.40%
- 1M
- 4.49%
- 6M
- -16.96%
- YTD
- -26.79%
- 1Y
- -31.00%
- 3Y*
- -27.06%
- 5Y*
- -19.36%
- 10Y*
- -27.63%
- ALL TIME*
- -27.10%
UVXY
- 1D
- -4.24%
- 1M
- -6.17%
- 6M
- -37.50%
- YTD
- -35.24%
- 1Y
- -73.24%
- 3Y*
- -61.42%
- 5Y*
- -68.18%
- 10Y*
- -71.50%
- ALL TIME*
- -80.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $39.22K | $34.14K | $85.27K | |
| $190.03M | $191.90M | $239.87M |
SIJ vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -26.79% | -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 | -35.24% | -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 have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.60 |
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 | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.85 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.95 | +0.17 |
| Martin ratioReturn relative to average drawdown | -1.39 | -1.35 | -0.04 |
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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% | -73.88% | +36.35% |
Max Drawdown (3Y)Largest decline over 3 years | -72.61% | -95.42% | +22.81% |
Max Drawdown (5Y)Largest decline over 5 years | -78.65% | -99.68% | +21.03% |
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 | -86.83% | -98.76% | +11.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.00% | 51.60% | -30.60% |
Volatility
SIJ vs. UVXY - Volatility Comparison
The current volatility for ProShares UltraShort Industrials (SIJ) is 9.46%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 22.30%. 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 | 9.46% | 22.30% | -12.84% |
Volatility (6M)Calculated over the trailing 6-month period | 28.66% | 65.55% | -36.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.56% | 87.28% | -52.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.27% | 103.39% | -67.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.73% | 112.09% | -72.36% |
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 4.81%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | 4.81% | 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 (22.30%) compared to SIJ (9.46%). In terms of maximum drawdown, SIJ dropped -99.93% vs UVXY's -100.00%.
On 10-year performance, SIJ leads with -27.63% vs -71.50% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, SIJ has been the lower-risk option at 9.46%. 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 -27.63% return vs -71.50%. 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 4.81%, 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 (-0.80 vs -0.85), 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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