SKF vs. UVXY
SKF (ProShares UltraShort Financials) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - SKF is a Leveraged Equities fund tracking the DJ Global United States (All) / Financials -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, SKF returned -25.91%/yr vs -72.73%/yr for UVXY. A 0.67 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
SKF vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, SKF achieves a 15.68% return, which is significantly higher than UVXY's -23.07% return. Over the past 10 years, SKF has outperformed UVXY with an annualized return of -25.91%, while UVXY has yielded a comparatively lower -72.73% annualized return.
SKF
- 1D
- 2.34%
- 1M
- 3.32%
- YTD
- 15.68%
- 6M
- 10.42%
- 1Y
- 2.16%
- 3Y*
- -24.34%
- 5Y*
- -15.11%
- 10Y*
- -25.91%
UVXY
- 1D
- -4.95%
- 1M
- -26.21%
- YTD
- -23.07%
- 6M
- -39.47%
- 1Y
- -74.10%
- 3Y*
- -64.78%
- 5Y*
- -68.23%
- 10Y*
- -72.73%
SKF vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SKF ProShares UltraShort Financials | 15.68% | -23.99% | -36.29% | -21.78% | 17.63% | -47.66% | -42.40% | -42.97% | 16.42% | -31.70% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -23.07% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between SKF and UVXY is 0.58, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2011 | 0.67 |
The correlation between SKF and UVXY shifts across timeframes, from 0.56 (3 years) to 0.67 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SKF vs. UVXY — Risk / Return Rank
SKF
UVXY
SKF vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Financials (SKF) 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.
| SKF | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.81 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | -0.97 | +1.08 |
| Martin ratioReturn relative to average drawdown | 0.19 | -1.33 | +1.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SKF | UVXY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.08 | -0.88 | +0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.42 | -0.66 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.64 | -0.64 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.51 | -0.68 | +0.17 |
Drawdowns
SKF vs. UVXY - Drawdown Comparison
The maximum SKF drawdown since its inception was -99.96%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SKF and UVXY.
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Drawdown Indicators
| SKF | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -100.00% | +0.04% |
Max Drawdown (1Y)Largest decline over 1 year | -20.76% | -76.19% | +55.43% |
Max Drawdown (3Y)Largest decline over 3 years | -68.09% | -95.25% | +27.16% |
Max Drawdown (5Y)Largest decline over 5 years | -72.40% | -99.69% | +27.29% |
Max Drawdown (10Y)Largest decline over 10 years | -96.51% | -100.00% | +3.49% |
Current DrawdownCurrent decline from peak | -99.95% | -100.00% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -89.26% | -98.55% | +9.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.13% | 55.83% | -44.70% |
Volatility
SKF vs. UVXY - Volatility Comparison
The current volatility for ProShares UltraShort Financials (SKF) is 6.29%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 12.26%. This indicates that SKF 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
| SKF | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 12.26% | -5.97% |
Volatility (6M)Calculated over the trailing 6-month period | 21.80% | 62.79% | -40.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.85% | 84.51% | -55.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.03% | 103.82% | -67.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.90% | 113.81% | -72.91% |
SKF vs. UVXY - Expense Ratio Comparison
Both SKF and UVXY have an expense ratio of 0.95%.
Dividends
SKF vs. UVXY - Dividend Comparison
SKF's dividend yield for the trailing twelve months is around 4.09%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SKF ProShares UltraShort Financials | 4.09% | 5.61% | 7.94% | 3.93% | 0.03% | 0.00% | 0.11% | 1.29% | 0.06% |
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
SKF and UVXY have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (12.26%) compared to SKF (6.29%). In terms of maximum drawdown, SKF dropped -99.96% vs UVXY's -100.00%.
On 10-year performance, SKF leads with -25.91% vs -72.73% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, SKF has been the lower-risk option at 6.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SKF has performed better with a -25.91% return vs -72.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKF and UVXY have the same expense ratio: 0.95% per year.
SKF has the higher dividend yield at 4.09%, compared with 0.00% for UVXY.
SKF is categorized as Leveraged Equities, while UVXY is Volatility. SKF tracks DJ Global United States (All) / Financials -IND (-200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
SKF currently has the higher Sharpe Ratio (0.08 vs -0.88), 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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