SLON vs. UVXY

Last updated Jun 24, 2026

SLON (ProShares Ultra Solana ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - SLON is a Cryptocurrency fund tracking the Bloomberg Solana Index, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. At a correlation of -0.38, they often move in opposite directions. SLON charges 2.14%/yr vs 0.95%/yr for UVXY.

Performance

SLON vs. UVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Solana ETF (SLON) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLON achieves a -77.64% return, which is significantly lower than UVXY's -22.07% return.

SLON

• 1D: -11.08%
• 1M: -37.46%
• YTD: -77.64%
• 6M: -77.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SLON vs. UVXY - Yearly Performance Comparison

	2026 (YTD)	2025
SLON ProShares Ultra Solana ETF	-77.64%	-62.89%
UVXY ProShares Ultra VIX Short-Term Futures ETF	-22.07%	-58.75%

Correlation

The correlation between SLON and UVXY is -0.38, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	-0.38

Return for Risk

SLON vs. UVXY — Risk / Return Rank

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

SLON

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

UVXY

UVXY Risk / Return Rank: 1
UVXY Sharpe Ratio Rank: 2
UVXY Sortino Ratio Rank: 1
UVXY Omega Ratio Rank: 1
UVXY Calmar Ratio Rank: 0
UVXY Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SLON vs. UVXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Solana ETF (SLON) 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.

	SLON	UVXY	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.87	—
Sortino ratio: Return per unit of downside risk	—	-1.64	—
Omega ratio: Gain probability vs. loss probability	—	0.81	—
Calmar ratio: Return relative to maximum drawdown	—	-1.01	—
Martin ratio: Return relative to average drawdown	—	-1.45	—

Drawdowns

SLON vs. UVXY - Drawdown Comparison

The maximum SLON drawdown since its inception was -96.31%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SLON and UVXY.

Drawdown Indicators

	SLON	UVXY	Difference
Max Drawdown Largest peak-to-trough decline	-96.31%	-100.00%	+3.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-73.51%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-94.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	-95.80%	-100.00%	+4.20%
Average Drawdown Average peak-to-trough decline	-65.32%	-98.75%	+33.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	55.34%	—

Volatility

Volatility by Period

	SLON	UVXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	25.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	66.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	148.14%	85.46%	+62.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	148.14%	103.96%	+44.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	148.14%	112.39%	+35.75%

SLON vs. UVXY - Expense Ratio Comparison

SLON has a 2.14% expense ratio, which is higher than UVXY's 0.95% expense ratio.

Dividends

SLON vs. UVXY - Dividend Comparison

SLON's dividend yield for the trailing twelve months is around 25.68%, while UVXY has not paid dividends to shareholders.

Position	TTM	2025
SLON ProShares Ultra Solana ETF	25.68%	5.74%
UVXY ProShares Ultra VIX Short-Term Futures ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both SLON and UVXY in my portfolio?

SLON and UVXY have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLON or UVXY?

On fees, UVXY is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLON or UVXY?

UVXY is cheaper with a 0.95% expense ratio, compared with 2.14% for SLON.

Which ETF pays a higher dividend yield, SLON or UVXY?

SLON has the higher dividend yield at 25.68%, compared with 0.00% for UVXY.

What is the main difference between SLON and UVXY?

SLON is categorized as Cryptocurrency, while UVXY is Volatility. SLON tracks Bloomberg Solana Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 2.14% for SLON and 0.95% for UVXY.