SMDV vs. UVXY
SMDV (ProShares Russell 2000 Dividend Growers ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - SMDV is a Small Cap Blend Equities fund tracking the Russell 2000 Dividend Growth Index, 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, SMDV returned 7.53%/yr vs -71.50%/yr for UVXY. Their -0.51 correlation means they have often moved in opposite directions in the past. SMDV charges 0.40%/yr vs 0.95%/yr for UVXY.
Performance
SMDV vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, SMDV achieves a 18.11% return, which is significantly higher than UVXY's -35.24% return. Over the past 10 years, SMDV has outperformed UVXY with an annualized return of 7.53%, while UVXY has yielded a comparatively lower -71.50% annualized return.
SMDV
- 1D
- -0.18%
- 1M
- 0.26%
- 6M
- 10.74%
- YTD
- 18.11%
- 1Y
- 23.79%
- 3Y*
- 10.63%
- 5Y*
- 6.99%
- 10Y*
- 7.53%
- ALL TIME*
- 8.24%
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) |
|---|---|---|---|
| $4.61M | $5.90M | $3.47M | |
| $190.03M | $191.90M | $239.87M |
SMDV vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMDV ProShares Russell 2000 Dividend Growers ETF | 18.11% | 0.26% | 7.03% | 8.99% | -5.90% | 18.98% | -4.74% | 17.23% | -0.58% | 4.63% |
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 SMDV and UVXY is -0.42, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.42 |
Correlation (3Y) Balances recent behavior with more history. | -0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.52 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.51 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2015 | -0.51 |
The correlation between SMDV and UVXY has been stable across timeframes, ranging from -0.52 to -0.42 - a consistent structural relationship.
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Return for Risk
SMDV vs. UVXY — Risk / Return Rank
SMDV
UVXY
SMDV vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dividend Growers ETF (SMDV) 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.
| SMDV | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.26 | ||
| Sortino ratioReturn per unit of downside risk | +3.65 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.85 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | -0.95 | +3.24 |
| Martin ratioReturn relative to average drawdown | 7.27 | -1.35 | +8.62 |
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Drawdowns
SMDV vs. UVXY - Drawdown Comparison
The maximum SMDV drawdown since its inception was -34.12%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SMDV and UVXY.
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Drawdown Indicators
| SMDV | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.12% | -100.00% | +65.88% |
Max Drawdown (1Y)Largest decline over 1 year | -9.79% | -73.88% | +64.09% |
Max Drawdown (3Y)Largest decline over 3 years | -21.23% | -95.42% | +74.19% |
Max Drawdown (5Y)Largest decline over 5 years | -21.23% | -99.68% | +78.45% |
Max Drawdown (10Y)Largest decline over 10 years | -34.12% | -100.00% | +65.88% |
Current DrawdownCurrent decline from peak | -2.36% | -100.00% | +97.64% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -98.76% | +92.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 51.60% | -48.51% |
Volatility
SMDV vs. UVXY - Volatility Comparison
The current volatility for ProShares Russell 2000 Dividend Growers ETF (SMDV) is 4.40%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 22.30%. This indicates that SMDV 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
| SMDV | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 22.30% | -17.90% |
Volatility (6M)Calculated over the trailing 6-month period | 10.24% | 65.55% | -55.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.45% | 87.28% | -71.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.56% | 103.39% | -84.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.75% | 112.09% | -91.34% |
SMDV vs. UVXY - Expense Ratio Comparison
SMDV has a 0.40% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
SMDV vs. UVXY - Dividend Comparison
SMDV's dividend yield for the trailing twelve months is around 2.29%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMDV ProShares Russell 2000 Dividend Growers ETF | 2.29% | 2.67% | 2.68% | 2.69% | 2.51% | 2.02% | 2.13% | 2.03% | 1.97% | 1.84% | 1.35% | 1.81% |
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% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMDV and UVXY have a correlation of -0.42, 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 SMDV (4.40%). In terms of maximum drawdown, SMDV dropped -34.12% vs UVXY's -100.00%.
On 10-year performance, SMDV leads with 7.53% vs -71.50% for UVXY. On fees, SMDV is cheaper at 0.40% per year. On volatility, SMDV has been the lower-risk option at 4.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SMDV has performed better with a 7.53% return vs -71.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMDV is cheaper with a 0.40% expense ratio, compared with 0.95% for UVXY.
SMDV has the higher dividend yield at 2.29%, compared with 0.00% for UVXY.
SMDV is categorized as Small Cap Blend Equities, while UVXY is Volatility. SMDV tracks Russell 2000 Dividend Growth Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 0.40% for SMDV and 0.95% for UVXY.
SMDV currently has the higher Sharpe Ratio (1.46 vs -0.80), 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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