SRTY vs. UVXY
SRTY (ProShares UltraPro Short Russell2000) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - SRTY is a Leveraged Equities fund tracking the Russell 2000 Index (-300%), 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, SRTY returned -44.65%/yr vs -73.85%/yr for UVXY. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
SRTY vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, SRTY achieves a -46.00% return, which is significantly lower than UVXY's -22.07% return. Over the past 10 years, SRTY has outperformed UVXY with an annualized return of -44.65%, while UVXY has yielded a comparatively lower -73.85% annualized return.
SRTY
- 1D
- 2.94%
- 1M
- -11.85%
- YTD
- -46.00%
- 6M
- -41.91%
- 1Y
- -67.40%
- 3Y*
- -47.20%
- 5Y*
- -31.09%
- 10Y*
- -44.65%
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%
SRTY vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRTY ProShares UltraPro Short Russell2000 | -46.00% | -40.55% | -32.91% | -42.02% | 28.99% | -51.67% | -80.61% | -53.83% | 23.37% | -38.31% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -22.07% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between SRTY and UVXY is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.69 |
The correlation between SRTY and UVXY has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.
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Return for Risk
SRTY vs. UVXY — Risk / Return Rank
SRTY
UVXY
SRTY vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Russell2000 (SRTY) 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.
| SRTY | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.81 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -1.01 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.56 | -1.45 | -0.10 |
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Drawdowns
SRTY vs. UVXY - Drawdown Comparison
The maximum SRTY drawdown since its inception was -100.00%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SRTY and UVXY.
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Drawdown Indicators
| SRTY | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -68.17% | -73.51% | +5.34% |
Max Drawdown (3Y)Largest decline over 3 years | -89.46% | -94.93% | +5.47% |
Max Drawdown (5Y)Largest decline over 5 years | -91.87% | -99.71% | +7.84% |
Max Drawdown (10Y)Largest decline over 10 years | -99.76% | -100.00% | +0.24% |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -94.14% | -98.75% | +4.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.57% | 55.34% | -11.77% |
Volatility
SRTY vs. UVXY - Volatility Comparison
The current volatility for ProShares UltraPro Short Russell2000 (SRTY) is 19.61%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 25.85%. This indicates that SRTY 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
| SRTY | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.61% | 25.85% | -6.24% |
Volatility (6M)Calculated over the trailing 6-month period | 43.09% | 66.46% | -23.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.89% | 85.46% | -26.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.68% | 103.96% | -36.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.42% | 112.39% | -43.97% |
SRTY vs. UVXY - Expense Ratio Comparison
Both SRTY and UVXY have an expense ratio of 0.95%.
Dividends
SRTY vs. UVXY - Dividend Comparison
SRTY's dividend yield for the trailing twelve months is around 10.12%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SRTY ProShares UltraPro Short Russell2000 | 10.12% | 6.87% | 9.40% | 4.93% | 0.17% | 0.00% | 0.95% | 2.13% | 0.70% | 0.04% |
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% |
Frequently Asked Questions
SRTY and UVXY have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (25.85%) compared to SRTY (19.61%). In terms of maximum drawdown, SRTY dropped -100.00% vs UVXY's -100.00%.
On 10-year performance, SRTY leads with -44.65% vs -73.85% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, SRTY has been the lower-risk option at 19.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SRTY has performed better with a -44.65% return vs -73.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SRTY and UVXY have the same expense ratio: 0.95% per year.
SRTY has the higher dividend yield at 10.12%, compared with 0.00% for UVXY.
SRTY is categorized as Leveraged Equities, while UVXY is Volatility. SRTY tracks Russell 2000 Index (-300%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
UVXY currently has the higher Sharpe Ratio (-0.87 vs -1.15), 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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