SVOL vs. UVXY
SVOL (Simplify Volatility Premium ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both Volatility funds. SVOL is actively managed, while UVXY is passively managed. Over the past 5 years, SVOL returned 6.70%/yr vs -67.90%/yr for UVXY. At a correlation of -0.83, they often move in opposite directions. SVOL charges 0.50%/yr vs 0.95%/yr for UVXY.
Performance
SVOL vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, SVOL achieves a -0.40% return, which is significantly higher than UVXY's -19.06% return.
SVOL
- 1D
- -0.12%
- 1M
- 2.98%
- YTD
- -0.40%
- 6M
- 1.29%
- 1Y
- 10.62%
- 3Y*
- 6.58%
- 5Y*
- 6.70%
- 10Y*
- —
UVXY
- 1D
- -0.24%
- 1M
- -22.10%
- YTD
- -19.06%
- 6M
- -37.37%
- 1Y
- -72.91%
- 3Y*
- -64.55%
- 5Y*
- -67.90%
- 10Y*
- -72.67%
SVOL vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | -0.40% | 2.41% | 6.77% | 22.88% | -3.30% | 12.25% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -19.06% | -65.32% | -50.90% | -87.70% | -44.81% | -76.00% |
Correlation
The correlation between SVOL and UVXY is -0.73, 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 (1Y) Calculated over the trailing 1-year period | -0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.83 |
Correlation (All Time) Calculated using the full available price history since May 14, 2021 | -0.83 |
The correlation between SVOL and UVXY shifts across timeframes, from -0.83 (all time) to -0.73 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SVOL vs. UVXY — Risk / Return Rank
SVOL
UVXY
SVOL vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Volatility Premium ETF (SVOL) 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.
| SVOL | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.45 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.82 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | -0.97 | +1.79 |
| Martin ratioReturn relative to average drawdown | 1.94 | -1.31 | +3.25 |
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
| SVOL | UVXY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | -0.87 | +1.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | -0.66 | +0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.64 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | -0.68 | +1.03 |
Drawdowns
SVOL vs. UVXY - Drawdown Comparison
The maximum SVOL drawdown since its inception was -33.50%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SVOL and UVXY.
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Drawdown Indicators
| SVOL | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -100.00% | +66.50% |
Max Drawdown (1Y)Largest decline over 1 year | -13.01% | -75.22% | +62.21% |
Max Drawdown (3Y)Largest decline over 3 years | -33.50% | -95.45% | +61.95% |
Max Drawdown (5Y)Largest decline over 5 years | -33.50% | -99.68% | +66.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -2.98% | -100.00% | +97.02% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -98.55% | +93.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.49% | 55.63% | -50.14% |
Volatility
SVOL vs. UVXY - Volatility Comparison
The current volatility for Simplify Volatility Premium ETF (SVOL) is 1.41%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. This indicates that SVOL 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
| SVOL | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 11.77% | -10.36% |
Volatility (6M)Calculated over the trailing 6-month period | 9.57% | 62.64% | -53.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.90% | 84.42% | -63.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.99% | 103.85% | -81.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.92% | 113.82% | -91.90% |
SVOL vs. UVXY - Expense Ratio Comparison
SVOL has a 0.50% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
SVOL vs. UVXY - Dividend Comparison
SVOL's dividend yield for the trailing twelve months is around 22.10%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | 22.10% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVOL and UVXY have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (11.77%) compared to SVOL (1.41%). In terms of maximum drawdown, SVOL dropped -33.50% vs UVXY's -100.00%.
On 5-year performance, SVOL leads with 6.70% vs -67.90% for UVXY. On fees, SVOL is cheaper at 0.50% per year. On volatility, SVOL has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SVOL has performed better with a 6.70% return vs -67.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SVOL is cheaper with a 0.50% expense ratio, compared with 0.95% for UVXY.
SVOL has the higher dividend yield at 22.10%, compared with 0.00% for UVXY.
They also come from different issuers: Simplify and ProShares. Their fees differ too: 0.50% for SVOL and 0.95% for UVXY.
SVOL currently has the higher Sharpe Ratio (0.51 vs -0.87), 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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