SVXY vs. TERG

Last updated Jun 4, 2026

SVXY (ProShares Short VIX Short-Term Futures ETF) and TERG (Leverage Shares 2X Long TER Daily ETF) are both exchange-traded funds - SVXY is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index (-100%), while TERG is a Leveraged Equities fund actively managed by Leverage Shares. SVXY is passively managed, while TERG is actively managed. At a 0.44 correlation, their price movements are largely independent. SVXY charges 1.38%/yr vs 0.75%/yr for TERG.

Performance

SVXY vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short VIX Short-Term Futures ETF (SVXY) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVXY achieves a -0.92% return, which is significantly lower than TERG's 229.64% return.

SVXY

• 1D: -0.20%
• 1M: 8.44%
• YTD: -0.92%
• 6M: 7.55%
• 1Y: 33.37%
• 3Y*: 13.21%
• 5Y*: 15.76%
• 10Y*: -1.59%

TERG

• 1D: 8.49%
• 1M: 39.95%
• YTD: 229.64%
• 6M: 218.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SVXY vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
SVXY ProShares Short VIX Short-Term Futures ETF	-0.92%	16.47%
TERG Leverage Shares 2X Long TER Daily ETF	229.64%	28.17%

Correlation

The correlation between SVXY and TERG is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.44

Return for Risk

SVXY vs. TERG — Risk / Return Rank

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

SVXY

SVXY Risk / Return Rank: 31
SVXY Sharpe Ratio Rank: 32
SVXY Sortino Ratio Rank: 30
SVXY Omega Ratio Rank: 34
SVXY Calmar Ratio Rank: 29
SVXY Martin Ratio Rank: 32

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.

SVXY vs. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short VIX Short-Term Futures ETF (SVXY) and Leverage Shares 2X Long TER Daily ETF (TERG). 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.

	SVXY	TERG	Difference
Sharpe ratio: Return per unit of total volatility	1.17	—	—
Sortino ratio: Return per unit of downside risk	1.64	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.46	—	—
Martin ratio: Return relative to average drawdown	4.78	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SVXY	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	9.90	-9.68

Drawdowns

SVXY vs. TERG - Drawdown Comparison

The maximum SVXY drawdown since its inception was -95.25%, which is greater than TERG's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for SVXY and TERG.

Drawdown Indicators

	SVXY	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-95.25%	-49.52%	-45.73%
Max Drawdown (1Y) Largest decline over 1 year	-22.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-46.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-46.45%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-95.25%	—	—
Current Drawdown Current decline from peak	-80.15%	-15.98%	-64.17%
Average Drawdown Average peak-to-trough decline	-56.87%	-13.73%	-43.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.00%	—	—

Volatility

Volatility by Period

	SVXY	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.62%	139.25%	-110.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.38%	139.25%	-103.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.75%	139.25%	-88.50%

SVXY vs. TERG - Expense Ratio Comparison

SVXY has a 1.38% expense ratio, which is higher than TERG's 0.75% expense ratio.

Dividends

SVXY vs. TERG - Dividend Comparison

Neither SVXY nor TERG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SVXY and TERG in my portfolio?

SVXY and TERG have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SVXY or TERG?

On fees, TERG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SVXY or TERG?

TERG is cheaper with a 0.75% expense ratio, compared with 1.38% for SVXY.

Which ETF pays a higher dividend yield, SVXY or TERG?

SVXY and TERG have nearly identical dividend yields, around 0.00%.

What is the main difference between SVXY and TERG?

SVXY is categorized as Volatility, while TERG is Leveraged Equities. They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 1.38% for SVXY and 0.75% for TERG.