SZK vs. UVXY
SZK (ProShares UltraShort Consumer Goods) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - SZK is a Leveraged Equities fund tracking the Dow Jones U.S. Consumer Goods Index (-200%), 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, SZK returned -16.27%/yr vs -71.14%/yr for UVXY. Their 0.43 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
SZK vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, SZK achieves a -18.22% return, which is significantly higher than UVXY's -38.60% return. Over the past 10 years, SZK has outperformed UVXY with an annualized return of -16.27%, while UVXY has yielded a comparatively lower -71.14% annualized return.
SZK
- 1D
- -0.26%
- 1M
- -3.10%
- 6M
- 2.45%
- YTD
- -18.22%
- 1Y
- -11.75%
- 3Y*
- -6.63%
- 5Y*
- -4.12%
- 10Y*
- -16.27%
- ALL TIME*
- -19.52%
UVXY
- 1D
- -4.83%
- 1M
- -7.27%
- 6M
- -41.44%
- YTD
- -38.60%
- 1Y
- -72.18%
- 3Y*
- -64.22%
- 5Y*
- -67.88%
- 10Y*
- -71.14%
- ALL TIME*
- -80.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $56.40K | $61.28K | $43.80K | |
| $192.80M | $190.57M | $230.93M |
SZK vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | -18.22% | 3.37% | -11.33% | -3.10% | 47.20% | -37.78% | -58.24% | -39.43% | 33.62% | -27.22% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -38.60% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between SZK and UVXY is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.38 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.43 |
The correlation between SZK and UVXY shifts across timeframes, from -0.00 (1 year) to 0.45 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SZK vs. UVXY — Risk / Return Rank
SZK
UVXY
SZK vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) 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.
| SZK | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.83 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | -1.02 | +0.62 |
| Martin ratioReturn relative to average drawdown | -0.77 | -1.56 | +0.80 |
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Drawdowns
SZK vs. UVXY - Drawdown Comparison
The maximum SZK drawdown since its inception was -99.40%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SZK and UVXY.
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Drawdown Indicators
| SZK | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -100.00% | +0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -29.26% | -71.05% | +41.79% |
Max Drawdown (3Y)Largest decline over 3 years | -41.81% | -95.55% | +53.74% |
Max Drawdown (5Y)Largest decline over 5 years | -41.81% | -99.69% | +57.88% |
Max Drawdown (10Y)Largest decline over 10 years | -86.78% | -100.00% | +13.22% |
Current DrawdownCurrent decline from peak | -99.31% | -100.00% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -82.13% | -98.76% | +16.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.39% | 48.08% | -32.69% |
Volatility
SZK vs. UVXY - Volatility Comparison
The current volatility for ProShares UltraShort Consumer Goods (SZK) is 11.39%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 22.42%. This indicates that SZK 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
| SZK | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.39% | 22.42% | -11.03% |
Volatility (6M)Calculated over the trailing 6-month period | 22.80% | 65.04% | -42.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.20% | 85.86% | -57.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.97% | 103.36% | -71.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.77% | 112.06% | -78.29% |
SZK vs. UVXY - Expense Ratio Comparison
Both SZK and UVXY have an expense ratio of 0.95%.
Dividends
SZK vs. UVXY - Dividend Comparison
SZK's dividend yield for the trailing twelve months is around 2.81%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | 2.81% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% |
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% |
Frequently Asked Questions
SZK and UVXY have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (22.42%) compared to SZK (11.39%). In terms of maximum drawdown, SZK dropped -99.40% vs UVXY's -100.00%.
On 10-year performance, SZK leads with -16.27% vs -71.14% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, SZK has been the lower-risk option at 11.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SZK has performed better with a -16.27% return vs -71.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SZK and UVXY have the same expense ratio: 0.95% per year.
SZK has the higher dividend yield at 2.81%, compared with 0.00% for UVXY.
SZK is categorized as Leveraged Equities, while UVXY is Volatility. SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
SZK currently has the higher Sharpe Ratio (-0.42 vs -0.84), 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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