TMDV vs. UVXY
TMDV (ProShares Russell U.S. Dividend Growers ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - TMDV is a Mid Cap Value Equities fund tracking the Russell 3000 Dividend Elite 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 5 years, TMDV returned 4.64%/yr vs -68.33%/yr for UVXY. At a correlation of -0.52, they often move in opposite directions. TMDV charges 0.35%/yr vs 0.95%/yr for UVXY.
Performance
TMDV vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, TMDV achieves a 13.77% return, which is significantly higher than UVXY's -34.93% return.
TMDV
- 1D
- 2.64%
- 1M
- 4.38%
- 6M
- 7.36%
- YTD
- 13.77%
- 1Y
- 14.47%
- 3Y*
- 6.81%
- 5Y*
- 4.64%
- 10Y*
- —
UVXY
- 1D
- 2.95%
- 1M
- -9.52%
- 6M
- -33.79%
- YTD
- -34.93%
- 1Y
- -73.19%
- 3Y*
- -62.17%
- 5Y*
- -68.33%
- 10Y*
- -72.05%
TMDV vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TMDV ProShares Russell U.S. Dividend Growers ETF | 13.77% | 2.91% | 2.64% | 2.25% | -5.10% | 23.45% | 4.82% | 2.63% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -34.93% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -31.00% |
Correlation
The correlation between TMDV and UVXY is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.51 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | -0.52 |
Over the past year, the inverse relationship between TMDV and UVXY has weakened: their correlation has moved from -0.52 to -0.32, meaning they move in opposite directions less often than they have historically.
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Return for Risk
TMDV vs. UVXY — Risk / Return Rank
TMDV
UVXY
TMDV vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Russell U.S. Dividend Growers ETF (TMDV) 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.
| TMDV | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.03 | ||
| Sortino ratioReturn per unit of downside risk | +3.44 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.82 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | -0.99 | +2.47 |
| Martin ratioReturn relative to average drawdown | 3.56 | -1.48 | +5.04 |
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Drawdowns
TMDV vs. UVXY - Drawdown Comparison
The maximum TMDV drawdown since its inception was -33.42%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TMDV and UVXY.
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Drawdown Indicators
| TMDV | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.42% | -100.00% | +66.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -73.88% | +64.06% |
Max Drawdown (3Y)Largest decline over 3 years | -16.02% | -95.42% | +79.40% |
Max Drawdown (5Y)Largest decline over 5 years | -17.11% | -99.75% | +82.64% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | 0.00% | -100.00% | +100.00% |
Average DrawdownAverage peak-to-trough decline | -5.37% | -98.76% | +93.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.07% | 49.56% | -45.49% |
Volatility
TMDV vs. UVXY - Volatility Comparison
The current volatility for ProShares Russell U.S. Dividend Growers ETF (TMDV) is 4.68%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 17.16%. This indicates that TMDV 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
| TMDV | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 17.16% | -12.48% |
Volatility (6M)Calculated over the trailing 6-month period | 9.27% | 66.78% | -57.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.38% | 85.47% | -73.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.50% | 103.82% | -89.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.59% | 112.00% | -93.41% |
TMDV vs. UVXY - Expense Ratio Comparison
TMDV has a 0.35% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
TMDV vs. UVXY - Dividend Comparison
TMDV's dividend yield for the trailing twelve months is around 2.47%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TMDV ProShares Russell U.S. Dividend Growers ETF | 2.47% | 2.65% | 2.70% | 2.45% | 2.46% | 2.14% | 2.28% | 0.16% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TMDV and UVXY have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (17.16%) compared to TMDV (4.68%). In terms of maximum drawdown, TMDV dropped -33.42% vs UVXY's -100.00%.
On 5-year performance, TMDV leads with 4.64% vs -68.33% for UVXY. On fees, TMDV is cheaper at 0.35% per year. On volatility, TMDV has been the lower-risk option at 4.68%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TMDV has performed better with a 4.64% return vs -68.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TMDV is cheaper with a 0.35% expense ratio, compared with 0.95% for UVXY.
TMDV has the higher dividend yield at 2.47%, compared with 0.00% for UVXY.
TMDV is categorized as Mid Cap Value Equities, while UVXY is Volatility. TMDV tracks Russell 3000 Dividend Elite Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 0.35% for TMDV and 0.95% for UVXY.
TMDV currently has the higher Sharpe Ratio (1.17 vs -0.86), 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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