UCYB vs. CIBR

Last updated Jun 23, 2026

UCYB (ProShares Ultra Nasdaq Cybersecurity) and CIBR (First Trust NASDAQ Cybersecurity ETF) are both exchange-traded funds - UCYB is a Leveraged Equities fund tracking the Nasdaq CTA Cybersecurity Index (200%), while CIBR is a Cybersecurity fund tracking the Nasdaq CTA Cybersecurity Index. Both are passively managed. Over the past 5 years, UCYB returned 11.24%/yr vs 12.73%/yr for CIBR. With a 0.95 correlation, they move nearly in lockstep. UCYB charges 0.97%/yr vs 0.60%/yr for CIBR.

Performance

UCYB vs. CIBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Nasdaq Cybersecurity (UCYB) and First Trust NASDAQ Cybersecurity ETF (CIBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UCYB achieves a 27.17% return, which is significantly higher than CIBR's 17.18% return.

UCYB

• 1D: -2.39%
• 1M: -3.48%
• YTD: 27.17%
• 6M: 20.29%
• 1Y: 20.14%
• 3Y*: 36.00%
• 5Y*: 11.24%
• 10Y*: —

CIBR

• 1D: -1.14%
• 1M: -0.83%
• YTD: 17.18%
• 6M: 14.04%
• 1Y: 16.47%
• 3Y*: 24.43%
• 5Y*: 12.73%
• 10Y*: 17.84%

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

UCYB vs. CIBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UCYB ProShares Ultra Nasdaq Cybersecurity	27.17%	9.41%	28.84%	68.85%	-55.15%	27.53%
CIBR First Trust NASDAQ Cybersecurity ETF	17.18%	13.06%	18.21%	39.71%	-26.46%	15.76%

Correlation

The correlation between UCYB and CIBR is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021	0.95

The correlation between UCYB and CIBR has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.

UCYB vs. CIBR - Sectors Allocation Comparison

Sectors	UCYB	CIBR
Technology	95.1%	95.4%
Industrials	4.8%	2.7%
Communication Services	0.1%	1.9%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

UCYB vs. CIBR — Risk / Return Rank

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

UCYB

UCYB Risk / Return Rank: 15
UCYB Sharpe Ratio Rank: 14
UCYB Sortino Ratio Rank: 17
UCYB Omega Ratio Rank: 17
UCYB Calmar Ratio Rank: 14
UCYB Martin Ratio Rank: 13

CIBR

CIBR Risk / Return Rank: 18
CIBR Sharpe Ratio Rank: 19
CIBR Sortino Ratio Rank: 20
CIBR Omega Ratio Rank: 19
CIBR Calmar Ratio Rank: 18
CIBR Martin Ratio Rank: 17

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.

UCYB vs. CIBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cybersecurity (UCYB) and First Trust NASDAQ Cybersecurity ETF (CIBR). 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.

	UCYB	CIBR	Difference
Sharpe ratio: Return per unit of total volatility	0.40	0.66	-0.26
Sortino ratio: Return per unit of downside risk	0.88	1.06	-0.18
Omega ratio: Gain probability vs. loss probability	1.11	1.13	-0.02
Calmar ratio: Return relative to maximum drawdown	0.47	0.75	-0.28
Martin ratio: Return relative to average drawdown	1.02	1.74	-0.72

UCYB vs. CIBR - Sharpe Ratio Comparison

The current UCYB Sharpe Ratio is 0.40, which is lower than the CIBR Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of UCYB and CIBR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UCYB vs. CIBR - Drawdown Comparison

The maximum UCYB drawdown since its inception was -62.69%, which is greater than CIBR's maximum drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for UCYB and CIBR.

Drawdown Indicators

	UCYB	CIBR	Difference
Max Drawdown Largest peak-to-trough decline	-62.69%	-33.89%	-28.80%
Max Drawdown (1Y) Largest decline over 1 year	-43.04%	-21.99%	-21.05%
Max Drawdown (3Y) Largest decline over 3 years	-43.04%	-21.99%	-21.05%
Max Drawdown (5Y) Largest decline over 5 years	-62.69%	-33.89%	-28.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.89%	—
Current Drawdown Current decline from peak	-22.58%	-11.39%	-11.19%
Average Drawdown Average peak-to-trough decline	-27.39%	-8.66%	-18.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.77%	9.49%	+10.28%

Volatility

UCYB vs. CIBR - Volatility Comparison

ProShares Ultra Nasdaq Cybersecurity (UCYB) has a higher volatility of 24.94% compared to First Trust NASDAQ Cybersecurity ETF (CIBR) at 12.02%. This indicates that UCYB's price experiences larger fluctuations and is considered to be riskier than CIBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCYB	CIBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.94%	12.02%	+12.92%
Volatility (6M) Calculated over the trailing 6-month period	43.79%	21.57%	+22.22%
Volatility (1Y) Calculated over the trailing 1-year period	51.16%	25.25%	+25.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.23%	25.07%	+25.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.76%	23.66%	+26.10%

UCYB vs. CIBR - Expense Ratio Comparison

UCYB has a 0.97% expense ratio, which is higher than CIBR's 0.60% expense ratio.

Dividends

UCYB vs. CIBR - Dividend Comparison

UCYB's dividend yield for the trailing twelve months is around 1.70%, more than CIBR's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIBR First Trust NASDAQ Cybersecurity ETF	0.49%	0.42%	0.29%	0.42%	0.31%	0.59%	1.10%	0.23%	0.23%	0.10%	0.77%	0.58%
UCYB ProShares Ultra Nasdaq Cybersecurity	1.70%	1.90%	2.16%	0.56%	0.00%	0.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UCYB and CIBR in my portfolio?

With a correlation of 0.99, UCYB and CIBR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, UCYB or CIBR?

UCYB has higher volatility (24.94%) compared to CIBR (12.02%). In terms of maximum drawdown, UCYB dropped -62.69% vs CIBR's -33.89%.

Which ETF is better, UCYB or CIBR?

On 5-year performance, CIBR leads with 12.73% vs 11.24% for UCYB. On fees, CIBR is cheaper at 0.60% per year. On volatility, CIBR has been the lower-risk option at 12.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UCYB or CIBR?

Over the 5-year period, CIBR has performed better with a 12.73% return vs 11.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UCYB or CIBR?

CIBR is cheaper with a 0.60% expense ratio, compared with 0.97% for UCYB.

Which ETF pays a higher dividend yield, UCYB or CIBR?

UCYB has the higher dividend yield at 1.70%, compared with 0.49% for CIBR.

What is the main difference between UCYB and CIBR?

UCYB is categorized as Leveraged Equities, while CIBR is Cybersecurity. UCYB tracks Nasdaq CTA Cybersecurity Index (200%), while CIBR tracks Nasdaq CTA Cybersecurity Index. They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.97% for UCYB and 0.60% for CIBR.

Which has better risk-adjusted returns?

CIBR currently has the higher Sharpe Ratio (0.66 vs 0.40), 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.