UDOW vs. VXZ
UDOW (ProShares UltraPro Dow30) is Leveraged Equities fund tracking the Dow Jones Industrial Average (300%), while VXZ (iPath Series B S&P 500® VIX Mid-Term Futures ETN) is a stock. Both are passively managed. Over the past 5 years, UDOW returned 12.75%/yr vs -12.71%/yr for VXZ. At a correlation of -0.61, they often move in opposite directions. UDOW charges 0.95%/yr vs 0.89%/yr for VXZ.
Performance
UDOW vs. VXZ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, UDOW achieves a 12.27% return, which is significantly higher than VXZ's 1.50% return.
UDOW
- 1D
- -3.38%
- 1M
- 10.84%
- YTD
- 12.27%
- 6M
- 12.78%
- 1Y
- 53.13%
- 3Y*
- 33.01%
- 5Y*
- 12.75%
- 10Y*
- 23.30%
VXZ
- 1D
- 0.09%
- 1M
- -2.11%
- YTD
- 1.50%
- 6M
- -2.57%
- 1Y
- -7.63%
- 3Y*
- -12.46%
- 5Y*
- -12.71%
- 10Y*
- —
UDOW vs. VXZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UDOW ProShares UltraPro Dow30 | 12.27% | 24.46% | 28.47% | 32.72% | -32.39% | 65.67% | -17.15% | 75.24% | -34.39% |
VXZ iPath Series B S&P 500® VIX Mid-Term Futures ETN | 1.50% | 5.73% | -12.65% | -43.98% | 0.47% | -16.38% | 72.77% | -20.10% | 31.89% |
Correlation
The correlation between UDOW and VXZ is -0.60, 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 | -0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2018 | -0.61 |
The correlation between UDOW and VXZ has been stable across timeframes, ranging from -0.64 to -0.58 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UDOW vs. VXZ — Risk / Return Rank
UDOW
VXZ
UDOW vs. VXZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Dow30 (UDOW) and iPath Series B S&P 500® VIX Mid-Term Futures ETN (VXZ). 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.
| UDOW | VXZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.88 | ||
| Sortino ratioReturn per unit of downside risk | +2.53 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.95 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | -0.52 | +2.42 |
| Martin ratioReturn relative to average drawdown | 6.75 | -0.90 | +7.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| UDOW | VXZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | -0.40 | +1.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | -0.44 | +0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | -0.08 | +0.61 |
Drawdowns
UDOW vs. VXZ - Drawdown Comparison
The maximum UDOW drawdown since its inception was -80.29%, which is greater than VXZ's maximum drawdown of -69.00%. Use the drawdown chart below to compare losses from any high point for UDOW and VXZ.
Loading charts...
Drawdown Indicators
| UDOW | VXZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.29% | -69.00% | -11.29% |
Max Drawdown (1Y)Largest decline over 1 year | -28.07% | -14.67% | -13.40% |
Max Drawdown (3Y)Largest decline over 3 years | -44.83% | -40.59% | -4.24% |
Max Drawdown (5Y)Largest decline over 5 years | -55.79% | -62.05% | +6.26% |
Max Drawdown (10Y)Largest decline over 10 years | -80.29% | — | — |
Current DrawdownCurrent decline from peak | -3.38% | -64.78% | +61.40% |
Average DrawdownAverage peak-to-trough decline | -14.39% | -36.78% | +22.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.90% | 8.54% | -0.64% |
Volatility
UDOW vs. VXZ - Volatility Comparison
ProShares UltraPro Dow30 (UDOW) has a higher volatility of 8.80% compared to iPath Series B S&P 500® VIX Mid-Term Futures ETN (VXZ) at 3.69%. This indicates that UDOW's price experiences larger fluctuations and is considered to be riskier than VXZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UDOW | VXZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.80% | 3.69% | +5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 27.61% | 13.51% | +14.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.12% | 19.11% | +17.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.19% | 29.16% | +15.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.76% | 34.11% | +17.65% |
UDOW vs. VXZ - Expense Ratio Comparison
UDOW has a 0.95% expense ratio, which is higher than VXZ's 0.89% expense ratio.
Dividends
UDOW vs. VXZ - Dividend Comparison
UDOW's dividend yield for the trailing twelve months is around 1.21%, while VXZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UDOW ProShares UltraPro Dow30 | 1.21% | 1.38% | 0.95% | 0.95% | 0.83% | 0.26% | 0.19% | 0.61% | 0.73% | 0.13% | 0.26% | 0.21% |
VXZ iPath Series B S&P 500® VIX Mid-Term Futures ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UDOW and VXZ have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UDOW has higher volatility (8.80%) compared to VXZ (3.69%). In terms of maximum drawdown, UDOW dropped -80.29% vs VXZ's -69.00%.
UDOW currently has the higher Sharpe Ratio (1.48 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.
Find the right allocation for UDOW and VXZ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer