UGE vs. UVXY
UGE (ProShares Ultra Consumer Goods) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - UGE 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, UGE returned 8.02%/yr vs -71.00%/yr for UVXY. Their -0.47 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
UGE vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, UGE achieves a 17.97% return, which is significantly higher than UVXY's -35.49% return. Over the past 10 years, UGE has outperformed UVXY with an annualized return of 8.02%, while UVXY has yielded a comparatively lower -71.00% annualized return.
UGE
- 1D
- 1.09%
- 1M
- 0.41%
- 6M
- -2.98%
- YTD
- 17.97%
- 1Y
- 9.97%
- 3Y*
- 6.30%
- 5Y*
- -2.42%
- 10Y*
- 8.02%
- ALL TIME*
- 11.27%
UVXY
- 1D
- 1.09%
- 1M
- -6.53%
- 6M
- -36.87%
- YTD
- -35.49%
- 1Y
- -70.28%
- 3Y*
- -63.63%
- 5Y*
- -67.81%
- 10Y*
- -71.00%
- ALL TIME*
- -80.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.04M | $851.07K | $1.08M | |
| $189.58M | $189.56M | $234.35M |
UGE vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UGE ProShares Ultra Consumer Goods | 17.97% | -5.21% | 16.40% | 2.38% | -46.78% | 42.44% | 56.64% | 58.28% | -30.14% | 32.38% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -35.49% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between UGE and UVXY is 0.02, 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. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | -0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.38 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.46 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | -0.47 |
The correlation between UGE and UVXY shifts across timeframes, from -0.47 (all time) to 0.02 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UGE vs. UVXY — Risk / Return Rank
UGE
UVXY
UGE vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Goods (UGE) 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.
| UGE | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.84 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | -0.99 | +1.52 |
| Martin ratioReturn relative to average drawdown | 0.86 | -1.47 | +2.33 |
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Drawdowns
UGE vs. UVXY - Drawdown Comparison
The maximum UGE drawdown since its inception was -71.36%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UGE and UVXY.
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Drawdown Indicators
| UGE | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.36% | -100.00% | +28.64% |
Max Drawdown (1Y)Largest decline over 1 year | -18.95% | -71.36% | +52.41% |
Max Drawdown (3Y)Largest decline over 3 years | -22.81% | -95.42% | +72.61% |
Max Drawdown (5Y)Largest decline over 5 years | -56.55% | -99.68% | +43.13% |
Max Drawdown (10Y)Largest decline over 10 years | -57.14% | -100.00% | +42.86% |
Current DrawdownCurrent decline from peak | -33.35% | -100.00% | +66.65% |
Average DrawdownAverage peak-to-trough decline | -18.86% | -98.76% | +79.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.59% | 47.86% | -36.27% |
Volatility
UGE vs. UVXY - Volatility Comparison
The current volatility for ProShares Ultra Consumer Goods (UGE) is 11.70%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 21.98%. This indicates that UGE 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
| UGE | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.70% | 21.98% | -10.28% |
Volatility (6M)Calculated over the trailing 6-month period | 23.05% | 65.18% | -42.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.29% | 86.32% | -58.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.87% | 103.35% | -71.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.26% | 112.07% | -78.81% |
UGE vs. UVXY - Expense Ratio Comparison
Both UGE and UVXY have an expense ratio of 0.95%.
Dividends
UGE vs. UVXY - Dividend Comparison
UGE's dividend yield for the trailing twelve months is around 2.07%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UGE ProShares Ultra Consumer Goods | 2.07% | 2.54% | 1.43% | 1.20% | 0.74% | 0.20% | 0.41% | 0.86% | 0.76% | 0.68% | 0.76% | 0.60% |
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% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UGE and UVXY have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (21.98%) compared to UGE (11.70%). In terms of maximum drawdown, UGE dropped -71.36% vs UVXY's -100.00%.
On 10-year performance, UGE leads with 8.02% vs -71.00% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, UGE has been the lower-risk option at 11.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UGE has performed better with a 8.02% return vs -71.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGE and UVXY have the same expense ratio: 0.95% per year.
UGE has the higher dividend yield at 2.07%, compared with 0.00% for UVXY.
UGE is categorized as Leveraged Equities, while UVXY is Volatility. UGE tracks Dow Jones U.S. Consumer Goods Index (200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
UGE currently has the higher Sharpe Ratio (0.35 vs -0.82), 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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