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UJB vs. SVXY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UJB vs. SVXY

Last updated Jun 4, 2026

UJB (ProShares Ultra High Yield) and SVXY (ProShares Short VIX Short-Term Futures ETF) are both exchange-traded funds - UJB is a Leveraged Bonds fund tracking the Markit iBoxx $ Liquid High Yield Index, while SVXY is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index (-100%). Both are passively managed. Over the past 10 years, UJB returned 6.36%/yr vs -1.59%/yr for SVXY. At a 0.35 correlation, their price movements are largely independent. UJB charges 0.95%/yr vs 1.38%/yr for SVXY.

Performance

UJB vs. SVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra High Yield (UJB) and ProShares Short VIX Short-Term Futures ETF (SVXY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UJB achieves a 0.81% return, which is significantly higher than SVXY's -0.92% return. Over the past 10 years, UJB has outperformed SVXY with an annualized return of 6.36%, while SVXY has yielded a comparatively lower -1.59% annualized return.

UJB

1D
-0.45%
1M
0.33%
YTD
0.81%
6M
1.28%
1Y
8.44%
3Y*
11.49%
5Y*
3.01%
10Y*
6.36%

SVXY

1D
-0.20%
1M
8.44%
YTD
-0.92%
6M
7.55%
1Y
33.37%
3Y*
13.21%
5Y*
15.76%
10Y*
-1.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UJB vs. SVXY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UJB
ProShares Ultra High Yield		0.81%12.22%9.41%17.70%-23.27%6.96%5.19%26.68%-6.08%11.77%
SVXY
ProShares Short VIX Short-Term Futures ETF		-0.92%10.63%-3.17%76.21%-4.66%48.53%-36.47%54.21%-91.75%181.84%

Correlation

The correlation between UJB and SVXY is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.60

Correlation (3Y)
Calculated over the trailing 3-year period

0.57

Correlation (5Y)
Calculated over the trailing 5-year period

0.58

Correlation (10Y)
Calculated over the trailing 10-year period

0.44

Correlation (All Time)
Calculated using the full available price history since Oct 5, 2011

0.35

Over the past year, UJB and SVXY have become more correlated (0.60) than their long-term average of 0.35, meaning their price movements have been converging.

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ProShares Ultra High Yield

ProShares Short VIX Short-Term Futures ETF

Often compared with UJB:
UJB vs. VOOUJB vs. TYDUJB vs. RISRUJB vs. SPYUJB vs. TQQQUJB vs. UPROUJB vs. SPHY
Often compared with SVXY:
SVXY vs. SVIXSVXY vs. UVXYSVXY vs. VXXSVXY vs. SVOLSVXY vs. VIXYSVXY vs. SPYSVXY vs. VIXM

Return for Risk

UJB vs. SVXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UJB
UJB Risk / Return Rank: 3535
Overall Rank
UJB Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
UJB Sortino Ratio Rank: 3232
Sortino Ratio Rank
UJB Omega Ratio Rank: 3232
Omega Ratio Rank
UJB Calmar Ratio Rank: 3434
Calmar Ratio Rank
UJB Martin Ratio Rank: 4444
Martin Ratio Rank
SVXY
SVXY Risk / Return Rank: 3131
Overall Rank
SVXY Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
SVXY Sortino Ratio Rank: 3030
Sortino Ratio Rank
SVXY Omega Ratio Rank: 3434
Omega Ratio Rank
SVXY Calmar Ratio Rank: 2929
Calmar Ratio Rank
SVXY Martin Ratio Rank: 3232
Martin Ratio Rank
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.

UJB vs. SVXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra High Yield (UJB) and ProShares Short VIX Short-Term Futures ETF (SVXY). 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.

UJBSVXYDifference
Sharpe ratioReturn per unit of total volatility
1.16
1.17

-0.01

Sortino ratioReturn per unit of downside risk
1.74
1.64

+0.10

Omega ratioGain probability vs. loss probability

1.22

1.23

-0.01

Calmar ratioReturn relative to maximum drawdown

1.69

1.46

+0.23

Martin ratioReturn relative to average drawdown

7.20

4.78

+2.42

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UJB vs. SVXY - Sharpe Ratio Comparison

The current UJB Sharpe Ratio is 1.16, which is comparable to the SVXY Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of UJB and SVXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

UJBSVXYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.16

1.17

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.21

0.45

-0.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

-0.03

+0.38

Sharpe Ratio (All Time)

Calculated using the full available price history

0.33

0.22

+0.11

Drawdowns

UJB vs. SVXY - Drawdown Comparison

The maximum UJB drawdown since its inception was -40.14%, smaller than the maximum SVXY drawdown of -95.25%. Use the drawdown chart below to compare losses from any high point for UJB and SVXY.

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Drawdown Indicators

UJBSVXYDifference

Max Drawdown

Largest peak-to-trough decline

-40.14%

-95.25%

+55.11%

Max Drawdown (1Y)

Largest decline over 1 year

-5.01%

-22.94%

+17.93%

Max Drawdown (3Y)

Largest decline over 3 years

-9.47%

-46.45%

+36.98%

Max Drawdown (5Y)

Largest decline over 5 years

-30.14%

-46.45%

+16.31%

Max Drawdown (10Y)

Largest decline over 10 years

-40.14%

-95.25%

+55.11%

Current Drawdown

Current decline from peak

-0.85%

-80.15%

+79.30%

Average Drawdown

Average peak-to-trough decline

-6.17%

-56.87%

+50.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.17%

7.00%

-5.83%

Volatility

UJB vs. SVXY - Volatility Comparison

The current volatility for ProShares Ultra High Yield (UJB) is 2.29%, while ProShares Short VIX Short-Term Futures ETF (SVXY) has a volatility of 3.76%. This indicates that UJB experiences smaller price fluctuations and is considered to be less risky than SVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UJBSVXYDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.29%

3.76%

-1.47%

Volatility (6M)

Calculated over the trailing 6-month period

5.76%

21.42%

-15.66%

Volatility (1Y)

Calculated over the trailing 1-year period

7.29%

28.62%

-21.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.67%

35.38%

-20.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.28%

50.75%

-32.47%

UJB vs. SVXY - Expense Ratio Comparison

UJB has a 0.95% expense ratio, which is lower than SVXY's 1.38% expense ratio.

Dividends

UJB vs. SVXY - Dividend Comparison

UJB's dividend yield for the trailing twelve months is around 3.35%, while SVXY has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
SVXY
ProShares Short 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%
UJB
ProShares Ultra High Yield		3.35%2.61%3.02%3.92%0.05%0.63%2.88%3.95%3.22%2.67%2.35%3.62%

Frequently Asked Questions

UJB and SVXY 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.

SVXY has higher volatility (3.76%) compared to UJB (2.29%). In terms of maximum drawdown, UJB dropped -40.14% vs SVXY's -95.25%.

On 10-year performance, UJB leads with 6.36% vs -1.59% for SVXY. On fees, UJB is cheaper at 0.95% per year. On volatility, UJB has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UJB has performed better with a 6.36% return vs -1.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

UJB is cheaper with a 0.95% expense ratio, compared with 1.38% for SVXY.

UJB has the higher dividend yield at 3.35%, compared with 0.00% for SVXY.

UJB is categorized as Leveraged Bonds, while SVXY is Volatility. UJB tracks Markit iBoxx $ Liquid High Yield Index, while SVXY tracks S&P 500 VIX Short-Term Futures Index (-100%). Their fees differ too: 0.95% for UJB and 1.38% for SVXY.

SVXY currently has the higher Sharpe Ratio (1.17 vs 1.16), 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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