UJB vs. UVXY
UJB (ProShares Ultra High Yield) and UVXY (ProShares Ultra 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 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, UJB returned 5.51%/yr vs -73.85%/yr for UVXY. At a correlation of -0.37, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
UJB vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, UJB achieves a 1.07% return, which is significantly higher than UVXY's -22.07% return. Over the past 10 years, UJB has outperformed UVXY with an annualized return of 5.51%, while UVXY has yielded a comparatively lower -73.85% annualized return.
UJB
- 1D
- -0.12%
- 1M
- 0.61%
- YTD
- 1.07%
- 6M
- 1.41%
- 1Y
- 7.39%
- 3Y*
- 12.18%
- 5Y*
- 2.81%
- 10Y*
- 5.51%
UVXY
- 1D
- 8.28%
- 1M
- -14.92%
- YTD
- -22.07%
- 6M
- -24.28%
- 1Y
- -74.07%
- 3Y*
- -61.96%
- 5Y*
- -66.90%
- 10Y*
- -73.85%
UJB vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 1.07% | 12.22% | 9.41% | 17.70% | -23.27% | 6.96% | 5.19% | 26.68% | -6.08% | 11.77% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -22.07% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between UJB and UVXY is -0.61, 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 | -0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.46 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | -0.37 |
Over the past year, the inverse relationship between UJB and UVXY has strengthened: their correlation has moved from -0.37 to -0.61, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
UJB vs. UVXY — Risk / Return Rank
UJB
UVXY
UJB vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra High Yield (UJB) 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.
| UJB | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.88 | ||
| Sortino ratioReturn per unit of downside risk | +3.15 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.81 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | -1.01 | +2.49 |
| Martin ratioReturn relative to average drawdown | 6.23 | -1.45 | +7.68 |
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Drawdowns
UJB vs. UVXY - Drawdown Comparison
The maximum UJB drawdown since its inception was -40.14%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UJB and UVXY.
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Drawdown Indicators
| UJB | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.14% | -100.00% | +59.86% |
Max Drawdown (1Y)Largest decline over 1 year | -5.01% | -73.51% | +68.50% |
Max Drawdown (3Y)Largest decline over 3 years | -9.47% | -94.93% | +85.46% |
Max Drawdown (5Y)Largest decline over 5 years | -30.14% | -99.71% | +69.57% |
Max Drawdown (10Y)Largest decline over 10 years | -40.14% | -100.00% | +59.86% |
Current DrawdownCurrent decline from peak | -0.59% | -100.00% | +99.41% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -98.75% | +92.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 55.34% | -54.15% |
Volatility
UJB vs. UVXY - Volatility Comparison
The current volatility for ProShares Ultra High Yield (UJB) is 1.96%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 25.85%. This indicates that UJB 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
| UJB | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 25.85% | -23.89% |
Volatility (6M)Calculated over the trailing 6-month period | 5.90% | 66.46% | -60.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.37% | 85.46% | -78.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 103.96% | -89.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 112.39% | -94.37% |
UJB vs. UVXY - Expense Ratio Comparison
Both UJB and UVXY have an expense ratio of 0.95%.
Dividends
UJB vs. UVXY - Dividend Comparison
UJB's dividend yield for the trailing twelve months is around 3.34%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UJB ProShares Ultra High Yield | 3.34% | 2.61% | 3.02% | 3.92% | 0.05% | 0.63% | 2.88% | 3.95% | 3.22% | 2.67% | 2.35% | 3.62% |
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
UJB and UVXY have a correlation of -0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (25.85%) compared to UJB (1.96%). In terms of maximum drawdown, UJB dropped -40.14% vs UVXY's -100.00%.
On 10-year performance, UJB leads with 5.51% vs -73.85% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, UJB has been the lower-risk option at 1.96%. 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 5.51% return vs -73.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UJB and UVXY have the same expense ratio: 0.95% per year.
UJB has the higher dividend yield at 3.34%, compared with 0.00% for UVXY.
UJB is categorized as Leveraged Bonds, while UVXY is Volatility. UJB tracks Markit iBoxx $ Liquid High Yield Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
UJB currently has the higher Sharpe Ratio (1.01 vs -0.87), 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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