URE vs. UVXY
URE (ProShares Ultra Real Estate) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - URE is a REIT fund tracking the Dow Jones U.S. Real Estate 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, URE returned 3.29%/yr vs -73.85%/yr for UVXY. At a correlation of -0.48, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
URE vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, URE achieves a 21.30% return, which is significantly higher than UVXY's -22.07% return. Over the past 10 years, URE has outperformed UVXY with an annualized return of 3.29%, while UVXY has yielded a comparatively lower -73.85% annualized return.
URE
- 1D
- 2.89%
- 1M
- 1.25%
- YTD
- 21.30%
- 6M
- 22.37%
- 1Y
- 11.16%
- 3Y*
- 12.71%
- 5Y*
- -2.86%
- 10Y*
- 3.29%
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%
URE vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
URE ProShares Ultra Real Estate | 21.30% | -3.65% | 0.35% | 11.58% | -49.64% | 88.24% | -28.06% | 57.86% | -13.80% | 16.56% |
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 URE and UVXY is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.43 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | -0.48 |
Over the past year, the inverse relationship between URE and UVXY has weakened: their correlation has moved from -0.48 to -0.23, meaning they move in opposite directions less often than they have historically.
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Return for Risk
URE vs. UVXY — Risk / Return Rank
URE
UVXY
URE vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Real Estate (URE) 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.
| URE | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.81 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | -1.01 | +1.69 |
| Martin ratioReturn relative to average drawdown | 1.63 | -1.45 | +3.08 |
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Drawdowns
URE vs. UVXY - Drawdown Comparison
The maximum URE drawdown since its inception was -97.16%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for URE and UVXY.
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Drawdown Indicators
| URE | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.16% | -100.00% | +2.84% |
Max Drawdown (1Y)Largest decline over 1 year | -16.50% | -73.51% | +57.01% |
Max Drawdown (3Y)Largest decline over 3 years | -33.77% | -94.93% | +61.16% |
Max Drawdown (5Y)Largest decline over 5 years | -63.66% | -99.71% | +36.05% |
Max Drawdown (10Y)Largest decline over 10 years | -70.49% | -100.00% | +29.51% |
Current DrawdownCurrent decline from peak | -49.63% | -100.00% | +50.37% |
Average DrawdownAverage peak-to-trough decline | -64.47% | -98.75% | +34.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.86% | 55.34% | -48.48% |
Volatility
URE vs. UVXY - Volatility Comparison
The current volatility for ProShares Ultra Real Estate (URE) is 10.65%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 25.85%. This indicates that URE 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
| URE | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.65% | 25.85% | -15.20% |
Volatility (6M)Calculated over the trailing 6-month period | 21.26% | 66.46% | -45.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.21% | 85.46% | -57.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.44% | 103.96% | -66.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.64% | 112.39% | -71.75% |
URE vs. UVXY - Expense Ratio Comparison
Both URE and UVXY have an expense ratio of 0.95%.
Dividends
URE vs. UVXY - Dividend Comparison
URE's dividend yield for the trailing twelve months is around 1.93%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
URE ProShares Ultra Real Estate | 1.93% | 2.42% | 2.09% | 1.32% | 1.26% | 0.58% | 0.94% | 1.10% | 1.53% | 0.93% | 0.96% | 0.81% |
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
URE and UVXY have a correlation of -0.23, 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 URE (10.65%). In terms of maximum drawdown, URE dropped -97.16% vs UVXY's -100.00%.
On 10-year performance, URE leads with 3.29% vs -73.85% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, URE has been the lower-risk option at 10.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, URE has performed better with a 3.29% return vs -73.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
URE and UVXY have the same expense ratio: 0.95% per year.
URE has the higher dividend yield at 1.93%, compared with 0.00% for UVXY.
URE is categorized as REIT, while UVXY is Volatility. URE tracks Dow Jones U.S. Real Estate Index (200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
URE currently has the higher Sharpe Ratio (0.40 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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