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URE vs. UVXY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

URE vs. UVXY

Last updated Jun 4, 2026

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 2.80%/yr vs -72.67%/yr for UVXY. At a correlation of -0.49, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

URE vs. UVXY - Performance Comparison

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

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Returns By Period

In the year-to-date period, URE achieves a 13.97% return, which is significantly higher than UVXY's -19.06% return. Over the past 10 years, URE has outperformed UVXY with an annualized return of 2.80%, while UVXY has yielded a comparatively lower -72.67% annualized return.

URE

1D
0.12%
1M
-2.94%
YTD
13.97%
6M
11.99%
1Y
8.16%
3Y*
8.96%
5Y*
-4.07%
10Y*
2.80%

UVXY

1D
-0.24%
1M
-22.10%
YTD
-19.06%
6M
-37.37%
1Y
-72.91%
3Y*
-64.55%
5Y*
-67.90%
10Y*
-72.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

URE vs. UVXY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
URE
ProShares Ultra Real Estate		13.97%-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		-19.06%-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 -0.27, 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

-0.27

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 5, 2011

-0.49

Over the past year, the inverse relationship between URE and UVXY has weakened: their correlation has moved from -0.49 to -0.27, meaning they move in opposite directions less often than they have historically.

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ProShares Ultra Real Estate

ProShares Ultra VIX Short-Term Futures ETF

Often compared with URE:
URE vs. DRNURE vs. REZURE vs. XLREURE vs. VOOURE vs. TQQQURE vs. VNQURE vs. SPY
Often compared with UVXY:
UVXY vs. UVIXUVXY vs. VXXUVXY vs. VIXYUVXY vs. SVXYUVXY vs. SQQQUVXY vs. SPYUVXY vs. SPXS

Return for Risk

URE vs. UVXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
URE
URE Risk / Return Rank: 1414
Overall Rank
URE Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
URE Sortino Ratio Rank: 1414
Sortino Ratio Rank
URE Omega Ratio Rank: 1313
Omega Ratio Rank
URE Calmar Ratio Rank: 1515
Calmar Ratio Rank
URE Martin Ratio Rank: 1515
Martin Ratio Rank
UVXY
UVXY Risk / Return Rank: 11
Overall Rank
UVXY Sharpe Ratio Rank: 22
Sharpe Ratio Rank
UVXY Sortino Ratio Rank: 11
Sortino Ratio Rank
UVXY Omega Ratio Rank: 11
Omega Ratio Rank
UVXY Calmar Ratio Rank: 11
Calmar Ratio Rank
UVXY Martin Ratio Rank: 22
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.

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.

UREUVXYDifference
Sharpe ratioReturn per unit of total volatility
0.31
-0.87

+1.17

Sortino ratioReturn per unit of downside risk
0.58
-1.60

+2.19

Omega ratioGain probability vs. loss probability

1.07

0.82

+0.26

Calmar ratioReturn relative to maximum drawdown

0.50

-0.97

+1.47

Martin ratioReturn relative to average drawdown

1.20

-1.31

+2.51

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

URE vs. UVXY - Sharpe Ratio Comparison

The current URE Sharpe Ratio is 0.31, which is higher than the UVXY Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of URE and UVXY, 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

UREUVXYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.31

-0.87

+1.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.11

-0.66

+0.55

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.07

-0.64

+0.71

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.06

-0.68

+0.62

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

UREUVXYDifference

Max Drawdown

Largest peak-to-trough decline

-97.16%

-100.00%

+2.84%

Max Drawdown (1Y)

Largest decline over 1 year

-16.50%

-75.22%

+58.72%

Max Drawdown (3Y)

Largest decline over 3 years

-33.77%

-95.45%

+61.68%

Max Drawdown (5Y)

Largest decline over 5 years

-63.66%

-99.68%

+36.02%

Max Drawdown (10Y)

Largest decline over 10 years

-70.49%

-100.00%

+29.51%

Current Drawdown

Current decline from peak

-52.68%

-100.00%

+47.32%

Average Drawdown

Average peak-to-trough decline

-64.52%

-98.55%

+34.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.83%

55.63%

-48.80%

Volatility

URE vs. UVXY - Volatility Comparison

The current volatility for ProShares Ultra Real Estate (URE) is 7.56%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. 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

UREUVXYDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.56%

11.77%

-4.21%

Volatility (6M)

Calculated over the trailing 6-month period

19.29%

62.64%

-43.35%

Volatility (1Y)

Calculated over the trailing 1-year period

26.73%

84.42%

-57.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

37.28%

103.85%

-66.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

40.53%

113.82%

-73.29%

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 2.05%, while UVXY has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
URE
ProShares Ultra Real Estate		2.05%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 -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UVXY has higher volatility (11.77%) compared to URE (7.56%). In terms of maximum drawdown, URE dropped -97.16% vs UVXY's -100.00%.

On 10-year performance, URE leads with 2.80% vs -72.67% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, URE has been the lower-risk option at 7.56%. 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 2.80% return vs -72.67%. 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 2.05%, 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 (0.31 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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