UVIX vs. NBIS

Last updated Jun 9, 2026

UVIX (2x Long VIX Futures ETF) is Volatility fund tracking the Long VIX Futures Index (200% Daily), while NBIS (Nebius Group N.V.) is a stock. Over the past year, UVIX returned -84.55% vs 351.53% for NBIS. At a correlation of -0.35, they often move in opposite directions.

Performance

UVIX vs. NBIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 2x Long VIX Futures ETF (UVIX) and Nebius Group N.V. (NBIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UVIX achieves a -29.77% return, which is significantly lower than NBIS's 160.44% return.

UVIX

• 1D: -3.37%
• 1M: -23.18%
• YTD: -29.77%
• 6M: -49.30%
• 1Y: -84.55%
• 3Y*: -81.05%
• 5Y*: —
• 10Y*: —

NBIS

• 1D: -4.31%
• 1M: 23.13%
• YTD: 160.44%
• 6M: 117.28%
• 1Y: 351.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UVIX vs. NBIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UVIX 2x Long VIX Futures ETF	-29.77%	-83.21%	-33.98%
NBIS Nebius Group N.V.	160.44%	202.18%	46.25%

Correlation

The correlation between UVIX and NBIS is -0.30, 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	-0.30
Correlation (All Time) Calculated using the full available price history since Oct 18, 2024	-0.35

Return for Risk

UVIX vs. NBIS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UVIX

UVIX Risk / Return Rank: 2
UVIX Sharpe Ratio Rank: 3
UVIX Sortino Ratio Rank: 1
UVIX Omega Ratio Rank: 1
UVIX Calmar Ratio Rank: 0
UVIX Martin Ratio Rank: 3

NBIS

NBIS Risk / Return Rank: 94
NBIS Sharpe Ratio Rank: 96
NBIS Sortino Ratio Rank: 94
NBIS Omega Ratio Rank: 90
NBIS Calmar Ratio Rank: 96
NBIS Martin Ratio Rank: 95

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.

UVIX vs. NBIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 2x Long VIX Futures ETF (UVIX) and Nebius Group N.V. (NBIS). 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.

	UVIX	NBIS	Difference
Sharpe ratio: Return per unit of total volatility	-0.75	3.39	-4.14
Sortino ratio: Return per unit of downside risk	-1.58	3.71	-5.28
Omega ratio: Gain probability vs. loss probability	0.82	1.41	-0.59
Calmar ratio: Return relative to maximum drawdown	-0.96	7.79	-8.75
Martin ratio: Return relative to average drawdown	-1.23	17.86	-19.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UVIX vs. NBIS - Sharpe Ratio Comparison

The current UVIX Sharpe Ratio is -0.75, which is lower than the NBIS Sharpe Ratio of 3.39. The chart below compares the historical Sharpe Ratios of UVIX and NBIS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UVIX	NBIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.75	3.39	-4.14
Sharpe Ratio (All Time) Calculated using the full available price history	-0.61	3.19	-3.80

Drawdowns

UVIX vs. NBIS - Drawdown Comparison

The maximum UVIX drawdown since its inception was -99.97%, which is greater than NBIS's maximum drawdown of -58.27%. Use the drawdown chart below to compare losses from any high point for UVIX and NBIS.

Drawdown Indicators

	UVIX	NBIS	Difference
Max Drawdown Largest peak-to-trough decline	-99.97%	-58.27%	-41.70%
Max Drawdown (1Y) Largest decline over 1 year	-88.01%	-45.47%	-42.54%
Max Drawdown (3Y) Largest decline over 3 years	-99.39%	—	—
Current Drawdown Current decline from peak	-99.97%	-17.58%	-82.39%
Average Drawdown Average peak-to-trough decline	-88.56%	-19.02%	-69.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	68.43%	19.79%	+48.64%

Volatility

UVIX vs. NBIS - Volatility Comparison

The current volatility for 2x Long VIX Futures ETF (UVIX) is 22.21%, while Nebius Group N.V. (NBIS) has a volatility of 33.60%. This indicates that UVIX experiences smaller price fluctuations and is considered to be less risky than NBIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UVIX	NBIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.21%	33.60%	-11.39%
Volatility (6M) Calculated over the trailing 6-month period	83.76%	71.53%	+12.23%
Volatility (1Y) Calculated over the trailing 1-year period	112.55%	104.78%	+7.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	136.19%	110.72%	+25.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	136.19%	110.72%	+25.47%

Dividends

UVIX vs. NBIS - Dividend Comparison

Neither UVIX nor NBIS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UVIX and NBIS in my portfolio?

UVIX and NBIS have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UVIX or NBIS?

NBIS has higher volatility (33.60%) compared to UVIX (22.21%). In terms of maximum drawdown, UVIX dropped -99.97% vs NBIS's -58.27%.

Which has better risk-adjusted returns?

NBIS currently has the higher Sharpe Ratio (3.39 vs -0.75), 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.