UVIX vs. SOLT

Last updated Aug 4, 2026

UVIX (2x Long VIX Futures ETF) and SOLT (2x Solana ETF) are both exchange-traded funds - UVIX is a Volatility fund tracking the Long VIX Futures Index (200% Daily), while SOLT is a Blockchain fund actively managed by Volatility Shares. UVIX is passively managed, while SOLT is actively managed. Over the past year, UVIX returned -86.41% vs -90.39% for SOLT. Their -0.40 correlation means they have often moved in opposite directions in the past. UVIX charges 2.78%/yr vs 1.85%/yr for SOLT.

Performance

UVIX vs. SOLT - Performance Comparison

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

Returns By Period

In the year-to-date period, UVIX achieves a -52.21% return, which is significantly higher than SOLT's -74.81% return.

UVIX

• 1D: -2.05%
• 1M: -11.91%
• 6M: -48.80%
• YTD: -52.21%
• 1Y: -86.41%
• 3Y*: -81.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -83.90%

SOLT

• 1D: 2.98%
• 1M: -17.52%
• 6M: -61.87%
• YTD: -74.81%
• 1Y: -90.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -79.72%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SOLT 2x Solana ETF	$8.77M	$11.20M	$16.38M
UVIX 2x Long VIX Futures ETF	$104.04M	$96.41M	$155.15M

UVIX vs. SOLT - Yearly Performance Comparison

	2026 (YTD)	2025
UVIX 2x Long VIX Futures ETF	-52.21%	-83.52%
SOLT 2x Solana ETF	-74.81%	-55.52%

Correlation

The correlation between UVIX and SOLT is -0.39, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.39
Correlation (All Time) Calculated using the full available price history since Mar 20, 2025	-0.40

Return for Risk

UVIX vs. SOLT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UVIX

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

SOLT

SOLT Risk / Return Rank: 3
SOLT Sharpe Ratio Rank: 4
SOLT Sortino Ratio Rank: 3
SOLT Omega Ratio Rank: 3
SOLT Calmar Ratio Rank: 1
SOLT Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UVIX vs. SOLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 2x Long VIX Futures ETF (UVIX) and 2x Solana ETF (SOLT). 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.

	UVIX	SOLT	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	-0.62	-0.14
Sortino ratio: Return per unit of downside risk	-1.69	-1.22	-0.47
Omega ratio: Gain probability vs. loss probability	0.81	0.87	-0.05
Calmar ratio: Return relative to maximum drawdown	-1.02	-0.94	-0.08
Martin ratio: Return relative to average drawdown	-1.43	-1.17	-0.26

UVIX vs. SOLT - Sharpe Ratio Comparison

The current UVIX Sharpe Ratio is -0.76, which is comparable to the SOLT Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of UVIX and SOLT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UVIX vs. SOLT - Drawdown Comparison

The maximum UVIX drawdown since its inception was -99.98%, roughly equal to the maximum SOLT drawdown of -96.28%. Use the drawdown chart below to compare losses from any high point for UVIX and SOLT.

Drawdown Indicators

	UVIX	SOLT	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-96.28%	-3.70%
Max Drawdown (1Y) Largest decline over 1 year	-84.53%	-96.28%	+11.75%
Max Drawdown (3Y) Largest decline over 3 years	-99.42%	—	—
Current Drawdown Current decline from peak	-99.98%	-95.24%	-4.74%
Average Drawdown Average peak-to-trough decline	-88.87%	-58.18%	-30.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	64.63%	77.22%	-12.59%

Volatility

UVIX vs. SOLT - Volatility Comparison

2x Long VIX Futures ETF (UVIX) has a higher volatility of 28.43% compared to 2x Solana ETF (SOLT) at 21.51%. This indicates that UVIX's price experiences larger fluctuations and is considered to be riskier than SOLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UVIX	SOLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.43%	21.51%	+6.92%
Volatility (6M) Calculated over the trailing 6-month period	85.88%	101.70%	-15.82%
Volatility (1Y) Calculated over the trailing 1-year period	113.77%	145.31%	-31.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	135.10%	148.72%	-13.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	135.10%	148.72%	-13.62%

UVIX vs. SOLT - Expense Ratio Comparison

UVIX has a 2.78% expense ratio, which is higher than SOLT's 1.85% expense ratio.

Dividends

UVIX vs. SOLT - Dividend Comparison

UVIX has not paid dividends to shareholders, while SOLT's dividend yield for the trailing twelve months is around 5.65%.

Position	TTM	2025
SOLT 2x Solana ETF	5.65%	1.22%
UVIX 2x Long VIX Futures ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both UVIX and SOLT in my portfolio?

UVIX and SOLT have a correlation of -0.39, 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 SOLT?

UVIX has higher volatility (28.43%) compared to SOLT (21.51%). In terms of maximum drawdown, UVIX dropped -99.98% vs SOLT's -96.28%.

Which ETF is better, UVIX or SOLT?

On 1-year performance, UVIX leads with -86.41% vs -90.39% for SOLT. On fees, SOLT is cheaper at 1.85% per year. On volatility, SOLT has been the lower-risk option at 21.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UVIX or SOLT?

Over the 1-year period, UVIX has performed better with a -86.41% return vs -90.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UVIX or SOLT?

SOLT is cheaper with a 1.85% expense ratio, compared with 2.78% for UVIX.

Which ETF pays a higher dividend yield, UVIX or SOLT?

SOLT has the higher dividend yield at 5.65%, compared with 0.00% for UVIX.

What is the main difference between UVIX and SOLT?

UVIX is categorized as Volatility, while SOLT is Blockchain. Their fees differ too: 2.78% for UVIX and 1.85% for SOLT.

Which has better risk-adjusted returns?

SOLT currently has the higher Sharpe Ratio (-0.62 vs -0.76), 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.