UVIX vs. TQQQ
Compare and contrast key facts about Volatility Shares 2x Long VIX Futures ETF (UVIX) and ProShares UltraPro QQQ (TQQQ).
UVIX and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UVIX is a passively managed fund by Volatility Shares that tracks the performance of the Long VIX Futures Index – Benchmark TR Gross (200%). It was launched on Mar 28, 2022. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both UVIX and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UVIX vs. TQQQ - Performance Comparison
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UVIX vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UVIX Volatility Shares 2x Long VIX Futures ETF | 45.01% | -83.21% | -75.24% | -95.28% | -62.08% |
TQQQ ProShares UltraPro QQQ | -17.87% | 34.35% | 58.27% | 198.04% | -71.35% |
Returns By Period
In the year-to-date period, UVIX achieves a 45.01% return, which is significantly higher than TQQQ's -17.87% return.
UVIX
- 1D
- -4.39%
- 1M
- 28.37%
- YTD
- 45.01%
- 6M
- -16.28%
- 1Y
- -77.80%
- 3Y*
- -82.70%
- 5Y*
- —
- 10Y*
- —
TQQQ
- 1D
- 3.72%
- 1M
- -12.88%
- YTD
- -17.87%
- 6M
- -17.28%
- 1Y
- 48.52%
- 3Y*
- 46.87%
- 5Y*
- 13.55%
- 10Y*
- 35.31%
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UVIX vs. TQQQ - Expense Ratio Comparison
UVIX has a 2.78% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Return for Risk
UVIX vs. TQQQ — Risk / Return Rank
UVIX
TQQQ
UVIX vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Long VIX Futures ETF (UVIX) and ProShares UltraPro QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.52 | 0.72 | -1.24 |
Sortino ratioReturn per unit of downside risk | -0.41 | 1.41 | -1.82 |
Omega ratioGain probability vs. loss probability | 0.95 | 1.20 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | -0.83 | 1.41 | -2.23 |
Martin ratioReturn relative to average drawdown | -0.94 | 4.28 | -5.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UVIX | TQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.52 | 0.72 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 0.65 | -1.24 |
Correlation
The correlation between UVIX and TQQQ is -0.69. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
UVIX vs. TQQQ - Dividend Comparison
UVIX has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.73%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
UVIX Volatility Shares 2x Long VIX 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% |
TQQQ ProShares UltraPro QQQ | 0.73% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Drawdowns
UVIX vs. TQQQ - Drawdown Comparison
The maximum UVIX drawdown since its inception was -99.96%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for UVIX and TQQQ.
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Drawdown Indicators
| UVIX | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -81.66% | -18.30% |
Max Drawdown (1Y)Largest decline over 1 year | -94.23% | -36.97% | -57.26% |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.66% | — |
Current DrawdownCurrent decline from peak | -99.94% | -28.08% | -71.86% |
Average DrawdownAverage peak-to-trough decline | -88.03% | -18.66% | -69.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 82.65% | 12.13% | +70.52% |
Volatility
UVIX vs. TQQQ - Volatility Comparison
Volatility Shares 2x Long VIX Futures ETF (UVIX) has a higher volatility of 58.92% compared to ProShares UltraPro QQQ (TQQQ) at 19.74%. This indicates that UVIX's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UVIX | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 58.92% | 19.74% | +39.18% |
Volatility (6M)Calculated over the trailing 6-month period | 94.46% | 38.50% | +55.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 149.69% | 67.35% | +82.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 138.17% | 66.53% | +71.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 138.17% | 65.83% | +72.34% |