UVIX vs. UVXY
Compare and contrast key facts about Volatility Shares 2x Long VIX Futures ETF (UVIX) and ProShares Ultra VIX Short-Term Futures ETF (UVXY).
UVIX and UVXY 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. UVXY is a passively managed fund by ProShares that tracks the performance of the S&P 500 VIX SHORT-TERM FUTURES TR (150%). It was launched on Oct 3, 2011. Both UVIX and UVXY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: UVIX or UVXY.
Key characteristics
| UVIX | UVXY | |
|---|---|---|
| YTD Return | -75.16% | -52.56% |
| 1Y Return | -84.89% | -66.80% |
| Sharpe Ratio | -0.56 | -0.61 |
| Sortino Ratio | -1.05 | -0.91 |
| Omega Ratio | 0.88 | 0.90 |
| Calmar Ratio | -0.85 | -0.67 |
| Martin Ratio | -1.34 | -1.38 |
| Ulcer Index | 63.59% | 48.86% |
| Daily Std Dev | 151.36% | 110.14% |
| Max Drawdown | -99.74% | -100.00% |
| Current Drawdown | -99.74% | -100.00% |
Correlation
The correlation between UVIX and UVXY is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
UVIX vs. UVXY - Performance Comparison
In the year-to-date period, UVIX achieves a -75.16% return, which is significantly lower than UVXY's -52.56% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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UVIX vs. UVXY - Expense Ratio Comparison
UVIX has a 2.78% expense ratio, which is higher than UVXY's 0.95% expense ratio.
Risk-Adjusted Performance
UVIX vs. UVXY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Long VIX Futures ETF (UVIX) 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.
Dividends
UVIX vs. UVXY - Dividend Comparison
Neither UVIX nor UVXY has paid dividends to shareholders.
Drawdowns
UVIX vs. UVXY - Drawdown Comparison
The maximum UVIX drawdown since its inception was -99.74%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UVIX and UVXY. For additional features, visit the drawdowns tool.
Volatility
UVIX vs. UVXY - Volatility Comparison
Volatility Shares 2x Long VIX Futures ETF (UVIX) has a higher volatility of 35.48% compared to ProShares Ultra VIX Short-Term Futures ETF (UVXY) at 26.62%. This indicates that UVIX's price experiences larger fluctuations and is considered to be riskier than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.