UVXY vs. BCH-USD

Last updated Jun 5, 2026

UVXY (ProShares Ultra VIX Short-Term Futures ETF) is Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%), while BCH-USD (Bitcoin Cash) is a cryptocurrency. Over the past 5 years, UVXY returned -68.23%/yr vs -17.86%/yr for BCH-USD. At a correlation of -0.16, they often move in opposite directions.

Performance

UVXY vs. BCH-USD - Performance Comparison

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

Returns By Period

In the year-to-date period, UVXY achieves a -23.07% return, which is significantly higher than BCH-USD's -59.43% return.

UVXY

• 1D: -4.95%
• 1M: -26.21%
• YTD: -23.07%
• 6M: -39.47%
• 1Y: -74.10%
• 3Y*: -64.78%
• 5Y*: -68.23%
• 10Y*: -72.73%

BCH-USD

• 1D: -0.09%
• 1M: -47.35%
• YTD: -59.43%
• 6M: -57.75%
• 1Y: -39.36%
• 3Y*: 30.71%
• 5Y*: -17.86%
• 10Y*: —

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

UVXY vs. BCH-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UVXY ProShares Ultra VIX Short-Term Futures ETF	-23.07%	-65.32%	-50.90%	-87.70%	-44.81%	-88.33%	-17.38%	-84.23%	60.10%	-65.73%
BCH-USD Bitcoin Cash	-59.43%	38.15%	66.88%	167.70%	-77.45%	25.69%	68.04%	37.94%	-93.76%	329.48%

Correlation

The correlation between UVXY and BCH-USD is -0.24, 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	-0.24
Correlation (3Y) Calculated over the trailing 3-year period	-0.20
Correlation (5Y) Calculated over the trailing 5-year period	-0.22
Correlation (All Time) Calculated using the full available price history since Jul 23, 2017	-0.16

Return for Risk

UVXY vs. BCH-USD — Risk / Return Rank

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

UVXY

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

BCH-USD

BCH-USD Risk / Return Rank: 48
BCH-USD Sharpe Ratio Rank: 57
BCH-USD Sortino Ratio Rank: 59
BCH-USD Omega Ratio Rank: 59
BCH-USD Calmar Ratio Rank: 65
BCH-USD Martin Ratio Rank: 1

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.

UVXY vs. BCH-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra VIX Short-Term Futures ETF (UVXY) and Bitcoin Cash (BCH-USD). 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.

	UVXY	BCH-USD	Difference
Sharpe ratio: Return per unit of total volatility	-0.88	-0.59	-0.29
Sortino ratio: Return per unit of downside risk	-1.67	-0.59	-1.08
Omega ratio: Gain probability vs. loss probability	0.81	0.94	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.97	-0.63	-0.35
Martin ratio: Return relative to average drawdown	-1.33	-1.88	+0.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UVXY vs. BCH-USD - Sharpe Ratio Comparison

The current UVXY Sharpe Ratio is -0.88, which is lower than the BCH-USD Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of UVXY and BCH-USD, 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

	UVXY	BCH-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.88	-0.59	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.66	-0.21	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.68	-0.07	-0.60

Drawdowns

UVXY vs. BCH-USD - Drawdown Comparison

The maximum UVXY drawdown since its inception was -100.00%, roughly equal to the maximum BCH-USD drawdown of -97.96%. Use the drawdown chart below to compare losses from any high point for UVXY and BCH-USD.

Drawdown Indicators

	UVXY	BCH-USD	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-97.96%	-2.04%
Max Drawdown (1Y) Largest decline over 1 year	-76.19%	-62.87%	-13.32%
Max Drawdown (3Y) Largest decline over 3 years	-95.25%	-65.01%	-30.24%
Max Drawdown (5Y) Largest decline over 5 years	-99.69%	-88.64%	-11.05%
Max Drawdown (10Y) Largest decline over 10 years	-100.00%	—	—
Current Drawdown Current decline from peak	-100.00%	-93.52%	-6.48%
Average Drawdown Average peak-to-trough decline	-98.55%	-86.07%	-12.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.83%	24.52%	+31.31%

Volatility

UVXY vs. BCH-USD - Volatility Comparison

The current volatility for ProShares Ultra VIX Short-Term Futures ETF (UVXY) is 12.26%, while Bitcoin Cash (BCH-USD) has a volatility of 18.47%. This indicates that UVXY experiences smaller price fluctuations and is considered to be less risky than BCH-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UVXY	BCH-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.26%	18.47%	-6.21%
Volatility (6M) Calculated over the trailing 6-month period	62.79%	46.38%	+16.41%
Volatility (1Y) Calculated over the trailing 1-year period	84.51%	55.74%	+28.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	103.82%	69.96%	+33.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	113.81%	97.87%	+15.94%

Frequently Asked Questions

Can I hold both UVXY and BCH-USD in my portfolio?

UVXY and BCH-USD have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UVXY or BCH-USD?

BCH-USD has higher volatility (18.47%) compared to UVXY (12.26%). In terms of maximum drawdown, UVXY dropped -100.00% vs BCH-USD's -97.96%.

Which has better risk-adjusted returns?

BCH-USD currently has the higher Sharpe Ratio (-0.59 vs -0.88), 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.