UVXY vs. BUFR
UVXY (ProShares Ultra VIX Short-Term Futures ETF) and BUFR (FT Vest Laddered Buffer ETF) are both exchange-traded funds - UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%), while BUFR is a Defined Outcome fund actively managed by First Trust. UVXY is passively managed, while BUFR is actively managed. Over the past 5 years, UVXY returned -67.90%/yr vs 9.98%/yr for BUFR. At a correlation of -0.73, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
UVXY vs. BUFR - Performance Comparison
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Returns By Period
In the year-to-date period, UVXY achieves a -19.06% return, which is significantly lower than BUFR's 6.42% return.
UVXY
- 1D
- -0.24%
- 1M
- -22.10%
- YTD
- -19.06%
- 6M
- -37.37%
- 1Y
- -72.91%
- 3Y*
- -64.55%
- 5Y*
- -67.90%
- 10Y*
- -72.67%
BUFR
- 1D
- -0.21%
- 1M
- 2.16%
- YTD
- 6.42%
- 6M
- 7.11%
- 1Y
- 17.61%
- 3Y*
- 14.50%
- 5Y*
- 9.98%
- 10Y*
- —
UVXY vs. BUFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UVXY ProShares Ultra VIX Short-Term Futures ETF | -19.06% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -53.49% |
BUFR FT Vest Laddered Buffer ETF | 6.42% | 12.44% | 14.68% | 19.63% | -7.57% | 11.88% | 7.57% |
Correlation
The correlation between UVXY and BUFR is -0.79, 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 | -0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2020 | -0.73 |
The correlation between UVXY and BUFR has been stable across timeframes, ranging from -0.79 to -0.73 - a consistent structural relationship.
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Return for Risk
UVXY vs. BUFR — Risk / Return Rank
UVXY
BUFR
UVXY vs. BUFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra VIX Short-Term Futures ETF (UVXY) and FT Vest Laddered Buffer ETF (BUFR). 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 | BUFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.58 | ||
| Sortino ratioReturn per unit of downside risk | -5.55 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.55 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | 3.84 | -4.81 |
| Martin ratioReturn relative to average drawdown | -1.31 | 20.78 | -22.09 |
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
| UVXY | BUFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.87 | 2.71 | -3.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.66 | 0.96 | -1.62 |
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 | 1.07 | -1.75 |
Drawdowns
UVXY vs. BUFR - Drawdown Comparison
The maximum UVXY drawdown since its inception was -100.00%, which is greater than BUFR's maximum drawdown of -13.73%. Use the drawdown chart below to compare losses from any high point for UVXY and BUFR.
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Drawdown Indicators
| UVXY | BUFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -13.73% | -86.27% |
Max Drawdown (1Y)Largest decline over 1 year | -75.22% | -4.61% | -70.61% |
Max Drawdown (3Y)Largest decline over 3 years | -95.45% | -12.81% | -82.64% |
Max Drawdown (5Y)Largest decline over 5 years | -99.68% | -13.73% | -85.95% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.21% | -99.79% |
Average DrawdownAverage peak-to-trough decline | -98.55% | -2.09% | -96.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.63% | 0.85% | +54.78% |
Volatility
UVXY vs. BUFR - Volatility Comparison
ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a higher volatility of 11.77% compared to FT Vest Laddered Buffer ETF (BUFR) at 1.03%. This indicates that UVXY's price experiences larger fluctuations and is considered to be riskier than BUFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UVXY | BUFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.77% | 1.03% | +10.74% |
Volatility (6M)Calculated over the trailing 6-month period | 62.64% | 4.95% | +57.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.42% | 6.53% | +77.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.85% | 10.44% | +93.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 113.82% | 10.23% | +103.59% |
UVXY vs. BUFR - Expense Ratio Comparison
Both UVXY and BUFR have an expense ratio of 0.95%.
Dividends
UVXY vs. BUFR - Dividend Comparison
Neither UVXY nor BUFR has paid dividends to shareholders.
Frequently Asked Questions
UVXY and BUFR have a correlation of -0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (11.77%) compared to BUFR (1.03%). In terms of maximum drawdown, UVXY dropped -100.00% vs BUFR's -13.73%.
On 5-year performance, BUFR leads with 9.98% vs -67.90% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, BUFR has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BUFR has performed better with a 9.98% return vs -67.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UVXY and BUFR have the same expense ratio: 0.95% per year.
UVXY and BUFR have nearly identical dividend yields, around 0.00%.
UVXY is categorized as Volatility, while BUFR is Defined Outcome. They also come from different issuers: ProShares and First Trust.
BUFR currently has the higher Sharpe Ratio (2.71 vs -0.87), 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.
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