UVXY vs. FEBT
UVXY (ProShares Ultra VIX Short-Term Futures ETF) and FEBT (Allianzim U.S. Large Cap Buffer10 Feb ETF) are both exchange-traded funds - UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%), while FEBT is a Options Trading fund actively managed by Allianz. UVXY is passively managed, while FEBT is actively managed. Over the past 3 years, UVXY returned -63.63%/yr vs 15.81%/yr for FEBT. Their -0.75 correlation means they have often moved in opposite directions in the past. UVXY charges 0.95%/yr vs 0.74%/yr for FEBT.
Performance
UVXY vs. FEBT - Performance Comparison
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Returns By Period
In the year-to-date period, UVXY achieves a -35.49% return, which is significantly lower than FEBT's 10.09% return.
UVXY
- 1D
- 1.09%
- 1M
- -6.53%
- 6M
- -36.87%
- YTD
- -35.49%
- 1Y
- -70.28%
- 3Y*
- -63.63%
- 5Y*
- -67.81%
- 10Y*
- -71.00%
- ALL TIME*
- -80.16%
FEBT
- 1D
- 0.78%
- 1M
- 2.15%
- 6M
- 7.94%
- YTD
- 10.09%
- 1Y
- 17.63%
- 3Y*
- 15.81%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $321.44K | $318.72K | $510.89K | |
| $189.58M | $189.56M | $234.35M |
UVXY vs. FEBT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UVXY ProShares Ultra VIX Short-Term Futures ETF | -35.49% | -65.32% | -50.90% | -82.81% |
FEBT Allianzim U.S. Large Cap Buffer10 Feb ETF | 10.09% | 12.72% | 17.29% | 15.47% |
Correlation
The correlation between UVXY and FEBT is -0.81, 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. | -0.81 |
Correlation (3Y) Balances recent behavior with more history. | -0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023 | -0.75 |
The correlation between UVXY and FEBT has been stable across timeframes, ranging from -0.81 to -0.75 - a consistent structural relationship.
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Return for Risk
UVXY vs. FEBT — Risk / Return Rank
UVXY
FEBT
UVXY vs. FEBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra VIX Short-Term Futures ETF (UVXY) and Allianzim U.S. Large Cap Buffer10 Feb ETF (FEBT). 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.
| UVXY | FEBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.05 | ||
| Sortino ratioReturn per unit of downside risk | -4.63 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.42 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 2.93 | -3.92 |
| Martin ratioReturn relative to average drawdown | -1.47 | 14.39 | -15.86 |
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Drawdowns
UVXY vs. FEBT - Drawdown Comparison
The maximum UVXY drawdown since its inception was -100.00%, which is greater than FEBT's maximum drawdown of -13.19%. Use the drawdown chart below to compare losses from any high point for UVXY and FEBT.
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Drawdown Indicators
| UVXY | FEBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -13.19% | -86.81% |
Max Drawdown (1Y)Largest decline over 1 year | -71.36% | -6.04% | -65.32% |
Max Drawdown (3Y)Largest decline over 3 years | -95.42% | -13.19% | -82.23% |
Max Drawdown (5Y)Largest decline over 5 years | -99.68% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | 0.00% | -100.00% |
Average DrawdownAverage peak-to-trough decline | -98.76% | -1.15% | -97.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.86% | 1.23% | +46.63% |
Volatility
UVXY vs. FEBT - Volatility Comparison
ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a higher volatility of 21.98% compared to Allianzim U.S. Large Cap Buffer10 Feb ETF (FEBT) at 2.35%. This indicates that UVXY's price experiences larger fluctuations and is considered to be riskier than FEBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UVXY | FEBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.98% | 2.35% | +19.63% |
Volatility (6M)Calculated over the trailing 6-month period | 65.18% | 6.51% | +58.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 86.32% | 8.01% | +78.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.35% | 9.70% | +93.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 112.07% | 9.70% | +102.37% |
UVXY vs. FEBT - Expense Ratio Comparison
UVXY has a 0.95% expense ratio, which is higher than FEBT's 0.74% expense ratio.
Dividends
UVXY vs. FEBT - Dividend Comparison
Neither UVXY nor FEBT has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FEBT Allianzim U.S. Large Cap Buffer10 Feb ETF | 0.00% | 0.00% | 0.28% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UVXY and FEBT have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (21.98%) compared to FEBT (2.35%). In terms of maximum drawdown, UVXY dropped -100.00% vs FEBT's -13.19%.
On 3-year performance, FEBT leads with 15.81% vs -63.63% for UVXY. On fees, FEBT is cheaper at 0.74% per year. On volatility, FEBT has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FEBT has performed better with a 15.81% return vs -63.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FEBT is cheaper with a 0.74% expense ratio, compared with 0.95% for UVXY.
UVXY and FEBT have nearly identical dividend yields, around 0.00%.
UVXY is categorized as Volatility, while FEBT is Options Trading. They also come from different issuers: ProShares and Allianz. Their fees differ too: 0.95% for UVXY and 0.74% for FEBT.
FEBT currently has the higher Sharpe Ratio (2.23 vs -0.82), 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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