UVXY vs. TERG

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Ultra VIX Short-Term Futures ETF (UVXY) and Leverage Shares 2X Long TER Daily ETF (TERG).

UVXY and TERG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. TERG is an actively managed fund by Leverage Shares. It was launched on Nov 17, 2025.

Performance

UVXY vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra VIX Short-Term Futures ETF (UVXY) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

UVXY vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
UVXY ProShares Ultra VIX Short-Term Futures ETF	40.61%	-38.58%
TERG Leverage Shares 2X Long TER Daily ETF	124.98%	28.17%

Returns By Period

In the year-to-date period, UVXY achieves a 40.61% return, which is significantly lower than TERG's 124.98% return.

UVXY

• 1D: -3.40%
• 1M: 25.05%
• YTD: 40.61%
• 6M: -2.75%
• 1Y: -57.00%
• 3Y*: -64.84%
• 5Y*: -67.28%
• 10Y*: -72.80%

TERG

• 1D: 10.94%
• 1M: -13.61%
• YTD: 124.98%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UVXY vs. TERG - Expense Ratio Comparison

UVXY has a 0.95% expense ratio, which is higher than TERG's 0.75% expense ratio.

UVXY

ProShares Ultra VIX Short-Term Futures ETF

TERG

Leverage Shares 2X Long TER Daily ETF

Return for Risk

UVXY vs. TERG — Risk / Return Rank

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

UVXY

UVXY Risk / Return Rank: 5
UVXY Sharpe Ratio Rank: 4
UVXY Sortino Ratio Rank: 6
UVXY Omega Ratio Rank: 6
UVXY Calmar Ratio Rank: 2
UVXY Martin Ratio Rank: 6

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. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra VIX Short-Term Futures ETF (UVXY) and Leverage Shares 2X Long TER Daily ETF (TERG). 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	TERG	Difference
Sharpe ratio Return per unit of total volatility	-0.51	—	—
Sortino ratio Return per unit of downside risk	-0.30	—	—
Omega ratio Gain probability vs. loss probability	0.96	—	—
Calmar ratio Return relative to maximum drawdown	-0.66	—	—
Martin ratio Return relative to average drawdown	-0.80	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UVXY	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.51	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.64	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.67	13.84	-14.51

Correlation

The correlation between UVXY and TERG is -0.56. 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

UVXY vs. TERG - Dividend Comparison

Neither UVXY nor TERG has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

UVXY vs. TERG - Drawdown Comparison

The maximum UVXY drawdown since its inception was -100.00%, which is greater than TERG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for UVXY and TERG.

Drawdown Indicators

	UVXY	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-39.32%	-60.68%
Max Drawdown (1Y) Largest decline over 1 year	-85.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-99.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-100.00%	—	—
Current Drawdown Current decline from peak	-100.00%	-22.98%	-77.02%
Average Drawdown Average peak-to-trough decline	-98.53%	-9.92%	-88.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	71.09%	—	—

Volatility

Volatility by Period

	UVXY	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	45.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	71.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	113.07%	124.92%	-11.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.47%	124.92%	-19.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.51%	124.92%	-10.41%