UVXY vs. UVIX
Compare and contrast key facts about ProShares Ultra VIX Short-Term Futures ETF (UVXY) and Volatility Shares 2x Long VIX Futures ETF (UVIX).
UVXY and UVIX 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. 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. Both UVXY and UVIX 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: UVXY or UVIX.
Key characteristics
| UVXY | UVIX | |
|---|---|---|
| YTD Return | -52.56% | -75.16% |
| 1Y Return | -66.80% | -84.89% |
| Sharpe Ratio | -0.61 | -0.56 |
| Sortino Ratio | -0.91 | -1.05 |
| Omega Ratio | 0.90 | 0.88 |
| Calmar Ratio | -0.67 | -0.85 |
| Martin Ratio | -1.38 | -1.34 |
| Ulcer Index | 48.86% | 63.59% |
| Daily Std Dev | 110.14% | 151.36% |
| Max Drawdown | -100.00% | -99.74% |
| Current Drawdown | -100.00% | -99.74% |
Correlation
The correlation between UVXY and UVIX 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
UVXY vs. UVIX - Performance Comparison
In the year-to-date period, UVXY achieves a -52.56% return, which is significantly higher than UVIX's -75.16% 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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UVXY vs. UVIX - Expense Ratio Comparison
UVXY has a 0.95% expense ratio, which is lower than UVIX's 2.78% expense ratio.
Risk-Adjusted Performance
UVXY vs. UVIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra VIX Short-Term Futures ETF (UVXY) and Volatility Shares 2x Long VIX Futures ETF (UVIX). 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
UVXY vs. UVIX - Dividend Comparison
Neither UVXY nor UVIX has paid dividends to shareholders.
Drawdowns
UVXY vs. UVIX - Drawdown Comparison
The maximum UVXY drawdown since its inception was -100.00%, roughly equal to the maximum UVIX drawdown of -99.74%. Use the drawdown chart below to compare losses from any high point for UVXY and UVIX. For additional features, visit the drawdowns tool.
Volatility
UVXY vs. UVIX - Volatility Comparison
The current volatility for ProShares Ultra VIX Short-Term Futures ETF (UVXY) is 26.62%, while Volatility Shares 2x Long VIX Futures ETF (UVIX) has a volatility of 35.48%. This indicates that UVXY experiences smaller price fluctuations and is considered to be less risky than UVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.