UXI vs. NIOG

Last updated Aug 2, 2026

UXI (ProShares Ultra Industrials) and NIOG (Leverage Shares 2X Long NIO Daily ETF) are both Leveraged Equities funds - UXI tracks the Dow Jones U.S. Industrials Index (200%) while NIOG tracks the NIO Inc. (NIO). Both are passively managed. Their 0.09 correlation means their historical movements had little consistent relationship. UXI charges 0.95%/yr vs 0.75%/yr for NIOG.

Performance

UXI vs. NIOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Industrials (UXI) and Leverage Shares 2X Long NIO Daily ETF (NIOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UXI achieves a 28.57% return, which is significantly higher than NIOG's -27.56% return.

UXI

• 1D: 1.77%
• 1M: -4.74%
• 6M: 14.00%
• YTD: 28.57%
• 1Y: 35.83%
• 3Y*: 29.57%
• 5Y*: 12.67%
• 10Y*: 19.45%
• ALL TIME*: 13.24%

NIOG

• 1D: 2.78%
• 1M: 2.43%
• 6M: -13.06%
• YTD: -27.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NIOG Leverage Shares 2X Long NIO Daily ETF	$119.34K	$154.91K	$404.59K
UXI ProShares Ultra Industrials	$192.00K	$302.67K	$285.62K

UXI vs. NIOG - Yearly Performance Comparison

	2026 (YTD)	2025
UXI ProShares Ultra Industrials	28.57%	3.00%
NIOG Leverage Shares 2X Long NIO Daily ETF	-27.56%	3.25%

Correlation

The correlation between UXI and NIOG is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.09

Return for Risk

UXI vs. NIOG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UXI

UXI Risk / Return Rank: 39
UXI Sharpe Ratio Rank: 39
UXI Sortino Ratio Rank: 39
UXI Omega Ratio Rank: 37
UXI Calmar Ratio Rank: 39
UXI Martin Ratio Rank: 43

NIOG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UXI vs. NIOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Industrials (UXI) and Leverage Shares 2X Long NIO Daily ETF (NIOG). 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.

	UXI	NIOG	Difference
Sharpe ratio: Return per unit of total volatility	0.95	—	—
Sortino ratio: Return per unit of downside risk	1.46	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.36	—	—
Martin ratio: Return relative to average drawdown	4.85	—	—

Drawdowns

UXI vs. NIOG - Drawdown Comparison

The maximum UXI drawdown since its inception was -89.01%, which is greater than NIOG's maximum drawdown of -61.79%. Use the drawdown chart below to compare losses from any high point for UXI and NIOG.

Drawdown Indicators

	UXI	NIOG	Difference
Max Drawdown Largest peak-to-trough decline	-89.01%	-61.79%	-27.22%
Max Drawdown (1Y) Largest decline over 1 year	-23.59%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-36.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-48.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.48%	—	—
Current Drawdown Current decline from peak	-6.42%	-54.61%	+48.19%
Average Drawdown Average peak-to-trough decline	-22.46%	-27.99%	+5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.62%	—	—

Volatility

Volatility by Period

	UXI	NIOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	27.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	33.76%	109.44%	-75.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.24%	109.44%	-73.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.50%	109.44%	-69.94%

UXI vs. NIOG - Expense Ratio Comparison

UXI has a 0.95% expense ratio, which is higher than NIOG's 0.75% expense ratio.

Dividends

UXI vs. NIOG - Dividend Comparison

UXI's dividend yield for the trailing twelve months is around 0.51%, while NIOG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NIOG Leverage Shares 2X Long NIO Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UXI ProShares Ultra Industrials	0.51%	0.90%	0.18%	0.21%	0.24%	0.03%	0.29%	0.58%	0.37%	0.24%	0.38%	0.41%

Frequently Asked Questions

Can I hold both UXI and NIOG in my portfolio?

UXI and NIOG have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UXI or NIOG?

On fees, NIOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UXI or NIOG?

NIOG is cheaper with a 0.75% expense ratio, compared with 0.95% for UXI.

Which ETF pays a higher dividend yield, UXI or NIOG?

UXI has the higher dividend yield at 0.51%, compared with 0.00% for NIOG.

What is the main difference between UXI and NIOG?

UXI tracks Dow Jones U.S. Industrials Index (200%), while NIOG tracks NIO Inc. (NIO). They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for UXI and 0.75% for NIOG.