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UXI vs. UVXY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UXI vs. UVXY

Last updated Jun 4, 2026

UXI (ProShares Ultra Industrials) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - UXI is a Leveraged Equities fund tracking the Dow Jones U.S. Industrials Index (200%), while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, UXI returned 19.32%/yr vs -72.67%/yr for UVXY. At a correlation of -0.64, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

UXI vs. UVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Industrials (UXI) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UXI achieves a 21.82% return, which is significantly higher than UVXY's -19.06% return. Over the past 10 years, UXI has outperformed UVXY with an annualized return of 19.32%, while UVXY has yielded a comparatively lower -72.67% annualized return.

UXI

1D
0.07%
1M
3.06%
YTD
21.82%
6M
23.67%
1Y
38.90%
3Y*
35.05%
5Y*
11.54%
10Y*
19.32%

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

UXI vs. UVXY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UXI
ProShares Ultra Industrials		21.82%28.84%26.48%27.34%-32.90%34.64%16.37%67.44%-28.13%51.81%
UVXY
ProShares Ultra VIX Short-Term Futures ETF		-19.06%-65.32%-50.90%-87.70%-44.81%-88.33%-17.38%-84.23%60.10%-94.17%

Correlation

The correlation between UXI and UVXY is -0.57, 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

-0.57

Correlation (3Y)
Calculated over the trailing 3-year period

-0.59

Correlation (5Y)
Calculated over the trailing 5-year period

-0.66

Correlation (10Y)
Calculated over the trailing 10-year period

-0.64

Correlation (All Time)
Calculated using the full available price history since Oct 5, 2011

-0.64

The correlation between UXI and UVXY has been stable across timeframes, ranging from -0.66 to -0.57 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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ProShares Ultra Industrials

ProShares Ultra VIX Short-Term Futures ETF

Often compared with UXI:
UXI vs. DUSLUXI vs. XLIUXI vs. AIRRUXI vs. UYMUXI vs. SOXLUXI vs. VGTUXI vs. XIT.TO
Often compared with UVXY:
UVXY vs. UVIXUVXY vs. VXXUVXY vs. VIXYUVXY vs. SVXYUVXY vs. SQQQUVXY vs. SPYUVXY vs. SPXS

Return for Risk

UXI vs. UVXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UXI
UXI Risk / Return Rank: 3535
Overall Rank
UXI Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
UXI Sortino Ratio Rank: 3535
Sortino Ratio Rank
UXI Omega Ratio Rank: 3232
Omega Ratio Rank
UXI Calmar Ratio Rank: 3434
Calmar Ratio Rank
UXI Martin Ratio Rank: 3838
Martin Ratio Rank
UVXY
UVXY Risk / Return Rank: 11
Overall Rank
UVXY Sharpe Ratio Rank: 22
Sharpe Ratio Rank
UVXY Sortino Ratio Rank: 11
Sortino Ratio Rank
UVXY Omega Ratio Rank: 11
Omega Ratio Rank
UVXY Calmar Ratio Rank: 11
Calmar Ratio Rank
UVXY Martin Ratio Rank: 22
Martin Ratio Rank
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.

UXI vs. UVXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Industrials (UXI) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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.

UXIUVXYDifference

Sharpe ratio

Return per unit of total volatility

1.27

-0.87

+2.13

Sortino ratio

Return per unit of downside risk

1.87

-1.60

+3.47

Omega ratio

Gain probability vs. loss probability

1.22

0.82

+0.40

Calmar ratio

Return relative to maximum drawdown

1.66

-0.97

+2.63

Martin ratio

Return relative to average drawdown

5.93

-1.31

+7.24

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UXI vs. UVXY - Sharpe Ratio Comparison

The current UXI Sharpe Ratio is 1.27, which is higher than the UVXY Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of UXI and UVXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

UXIUVXYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.27

-0.87

+2.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

-0.66

+0.98

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.49

-0.64

+1.13

Sharpe Ratio (All Time)

Calculated using the full available price history

0.29

-0.68

+0.97

Drawdowns

UXI vs. UVXY - Drawdown Comparison

The maximum UXI drawdown since its inception was -89.01%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UXI and UVXY.

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Drawdown Indicators

UXIUVXYDifference

Max Drawdown

Largest peak-to-trough decline

-89.01%

-100.00%

+10.99%

Max Drawdown (1Y)

Largest decline over 1 year

-23.59%

-75.22%

+51.63%

Max Drawdown (3Y)

Largest decline over 3 years

-36.42%

-95.45%

+59.03%

Max Drawdown (5Y)

Largest decline over 5 years

-48.25%

-99.68%

+51.43%

Max Drawdown (10Y)

Largest decline over 10 years

-66.48%

-100.00%

+33.52%

Current Drawdown

Current decline from peak

-7.08%

-100.00%

+92.92%

Average Drawdown

Average peak-to-trough decline

-22.61%

-98.55%

+75.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.57%

55.63%

-49.06%

Volatility

UXI vs. UVXY - Volatility Comparison

The current volatility for ProShares Ultra Industrials (UXI) is 9.86%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 11.77%. This indicates that UXI experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UXIUVXYDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.86%

11.77%

-1.91%

Volatility (6M)

Calculated over the trailing 6-month period

25.69%

62.64%

-36.95%

Volatility (1Y)

Calculated over the trailing 1-year period

30.91%

84.42%

-53.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.90%

103.85%

-67.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

39.42%

113.82%

-74.40%

UXI vs. UVXY - Expense Ratio Comparison

Both UXI and UVXY have an expense ratio of 0.95%.

Dividends

UXI vs. UVXY - Dividend Comparison

UXI's dividend yield for the trailing twelve months is around 0.67%, while UVXY has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
UVXY
ProShares Ultra VIX Short-Term Futures 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		0.67%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

UXI and UVXY have a correlation of -0.57, 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 UXI (9.86%). In terms of maximum drawdown, UXI dropped -89.01% vs UVXY's -100.00%.

On 10-year performance, UXI leads with 19.32% vs -72.67% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, UXI has been the lower-risk option at 9.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UXI has performed better with a 19.32% return vs -72.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

UXI and UVXY have the same expense ratio: 0.95% per year.

UXI has the higher dividend yield at 0.67%, compared with 0.00% for UVXY.

UXI is categorized as Leveraged Equities, while UVXY is Volatility. UXI tracks Dow Jones U.S. Industrials Index (200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).

UXI currently has the higher Sharpe Ratio (1.27 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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