UXRP vs. GSY

Last updated Aug 2, 2026

UXRP (ProShares Ultra XRP ETF) and GSY (Invesco Ultra Short Duration ETF) are both exchange-traded funds - UXRP is a Leveraged Cryptocurrency fund tracking the Bloomberg XRP Index, while GSY is a Ultrashort Bond fund actively managed by Invesco. UXRP is passively managed, while GSY is actively managed. Over the past year, UXRP returned -94.69% vs 4.24% for GSY. Their 0.08 correlation means their historical movements had little consistent relationship. UXRP charges 1.67%/yr vs 0.22%/yr for GSY.

Performance

UXRP vs. GSY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra XRP ETF (UXRP) and Invesco Ultra Short Duration ETF (GSY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UXRP achieves a -77.99% return, which is significantly lower than GSY's 2.23% return.

UXRP

• 1D: -5.41%
• 1M: -7.09%
• 6M: -74.16%
• YTD: -77.99%
• 1Y: -94.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -94.38%

GSY

• 1D: 0.00%
• 1M: 0.32%
• 6M: 1.85%
• YTD: 2.23%
• 1Y: 4.24%
• 3Y*: 5.35%
• 5Y*: 3.77%
• 10Y*: 2.89%
• ALL TIME*: 1.96%

*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)
GSY Invesco Ultra Short Duration ETF	$31.05M	$29.31M	$31.19M
UXRP ProShares Ultra XRP ETF	$852.19K	$746.96K	$1.32M

UXRP vs. GSY - Yearly Performance Comparison

	2026 (YTD)	2025
UXRP ProShares Ultra XRP ETF	-77.99%	-77.43%
GSY Invesco Ultra Short Duration ETF	2.23%	2.28%

Correlation

The correlation between UXRP and GSY is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.07
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.08

Return for Risk

UXRP vs. GSY — Risk / Return Rank

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

UXRP

UXRP Risk / Return Rank: 2
UXRP Sharpe Ratio Rank: 4
UXRP Sortino Ratio Rank: 1
UXRP Omega Ratio Rank: 1
UXRP Calmar Ratio Rank: 0
UXRP Martin Ratio Rank: 3

GSY

GSY Risk / Return Rank: 99
GSY Sharpe Ratio Rank: 100
GSY Sortino Ratio Rank: 99
GSY Omega Ratio Rank: 99
GSY Calmar Ratio Rank: 100
GSY Martin Ratio Rank: 100

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.

UXRP vs. GSY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra XRP ETF (UXRP) and Invesco Ultra Short Duration ETF (GSY). 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.

	UXRP	GSY	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	10.47	-11.14
Sortino ratio: Return per unit of downside risk	-1.95	24.05	-26.00
Omega ratio: Gain probability vs. loss probability	0.79	5.74	-4.95
Calmar ratio: Return relative to maximum drawdown	-0.99	72.77	-73.76
Martin ratio: Return relative to average drawdown	-1.23	323.22	-324.45

UXRP vs. GSY - Sharpe Ratio Comparison

The current UXRP Sharpe Ratio is -0.66, which is lower than the GSY Sharpe Ratio of 10.47. The chart below compares the historical Sharpe Ratios of UXRP and GSY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UXRP vs. GSY - Drawdown Comparison

The maximum UXRP drawdown since its inception was -96.60%, which is greater than GSY's maximum drawdown of -12.14%. Use the drawdown chart below to compare losses from any high point for UXRP and GSY.

Drawdown Indicators

	UXRP	GSY	Difference
Max Drawdown Largest peak-to-trough decline	-96.60%	-12.14%	-84.46%
Max Drawdown (1Y) Largest decline over 1 year	-95.74%	-0.06%	-95.68%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.25%	—
Current Drawdown Current decline from peak	-96.51%	0.00%	-96.51%
Average Drawdown Average peak-to-trough decline	-74.97%	-2.37%	-72.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	76.79%	0.01%	+76.78%

Volatility

UXRP vs. GSY - Volatility Comparison

ProShares Ultra XRP ETF (UXRP) has a higher volatility of 24.70% compared to Invesco Ultra Short Duration ETF (GSY) at 0.14%. This indicates that UXRP's price experiences larger fluctuations and is considered to be riskier than GSY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UXRP	GSY	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.70%	0.14%	+24.56%
Volatility (6M) Calculated over the trailing 6-month period	101.23%	0.32%	+100.91%
Volatility (1Y) Calculated over the trailing 1-year period	142.99%	0.42%	+142.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	143.51%	0.59%	+142.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	143.51%	1.22%	+142.29%

UXRP vs. GSY - Expense Ratio Comparison

UXRP has a 1.67% expense ratio, which is higher than GSY's 0.22% expense ratio.

Dividends

UXRP vs. GSY - Dividend Comparison

UXRP's dividend yield for the trailing twelve months is around 0.02%, less than GSY's 4.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GSY Invesco Ultra Short Duration ETF	4.26%	4.56%	5.31%	4.95%	1.70%	0.58%	1.45%	2.71%	2.30%	1.80%	1.21%	1.17%
UXRP ProShares Ultra XRP ETF	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UXRP and GSY in my portfolio?

UXRP and GSY have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UXRP or GSY?

UXRP has higher volatility (24.70%) compared to GSY (0.14%). In terms of maximum drawdown, UXRP dropped -96.60% vs GSY's -12.14%.

Which ETF is better, UXRP or GSY?

On 1-year performance, GSY leads with 4.24% vs -94.69% for UXRP. On fees, GSY is cheaper at 0.22% per year. On volatility, GSY has been the lower-risk option at 0.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UXRP or GSY?

Over the 1-year period, GSY has performed better with a 4.24% return vs -94.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UXRP or GSY?

GSY is cheaper with a 0.22% expense ratio, compared with 1.67% for UXRP.

Which ETF pays a higher dividend yield, UXRP or GSY?

GSY has the higher dividend yield at 4.26%, compared with 0.02% for UXRP.

What is the main difference between UXRP and GSY?

UXRP is categorized as Leveraged Cryptocurrency, while GSY is Ultrashort Bond. They also come from different issuers: ProShares and Invesco. Their fees differ too: 1.67% for UXRP and 0.22% for GSY.

Which has better risk-adjusted returns?

GSY currently has the higher Sharpe Ratio (10.47 vs -0.66), 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.