UYM vs. UVXY
UYM (ProShares Ultra Basic Materials) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - UYM is a Leveraged Equities fund tracking the Dow Jones U.S. Basic Materials 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, UYM returned 10.75%/yr vs -72.05%/yr for UVXY. At a correlation of -0.61, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
UYM vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, UYM achieves a 19.88% return, which is significantly higher than UVXY's -32.31% return. Over the past 10 years, UYM has outperformed UVXY with an annualized return of 10.75%, while UVXY has yielded a comparatively lower -72.05% annualized return.
UYM
- 1D
- -1.34%
- 1M
- -6.31%
- 6M
- 4.89%
- YTD
- 19.88%
- 1Y
- 15.72%
- 3Y*
- 7.61%
- 5Y*
- 5.53%
- 10Y*
- 10.75%
UVXY
- 1D
- 4.92%
- 1M
- -15.35%
- 6M
- -29.18%
- YTD
- -32.31%
- 1Y
- -71.44%
- 3Y*
- -61.73%
- 5Y*
- -67.56%
- 10Y*
- -72.05%
UYM vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UYM ProShares Ultra Basic Materials | 19.88% | 9.46% | -8.00% | 17.47% | -23.10% | 54.58% | 16.56% | 35.09% | -35.68% | 51.51% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -32.31% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between UYM and UVXY is -0.43, 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 | -0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.59 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | -0.61 |
The correlation between UYM and UVXY shifts across timeframes, from -0.61 (all time) to -0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UYM vs. UVXY — Risk / Return Rank
UYM
UVXY
UYM vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Basic Materials (UYM) 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.
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.
| UYM | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.83 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | -0.98 | +1.64 |
| Martin ratioReturn relative to average drawdown | 1.69 | -1.46 | +3.15 |
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Drawdowns
UYM vs. UVXY - Drawdown Comparison
The maximum UYM drawdown since its inception was -92.77%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UYM and UVXY.
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Drawdown Indicators
| UYM | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.77% | -100.00% | +7.23% |
Max Drawdown (1Y)Largest decline over 1 year | -23.85% | -73.42% | +49.57% |
Max Drawdown (3Y)Largest decline over 3 years | -43.88% | -95.32% | +51.44% |
Max Drawdown (5Y)Largest decline over 5 years | -48.25% | -99.74% | +51.49% |
Max Drawdown (10Y)Largest decline over 10 years | -73.31% | -100.00% | +26.69% |
Current DrawdownCurrent decline from peak | -13.17% | -100.00% | +86.83% |
Average DrawdownAverage peak-to-trough decline | -41.94% | -98.75% | +56.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.36% | 48.91% | -39.55% |
Volatility
UYM vs. UVXY - Volatility Comparison
The current volatility for ProShares Ultra Basic Materials (UYM) is 12.54%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 21.23%. This indicates that UYM 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
| UYM | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.54% | 21.23% | -8.69% |
Volatility (6M)Calculated over the trailing 6-month period | 27.75% | 66.69% | -38.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.39% | 85.49% | -50.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.46% | 103.84% | -64.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.70% | 112.03% | -69.33% |
UYM vs. UVXY - Expense Ratio Comparison
Both UYM and UVXY have an expense ratio of 0.95%.
Dividends
UYM vs. UVXY - Dividend Comparison
UYM's dividend yield for the trailing twelve months is around 1.18%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
UYM ProShares Ultra Basic Materials | 1.18% | 1.47% | 0.98% | 0.28% | 0.88% | 0.52% | 0.56% | 1.24% | 0.94% | 0.38% | 0.55% | 0.42% |
Frequently Asked Questions
UYM and UVXY have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (21.23%) compared to UYM (12.54%). In terms of maximum drawdown, UYM dropped -92.77% vs UVXY's -100.00%.
On 10-year performance, UYM leads with 10.75% vs -72.05% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, UYM has been the lower-risk option at 12.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, UYM has performed better with a 10.75% return vs -72.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UYM and UVXY have the same expense ratio: 0.95% per year.
UYM has the higher dividend yield at 1.18%, compared with 0.00% for UVXY.
UYM is categorized as Leveraged Equities, while UVXY is Volatility. UYM tracks Dow Jones U.S. Basic Materials Index (200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
UYM currently has the higher Sharpe Ratio (0.45 vs -0.84), 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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