VIXY vs. UVXY
Compare and contrast key facts about ProShares VIX Short-Term Futures ETF (VIXY) and ProShares Ultra VIX Short-Term Futures ETF (UVXY).
VIXY and UVXY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VIXY is a passively managed fund by ProFund Advisors LLC that tracks the performance of the S&P 500 VIX Short-Term Futures Index Total Return. It was launched on Jan 3, 2011. 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. Both VIXY and UVXY 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: VIXY or UVXY.
Key characteristics
| VIXY | UVXY | |
|---|---|---|
| YTD Return | -12.51% | -20.62% |
| 1Y Return | -65.34% | -81.84% |
| 3Y Return (Ann) | -56.53% | -75.68% |
| 5Y Return (Ann) | -49.69% | -70.84% |
| 10Y Return (Ann) | -48.72% | -64.37% |
| Sharpe Ratio | -1.25 | -1.07 |
| Daily Std Dev | 51.08% | 75.52% |
| Max Drawdown | -99.99% | -100.00% |
| Current Drawdown | -99.99% | -100.00% |
Correlation
The correlation between VIXY and UVXY is 0.73, 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
VIXY vs. UVXY - Performance Comparison
In the year-to-date period, VIXY achieves a -12.51% return, which is significantly higher than UVXY's -20.62% return. Over the past 10 years, VIXY has outperformed UVXY with an annualized return of -48.72%, while UVXY has yielded a comparatively lower -64.37% annualized 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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VIXY vs. UVXY - Expense Ratio Comparison
VIXY has a 0.85% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Risk-Adjusted Performance
VIXY vs. UVXY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Short-Term Futures ETF (VIXY) 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.
Dividends
VIXY vs. UVXY - Dividend Comparison
Neither VIXY nor UVXY has paid dividends to shareholders.
Drawdowns
VIXY vs. UVXY - Drawdown Comparison
The maximum VIXY drawdown since its inception was -99.99%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for VIXY and UVXY. For additional features, visit the drawdowns tool.
Volatility
VIXY vs. UVXY - Volatility Comparison
The current volatility for ProShares VIX Short-Term Futures ETF (VIXY) is 16.89%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 25.07%. This indicates that VIXY 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.