XLU vs. UVXY
XLU (State Street Utilities Select Sector SPDR ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - XLU is a Utilities Equities fund tracking the Utilities Select Sector Index, 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, XLU returned 9.21%/yr vs -72.05%/yr for UVXY. At a correlation of -0.30, they often move in opposite directions. XLU charges 0.08%/yr vs 0.95%/yr for UVXY.
Performance
XLU vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, XLU achieves a 8.54% return, which is significantly higher than UVXY's -32.31% return. Over the past 10 years, XLU has outperformed UVXY with an annualized return of 9.21%, while UVXY has yielded a comparatively lower -72.05% annualized return.
XLU
- 1D
- 0.68%
- 1M
- 3.33%
- 6M
- 8.82%
- YTD
- 8.54%
- 1Y
- 14.00%
- 3Y*
- 14.39%
- 5Y*
- 10.38%
- 10Y*
- 9.21%
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%
XLU vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XLU State Street Utilities Select Sector SPDR ETF | 8.54% | 16.03% | 23.31% | -7.18% | 1.44% | 17.70% | 0.51% | 25.93% | 3.94% | 12.05% |
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 XLU and UVXY is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | -0.30 |
The correlation between XLU and UVXY shifts across timeframes, from -0.30 (all time) to -0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XLU vs. UVXY — Risk / Return Rank
XLU
UVXY
XLU vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street Utilities Select Sector SPDR ETF (XLU) 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.
| XLU | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +2.84 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.83 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | -0.98 | +2.51 |
| Martin ratioReturn relative to average drawdown | 3.20 | -1.46 | +4.66 |
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Drawdowns
XLU vs. UVXY - Drawdown Comparison
The maximum XLU drawdown since its inception was -51.98%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for XLU and UVXY.
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Drawdown Indicators
| XLU | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.98% | -100.00% | +48.02% |
Max Drawdown (1Y)Largest decline over 1 year | -9.18% | -73.42% | +64.24% |
Max Drawdown (3Y)Largest decline over 3 years | -17.26% | -95.32% | +78.06% |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | -99.74% | +74.48% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | -100.00% | +63.93% |
Current DrawdownCurrent decline from peak | -2.92% | -100.00% | +97.08% |
Average DrawdownAverage peak-to-trough decline | -10.20% | -98.75% | +88.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 48.91% | -44.52% |
Volatility
XLU vs. UVXY - Volatility Comparison
The current volatility for State Street Utilities Select Sector SPDR ETF (XLU) is 4.40%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 21.23%. This indicates that XLU 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
| XLU | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 21.23% | -16.83% |
Volatility (6M)Calculated over the trailing 6-month period | 11.81% | 66.69% | -54.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.92% | 85.49% | -70.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.35% | 103.84% | -86.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 112.03% | -92.74% |
XLU vs. UVXY - Expense Ratio Comparison
XLU has a 0.08% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
XLU vs. UVXY - Dividend Comparison
XLU's dividend yield for the trailing twelve months is around 2.61%, 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% |
XLU State Street Utilities Select Sector SPDR ETF | 2.61% | 2.71% | 2.96% | 3.39% | 2.92% | 2.79% | 3.14% | 2.95% | 3.33% | 3.33% | 3.41% | 3.67% |
Frequently Asked Questions
XLU and UVXY have a correlation of -0.12, 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 XLU (4.40%). In terms of maximum drawdown, XLU dropped -51.98% vs UVXY's -100.00%.
On 10-year performance, XLU leads with 9.21% vs -72.05% for UVXY. On fees, XLU is cheaper at 0.08% per year. On volatility, XLU has been the lower-risk option at 4.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLU has performed better with a 9.21% return vs -72.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLU is cheaper with a 0.08% expense ratio, compared with 0.95% for UVXY.
XLU has the higher dividend yield at 2.61%, compared with 0.00% for UVXY.
XLU is categorized as Utilities Equities, while UVXY is Volatility. XLU tracks Utilities Select Sector Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.08% for XLU and 0.95% for UVXY.
XLU currently has the higher Sharpe Ratio (0.94 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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