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Launched · SEC filings

ProShares Ultra VIX Short-Term Futures ETF

UVXYCboeProSharesCThis fund tracks market volatility itself rather than stocks or bonds. It is built as a short-term trading instrument, not a buy-and-hold investment.

$19.50+0.17 (+0.88%)

At close: Nov 2, 2026, 4:00 PM ET

C49/ 100

Rank 28 of 99 in Leveraged Long (2x & Other)

C49/100Rank 28 of 99inLeveraged Long (2x & Other)
Intraday session: up, 79 prints from 19.33 to 19.50. Range 17.64 to 19.56. Use the arrow keys to read each point.18.0018.5019.0010 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$225M
1Y total return
−63.6%
Yield · Last 12 months
No data
Holdings
1
Avg volume · 30D
8.43M sh
52W range
low $15.69high $68.48
Launched
Filings
SEC EDGAR

The ETF.net UVXY Grade

Based on 4 of 6 pillars

C

Score 49 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
28 of 99
Six-pillar profile for UVXY. Scores out of 100: Cost 51, Risk 9, Mission not scored, Tradability 78, Holdings not scored, Durability 83. Strongest: Durability (83). Weakest: Risk (9). Based on 4 of 6 pillars.

Score 49 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C51 out of 100
    Rank 32 of 99

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F9 out of 100
    Rank 96 of 98

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A78 out of 100
    Rank 10 of 99

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A83 out of 100
    Rank 1 of 99

Our read on UVXY

ETF.net Research

In short

CA volatility trading instrument, not a portfolio holding. UVXY targets 1.5 times the daily move of an index of short-term VIX futures, costs less than the typical leveraged fund, trades heavily, and resets every single day.

Stated mandate

The fund seeks daily results equal to 1.5 times the daily performance of the S&P 500 VIX Short-Term Futures Index, before fees and expenses.

Why people hold it

  • Expense ratio of 0.95%, below the 1.04% median for leveraged funds. Costs matter when holding periods are measured in hours.
  • Very actively traded, so entering and exiting during a volatility spike is rarely the hard part.
  • The mandate is mechanical and public: 1.5x the daily move of the S&P 500 VIX Short-Term Futures Index. No manager discretion in the mix.proshares.com
  • Live since 2011, through several volatility regimes, and it rates among the stronger builds in its leveraged peer group.

Worth knowing

  • The 1.5x target applies to one day. Over longer stretches, compounding can push results well away from 1.5x the index move, in either direction.
  • Sits at the extreme end of the risk spectrum even next to other leveraged funds, and it isn't an income product.
  • Structured as a commodity pool rather than a standard 1940 Act fund, so tax treatment and year-end paperwork differ from a plain stock ETF.proshares.com

UVXY Performance

Launched Oct 3, 2011

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

UVXY$3,644
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. UVXY $3,644. SPY $11,199. Use the arrow keys to read each point.$2,500$5,000$7,500$10,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for UVXY. Periods over one year show the average yearly return.
PeriodUVXY
Year to date−46.2%
1 month+11.9%
3 months−16.9%
1 year−63.6%
3 yearsper year−63.6%
5 yearsper year−65.8%
10 yearsper year−70.7%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for UVXY
YearReturn barUVXY
2026 YTD−46.2%
2025−65.3%
2024−50.9%
2023−87.7%
2022−44.8%
2021−88.3%
2020−17.4%

UVXY in the news

UVXY Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

UVXY Risk

Risk pillarF9 out of 100Rank 96 of 98 in Leveraged Long (2x & Other)
How much the fund’s monthly returns vary, scaled to a year.
60.4%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−1.36
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−99.7%
Trough Oct 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−3.28
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

UVXY Cost

Compare UVXY and WX

Overpaying vs WX, cheapest in Leveraged Long (2x & Other)

$13,714

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • UVXY 0.95%

    $17,869

  • WX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • UVXY 0.95%
  • WX 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UVXY $17,869WX $4,155

Year by year

YearUVXYWXOverpaying
10$1,678$365$1,313
20$6,322$1,421$4,901
30$17,869$4,155$13,714

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