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UVXY

GradeCChicago Board Options Exchange

ProShares - Ultra VIX Short-Term Futures ETF

Volatility product · Leveraged & Inverse · ProShares · Inception 2011-10-03 · SEC filings

This 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.

$17.00+0.36 (+2.19%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: up, 59 prints from 16.63 to 17.00. Range 16.59 to 17.19. Use the arrow keys to read each point.$16.60$16.80$17.2010 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$287M
1Y return
−69.2%
Yield · Last 12 months
—
Holdings
3
Volume · 30D
7.6M sh
NAV per share
$17.53
52W range
low $16.55high $70.60

The ETF.net UVXY Grade

C

54/ 100

Rank 21 of 99 in Leveraged Long (2x & Other)⁠

Confidence Medium

Six-pillar profile for UVXY. Scores out of 100: Cost 65, Risk 7, Mission not scored, Tradability 70, Holdings not scored, Durability 83. Strongest: Durability (83). Weakest: Risk (7). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 54 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 65
    Category rank39/99 · top 39%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 7
    Category rank92/94 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 70
    Category rank19/99 · top 19%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 83
    Category rank1/99 · top 1%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on UVXY

ETF.net Research

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

  1. 01Expense ratio of 0.95%, below the 1.04% median for leveraged funds. Costs matter when holding periods are measured in hours.
  2. 02Very actively traded, so entering and exiting during a volatility spike is rarely the hard part.
  3. 03The 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
  4. 04Live since 2011, through several volatility regimes, and it rates among the stronger builds in its leveraged peer group.

Worth knowing

  1. 01The 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.
  2. 02Sits at the extreme end of the risk spectrum even next to other leveraged funds, and it isn't an income product.
  3. 03Structured 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 Holdings

As of Sep 20, 2026, 6:50 AM
Asset class
Other
Holdings
3
Top-10 weight
100%
Largest holding
Net Other Assets (Liabilities)100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Net Other Assets (Liabilities)100.00%286,868,726$287M162

Showing 1–1 of 1 holdings

UVXY Performance

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

UVXY$3,082
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. UVXY $3,082. SPY $11,723. Use the arrow keys to read each point.$2,388$7,422$12,456Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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−53.7%
1 month−14.3%
3 months−35.7%
1 year−69.2%
3 years−65.2%per year
5 years−69.1%per year
10 years−71.1%per year

As of the close, 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−53.7%
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.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

UVXY Risk

How much the fund’s monthly returns vary, scaled to a year.
60.5%
Annualised · 36 months to Aug 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.
−1.35
vs 3-month T-bills · to Aug 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 Sep 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.
−3.30
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.

UVXY Cost

Expense ratio0.95%
  • The middle half of Leveraged Long (2x & Other) funds
  • Median 0.99%

29 of the 93 Leveraged Long (2x & Other) funds charge less.

UVXY costs $95.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $99.00.