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BIS vs SVXY

ProShares UltraShort Nasdaq Biotechnology

BISDNasdaq

ProShares Short VIX Short-Term Futures ETF

SVXYBCboe

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

BIS0.95%SVXY0.95%

Avg volume · 30D

SVXY 171.6×the volume

BIS8.68KSVXY1.49M

10Y return · a year

SVXY +26.3pt

BIS−28.0%SVXY−1.7%

BIS vs SVXY Performance

Oct 29, 2021 – Oct 30, 2026

−68.3%BIS+96.6%SVXY

Oct 29, 2021 to Oct 30, 2026. BIS −68.3%. SVXY +96.6%. Use the arrow keys to read each point.0%50%Oct 2021Apr 2024Oct 2026
Expense ratio
BIS 0.95%
SVXY 0.95%
Fund size
BIS $2M
SVXY $201M
1Y total return
BIS −49.7%
SVXY +21.9%, better
Yield (12M)
BIS 5.90%
SVXY No data
Holdings
BIS 1
SVXY 1
Avg volume (30D)
BIS 8.68K sh
SVXY 1.49M sh, better
NAV per share
BIS $10.47
SVXY $60.55
52W range

ETF.net Grade

BIS: Cost 50, Risk 22, Mission not scored, Tradability 36, Holdings not scored, Durability 39. SVXY: Cost 50, Risk 75, Mission not scored, Tradability 84, Holdings not scored, Durability 76.
Pillar letters and Scores for BIS, SVXY, with each pillar’s weight
PillarBISSVXY
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightF22A75Higher
Tradability15% weightD36A84Higher
Holdings10% weightNot scoredNot scored
Durability5% weightD39A76Higher

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BIS and SVXY are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

SVXY ranks 1st and BIS 49th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 3BPSQProShares Short QQQScore 64
  4. Rank 32CYXIProShares Short FTSE China 50Score 40
  5. Rank 49DBISProShares UltraShort Nasdaq BiotechnologyScore 39
  6. Rank 50DSDDProShares UltraShort SmallCap600Score 38

Our read on each fund

ETF.net Research

BISDProShares UltraShort Nasdaq Biotechnology

SVXYBProShares Short VIX Short-Term Futures ETF

In short

BIS The only -2x bet against biotech: BIS aims to deliver twice the inverse of the Nasdaq Biotechnology Index's daily move, then resets the clock every night. A gentler dial than the -3x biotech bear funds, and designed for single-day exposure.

SVXY Short volatility, half dose. SVXY targets one-half the inverse of a VIX short-term futures index each day, a deliberately de-tuned take on the short-vol trade, and it has run that mandate since 2011.

Stated mandate

BIS The fund seeks daily results, before fees and expenses, equal to approximately negative two times the daily performance of the Nasdaq Biotechnology Index. It is not designed to achieve that target over periods longer than one day.

SVXY SVXY seeks daily results equal to one-half the inverse of the S&P 500 VIX Short-Term Futures Index. Its objective is measured daily, so returns over longer periods can differ from the stated daily target.

Why people hold it

  • BIS ProShares calls it the only -2x ETF built to move against daily declines in biotech. Where rivals jump straight to -3x, this is the half-step.proshares.com
  • 0.95% net of a waiver through September 30, 2027, near the category median and the same net fee as ProShares stablemates PSQ, DOG and RWM (also waived to that date).
  • Tracks the Nasdaq Biotechnology Index, the cap-weighted Nasdaq-listed biotech and pharma benchmark, rather than the equal-weight small-cap index behind Direxion's -3x biotech pair.proshares.comdirexion.com
  • Live since April 2010, so it has traded through multiple biotech boom-and-bust cycles under the same daily-reset mechanics.
  • SVXY The half-strength design is the whole idea: a -0.5x daily target rather than full inverse, so a jump in VIX futures lands with half the force of a one-for-one short.proshares.com
  • 0.95% a year sits below the typical leveraged and inverse fund, and among that crowd this is one of the stronger implementations in its peer group.
  • Launched in 2011 and actively traded, so it has a long operating history and a working market for getting in and out.

Worth knowing

  • BIS The prospectus is blunt: it targets -2x for one day and is not designed to hit that over longer periods. Compounding means multi-day results depend on the path.proshares.com
  • Gross expenses run 3.91%; the 0.95% you pay rests on a waiver scheduled through September 30, 2027.
  • One of the smaller, more thinly traded funds in the leveraged-bear group, so spreads can be wider than on headline names like PSQ.
  • SVXY The objective resets daily. Hold longer and compounding takes over, so results over weeks or months can look nothing like half the inverse of the index.proshares.com
  • It is a commodity pool holding VIX futures, not a basket of stocks. Reporting and tax treatment follow different rules than a standard equity ETF.proshares.com
  • Pure price vehicle with no distribution stream, and volatility spikes arrive fast, which is exactly what a short-vol position is on the wrong side of.

Full BIS profile⁠

Full SVXY profile⁠

BIS vs SVXY Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BIS vs SVXY Cost

Same expense ratio

$17,869

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

  • BIS 0.95%

    $17,869

  • SVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • BIS 0.95%
  • SVXY 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BIS $17,869SVXY $17,869

Year by year

YearBISSVXY
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%BIS
  • 0.95%SVXY
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

BIS 6th cheapest of 53 funds

SVXY 6th cheapest of 53 funds

BIS vs SVXY Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BIS 5.90%
SVXY No data
Payout (12M)
BIS $0.62
SVXY None
Last payment
BIS $0.14
SVXY No data
Ex-dividend
BIS Sep 23, 2026
SVXY No data
Paid on
BIS Sep 29, 2026
SVXY No data
Frequency
BIS Quarterly
SVXY No data

Distribution history

Per share, 2023 to 2026, same scale for both

BISQuarterly · 14 paymentsAll BIS payments⁠
One bar per payment. 14 payments from 2023 to 2026 YTD. Jun 21, 2023 $0.04; Sep 20, 2023 $0.24; Dec 20, 2023 $0.35; Mar 20, 2024 $0.32; Jun 26, 2024 $0.32; Sep 25, 2024 $0.30; Dec 23, 2024 $0.41; Mar 26, 2025 $0.27; Jun 25, 2025 $0.22; Sep 24, 2025 $0.31; Dec 24, 2025 $0.21; Mar 25, 2026 $0.14; Jun 24, 2026 $0.14; Sep 23, 2026 $0.14. Use the arrow keys to read each point.$0$0.2520232026YTD
SVXYAll SVXY payments⁠

No distribution history available.

BIS vs SVXY Risk

Fall from peak · 5 years

  • BIS
  • SVXY
Oct 29, 2021 to Oct 30, 2026. Worst fall: BIS −83.2% · Aug 2026. Use the arrow keys to read each point.−80%−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
BIS 31.5%SVXY 26.5%, better
Return per unit of riskSharpe ratio, 3 years
BIS −1.52SVXY 0.42, better
Worst fallMax drawdown, 5 years
BIS −83.2%SVXY −46.4%, better
Market sensitivityBeta, 5 years
BIS −1.17SVXY 1.32

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