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BZQ vs SVXY

ProShares UltraShort MSCI Brazil Capped

BZQCNYSE Arca

ProShares Short VIX Short-Term Futures ETF

SVXYBCboe

Overlap

Expense ratio

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

BZQ0.95%SVXY0.95%

Avg volume · 30D

SVXY 142.7×the volume

BZQ10.4KSVXY1.49M

10Y return · a year

SVXY +31.6pt

BZQ−32.8%SVXY−1.2%

BZQ vs SVXY Performance

Nov 2, 2021 – Nov 2, 2026

−84.3%BZQ+92.6%SVXY

Nov 2, 2021 to Nov 2, 2026. BZQ −84.3%. SVXY +92.6%. Use the arrow keys to read each point.−50%0%50%Nov 2021May 2024Nov 2026
Expense ratio
BZQ 0.95%
SVXY 0.95%
Fund size
BZQ $2M
SVXY $201M
1Y total return
BZQ −35.0%
SVXY +21.8%, better
Yield (12M)
BZQ 6.74%
SVXY No data
Holdings
BZQ 1
SVXY 1
Avg volume (30D)
BZQ 10.4K sh
SVXY 1.49M sh, better
NAV per share
BZQ $21.30
SVXY $60.51
52W range

ETF.net Grade

BZQ: Cost 50, Risk 37, Mission not scored, Tradability 30, Holdings not scored, Durability 41. SVXY: Cost 50, Risk 75, Mission not scored, Tradability 84, Holdings not scored, Durability 76.
Pillar letters and Scores for BZQ, SVXY, with each pillar’s weight
PillarBZQSVXY
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightD37A75Higher
Tradability15% weightD30A84Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC41A76Higher

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. BZQ 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 BZQ 32nd of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BPSQProShares Short QQQScore 65
  3. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  4. Rank 4BRWMProShares Short Russell2000Score 63
  5. Rank 31CJDSTDirexion Daily Junior Gold Miners Index Bear 2X ETFScore 41
  6. Rank 32CBZQProShares UltraShort MSCI Brazil CappedScore 40
  7. Rank 32CEEVProShares UltraShort MSCI Emerging MarketsScore 40

Our read on each fund

ETF.net Research

BZQCProShares UltraShort MSCI Brazil Capped

SVXYBProShares Short VIX Short-Term Futures ETF

In short

BZQ The only US ETF built to deliver twice the inverse of Brazil's large-cap index, and it has done that job since 2009. A one-day instrument, priced at 0.95% net of a waiver through September 30, 2027.

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

BZQ BZQ seeks daily results corresponding to two times the inverse performance of the MSCI Brazil 25/50 Index, before fees and expenses.

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

  • BZQ ProShares calls it the only -2x ETF designed to profit from declines in Brazilian stocks: one ticker instead of stacked single-name shorts or futures.proshares.com
  • 0.95% net of a waiver through September 30, 2027, near the category norm and level with ProShares' index shorts PSQ and DOG (each 0.95% net, waived to the same date).
  • Trading since June 2009, which covers several full Brazil boom-and-bust cycles. Old plumbing, well-worn mechanism.
  • The mandate is narrow and literal: -2x the daily move of the MSCI Brazil 25/50 Index, before fees and expenses. No manager calls, no hedging overlay.
  • 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

  • BZQ The objective resets daily. Hold past a day and compounding takes over, so longer-run results can drift well away from -2x, especially when Brazil whipsaws.proshares.com
  • Gross expenses run 2.71%; the 0.95% net depends on a waiver running through September 30, 2027.
  • Assets are small and trading is light for the category, so bid-ask spreads and order size matter more here than in a large index short.
  • 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 BZQ profile⁠

Full SVXY profile⁠

BZQ 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.

BZQ vs SVXY Cost

Same expense ratio

$17,869

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

  • BZQ 0.95%

    $17,869

  • SVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • BZQ 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$20K051015202530BZQ $17,869SVXY $17,869

Year by year

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

Expense ratio

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

BZQ 6th cheapest of 53 funds

SVXY 6th cheapest of 53 funds

BZQ vs SVXY Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
BZQ 6.74%
SVXY No data
Payout (12M)
BZQ $1.46
SVXY None
Last payment
BZQ $0.30
SVXY No data
Ex-dividend
BZQ Sep 23, 2026
SVXY No data
Paid on
BZQ Sep 29, 2026
SVXY No data
Frequency
BZQ Quarterly
SVXY No data

Distribution history

Per share, 2018 to 2026, same scale for both

BZQQuarterly · 22 paymentsAll BZQ payments⁠
One bar per payment. 22 payments from 2018 to 2026 YTD. Dec 26, 2018 $1.61; Mar 20, 2019 $1.65; Jun 25, 2019 $1.46; Sep 25, 2019 $1.81; Dec 24, 2019 $1.31; Mar 25, 2020 $0.30; Dec 22, 2022 $0.18; Mar 22, 2023 $0.39; Jun 21, 2023 $0.47; Sep 20, 2023 $0.45; Dec 20, 2023 $0.50; Mar 20, 2024 $0.30; Jun 26, 2024 $0.40; Sep 25, 2024 $0.85; Dec 23, 2024 $0.95; Mar 26, 2025 $0.40; Jun 25, 2025 $0.35; Sep 24, 2025 $0.49; Dec 24, 2025 $0.59; Mar 25, 2026 $0.25; Jun 24, 2026 $0.32; Sep 23, 2026 $0.30. Use the arrow keys to read each point.$0$2202020232026YTD
SVXYAll SVXY payments⁠

No distribution history available.

BZQ vs SVXY Risk

Fall from peak · 5 years

  • BZQ
  • SVXY
Nov 2, 2021 to Nov 2, 2026. Worst fall: BZQ −90.7% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
BZQ 44.6%SVXY 26.5%, better
Return per unit of riskSharpe ratio, 3 years
BZQ −0.54SVXY 0.42, better
Worst fallMax drawdown, 5 years
BZQ −90.7%SVXY −46.4%, better
Market sensitivityBeta, 5 years
BZQ −0.58SVXY 1.32

BZQ and SVXY in the news

All news⁠

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