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UVXY ETF — ProShares Ultra VIX Short-Term Futures ETF
ProShares Ultra VIX Short-Term Futures ETF (UVXY)
Updated October 23, 2026.
UVXY is an ETF. Its expense ratio is 1.23%. Total return is -100.0% over the past 15.1 years, 878.5 points behind SPY at 778.5%.
ProShares Ultra VIX Short-Term Futures ETF seeks daily investment results that correspond to twice (2x) the daily performance of short-term VIX futures contracts, making it a leveraged tool designed to amplify exposure to volatility spikes in equity markets. The fund carries a 1.23% expense ratio and does not make distributions to shareholders. This ETF appeals primarily to experienced traders and tactical investors seeking short-term hedging strategies or volatility exposure rather than traditional income or long-term growth investors.
UVXY performance versus SPY
Total return is -100.0% over the past 15.1 years, 878.5 points behind SPY at 778.5%. Over the past year its total return — price change plus distributions reinvested — is -64.1%. Its deepest 1-year drawdown was 75.7%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 10.1% | — |
| 3M | -26.9% | — |
| 6M | -51.9% | — |
| YTD | -47.8% | — |
| 1Y | -64.1% | — |
| 2Y CAGR | — | -63.30% |
| 3Y CAGR | — | -65.50% |
| 5Y CAGR | — | -66.10% |
| 10Y CAGR | — | -66.30% |
| Since inception (15.1 years) | -100.0% | -51.50% |
UVXY key facts
- Issuer
- ProShares
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 10/03/2011
- Expense ratio
- 1.23%
- Distribution frequency
- None
- Last close
- $18.76 (as of 2026-10-23)
- AUM
- $242,998,134
- Average volume
- 20,030,600
How Dividend Vision calculates returns
Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.
Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology
Sources and review
Primary sources: ProShares; prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
UVXY risks and drawbacks
Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 75.7%.
Who may consider UVXY — and who may not
It is a weaker fit for investors who need monthly cash flow (UVXY does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.
More on UVXY
Frequently asked questions
Does UVXY pay monthly?
No. UVXY does not currently distribute.
What is UVXY's expense ratio?
UVXY's expense ratio is 1.23%.
When does UVXY pay a dividend?
UVXY does not currently distribute.
How has UVXY performed?
Total return is -100.0% over the past 15.1 years, 878.5 points behind SPY at 778.5%. Over the past year its total return — price change plus distributions reinvested — is -64.1%. Its deepest 1-year drawdown was 75.7%.
More securities from ProShares.
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