Data as of .
SVIX vs UVIX: which held to its multiple?
Over three months against its own daily promise, SVIX finished 1.3 points short and UVIX 0.9 points short.
ETFIQ Decay Resistance Score: UVIX scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 121 inverse ETFs over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| SVIX | UVIX | SVIX | UVIX | SVIX | UVIX | |
| 1 month | +6.6% | −15.6% | +7.8% | −15.7% | −1.2 pts | +0.1 pts |
| 3 months | +27.5% | −48.2% | +25.7% | −51.4% | +1.8 pts | +3.2 pts |
| 6 months | +69.2% | −77.9% | +48.9% | −97.9% | +20.3 pts | +20.0 pts |
| 1 year | +33.0% | −81.2% | +47.1% | −94.3% | −14.2 pts | +13.1 pts |
| 3 years | −11.8% | −99.3% | +79.3% | −158.7% | −91.1 pts | +59.3 pts |
| Since launch | +90.1% | −100.0% | +94.5% | −189.0% | −4.4 pts | +89.1 pts |
| SVIX -1x Short VIX Futures ETF Aims to return 1 times the opposite of the daily move of ProShares VIX Short-Term Futures ETF (VIXY) | UVIX 2x Long VIX Futures ETF Aims to return twice the daily move of ProShares VIX Short-Term Futures ETF (VIXY) | |
|---|---|---|
| Issuer | not established | not established |
| Sets out to return | -1x | +2x |
| On | VIXY | VIXY |
| Segment | volatility | volatility |
| Fund returned, 3 months | +27.5% | −48.2% |
| Underlying returned, 3 months | −25.7% | −25.7% |
| What the stated multiple implies, 3 months | +25.7% | −51.4% |
| Difference from stated, 3 months | +1.8 pts | +3.2 pts |
| Fund returned, 1 year or since launch | +33.0% | −81.2% |
| Difference from stated, over that window | −14.2 pts | +13.1 pts |
| Underlying volatility | 42% | 42% |
| Expense ratio | not published | not published |
| Launched | Mar 30, 2022 | Mar 30, 2022 |
SVIX in plain words
Three months to Sep 11, 2026: SVIX returned +27.5% where its own daily promise gave +28.7%, 1.3 points short. Read the multiple against the whole window instead and −1 times VIXY's −25.7% implies +25.7%, which makes SVIX look 1.8 points over. 3.0 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. SVIX aims to return -1 times VIXY's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. VIXY moved at 42% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
UVIX in plain words
Three months to Sep 11, 2026: UVIX returned −48.2% where its own daily promise gave −47.3%, 0.9 points short. Read the multiple against the whole window instead and +2 times VIXY's −25.7% implies −51.4%, which makes UVIX look 3.2 points over. 4.2 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. UVIX aims to return +2 times VIXY's move each day, then resets. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.
Questions people ask
- Which came closer to its stated multiple, SVIX or UVIX?
- Over the window to Sep 11, 2026, SVIX finished 1.8 points from what its multiple implies and UVIX finished 3.2 points from its own, so SVIX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SVIX and UVIX levered on the same thing?
- Yes. Both are levered on ProShares VIX Short-Term Futures ETF, SVIX at -1 times and UVIX at +2 times the daily move.
- Which one decays faster, SVIX or UVIX?
- Decay follows how much the underlying moves about. Over this window SVIX’s moved at 42% annualized and UVIX’s at 42%, so SVIX has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SVIX or UVIX for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Cite this page. ETFIQ, SVIX against UVIX, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/SVIX-UVIX Free to use with attribution; the underlying files are at Open data.