Which came closer to its stated multiple, BIB or BIS?

Over the window to Sep 30, 2026, BIB finished 6.8 points from what its multiple implies and BIS finished 4.5 points from its own, so BIS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are BIB and BIS levered on the same thing?

Yes. Both are levered on iShares Biotechnology ETF, BIB at +2 times and BIS at -2 times the daily move.

Which one decays faster, BIB or BIS?

Decay follows how much the underlying moves about. Over this window BIB’s moved at 24% annualized and BIS’s at 24%, so BIB has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold BIB or BIS 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.

Which is cheaper, BIB or BIS?

BIB charges 0.95% a year and BIS charges 0.95%, so BIB is cheaper. Fees come from each fund's prospectus.

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BIB vs BIS: which held to its multiple?

Over three months against its own daily promise, BIB finished 6.2 points short and BIS 5.1 points over. ProShares Ultra Nasdaq Biotechnology and ProShares UltraShort Nasdaq Biotechnology.

+14.7%

BIB returned, 3 months

−17.0%

BIS returned, 3 months

−6.8 pts

BIB from its stated multiple

+4.5 pts

BIS from its stated multiple

BIB · 3 months to Sep 30, 20266.8 pts short of its stated multiple

BIB returned +14.7% while 2 times IBB's move would have been +21.5%

BIS · 3 months to Sep 30, 20264.5 pts ahead of its stated multiple

BIS returned −17.0% while −2 times IBB's move would have been −21.5%

ETFIQ Decay Resistance Score · BIS scores higherDid it keep up with its own daily multiple, compounded day by day?

BIB among the 470 leveraged ETFs, long, over three months

BIB 8.3

0.1, the lowest in this set99.9, the highest

BIS among the 125 inverse ETFs over three months

BIS 99.6

0.4, the lowest in this set99.6, the highest

A percentile among the 470 leveraged ETFs, long, over three months. BIS is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. 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

	Total return		Multiple would give		Difference
Window	BIB	BIS	BIB	BIS	BIB	BIS
1 month	−0.9%	−0.1%	+1.4%	−1.4%	−2.3 pts	+1.4 pts
3 months	+14.7%	−17.0%	+21.5%	−21.5%	−6.8 pts	+4.5 pts
6 months	+39.9%	−34.4%	+47.5%	−47.5%	−7.6 pts	+13.2 pts
1 year	+94.3%	−55.6%	+92.2%	−92.2%	+2.0 pts	+36.6 pts
3 years	+147.5%	−72.1%	+146.8%	−146.8%	+0.7 pts	+74.7 pts
Since launch BIB Apr 2010 · BIS Apr 2010	+1483.7%	−99.9%	not meaningful	not meaningful	not meaningful	not meaningful

BIB and BIS over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

BIB

ProShares Ultra Nasdaq Biotechnology · Aims to return twice the daily move of iShares Biotechnology ETF (IBB)

BIS

ProShares UltraShort Nasdaq Biotechnology · Aims to return twice the opposite of the daily move of iShares Biotechnology ETF (IBB)

Issuer ProShares ProShares

Sets out to return +2x -2x

Underlying asset IBB IBB

Segment sector sector

Fund returned, 3 months or since launch +14.7% −17.0%

Underlying returned, over that window +10.7% +10.7%

What the stated multiple implies, over that window +21.5% −21.5%

Difference from stated, over that window −6.8 pts +4.5 pts

Fund returned, 1 year or since launch +94.3% −55.6%

Difference from stated, over that window +2.0 pts +36.6 pts

Underlying volatility 24% 24%

Expense ratio 0.95% 0.95%

Launched Apr 8, 2010 Apr 8, 2010

Net assets $97m $2m

BIB and BIS on the same fields, as of Sep 30, 2026. Source: ETFIQ.

BIB in plain words

Three months to Sep 30, 2026: BIB returned +14.7% where its own daily promise gave +20.9%, 6.2 points short. Read the multiple against the whole window instead and 2 times IBB's 10.7% implies +21.5%, which makes BIB look 6.8 points short. 0.6 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. BIB aims to return +2 times IBB's move each day, then resets. Over one day it does that. 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. IBB moved at 24% 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.

BIS in plain words

Three months to Sep 30, 2026: BIS returned −17.0% where its own daily promise gave −22.1%, 5.1 points over. Read the multiple against the whole window instead and −2 times IBB's 10.7% implies −21.5%, which makes BIS look 4.5 points over. 0.6 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. BIS aims to return -2 times IBB'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, BIB or BIS?: Over the window to Sep 30, 2026, BIB finished 6.8 points from what its multiple implies and BIS finished 4.5 points from its own, so BIS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are BIB and BIS levered on the same thing?: Yes. Both are levered on iShares Biotechnology ETF, BIB at +2 times and BIS at -2 times the daily move.
Which one decays faster, BIB or BIS?: Decay follows how much the underlying moves about. Over this window BIB’s moved at 24% annualized and BIS’s at 24%, so BIB has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold BIB or BIS 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.
Which is cheaper, BIB or BIS?: BIB charges 0.95% a year and BIS charges 0.95%, so BIB is cheaper. Fees come from each fund's prospectus.

Other comparisons

IBB →BIB on its own →BIS on its own →How every figure is computed →Standards and sources →

Where these figures came from

BIB and BIS filings on SEC EDGAR ↗BIB and BIS prospectus with the expense ratio (SEC) ↗ProShares page for BIB ↗ProShares page for BIS ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, BIB against BIS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/bib-vs-bis

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.