Which came closer to its stated multiple, SVIX or UVIX?

Over the window to Sep 30, 2026, SVIX finished 0.4 points from what its multiple implies and UVIX finished 1.6 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 37% annualized and UVIX’s at 37%, 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.

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SVIX vs UVIX: which held to its multiple?

Over three months against its own daily promise, SVIX finished 0.9 points short and UVIX 0.8 points short. -1x Short VIX Futures ETF and 2x Long VIX Futures ETF.

+21.7%

SVIX returned, 3 months

−41.0%

UVIX returned, 3 months

+0.4 pts

SVIX from its stated multiple

+1.6 pts

UVIX from its stated multiple

SVIX · 3 months to Sep 30, 2026On its stated multiple

SVIX returned +21.7% while −1 times VIXY's move would have been +21.3%

UVIX · 3 months to Sep 30, 20261.6 pts ahead of its stated multiple

UVIX returned −41.0% while 2 times VIXY's move would have been −42.6%

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

SVIX among the 125 inverse ETFs over three months

SVIX 9.2

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

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

UVIX 97.1

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

A percentile among the 125 inverse ETFs over three months. UVIX is a percentile among the 470 leveraged ETFs, long, 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	SVIX	UVIX	SVIX	UVIX	SVIX	UVIX
1 month	+1.2%	−6.2%	+2.0%	−3.9%	−0.7 pts	−2.3 pts
3 months	+21.7%	−41.0%	+21.3%	−42.6%	+0.4 pts	+1.6 pts
6 months	+79.0%	−77.7%	+49.5%	−99.1%	+29.5 pts	+21.3 pts
1 year	+34.4%	−81.4%	+47.5%	−95.1%	−13.2 pts	+13.7 pts
3 years	+3.0%	−99.5%	+81.8%	−163.6%	−78.8 pts	+64.2 pts
Since launch SVIX Mar 2022 · UVIX Mar 2022	+94.3%	−100.0%	+94.6%	−189.3%	−0.4 pts	+89.3 pts

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

On the same fields

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 Volatility Shares Volatility Shares

Sets out to return -1x +2x

Underlying asset VIXY VIXY

Segment volatility volatility

Fund returned, 3 months or since launch +21.7% −41.0%

Underlying returned, over that window −21.3% −21.3%

What the stated multiple implies, over that window +21.3% −42.6%

Difference from stated, over that window +0.4 pts +1.6 pts

Fund returned, 1 year or since launch +34.4% −81.4%

Difference from stated, over that window −13.2 pts +13.7 pts

Underlying volatility 37% 37%

Expense ratio not published not published

Launched Mar 30, 2022 Mar 30, 2022

Net assets $138m $173m

SVIX and UVIX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

SVIX in plain words

Three months to Sep 30, 2026: SVIX returned +21.7% where its own daily promise gave +22.6%, 0.9 points short. Read the multiple against the whole window instead and −1 times VIXY's −21.3% implies +21.3%, which makes SVIX look 0.4 points over. 1.3 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 37% 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 30, 2026: UVIX returned −41.0% where its own daily promise gave −40.2%, 0.8 points short. Read the multiple against the whole window instead and 2 times VIXY's −21.3% implies −42.6%, which makes UVIX look 1.6 points over. 2.3 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 30, 2026, SVIX finished 0.4 points from what its multiple implies and UVIX finished 1.6 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 37% annualized and UVIX’s at 37%, 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.

Other comparisons

SVIX on its own →UVIX on its own →How every figure is computed →Standards and sources →

Where these figures came from

Volatility Shares page for SVIX ↗Volatility Shares page for UVIX ↗

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, SVIX against UVIX, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/svix-vs-uvix

Open data

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