ProShares UltraShort Nasdaq Biotechnology (BIS) Performance
BIS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −37.8% since Dec 31, 2025
- 1 year
- −49.2% total return
- 5 years
- −19.4% a year
- 10 years
- −26.6% a year
- Since first price
- −32.9% a year since 2010
BIS trailing returns vs SPY, QQQ, AGG
| Period | BIS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.3% | −0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −15.3% | −16.4% | +3.2% | +1.9% | −0.4% |
| 6 months | −30.6% | −32.1% | +7.8% | +8.4% | −1.5% |
| YTD | −37.8% | −39.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −49.2% | −51.1% | +14.4% | +15.9% | −1.1% |
| 3 years | −74.2%−36.4%/yr | −77.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −66.0%−19.4%/yr | −69.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −95.5%−26.6%/yr | −96.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −99.8%−33.8%/yr | −99.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionApr 8, 2010 | −99.9%−32.9%/yr | −99.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BIS vs SPY
From Apr 8, 2010: BIS grew to $14, SPY to $85,597.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BIS returns by calendar year
3 of 15 full years positive. Best 2016 (+21.9%), worst 2013 (−68.9%). 2026 is year to date.
BIS annual returns table
| Year | BIS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −37.8% | −45.8% | +12.3% | +15.1% | −1.0% |
| 2025 | −46.0% | −61.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +4.8% | −31.2% | +24.9% | +25.6% | +1.3% |
| 2023 | −6.5% | −32.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −2.1% | −48.5% | −18.2% | −32.6% | −13.0% |
| 2021 | −14.7% | −34.1% | +28.7% | +27.4% | −1.8% |
| 2020 | −56.0% | −71.8% | +18.3% | +48.6% | +7.5% |
| 2019 | −41.0% | −42.8% | +31.2% | +39.0% | +8.5% |
| 2018 | +5.1% | −33.4% | −4.6% | −0.1% | +0.1% |
| 2017 | −37.0% | −41.4% | +21.7% | +32.7% | +3.6% |
| 2016 | +21.9% | −44.8% | +12.0% | +7.1% | +2.4% |
| 2015 | −37.6% | −47.8% | +1.2% | +9.4% | +0.5% |
| 2014 | −55.4% | −59.7% | +13.5% | +19.2% | +6.0% |
| 2013 | −68.9% | −66.8% | +32.3% | +36.6% | −2.0% |
| 2012 | −49.1% | −54.7% | +16.0% | +18.1% | +3.8% |
| 2011 | −35.8% | −42.2% | +1.9% | +3.4% | +7.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BIS largest drawdowns
Now 99.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 6, 2010 | −99.9% | Aug 19, 2026 | not yet | 16.1 years | 16.3 years so far |
| Jun 9, 2010 | −13.0% | Jun 15, 2010 | Jul 1, 2010 | 6 days | 22 days |
| May 6, 2010 | −11.8% | May 12, 2010 | May 20, 2010 | 6 days | 14 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BIS risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2010 |
|---|---|---|---|---|
| Annualized return | −34.6% | −19.0% | −25.8% | −33.2% |
| Volatility (annualized) | 33.2% | 34.0% | 37.3% | 39.6% |
| Sharpe ratio | -1.23 | -0.55 | -0.66 | -0.85 |
| Sortino ratio | -1.36 | -0.72 | -0.84 | -1.08 |
| Best month | +16.2% | +25.6% | +33.3% | +53.7% |
| Worst month | −21.7% | −21.7% | −27.8% | −27.8% |
| Best 12 months | +11.9% | +40.1% | +49.1% | +49.1% |
| Worst 12 months | −60.1% | −60.1% | −65.6% | −73.8% |
| Positive months | 33% | 43% | 42% | 38% |
| Beta vs S&P 500 | -1.15 | -1.17 | -1.39 | — |
| Correlation with S&P 500 | -0.43 | -0.54 | -0.57 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BIS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 187 | −73.8% | −35.6% | +49.1% | 19% |
| 3-year (a year) | 163 | −59.6% | −28.7% | −1.0% | 0% |
| 5-year (a year) | 139 | −55.2% | −25.8% | −9.7% | 0% |
| 10-year (a year) | 79 | −41.1% | −28.4% | −16.0% | 0% |
Every holding period starting at a month-end since 2010. Returns for 3 years and longer are annualized.
BIS performance overview
ProShares UltraShort Nasdaq Biotechnology (BIS) returned −49.2% over the past year and −26.6% a year over ten years, with distributions reinvested. Since its first recorded price in 2010 it has returned −32.9% a year, turning $10,000 into about $14. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.9%, from Jul 6, 2010 to Aug 19, 2026; the fund has not yet regained that high. BIS finished 3 of its 15 full calendar years with a gain; the best year was 2016 (+21.9%) and the worst 2013 (−68.9%). Volatility has been 39.6% a year.
Related: BIS chart, BIS holdings, BIS dividends. See the BIS overview for the latest quote and fund facts.
BIS performance FAQ
What is the BIS return over the past year?
BIS returned −49.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 51.1%.
What is the average annual return of BIS?
BIS has returned −19.4% a year over 5 years, −26.6% a year over 10 years, −32.9% a year since April 8, 2010 (total return, distributions reinvested).
How much would $10,000 invested in BIS be worth?
$10,000 invested in BIS at its first recorded close on April 8, 2010 would be worth about $14 on October 23, 2026 with distributions reinvested.
What was the worst year for BIS?
The worst calendar year was 2013, with a total return of −68.9%. The best was 2016 at +21.9%.
What is the biggest drawdown of BIS?
The largest peak-to-trough decline was −99.9% between July 6, 2010 and August 19, 2026. It has not yet recovered to that high; it is 99.9% below its peak.
How volatile is BIS?
Over the past 3 years BIS had an annualized volatility of 33.2% and a Sharpe ratio of -1.23 (excess return over 1–3 month T-bills per unit of risk).