- ISIN
- US74347W3381
- CUSIP
- 74347W338
- Issuer
- ProShares
- Inception Date
- Jan 3, 2011
- Region
- North America (U.S.)
- Category
- Volatility
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P 500 VIX Mid-Term Futures Index
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Volatility
- Assets Under Management
- $43M
Share Price Chart
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Performance
VIXM Performance Chart
ProShares VIX Mid-Term Futures ETF (VIXM) is down 2.4% since the beginning of the year. VIXM is currently trading at $15 per share. Investors who bought $1,000 worth of VIXM shares 5 years ago would now be looking at an investment worth $487.
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Returns By Period
ProShares VIX Mid-Term Futures ETF (VIXM) has returned -2.42% so far this year and -13.67% over the past 12 months. Over the last ten years, VIXM has returned -12.34% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
ProShares VIX Mid-Term Futures ETF
- 1D
- -0.47%
- 1M
- -5.28%
- YTD
- -2.42%
- 6M
- -0.07%
- 1Y
- -13.67%
- 3Y*
- -12.09%
- 5Y*
- -13.41%
- 10Y*
- -12.34%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
VIXM Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2011, VIXM's average daily return is -0.06%, while the average monthly return is -1.27%.
Historically, 38% of months were positive and 62% were negative. The best month was Mar 2020 with a return of +62.9%, while the worst month was Jun 2023 at -18.0%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 13 months.
On a daily basis, VIXM closed higher 45% of trading days. The best single day was Aug 5, 2024 with a return of +22.6%, while the worst single day was Aug 6, 2024 at -14.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.33% | 2.42% | 9.31% | -8.40% | -2.23% | -2.99% | -2.42% | ||||||
| 2025 | 1.38% | 3.07% | 4.90% | 13.88% | -5.60% | -1.64% | 0.06% | -2.50% | -3.24% | 2.78% | -1.08% | -5.07% | 5.60% |
| 2024 | -3.82% | -3.29% | 1.73% | -3.03% | -9.56% | 3.09% | 0.49% | 0.14% | 4.79% | 3.24% | -11.92% | 5.24% | -13.67% |
| 2023 | -17.23% | 3.10% | 3.51% | -0.15% | -6.72% | -18.03% | -5.40% | -1.45% | 1.68% | 4.89% | -15.47% | -2.67% | -44.83% |
| 2022 | -0.13% | 5.11% | -1.84% | 11.40% | -2.14% | 3.03% | -8.68% | 3.34% | 6.32% | -6.68% | -6.67% | -1.81% | -0.69% |
| 2021 | 15.94% | -2.94% | -15.11% | -2.57% | -5.94% | -4.95% | 3.77% | -3.60% | 5.76% | -5.88% | 7.99% | -6.91% | -16.70% |
Benchmark Metrics
ProShares VIX Mid-Term Futures ETF has an annualized alpha of 3.94%, beta of -1.43, and R2 of 0.57 versus S&P 500 Index. Calculated based on daily prices since January 04, 2011.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -248.97%), but participation in market rallies was also limited (-97.79%) - a profile typical of counter-cyclical assets.
- This ETF generated an annualized alpha of 3.94% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of -1.43 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 3.94%
- Beta
- -1.43
- R²
- 0.57
- Upside Capture
- -97.79%
- Downside Capture
- -248.97%
Expense Ratio
VIXM has an expense ratio of 0.85%, placing it in the medium range.
Return for Risk
Risk / Return Rank
VIXM ranks 2 for risk / return — in the bottom 2% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares VIX Mid-Term Futures ETF (VIXM) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VIXM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.76 | ||
| Sortino ratioReturn per unit of downside risk | -3.68 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.37 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 2.78 | -3.67 |
| Martin ratioReturn relative to average drawdown | -1.64 | 12.44 | -14.07 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares VIX Mid-Term Futures ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ProShares VIX Mid-Term Futures ETF was 96.23%, occurring on Nov 29, 2024. The portfolio has not yet recovered.
The current ProShares VIX Mid-Term Futures ETF drawdown is 95.91%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2024 bear market2024 | -96.23%Nov 2024 | 13y 2mo | — | 14y 8moOct 2011 - now |
2011 bear market2011 | -27.67%Jul 2011 | 6mo 3d | 2mo 4d | 8mo 7dJan 2011 - Sep 2011 |
2011 pullback2011 | -3.37%Sep 2011 | 1d | 7d | 8dSep 2011 - Sep 2011 |
2011 pullback2011 | -2.88%Sep 2011 | 4d | 1d | 5dSep 2011 - Sep 2011 |
2011 pullback2011 | -0.75%Sep 2011 | 0s | 1d | 1dSep 2011 - Sep 2011 |
Drawdown Indicators
| VIXM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.23% | -56.78% | -39.45% |
Max Drawdown (1Y)Largest decline over 1 year | -15.53% | -9.10% | -6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -37.35% | -18.90% | -18.45% |
Max Drawdown (5Y)Largest decline over 5 years | -63.40% | -25.43% | -37.97% |
Max Drawdown (10Y)Largest decline over 10 years | -75.56% | -33.92% | -41.64% |
Current DrawdownCurrent decline from peak | -95.91% | -1.80% | -94.11% |
Average DrawdownAverage peak-to-trough decline | -81.54% | -10.71% | -70.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.50% | 2.03% | +6.47% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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