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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in ProShares VIX Short-Term Futures ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
ProShares VIX Short-Term Futures ETF (VIXY) has returned 33.97% so far this year and -31.66% over the past 12 months. Over the last ten years, VIXY has returned -46.57% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
ProShares VIX Short-Term Futures ETF
- 1D
- -9.32%
- 1M
- 23.30%
- YTD
- 33.97%
- 6M
- 6.35%
- 1Y
- -31.66%
- 3Y*
- -42.53%
- 5Y*
- -45.66%
- 10Y*
- -46.57%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Jan 4, 2011, VIXY's average daily return is -0.16%, while the average monthly return is -3.73%.
Historically, 33% of months were positive and 67% were negative. The best month was Mar 2020 with a return of +101.3%, while the worst month was Nov 2020 at -35.3%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 9 months.
On a daily basis, VIXY closed higher 41% of trading days. The best single day was Aug 5, 2024 with a return of +43.1%, while the worst single day was Apr 9, 2025 at -20.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.17% | 4.31% | 23.30% | 33.97% | |||||||||
| 2025 | -3.67% | 3.23% | 12.26% | 25.63% | -16.42% | -11.16% | -11.50% | -15.02% | -8.39% | 2.26% | -5.75% | -17.64% | -43.05% |
| 2024 | -2.77% | -10.54% | -3.93% | 4.48% | -15.51% | -5.16% | 5.53% | -3.93% | 11.36% | 16.73% | -26.59% | 7.22% | -27.43% |
| 2023 | -19.60% | 1.86% | -2.90% | -16.24% | -8.97% | -27.65% | -9.17% | -5.07% | 8.27% | 0.52% | -26.30% | -10.14% | -72.74% |
| 2022 | 15.23% | 12.41% | -15.67% | 24.50% | -15.22% | 4.35% | -20.22% | 0.21% | 17.20% | -16.43% | -15.61% | -5.64% | -24.98% |
| 2021 | 25.91% | -24.57% | -28.35% | -11.98% | -13.85% | -15.09% | 2.87% | -15.83% | 9.35% | -23.29% | 18.35% | -26.71% | -72.40% |
Benchmark Metrics
ProShares VIX Short-Term Futures ETF has an annualized alpha of -1.57%, beta of -3.20, and R² of 0.62 versus S&P 500 Index. Calculated based on daily prices since January 05, 2011.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -783.75%), but participation in market rallies was also limited (-176.98%) — a profile typical of counter-cyclical assets.
- Beta of -3.20 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
- -1.57%
- Beta
- -3.20
- R²
- 0.62
- Upside Capture
- -176.98%
- Downside Capture
- -783.75%
Expense Ratio
VIXY has an expense ratio of 0.85%, placing it in the medium range.
Return for Risk
Risk / Return Rank
VIXY ranks 6 for risk / return — in the bottom 6% 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 Short-Term Futures ETF (VIXY) and compare them to a chosen benchmark (S&P 500 Index).
| VIXY | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.42 | 0.90 | -1.32 |
Sortino ratioReturn per unit of downside risk | -0.22 | 1.39 | -1.60 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.21 | -0.24 |
Calmar ratioReturn relative to maximum drawdown | -0.46 | 1.40 | -1.86 |
Martin ratioReturn relative to average drawdown | -0.59 | 6.61 | -7.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore VIXY risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
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 Short-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 Short-Term Futures ETF was 100.00%, occurring on Jan 9, 2026. The portfolio has not yet recovered.
The current ProShares VIX Short-Term Futures ETF drawdown is 100.00%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -100% | Oct 4, 2011 | 3588 | Jan 9, 2026 | — | — | — |
| -47.05% | Mar 17, 2011 | 78 | Jul 7, 2011 | 30 | Aug 18, 2011 | 108 |
| -24.07% | Jan 5, 2011 | 28 | Feb 14, 2011 | 21 | Mar 16, 2011 | 49 |
| -12.28% | Aug 23, 2011 | 5 | Aug 29, 2011 | 8 | Sep 9, 2011 | 13 |
| -10.35% | Sep 13, 2011 | 4 | Sep 16, 2011 | 4 | Sep 22, 2011 | 8 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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