- ISIN
- US06747R4772
- CUSIP
- 06747R477
- Issuer
- Barclays Capital
- Inception Date
- Jan 19, 2018
- Region
- North America (U.S.)
- Category
- Volatility
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P 500 VIX Short-Term Futures Index Total Return
- Domicile
- United Kingdom
- Distribution Policy
- Accumulating
- Asset Class
- Volatility
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $499M
Highlights
- Avg. Volume (1M)
- 8M
- Avg. Volume Value (1M)
- $176.34M
Share Price Chart
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Performance
VXX Performance Chart
iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) is down 19.7% since the beginning of the year. VXX is currently trading at $21 per share. Investors who bought $1,000 worth of VXX shares 5 years ago would now be looking at an investment worth $44.
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Returns By Period
iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) has returned -19.72% so far this year and -53.71% over the past 12 months. Over the last ten years, VXX has returned -46.29% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
iPath Series B S&P 500 VIX Short-Term Futures ETN
- 1D
- -2.61%
- 1M
- -3.58%
- 6M
- -22.73%
- YTD
- -19.72%
- 1Y
- -53.71%
- 3Y*
- -38.60%
- 5Y*
- -46.47%
- 10Y*
- -46.29%
- ALL TIME*
- -51.44%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
VXX Monthly Returns History
Based on dividend-adjusted daily data since Jan 30, 2009, VXX's average daily return is -0.20%, while the average monthly return is -4.41%.
Historically, 32% of months were positive and 68% were negative. The best month was Mar 2020 with a return of +102.8%, while the worst month was Nov 2020 at -35.2%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 12 months.
On a daily basis, VXX closed higher 41% of trading days. The best single day was Aug 5, 2024 with a return of +39.2%, while the worst single day was Apr 9, 2025 at -20.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.89% | 5.09% | 23.53% | -21.04% | -14.37% | -8.49% | -3.80% | -19.72% | |||||
| 2025 | -3.67% | 3.88% | 12.31% | 25.59% | -16.72% | -10.74% | -11.63% | -14.58% | -8.57% | 2.53% | -5.59% | -17.54% | -42.21% |
| 2024 | -2.51% | -10.38% | -4.35% | 4.93% | -15.28% | -5.29% | 5.88% | -3.78% | 11.46% | 16.67% | -26.41% | 7.55% | -26.22% |
| 2023 | -19.83% | 1.94% | -2.71% | -15.70% | -8.98% | -27.45% | -9.60% | -4.87% | 8.47% | 0.56% | -26.27% | -10.24% | -72.52% |
| 2022 | 15.54% | 12.10% | 7.08% | 7.82% | -18.59% | 2.30% | -9.27% | -8.12% | 10.24% | -16.74% | -15.52% | -5.36% | -23.80% |
| 2021 | 25.55% | -23.96% | -28.88% | -11.93% | -13.60% | -15.10% | 2.55% | -15.62% | 9.18% | -22.96% | 18.75% | -27.22% | -72.41% |
Benchmark Metrics
iPath Series B S&P 500 VIX Short-Term Futures ETN has an annualized alpha of -8.95%, beta of -2.91, and R2 of 0.59 versus S&P 500 Index. Calculated based on daily prices since January 30, 2009.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -576.78%), but participation in market rallies was also limited (-160.57%) - a profile typical of counter-cyclical assets.
- This ETF had an annualized alpha of -8.95% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Beta of -2.91 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
- -8.95%
- Beta
- -2.91
- R²
- 0.59
- Upside Capture
- -160.57%
- Downside Capture
- -576.78%
Expense Ratio
VXX has an expense ratio of 0.89%, placing it in the medium range.
Return for Risk
Risk / Return Rank
VXX ranks 2 for risk / return — above 2% of ETFs peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) 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.
| VXX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.29 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.25 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.00 | -2.92 |
| Martin ratioReturn relative to average drawdown | -1.40 | 8.49 | -9.89 |
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 iPath Series B S&P 500 VIX Short-Term Futures ETN. 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 iPath Series B S&P 500 VIX Short-Term Futures ETN was 100.00%, occurring on Jul 15, 2026. The portfolio has not yet recovered.
The current iPath Series B S&P 500 VIX Short-Term Futures ETN drawdown is 100.00%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-100.00%Jul 2026 | 17y 4mo | — | 17y 5moFeb 2009 - now | — |
-6.55%Feb 2009 | 4d | 4d | 8dFeb 2009 - Feb 2009 | Financial crisis2007–2009 |
-2.50%Feb 2009 | 2d | 4d | 6dFeb 2009 - Feb 2009 | Financial crisis2007–2009 |
Drawdown Indicators
| VXX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -56.78% | -43.22% |
Max Drawdown (1Y)Largest decline over 1 year | -54.59% | -9.10% | -45.49% |
Max Drawdown (3Y)Largest decline over 3 years | -80.75% | -18.90% | -61.85% |
Max Drawdown (5Y)Largest decline over 5 years | -95.66% | -25.43% | -70.23% |
Max Drawdown (10Y)Largest decline over 10 years | -99.80% | -33.92% | -65.88% |
Current DrawdownCurrent decline from peak | -100.00% | -1.58% | -98.42% |
Average DrawdownAverage peak-to-trough decline | -95.11% | -10.70% | -84.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.70% | 2.14% | +33.56% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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