iPath Series B S&P 500® VIX Mid-Term Futures ETN (VXZ)

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iPath Series B S&P 500® VIX Mid-Term Futures ETN (VXZ) is up 1.5% since the beginning of the year. At $54 per share, VXZ is trading 12.5% below its 52-week high of $62. Investors who bought $1,000 worth of VXZ shares 5 years ago would now be looking at an investment worth $507.

iPath Series B S&P 500® VIX Mid-Term Futures ETN (VXZ) has returned 1.50% so far this year and -7.63% over the past 12 months.

Based on dividend-adjusted daily data since Jan 18, 2018, VXZ's average daily return is +0.01%, while the average monthly return is +0.15%. At this rate, an investment would double in approximately 38.5 years.

Historically, 51% of months were positive and 49% were negative. The best month was Mar 2020 with a return of +61.8%, while the worst month was Jun 2023 at -17.4%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 5 months.

On a daily basis, VXZ closed higher 42% of trading days. The best single day was Feb 14, 2018 with a return of +22.9%, while the worst single day was Mar 24, 2020 at -15.3%.

iPath Series B S&P 500® VIX Mid-Term Futures ETN has an annualized alpha of 21.58%, beta of -1.20, and R2 of 0.46 versus S&P 500 Index. Calculated based on daily prices since January 19, 2018.

• This stock tended to rise when S&P 500 Index fell (downside capture of -282.93%), but participation in market rallies was also limited (-62.95%) - a profile typical of counter-cyclical assets.
• Beta of -1.20 may look defensive, but with R2 of 0.46 this stock is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this stock's risk.
• R2 of 0.46 means the benchmark explains less than half of this stock's behavior - treat beta with caution or consider switching to a more representative benchmark.

VXZ has an expense ratio of 0.89%, placing it in the medium range.

VXZ ranks 23 for risk / return — below 23% of stocks on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for iPath Series B S&P 500® VIX Mid-Term Futures ETN (VXZ) and compare them to S&P 500 Index.

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.

The table below displays the maximum drawdowns of the iPath Series B S&P 500® VIX Mid-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 Mid-Term Futures ETN was 69.00%, occurring on Nov 29, 2024. The portfolio has not yet recovered.

The current iPath Series B S&P 500® VIX Mid-Term Futures ETN drawdown is 64.78%.

The chart below shows the rolling one-month volatility.

The chart below illustrates the trends in the financial health of iPath Series B S&P 500® VIX Mid-Term Futures ETN over time, highlighting three key metrics: Total Revenue, Earnings Before Interest and Taxes (EBIT), and Net Income.

The Valuation section provides an overview of how iPath Series B S&P 500® VIX Mid-Term Futures ETN is priced in the market compared to other companies in the undefined industry. It includes key financial ratios that help investors assess whether the stock is undervalued or overvalued.