^VIX vs. ANGL

Last updated Jul 11, 2026

^VIX (CBOE Volatility Index) is an index, while ANGL (VanEck Fallen Angel High Yield Bond ETF) is High Yield Bonds fund tracking the ICE US Fallen Angel High Yield 10% Constrained Index. Over the past 10 years, ^VIX returned 1.04%/yr vs 5.86%/yr for ANGL. At a correlation of -0.44, they often move in opposite directions.

Performance

^VIX vs. ANGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CBOE Volatility Index (^VIX) and VanEck Fallen Angel High Yield Bond ETF (ANGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^VIX achieves a 0.54% return, which is significantly lower than ANGL's 2.15% return. Over the past 10 years, ^VIX has underperformed ANGL with an annualized return of 1.04%, while ANGL has yielded a comparatively higher 5.86% annualized return.

^VIX

• 1D: -5.11%
• 1M: -14.99%
• 6M: 3.73%
• YTD: 0.54%
• 1Y: -8.35%
• 3Y*: 0.42%
• 5Y*: -1.46%
• 10Y*: 1.04%

ANGL

• 1D: -0.21%
• 1M: 0.28%
• 6M: 1.44%
• YTD: 2.15%
• 1Y: 6.73%
• 3Y*: 8.26%
• 5Y*: 2.93%
• 10Y*: 5.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^VIX vs. ANGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^VIX CBOE Volatility Index	0.54%	-13.83%	39.36%	-42.55%	25.84%	-24.31%	65.09%	-45.79%	130.25%	-21.37%
ANGL VanEck Fallen Angel High Yield Bond ETF	2.15%	9.04%	6.06%	12.52%	-14.26%	6.84%	13.20%	18.06%	-5.84%	9.71%

Correlation

The correlation between ^VIX and ANGL is -0.56, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.56
Correlation (3Y) Calculated over the trailing 3-year period	-0.54
Correlation (5Y) Calculated over the trailing 5-year period	-0.54
Correlation (10Y) Calculated over the trailing 10-year period	-0.52
Correlation (All Time) Calculated using the full available price history since Apr 11, 2012	-0.44

The correlation between ^VIX and ANGL shifts across timeframes, from -0.56 (1 year) to -0.44 (all time), reflecting how their relationship changes across market environments.

Return for Risk

^VIX vs. ANGL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^VIX

^VIX Risk / Return Rank: 11
^VIX Sharpe Ratio Rank: 3
^VIX Sortino Ratio Rank: 23
^VIX Omega Ratio Rank: 22
^VIX Calmar Ratio Rank: 3
^VIX Martin Ratio Rank: 3

ANGL

ANGL Risk / Return Rank: 53
ANGL Sharpe Ratio Rank: 56
ANGL Sortino Ratio Rank: 57
ANGL Omega Ratio Rank: 61
ANGL Calmar Ratio Rank: 39
ANGL Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^VIX vs. ANGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CBOE Volatility Index (^VIX) and VanEck Fallen Angel High Yield Bond ETF (ANGL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	^VIX	ANGL	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	1.53	-1.56
Sortino ratio: Return per unit of downside risk	0.91	2.19	-1.28
Omega ratio: Gain probability vs. loss probability	1.10	1.30	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.09	1.62	-1.72
Martin ratio: Return relative to average drawdown	-0.15	6.83	-6.98

^VIX vs. ANGL - Sharpe Ratio Comparison

The current ^VIX Sharpe Ratio is -0.04, which is lower than the ANGL Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of ^VIX and ANGL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

^VIX vs. ANGL - Drawdown Comparison

The maximum ^VIX drawdown since its inception was -88.70%, which is greater than ANGL's maximum drawdown of -29.31%. Use the drawdown chart below to compare losses from any high point for ^VIX and ANGL.

Drawdown Indicators

	^VIX	ANGL	Difference
Max Drawdown Largest peak-to-trough decline	-88.70%	-29.31%	-59.39%
Max Drawdown (1Y) Largest decline over 1 year	-51.59%	-4.05%	-47.54%
Max Drawdown (3Y) Largest decline over 3 years	-74.26%	-5.48%	-68.78%
Max Drawdown (5Y) Largest decline over 5 years	-74.26%	-19.25%	-55.01%
Max Drawdown (10Y) Largest decline over 10 years	-85.66%	-29.31%	-56.35%
Current Drawdown Current decline from peak	-81.82%	-0.51%	-81.31%
Average Drawdown Average peak-to-trough decline	-64.09%	-3.28%	-60.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.23%	0.96%	+31.27%

Volatility

^VIX vs. ANGL - Volatility Comparison

CBOE Volatility Index (^VIX) has a higher volatility of 34.01% compared to VanEck Fallen Angel High Yield Bond ETF (ANGL) at 1.02%. This indicates that ^VIX's price experiences larger fluctuations and is considered to be riskier than ANGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^VIX	ANGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.01%	1.02%	+32.99%
Volatility (6M) Calculated over the trailing 6-month period	91.72%	3.57%	+88.15%
Volatility (1Y) Calculated over the trailing 1-year period	123.59%	4.31%	+119.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	127.41%	7.63%	+119.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	136.37%	9.23%	+127.14%

Frequently Asked Questions

Can I hold both ^VIX and ANGL in my portfolio?

^VIX and ANGL have a correlation of -0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^VIX or ANGL?

^VIX has higher volatility (34.01%) compared to ANGL (1.02%). In terms of maximum drawdown, ^VIX dropped -88.70% vs ANGL's -29.31%.

Which has better risk-adjusted returns?

ANGL currently has the higher Sharpe Ratio (1.53 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.