^VVIX vs. QQQ
^VVIX (Cboe VVIX Index) is an index, while QQQ (Invesco QQQ ETF) is Nasdaq-100 fund tracking the NASDAQ-100 Index. Over the past 10 years, ^VVIX returned 0.49%/yr vs 21.32%/yr for QQQ. At a correlation of -0.57, they often move in opposite directions.
Performance
^VVIX vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, ^VVIX achieves a 0.93% return, which is significantly lower than QQQ's 17.43% return. Over the past 10 years, ^VVIX has underperformed QQQ with an annualized return of 0.49%, while QQQ has yielded a comparatively higher 21.32% annualized return.
^VVIX
- 1D
- -1.84%
- 1M
- -0.31%
- 6M
- -7.46%
- YTD
- 0.93%
- 1Y
- -2.32%
- 3Y*
- -0.48%
- 5Y*
- -5.02%
- 10Y*
- 0.49%
QQQ
- 1D
- 1.12%
- 1M
- -0.12%
- 6M
- 15.19%
- YTD
- 17.43%
- 1Y
- 30.02%
- 3Y*
- 24.54%
- 5Y*
- 15.52%
- 10Y*
- 21.32%
^VVIX vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^VVIX Cboe VVIX Index | 0.93% | -11.18% | 19.97% | 12.86% | -29.74% | -1.96% | 18.87% | 8.02% | -13.55% | 10.00% |
QQQ Invesco QQQ ETF | 17.43% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Correlation
The correlation between ^VVIX and QQQ is -0.63, 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 | -0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007 | -0.57 |
The correlation between ^VVIX and QQQ has been stable across timeframes, ranging from -0.63 to -0.57 - a consistent structural relationship.
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Return for Risk
^VVIX vs. QQQ — Risk / Return Rank
^VVIX
QQQ
^VVIX vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cboe VVIX Index (^VVIX) and Invesco QQQ ETF (QQQ). 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.
| ^VVIX | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.29 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 2.52 | -2.58 |
| Martin ratioReturn relative to average drawdown | -0.10 | 9.01 | -9.11 |
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Drawdowns
^VVIX vs. QQQ - Drawdown Comparison
The maximum ^VVIX drawdown since its inception was -64.71%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for ^VVIX and QQQ.
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Drawdown Indicators
| ^VVIX | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.71% | -82.97% | +18.26% |
Max Drawdown (1Y)Largest decline over 1 year | -38.94% | -11.96% | -26.98% |
Max Drawdown (3Y)Largest decline over 3 years | -52.75% | -22.77% | -29.98% |
Max Drawdown (5Y)Largest decline over 5 years | -53.07% | -35.12% | -17.95% |
Max Drawdown (10Y)Largest decline over 10 years | -64.71% | -35.12% | -29.59% |
Current DrawdownCurrent decline from peak | -54.94% | -3.44% | -51.50% |
Average DrawdownAverage peak-to-trough decline | -43.99% | -32.67% | -11.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.11% | 3.34% | +20.77% |
Volatility
^VVIX vs. QQQ - Volatility Comparison
Cboe VVIX Index (^VVIX) has a higher volatility of 21.51% compared to Invesco QQQ ETF (QQQ) at 8.09%. This indicates that ^VVIX's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^VVIX | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.51% | 8.09% | +13.42% |
Volatility (6M)Calculated over the trailing 6-month period | 65.20% | 15.41% | +49.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 86.68% | 18.60% | +68.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.19% | 22.80% | +65.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.07% | 22.45% | +63.62% |
Frequently Asked Questions
^VVIX and QQQ have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^VVIX has higher volatility (21.51%) compared to QQQ (8.09%). In terms of maximum drawdown, ^VVIX dropped -64.71% vs QQQ's -82.97%.
QQQ currently has the higher Sharpe Ratio (1.62 vs -0.03), 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.
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