^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 0.83%/yr vs 20.86%/yr for QQQ. Their -0.57 correlation means they have often moved in opposite directions in the past.
Performance
^VVIX vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, ^VVIX achieves a -0.11% return, which is significantly lower than QQQ's 18.11% return. Over the past 10 years, ^VVIX has underperformed QQQ with an annualized return of 0.83%, while QQQ has yielded a comparatively higher 20.86% annualized return.
^VVIX
- 1D
- 1.94%
- 1M
- 4.25%
- 6M
- -10.84%
- YTD
- -0.11%
- 1Y
- -3.42%
- 3Y*
- -2.42%
- 5Y*
- -3.97%
- 10Y*
- 0.83%
- ALL TIME*
- 0.28%
QQQ
- 1D
- 3.40%
- 1M
- 1.58%
- 6M
- 17.69%
- YTD
- 18.11%
- 1Y
- 28.94%
- 3Y*
- 25.56%
- 5Y*
- 15.07%
- 10Y*
- 20.86%
- ALL TIME*
- 10.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^VVIX Cboe VVIX Index | $0.00 | $0.00 | $0.00 |
| $33.34B | $28.86B | $31.95B |
^VVIX vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^VVIX Cboe VVIX Index | -0.11% | -11.18% | 19.97% | 12.86% | -29.74% | -1.96% | 18.87% | 8.02% | -13.55% | 10.00% |
QQQ Invesco QQQ ETF | 18.11% | 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 -0.62, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.62 |
Correlation (3Y) Balances recent behavior with more history. | -0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.60 |
Correlation (10Y) Provides a long-term view across more market conditions. | -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 | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.26 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 2.43 | -2.52 |
| Martin ratioReturn relative to average drawdown | -0.14 | 7.72 | -7.86 |
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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 | -55.41% | -2.88% | -52.53% |
Average DrawdownAverage peak-to-trough decline | -44.01% | -32.61% | -11.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.80% | 3.76% | +21.04% |
Volatility
^VVIX vs. QQQ - Volatility Comparison
Cboe VVIX Index (^VVIX) has a higher volatility of 25.83% compared to Invesco QQQ ETF (QQQ) at 7.63%. 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 | 25.83% | 7.63% | +18.20% |
Volatility (6M)Calculated over the trailing 6-month period | 63.92% | 16.43% | +47.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.28% | 19.61% | +68.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.42% | 22.97% | +65.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.29% | 22.54% | +63.75% |
Frequently Asked Questions
^VVIX and QQQ have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^VVIX has higher volatility (25.83%) compared to QQQ (7.63%). In terms of maximum drawdown, ^VVIX dropped -64.71% vs QQQ's -82.97%.
QQQ currently has the higher Sharpe Ratio (1.49 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.
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