^VVIX vs. REW
^VVIX (Cboe VVIX Index) is an index, while REW (ProShares UltraShort Technology) is Leveraged Equities fund tracking the Dow Jones U.S. Technology Index (-200%). Over the past 10 years, ^VVIX returned -0.24%/yr vs -43.49%/yr for REW. Their 0.52 correlation means they have sometimes moved together and sometimes differently.
Performance
^VVIX vs. REW - Performance Comparison
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Returns By Period
In the year-to-date period, ^VVIX achieves a -1.11% return, which is significantly higher than REW's -39.32% return. Over the past 10 years, ^VVIX has outperformed REW with an annualized return of -0.24%, while REW has yielded a comparatively lower -43.49% annualized return.
^VVIX
- 1D
- -3.19%
- 1M
- 3.20%
- 6M
- -15.29%
- YTD
- -1.11%
- 1Y
- -16.53%
- 3Y*
- 1.56%
- 5Y*
- -4.63%
- 10Y*
- -0.24%
- ALL TIME*
- 0.23%
REW
- 1D
- 0.08%
- 1M
- 3.53%
- 6M
- -39.26%
- YTD
- -39.32%
- 1Y
- -52.04%
- 3Y*
- -41.68%
- 5Y*
- -35.51%
- 10Y*
- -43.49%
- ALL TIME*
- -36.20%
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 |
| $552.72K | $447.22K | $395.13K |
^VVIX vs. REW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^VVIX Cboe VVIX Index | -1.11% | -11.18% | 19.97% | 12.86% | -29.74% | -1.96% | 18.87% | 8.02% | -13.55% | 10.00% |
REW ProShares UltraShort Technology | -39.32% | -43.15% | -33.70% | -61.35% | 65.72% | -53.61% | -71.34% | -56.83% | -10.02% | -49.11% |
Correlation
The correlation between ^VVIX and REW is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007 | 0.52 |
The correlation between ^VVIX and REW has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.
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Return for Risk
^VVIX vs. REW — Risk / Return Rank
^VVIX
REW
^VVIX vs. REW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cboe VVIX Index (^VVIX) and ProShares UltraShort Technology (REW). 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 | REW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.84 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | -0.83 | +0.66 |
| Martin ratioReturn relative to average drawdown | -0.27 | -1.59 | +1.32 |
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Drawdowns
^VVIX vs. REW - Drawdown Comparison
The maximum ^VVIX drawdown since its inception was -64.71%, smaller than the maximum REW drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for ^VVIX and REW.
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Drawdown Indicators
| ^VVIX | REW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.71% | -99.99% | +35.28% |
Max Drawdown (1Y)Largest decline over 1 year | -38.94% | -60.10% | +21.16% |
Max Drawdown (3Y)Largest decline over 3 years | -52.75% | -86.76% | +34.01% |
Max Drawdown (5Y)Largest decline over 5 years | -53.07% | -93.62% | +40.55% |
Max Drawdown (10Y)Largest decline over 10 years | -64.71% | -99.72% | +35.01% |
Current DrawdownCurrent decline from peak | -55.86% | -99.99% | +44.13% |
Average DrawdownAverage peak-to-trough decline | -44.01% | -86.97% | +42.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.02% | 31.35% | -6.33% |
Volatility
^VVIX vs. REW - Volatility Comparison
Cboe VVIX Index (^VVIX) has a higher volatility of 25.85% compared to ProShares UltraShort Technology (REW) at 19.67%. This indicates that ^VVIX's price experiences larger fluctuations and is considered to be riskier than REW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^VVIX | REW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.85% | 19.67% | +6.18% |
Volatility (6M)Calculated over the trailing 6-month period | 64.83% | 44.30% | +20.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 89.10% | 51.71% | +37.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.44% | 53.29% | +35.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.29% | 49.65% | +36.64% |
Frequently Asked Questions
^VVIX and REW have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^VVIX has higher volatility (25.85%) compared to REW (19.67%). In terms of maximum drawdown, ^VVIX dropped -64.71% vs REW's -99.99%.
^VVIX currently has the higher Sharpe Ratio (-0.08 vs -0.97), 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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