^VVIX vs. VOO
^VVIX (Cboe VVIX Index) is an index, while VOO (Vanguard S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ^VVIX returned 0.83%/yr vs 15.37%/yr for VOO. Their -0.65 correlation means they have often moved in opposite directions in the past.
Performance
^VVIX vs. VOO - 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 VOO's 13.74% return. Over the past 10 years, ^VVIX has underperformed VOO with an annualized return of 0.83%, while VOO has yielded a comparatively higher 15.37% 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%
VOO
- 1D
- 1.81%
- 1M
- 3.52%
- 6M
- 12.48%
- YTD
- 13.74%
- 1Y
- 23.65%
- 3Y*
- 21.57%
- 5Y*
- 13.38%
- 10Y*
- 15.37%
- ALL TIME*
- 15.00%
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 |
| $4.15B | $3.84B | $5.49B |
^VVIX vs. VOO - 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% |
VOO Vanguard S&P 500 ETF | 13.74% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between ^VVIX and VOO is -0.69, 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. | -0.69 |
Correlation (3Y) Balances recent behavior with more history. | -0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.65 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | -0.65 |
The correlation between ^VVIX and VOO has been stable across timeframes, ranging from -0.69 to -0.62 - a consistent structural relationship.
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Return for Risk
^VVIX vs. VOO — Risk / Return Rank
^VVIX
VOO
^VVIX vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cboe VVIX Index (^VVIX) and Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.33 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 2.67 | -2.76 |
| Martin ratioReturn relative to average drawdown | -0.14 | 11.40 | -11.54 |
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Drawdowns
^VVIX vs. VOO - Drawdown Comparison
The maximum ^VVIX drawdown since its inception was -64.71%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for ^VVIX and VOO.
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Drawdown Indicators
| ^VVIX | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.71% | -33.99% | -30.72% |
Max Drawdown (1Y)Largest decline over 1 year | -38.94% | -8.90% | -30.04% |
Max Drawdown (3Y)Largest decline over 3 years | -52.75% | -18.69% | -34.06% |
Max Drawdown (5Y)Largest decline over 5 years | -53.07% | -24.52% | -28.55% |
Max Drawdown (10Y)Largest decline over 10 years | -64.71% | -33.99% | -30.72% |
Current DrawdownCurrent decline from peak | -55.41% | 0.00% | -55.41% |
Average DrawdownAverage peak-to-trough decline | -44.01% | -3.67% | -40.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.80% | 2.08% | +22.72% |
Volatility
^VVIX vs. VOO - Volatility Comparison
Cboe VVIX Index (^VVIX) has a higher volatility of 25.83% compared to Vanguard S&P 500 ETF (VOO) at 4.11%. This indicates that ^VVIX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^VVIX | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.83% | 4.11% | +21.72% |
Volatility (6M)Calculated over the trailing 6-month period | 63.92% | 10.31% | +53.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.28% | 12.89% | +75.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.42% | 16.96% | +71.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.29% | 18.03% | +68.26% |
Frequently Asked Questions
^VVIX and VOO have a correlation of -0.69, 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 VOO (4.11%). In terms of maximum drawdown, ^VVIX dropped -64.71% vs VOO's -33.99%.
VOO currently has the higher Sharpe Ratio (1.86 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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