^VVIX vs. XXXX
^VVIX (CBOE VIX Volatility Index) is an index, while XXXX (MAX S&P 500 4X Leveraged ETN) is Leveraged Equities fund tracking the S&P 500. Over the past year, ^VVIX returned -5.55% vs 90.17% for XXXX. At a correlation of -0.67, they often move in opposite directions.
Performance
^VVIX vs. XXXX - Performance Comparison
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Returns By Period
In the year-to-date period, ^VVIX achieves a -7.47% return, which is significantly lower than XXXX's 31.29% return.
^VVIX
- 1D
- -4.51%
- 1M
- -9.98%
- YTD
- -7.47%
- 6M
- -6.06%
- 1Y
- -5.55%
- 3Y*
- -0.01%
- 5Y*
- -4.54%
- 10Y*
- 0.61%
XXXX
- 1D
- 1.52%
- 1M
- 16.66%
- YTD
- 31.29%
- 6M
- 27.73%
- 1Y
- 90.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
^VVIX vs. XXXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
^VVIX CBOE VIX Volatility Index | -7.47% | -11.18% | 19.97% | 1.40% |
XXXX MAX S&P 500 4X Leveraged ETN | 31.29% | 17.36% | 61.36% | 16.31% |
Correlation
The correlation between ^VVIX and XXXX is -0.65, 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 | -0.65 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023 | -0.67 |
The correlation between ^VVIX and XXXX has been stable across timeframes, ranging from -0.67 to -0.65 - a consistent structural relationship.
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Return for Risk
^VVIX vs. XXXX — Risk / Return Rank
^VVIX
XXXX
^VVIX vs. XXXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CBOE VIX Volatility Index (^VVIX) and MAX S&P 500 4X Leveraged ETN (XXXX). 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.
| ^VVIX | XXXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.31 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 2.43 | -2.57 |
| Martin ratioReturn relative to average drawdown | -0.24 | 9.30 | -9.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ^VVIX | XXXX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.07 | 1.94 | -2.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | 0.88 | -0.87 |
Drawdowns
^VVIX vs. XXXX - Drawdown Comparison
The maximum ^VVIX drawdown since its inception was -78.10%, which is greater than XXXX's maximum drawdown of -62.27%. Use the drawdown chart below to compare losses from any high point for ^VVIX and XXXX.
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Drawdown Indicators
| ^VVIX | XXXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.10% | -62.27% | -15.83% |
Max Drawdown (1Y)Largest decline over 1 year | -38.94% | -37.25% | -1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -52.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -53.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -64.71% | — | — |
Current DrawdownCurrent decline from peak | -58.69% | -1.40% | -57.29% |
Average DrawdownAverage peak-to-trough decline | -43.41% | -11.59% | -31.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.20% | 9.73% | +13.47% |
Volatility
^VVIX vs. XXXX - Volatility Comparison
CBOE VIX Volatility Index (^VVIX) has a higher volatility of 12.53% compared to MAX S&P 500 4X Leveraged ETN (XXXX) at 11.10%. This indicates that ^VVIX's price experiences larger fluctuations and is considered to be riskier than XXXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^VVIX | XXXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.53% | 11.10% | +1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 59.37% | 35.43% | +23.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.86% | 46.80% | +36.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.13% | 60.71% | +26.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 85.80% | 60.71% | +25.09% |
Frequently Asked Questions
^VVIX and XXXX have a correlation of -0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^VVIX has higher volatility (12.53%) compared to XXXX (11.10%). In terms of maximum drawdown, ^VVIX dropped -78.10% vs XXXX's -62.27%.
XXXX currently has the higher Sharpe Ratio (1.94 vs -0.07), 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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