BERZ vs. SVIX

Last updated Jun 24, 2026

BERZ (MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN) and SVIX (-1x Short VIX Futures ETF) are both exchange-traded funds - BERZ is a Inverse Equities fund tracking the Solactive FANG Innovation Index, while SVIX is a Volatility fund tracking the Short VIX Futures Index. Both are passively managed. Over the past 3 years, BERZ returned -74.69%/yr vs -5.66%/yr for SVIX. At a correlation of -0.64, they often move in opposite directions. BERZ charges 0.95%/yr vs 1.47%/yr for SVIX.

Performance

BERZ vs. SVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) and -1x Short VIX Futures ETF (SVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BERZ achieves a -55.66% return, which is significantly lower than SVIX's -8.30% return.

BERZ

• 1D: 11.73%
• 1M: 4.71%
• YTD: -55.66%
• 6M: -53.62%
• 1Y: -80.66%
• 3Y*: -74.69%
• 5Y*: —
• 10Y*: —

SVIX

• 1D: -4.80%
• 1M: 7.92%
• YTD: -8.30%
• 6M: -6.56%
• 1Y: 56.04%
• 3Y*: -5.66%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BERZ vs. SVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN	-55.66%	-78.81%	-65.95%	-89.12%	100.61%
SVIX -1x Short VIX Futures ETF	-8.30%	-4.49%	-32.76%	157.37%	-1.48%

Correlation

The correlation between BERZ and SVIX is -0.60, 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	-0.60
Correlation (3Y) Calculated over the trailing 3-year period	-0.64
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022	-0.64

The correlation between BERZ and SVIX has been stable across timeframes, ranging from -0.64 to -0.60 - a consistent structural relationship.

Return for Risk

BERZ vs. SVIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BERZ

BERZ Risk / Return Rank: 1
BERZ Sharpe Ratio Rank: 1
BERZ Sortino Ratio Rank: 0
BERZ Omega Ratio Rank: 0
BERZ Calmar Ratio Rank: 1
BERZ Martin Ratio Rank: 1

SVIX

SVIX Risk / Return Rank: 29
SVIX Sharpe Ratio Rank: 29
SVIX Sortino Ratio Rank: 29
SVIX Omega Ratio Rank: 33
SVIX Calmar Ratio Rank: 28
SVIX Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BERZ vs. SVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) and -1x Short VIX Futures ETF (SVIX). 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.

	BERZ	SVIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	1.02	-2.01
Sortino ratio: Return per unit of downside risk	-2.23	1.53	-3.75
Omega ratio: Gain probability vs. loss probability	0.77	1.21	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.96	1.32	-2.27
Martin ratio: Return relative to average drawdown	-1.56	3.76	-5.32

BERZ vs. SVIX - Sharpe Ratio Comparison

The current BERZ Sharpe Ratio is -0.99, which is lower than the SVIX Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of BERZ and SVIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BERZ vs. SVIX - Drawdown Comparison

The maximum BERZ drawdown since its inception was -99.80%, which is greater than SVIX's maximum drawdown of -79.30%. Use the drawdown chart below to compare losses from any high point for BERZ and SVIX.

Drawdown Indicators

	BERZ	SVIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.80%	-79.30%	-20.50%
Max Drawdown (1Y) Largest decline over 1 year	-84.60%	-42.69%	-41.91%
Max Drawdown (3Y) Largest decline over 3 years	-98.87%	-79.30%	-19.57%
Current Drawdown Current decline from peak	-99.73%	-56.20%	-43.53%
Average Drawdown Average peak-to-trough decline	-71.81%	-31.87%	-39.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	54.31%	14.93%	+39.38%

Volatility

BERZ vs. SVIX - Volatility Comparison

MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a higher volatility of 34.10% compared to -1x Short VIX Futures ETF (SVIX) at 16.67%. This indicates that BERZ's price experiences larger fluctuations and is considered to be riskier than SVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BERZ	SVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.10%	16.67%	+17.43%
Volatility (6M) Calculated over the trailing 6-month period	63.77%	43.44%	+20.33%
Volatility (1Y) Calculated over the trailing 1-year period	81.37%	55.33%	+26.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.80%	66.26%	+26.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.80%	66.26%	+26.54%

BERZ vs. SVIX - Expense Ratio Comparison

BERZ has a 0.95% expense ratio, which is lower than SVIX's 1.47% expense ratio.

Dividends

BERZ vs. SVIX - Dividend Comparison

Neither BERZ nor SVIX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BERZ and SVIX in my portfolio?

BERZ and SVIX have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BERZ or SVIX?

BERZ has higher volatility (34.10%) compared to SVIX (16.67%). In terms of maximum drawdown, BERZ dropped -99.80% vs SVIX's -79.30%.

Which ETF is better, BERZ or SVIX?

On 3-year performance, SVIX leads with -5.66% vs -74.69% for BERZ. On fees, BERZ is cheaper at 0.95% per year. On volatility, SVIX has been the lower-risk option at 16.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BERZ or SVIX?

Over the 3-year period, SVIX has performed better with a -5.66% return vs -74.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BERZ or SVIX?

BERZ is cheaper with a 0.95% expense ratio, compared with 1.47% for SVIX.

Which ETF pays a higher dividend yield, BERZ or SVIX?

BERZ and SVIX have nearly identical dividend yields, around 0.00%.

What is the main difference between BERZ and SVIX?

BERZ is categorized as Inverse Equities, while SVIX is Volatility. BERZ tracks Solactive FANG Innovation Index, while SVIX tracks Short VIX Futures Index. They also come from different issuers: BMO and Volatility Shares. Their fees differ too: 0.95% for BERZ and 1.47% for SVIX.

Which has better risk-adjusted returns?

SVIX currently has the higher Sharpe Ratio (1.02 vs -0.99), 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.