IVV vs. XXXX
IVV (iShares Core S&P 500 ETF) and XXXX (MAX S&P 500 4X Leveraged ETN) are both exchange-traded funds - IVV is a S&P 500 fund tracking the S&P 500 Index, while XXXX is a Leveraged Equities fund tracking the S&P 500 Index (400%). Both are passively managed. Over the past year, IVV returned 24.00% vs 62.47% for XXXX. Their 1.00 correlation means they have historically moved very closely together. IVV charges 0.03%/yr vs 2.95%/yr for XXXX.
Performance
IVV vs. XXXX - Performance Comparison
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Returns By Period
In the year-to-date period, IVV achieves a 13.51% return, which is significantly lower than XXXX's 32.17% return.
IVV
- 1D
- -0.18%
- 1M
- 2.46%
- 6M
- 12.80%
- YTD
- 13.51%
- 1Y
- 24.00%
- 3Y*
- 21.48%
- 5Y*
- 13.30%
- 10Y*
- 15.32%
- ALL TIME*
- 8.57%
XXXX
- 1D
- -0.58%
- 1M
- 6.78%
- 6M
- 33.16%
- YTD
- 32.17%
- 1Y
- 62.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 49.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.47B | $3.27B | $5.84B | |
| $23.99M | $24.46M | $27.16M |
IVV vs. XXXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 13.51% | 17.85% | 24.93% | 4.51% |
XXXX MAX S&P 500 4X Leveraged ETN | 32.17% | 17.36% | 61.36% | 16.77% |
Correlation
The correlation between IVV and XXXX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2023 | 1.00 |
The correlation between IVV and XXXX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
IVV vs. XXXX — Risk / Return Rank
IVV
XXXX
IVV vs. XXXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 ETF (IVV) 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.
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.
| IVV | XXXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.23 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 1.69 | +1.03 |
| Martin ratioReturn relative to average drawdown | 11.55 | 5.87 | +5.69 |
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Drawdowns
IVV vs. XXXX - Drawdown Comparison
The maximum IVV drawdown since its inception was -55.25%, smaller than the maximum XXXX drawdown of -62.27%. Use the drawdown chart below to compare losses from any high point for IVV and XXXX.
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Drawdown Indicators
| IVV | XXXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.25% | -62.27% | +7.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -37.25% | +28.36% |
Max Drawdown (3Y)Largest decline over 3 years | -18.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | — | — |
Current DrawdownCurrent decline from peak | -0.18% | -0.74% | +0.56% |
Average DrawdownAverage peak-to-trough decline | -10.72% | -11.50% | +0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 10.68% | -8.60% |
Volatility
IVV vs. XXXX - Volatility Comparison
The current volatility for iShares Core S&P 500 ETF (IVV) is 4.06%, while MAX S&P 500 4X Leveraged ETN (XXXX) has a volatility of 16.28%. This indicates that IVV experiences smaller price fluctuations and is considered to be less risky 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
| IVV | XXXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 16.28% | -12.22% |
Volatility (6M)Calculated over the trailing 6-month period | 10.35% | 40.94% | -30.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.88% | 50.87% | -37.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 60.79% | -43.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 60.79% | -42.71% |
IVV vs. XXXX - Expense Ratio Comparison
IVV has a 0.03% expense ratio, which is lower than XXXX's 2.95% expense ratio.
Dividends
IVV vs. XXXX - Dividend Comparison
IVV's dividend yield for the trailing twelve months is around 1.06%, while XXXX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 1.06% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
XXXX MAX S&P 500 4X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, IVV and XXXX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
XXXX has higher volatility (16.28%) compared to IVV (4.06%). In terms of maximum drawdown, IVV dropped -55.25% vs XXXX's -62.27%.
On 1-year performance, XXXX leads with 62.47% vs 24.00% for IVV. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 4.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XXXX has performed better with a 62.47% return vs 24.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVV is cheaper with a 0.03% expense ratio, compared with 2.95% for XXXX.
IVV has the higher dividend yield at 1.06%, compared with 0.00% for XXXX.
IVV is categorized as S&P 500, while XXXX is Leveraged Equities. IVV tracks S&P 500 Index, while XXXX tracks S&P 500 Index (400%). They also come from different issuers: iShares and Max. Their fees differ too: 0.03% for IVV and 2.95% for XXXX.
IVV currently has the higher Sharpe Ratio (1.87 vs 1.24), 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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