MAKX vs. VOX
MAKX (ProShares S&P Kensho Smart Factories ETF) and VOX (Vanguard Communication Services ETF) are both exchange-traded funds - MAKX is a Technology Equities fund tracking the S&P Kensho Smart Factories Index, while VOX is a Communications Equities fund tracking the MSCI US Investable Market Communication Services 25/50 Index. Both are passively managed. Over the past 3 years, MAKX returned 21.16%/yr vs 21.50%/yr for VOX. A 0.68 correlation means they provide meaningful diversification when combined. MAKX charges 0.58%/yr vs 0.09%/yr for VOX.
Performance
MAKX vs. VOX - Performance Comparison
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Returns By Period
In the year-to-date period, MAKX achieves a 33.58% return, which is significantly higher than VOX's -1.04% return.
MAKX
- 1D
- -3.25%
- 1M
- -4.07%
- 6M
- 22.41%
- YTD
- 33.58%
- 1Y
- 41.45%
- 3Y*
- 21.16%
- 5Y*
- —
- 10Y*
- —
VOX
- 1D
- -0.43%
- 1M
- 2.04%
- 6M
- -1.88%
- YTD
- -1.04%
- 1Y
- 14.03%
- 3Y*
- 21.50%
- 5Y*
- 6.98%
- 10Y*
- 8.13%
MAKX vs. VOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MAKX ProShares S&P Kensho Smart Factories ETF | 33.58% | 21.63% | 8.27% | 26.03% | -26.41% | 3.10% |
VOX Vanguard Communication Services ETF | -1.04% | 26.27% | 33.12% | 44.81% | -38.85% | -3.62% |
Correlation
The correlation between MAKX and VOX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.68 |
Over the past year, the correlation between MAKX and VOX has dropped to 0.45 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
MAKX vs. VOX — Risk / Return Rank
MAKX
VOX
MAKX vs. VOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Smart Factories ETF (MAKX) and Vanguard Communication Services ETF (VOX). 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.
| MAKX | VOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.16 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 1.04 | +1.56 |
| Martin ratioReturn relative to average drawdown | 7.21 | 3.42 | +3.79 |
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Drawdowns
MAKX vs. VOX - Drawdown Comparison
The maximum MAKX drawdown since its inception was -40.27%, smaller than the maximum VOX drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for MAKX and VOX.
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Drawdown Indicators
| MAKX | VOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.27% | -57.18% | +16.91% |
Max Drawdown (1Y)Largest decline over 1 year | -16.05% | -13.56% | -2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -29.76% | -21.15% | -8.61% |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.76% | — |
Current DrawdownCurrent decline from peak | -10.77% | -4.36% | -6.41% |
Average DrawdownAverage peak-to-trough decline | -16.38% | -11.88% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 4.11% | +1.65% |
Volatility
MAKX vs. VOX - Volatility Comparison
ProShares S&P Kensho Smart Factories ETF (MAKX) has a higher volatility of 14.36% compared to Vanguard Communication Services ETF (VOX) at 6.25%. This indicates that MAKX's price experiences larger fluctuations and is considered to be riskier than VOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAKX | VOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.36% | 6.25% | +8.11% |
Volatility (6M)Calculated over the trailing 6-month period | 25.00% | 12.61% | +12.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.23% | 16.17% | +16.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.84% | 21.31% | +7.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.84% | 20.94% | +7.90% |
MAKX vs. VOX - Expense Ratio Comparison
MAKX has a 0.58% expense ratio, which is higher than VOX's 0.09% expense ratio.
Dividends
MAKX vs. VOX - Dividend Comparison
MAKX's dividend yield for the trailing twelve months is around 0.14%, less than VOX's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAKX ProShares S&P Kensho Smart Factories ETF | 0.14% | 0.15% | 0.24% | 0.52% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VOX Vanguard Communication Services ETF | 1.03% | 0.95% | 1.05% | 1.03% | 0.88% | 0.93% | 0.73% | 0.90% | 2.77% | 3.83% | 2.67% | 3.55% |
Frequently Asked Questions
MAKX and VOX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAKX has higher volatility (14.36%) compared to VOX (6.25%). In terms of maximum drawdown, MAKX dropped -40.27% vs VOX's -57.18%.
On 3-year performance, VOX leads with 21.50% vs 21.16% for MAKX. On fees, VOX is cheaper at 0.09% per year. On volatility, VOX has been the lower-risk option at 6.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VOX has performed better with a 21.50% return vs 21.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOX is cheaper with a 0.09% expense ratio, compared with 0.58% for MAKX.
VOX has the higher dividend yield at 1.03%, compared with 0.14% for MAKX.
MAKX is categorized as Technology Equities, while VOX is Communications Equities. MAKX tracks S&P Kensho Smart Factories Index, while VOX tracks MSCI US Investable Market Communication Services 25/50 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.58% for MAKX and 0.09% for VOX.
MAKX currently has the higher Sharpe Ratio (1.29 vs 0.87), 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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