PL=F vs. VXX
PL=F (Platinum) is an asset, while VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) is Volatility fund tracking the S&P 500 VIX Short-Term Futures Index Total Return. Over the past 10 years, PL=F returned 6.66%/yr vs -46.89%/yr for VXX. At a correlation of -0.18, they often move in opposite directions.
Performance
PL=F vs. VXX - Performance Comparison
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Returns By Period
In the year-to-date period, PL=F achieves a -6.68% return, which is significantly higher than VXX's -11.22% return. Over the past 10 years, PL=F has outperformed VXX with an annualized return of 6.66%, while VXX has yielded a comparatively lower -46.89% annualized return.
PL=F
- 1D
- 1.27%
- 1M
- -3.17%
- YTD
- -6.68%
- 6M
- 14.75%
- 1Y
- 74.38%
- 3Y*
- 22.36%
- 5Y*
- 10.27%
- 10Y*
- 6.66%
VXX
- 1D
- -3.33%
- 1M
- -18.15%
- YTD
- -11.22%
- 6M
- -24.41%
- 1Y
- -54.83%
- 3Y*
- -42.32%
- 5Y*
- -46.46%
- 10Y*
- -46.89%
PL=F vs. VXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PL=F Platinum | -6.68% | 123.45% | -9.78% | -6.81% | 12.08% | -10.47% | 10.37% | 22.13% | -14.68% | 3.60% |
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | -11.22% | -42.21% | -26.22% | -72.52% | -23.80% | -72.41% | 11.04% | -67.75% | 67.91% | -72.64% |
Correlation
The correlation between PL=F and VXX is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2009 | -0.18 |
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Return for Risk
PL=F vs. VXX — Risk / Return Rank
PL=F
VXX
PL=F vs. VXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Platinum (PL=F) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX). 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.
| PL=F | VXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.31 | ||
| Sortino ratioReturn per unit of downside risk | +3.34 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.81 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | -0.96 | +2.97 |
| Martin ratioReturn relative to average drawdown | 4.03 | -1.37 | +5.40 |
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
| PL=F | VXX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | -0.99 | +2.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | -0.69 | +0.97 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | -0.66 | +0.87 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | -0.77 | +0.87 |
Drawdowns
PL=F vs. VXX - Drawdown Comparison
The maximum PL=F drawdown since its inception was -68.68%, smaller than the maximum VXX drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for PL=F and VXX.
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Drawdown Indicators
| PL=F | VXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.68% | -100.00% | +31.32% |
Max Drawdown (1Y)Largest decline over 1 year | -35.55% | -57.39% | +21.84% |
Max Drawdown (3Y)Largest decline over 3 years | -35.55% | -79.68% | +44.13% |
Max Drawdown (5Y)Largest decline over 5 years | -35.55% | -95.79% | +60.24% |
Max Drawdown (10Y)Largest decline over 10 years | -49.56% | -99.86% | +50.30% |
Current DrawdownCurrent decline from peak | -33.44% | -100.00% | +66.56% |
Average DrawdownAverage peak-to-trough decline | -36.40% | -95.08% | +58.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.98% | 40.04% | -22.06% |
Volatility
PL=F vs. VXX - Volatility Comparison
Platinum (PL=F) has a higher volatility of 10.31% compared to iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) at 8.62%. This indicates that PL=F's price experiences larger fluctuations and is considered to be riskier than VXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PL=F | VXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 8.62% | +1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 48.96% | 40.99% | +7.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.15% | 55.62% | -1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.63% | 67.94% | -32.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.75% | 70.95% | -39.20% |
Frequently Asked Questions
PL=F and VXX have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PL=F has higher volatility (10.31%) compared to VXX (8.62%). In terms of maximum drawdown, PL=F dropped -68.68% vs VXX's -100.00%.
PL=F currently has the higher Sharpe Ratio (1.32 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.
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