PL=F vs. VXX

Last updated Apr 3, 2026

Compare and contrast key facts about Platinum (PL=F) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX).

VXX is a passively managed fund by Barclays Capital that tracks the performance of the S&P 500 VIX Short-Term Futures Index Total Return. It was launched on Jan 19, 2018.

Performance

PL=F vs. VXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Platinum (PL=F) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX). The values are adjusted to include any dividend payments, if applicable.

PL=F vs. VXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PL=F Platinum	-1.72%	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	31.09%	-42.21%	-26.22%	-72.52%	-23.80%	-72.41%	11.04%	-67.75%	67.91%	-72.64%

Returns By Period

In the year-to-date period, PL=F achieves a -1.72% return, which is significantly lower than VXX's 31.09% return. Over the past 10 years, PL=F has outperformed VXX with an annualized return of 7.80%, while VXX has yielded a comparatively lower -46.48% annualized return.

PL=F

• 1D: 0.49%
• 1M: -3.63%
• YTD: -1.72%
• 6M: 27.86%
• 1Y: 100.91%
• 3Y*: 26.13%
• 5Y*: 10.59%
• 10Y*: 7.80%

VXX

• 1D: -0.09%
• 1M: 13.85%
• YTD: 31.09%
• 6M: 3.77%
• 1Y: -30.72%
• 3Y*: -41.76%
• 5Y*: -45.28%
• 10Y*: -46.48%

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

Return for Risk

PL=F vs. VXX — Risk / Return Rank

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

PL=F

PL=F Risk / Return Rank: 94
PL=F Sharpe Ratio Rank: 100
PL=F Sortino Ratio Rank: 89
PL=F Omega Ratio Rank: 100
PL=F Calmar Ratio Rank: 100
PL=F Martin Ratio Rank: 79

VXX

VXX Risk / Return Rank: 6
VXX Sharpe Ratio Rank: 5
VXX Sortino Ratio Rank: 7
VXX Omega Ratio Rank: 7
VXX Calmar Ratio Rank: 4
VXX Martin Ratio Rank: 7

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.

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 ratio Return per unit of total volatility	1.83	-0.41	+2.24
Sortino ratio Return per unit of downside risk	2.08	-0.20	+2.27
Omega ratio Gain probability vs. loss probability	1.32	0.98	+0.35
Calmar ratio Return relative to maximum drawdown	3.14	-0.47	+3.61
Martin ratio Return relative to average drawdown	8.75	-0.59	+9.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PL=F vs. VXX - Sharpe Ratio Comparison

The current PL=F Sharpe Ratio is 1.83, which is higher than the VXX Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of PL=F and VXX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PL=F	VXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	-0.41	+2.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	-0.66	+0.96
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	-0.65	+0.90
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	-0.75	+0.87

Correlation

The correlation between PL=F and VXX is -0.18. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

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.

Drawdown Indicators

	PL=F	VXX	Difference
Max Drawdown Largest peak-to-trough decline	-68.68%	-100.00%	+31.32%
Max Drawdown (1Y) Largest decline over 1 year	-35.53%	-69.85%	+34.32%
Max Drawdown (5Y) Largest decline over 5 years	-36.35%	-96.67%	+60.32%
Max Drawdown (10Y) Largest decline over 10 years	-49.56%	-99.87%	+50.31%
Current Drawdown Current decline from peak	-29.90%	-100.00%	+70.10%
Average Drawdown Average peak-to-trough decline	-36.47%	-95.03%	+58.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.77%	54.97%	-42.20%

Volatility

PL=F vs. VXX - Volatility Comparison

The current volatility for Platinum (PL=F) is 14.12%, while iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) has a volatility of 28.51%. This indicates that PL=F experiences smaller price fluctuations and is considered to be less risky than VXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PL=F	VXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.12%	28.51%	-14.39%
Volatility (6M) Calculated over the trailing 6-month period	49.49%	46.98%	+2.51%
Volatility (1Y) Calculated over the trailing 1-year period	53.14%	74.80%	-21.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.23%	69.01%	-33.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.52%	71.14%	-39.62%