QID vs. VXX
QID (ProShares UltraShort QQQ) and VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) are both exchange-traded funds - QID is a Leveraged Equities fund tracking the NASDAQ-100 Index (-200%), while VXX is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index Total Return. Both are passively managed. Over the past 10 years, QID returned -39.47%/yr vs -48.55%/yr for VXX. A 0.71 correlation means they provide meaningful diversification when combined. QID charges 0.95%/yr vs 0.89%/yr for VXX.
Performance
QID vs. VXX - Performance Comparison
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Returns By Period
In the year-to-date period, QID achieves a -31.93% return, which is significantly lower than VXX's -14.92% return. Over the past 10 years, QID has outperformed VXX with an annualized return of -39.47%, while VXX has yielded a comparatively lower -48.55% annualized return.
QID
- 1D
- 0.22%
- 1M
- -6.88%
- YTD
- -31.93%
- 6M
- -30.64%
- 1Y
- -49.05%
- 3Y*
- -38.43%
- 5Y*
- -31.45%
- 10Y*
- -39.47%
VXX
- 1D
- -1.23%
- 1M
- -14.76%
- YTD
- -14.92%
- 6M
- -16.56%
- 1Y
- -57.88%
- 3Y*
- -40.32%
- 5Y*
- -45.87%
- 10Y*
- -48.55%
QID vs. VXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | -31.93% | -34.97% | -34.06% | -57.19% | 66.30% | -44.93% | -69.71% | -49.57% | -9.90% | -44.00% |
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | -14.92% | -42.21% | -26.22% | -72.52% | -23.80% | -72.41% | 11.04% | -67.75% | 67.91% | -72.64% |
Correlation
The correlation between QID and VXX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2009 | 0.71 |
The correlation between QID and VXX has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.
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Return for Risk
QID vs. VXX — Risk / Return Rank
QID
VXX
QID vs. VXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) 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.
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.
| QID | VXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 0.80 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | -1.01 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.94 | -1.47 | -0.47 |
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Drawdowns
QID vs. VXX - Drawdown Comparison
The maximum QID drawdown since its inception was -99.99%, roughly equal to the maximum VXX drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QID and VXX.
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Drawdown Indicators
| QID | VXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -100.00% | +0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -48.52% | -57.34% | +8.82% |
Max Drawdown (3Y)Largest decline over 3 years | -79.50% | -79.21% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -88.72% | -95.97% | +7.25% |
Max Drawdown (10Y)Largest decline over 10 years | -99.37% | -99.87% | +0.50% |
Current DrawdownCurrent decline from peak | -99.99% | -100.00% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -87.02% | -95.07% | +8.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.66% | 40.02% | -13.36% |
Volatility
QID vs. VXX - Volatility Comparison
ProShares UltraShort QQQ (QID) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) have volatilities of 16.52% and 16.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QID | VXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 16.06% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 28.23% | 43.18% | -14.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.23% | 56.02% | -20.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.26% | 67.98% | -22.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.81% | 70.81% | -26.00% |
QID vs. VXX - Expense Ratio Comparison
QID has a 0.95% expense ratio, which is higher than VXX's 0.89% expense ratio.
Dividends
QID vs. VXX - Dividend Comparison
QID's dividend yield for the trailing twelve months is around 7.63%, while VXX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | 7.63% | 6.25% | 7.99% | 5.63% | 0.15% | 0.00% | 0.92% | 2.54% | 1.38% | 0.08% |
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QID and VXX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QID has higher volatility (16.52%) compared to VXX (16.06%). In terms of maximum drawdown, QID dropped -99.99% vs VXX's -100.00%.
On 10-year performance, QID leads with -39.47% vs -48.55% for VXX. On fees, VXX is cheaper at 0.89% per year. On volatility, VXX has been the lower-risk option at 16.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QID has performed better with a -39.47% return vs -48.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VXX is cheaper with a 0.89% expense ratio, compared with 0.95% for QID.
QID has the higher dividend yield at 7.63%, compared with 0.00% for VXX.
QID is categorized as Leveraged Equities, while VXX is Volatility. QID tracks NASDAQ-100 Index (-200%), while VXX tracks S&P 500 VIX Short-Term Futures Index Total Return. They also come from different issuers: ProShares and Barclays Capital. Their fees differ too: 0.95% for QID and 0.89% for VXX.
VXX currently has the higher Sharpe Ratio (-1.04 vs -1.40), 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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