REW vs. ^VVIX
REW (ProShares UltraShort Technology) is Leveraged Equities fund tracking the Dow Jones U.S. Technology Index (-200%), while ^VVIX (Cboe VVIX Index) is an index. Over the past 10 years, REW returned -45.02%/yr vs -2.66%/yr for ^VVIX. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
REW vs. ^VVIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, REW achieves a -43.42% return, which is significantly lower than ^VVIX's 3.14% return. Over the past 10 years, REW has underperformed ^VVIX with an annualized return of -45.02%, while ^VVIX has yielded a comparatively higher -2.66% annualized return.
REW
- 1D
- 0.07%
- 1M
- -7.63%
- YTD
- -43.42%
- 6M
- -41.39%
- 1Y
- -58.32%
- 3Y*
- -45.09%
- 5Y*
- -37.89%
- 10Y*
- -45.02%
^VVIX
- 1D
- -3.94%
- 1M
- 4.85%
- YTD
- 3.14%
- 6M
- 12.13%
- 1Y
- 3.56%
- 3Y*
- 1.16%
- 5Y*
- -2.03%
- 10Y*
- -2.66%
REW vs. ^VVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REW ProShares UltraShort Technology | -43.42% | -43.15% | -33.70% | -61.35% | 65.72% | -53.61% | -71.34% | -56.83% | -10.02% | -49.11% |
^VVIX Cboe VVIX Index | 3.14% | -11.18% | 19.97% | 12.86% | -29.74% | -1.96% | 18.87% | 8.02% | -13.55% | 10.00% |
Correlation
The correlation between REW and ^VVIX is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007 | 0.52 |
The correlation between REW and ^VVIX has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
REW vs. ^VVIX — Risk / Return Rank
REW
^VVIX
REW vs. ^VVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Technology (REW) and Cboe VVIX Index (^VVIX). 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.
| REW | ^VVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.08 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 0.09 | -1.03 |
| Martin ratioReturn relative to average drawdown | -1.99 | 0.16 | -2.15 |
Loading charts...
Drawdowns
REW vs. ^VVIX - Drawdown Comparison
The maximum REW drawdown since its inception was -99.99%, which is greater than ^VVIX's maximum drawdown of -64.71%. Use the drawdown chart below to compare losses from any high point for REW and ^VVIX.
Loading charts...
Drawdown Indicators
| REW | ^VVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -64.71% | -35.28% |
Max Drawdown (1Y)Largest decline over 1 year | -62.24% | -38.94% | -23.30% |
Max Drawdown (3Y)Largest decline over 3 years | -86.76% | -52.75% | -34.01% |
Max Drawdown (5Y)Largest decline over 5 years | -93.62% | -53.07% | -40.55% |
Max Drawdown (10Y)Largest decline over 10 years | -99.79% | -64.71% | -35.08% |
Current DrawdownCurrent decline from peak | -99.99% | -53.96% | -46.03% |
Average DrawdownAverage peak-to-trough decline | -86.90% | -43.95% | -42.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.17% | 22.68% | +7.49% |
Volatility
REW vs. ^VVIX - Volatility Comparison
The current volatility for ProShares UltraShort Technology (REW) is 24.76%, while Cboe VVIX Index (^VVIX) has a volatility of 32.06%. This indicates that REW experiences smaller price fluctuations and is considered to be less risky than ^VVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| REW | ^VVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.76% | 32.06% | -7.30% |
Volatility (6M)Calculated over the trailing 6-month period | 39.69% | 64.76% | -25.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.45% | 87.11% | -39.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.55% | 88.18% | -35.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.29% | 86.12% | -36.83% |
Frequently Asked Questions
REW and ^VVIX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^VVIX has higher volatility (32.06%) compared to REW (24.76%). In terms of maximum drawdown, REW dropped -99.99% vs ^VVIX's -64.71%.
^VVIX currently has the higher Sharpe Ratio (0.04 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.
Find the right allocation for REW and ^VVIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer