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 -43.85%/yr vs 1.10%/yr for ^VVIX. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
REW vs. ^VVIX - Performance Comparison
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Returns By Period
In the year-to-date period, REW achieves a -39.78% return, which is significantly lower than ^VVIX's 5.01% return. Over the past 10 years, REW has underperformed ^VVIX with an annualized return of -43.85%, while ^VVIX has yielded a comparatively higher 1.10% annualized return.
REW
- 1D
- 4.43%
- 1M
- 8.43%
- 6M
- -38.44%
- YTD
- -39.78%
- 1Y
- -51.65%
- 3Y*
- -41.91%
- 5Y*
- -36.52%
- 10Y*
- -43.85%
^VVIX
- 1D
- 5.94%
- 1M
- 10.97%
- 6M
- -3.56%
- YTD
- 5.01%
- 1Y
- 1.83%
- 3Y*
- 0.46%
- 5Y*
- -5.47%
- 10Y*
- 1.10%
REW vs. ^VVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REW ProShares UltraShort Technology | -39.78% | -43.15% | -33.70% | -61.35% | 65.72% | -53.61% | -71.34% | -56.83% | -10.02% | -49.11% |
^VVIX Cboe VVIX Index | 5.01% | -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 0.54, 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 | 0.54 |
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.
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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 | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.08 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 0.05 | -0.91 |
| Martin ratioReturn relative to average drawdown | -1.75 | 0.08 | -1.83 |
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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.
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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 | -60.10% | -38.94% | -21.16% |
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 | -99.74% | -64.71% | -35.03% |
Current DrawdownCurrent decline from peak | -99.99% | -53.12% | -46.87% |
Average DrawdownAverage peak-to-trough decline | -86.94% | -43.99% | -42.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.45% | 24.28% | +5.17% |
Volatility
REW vs. ^VVIX - Volatility Comparison
ProShares UltraShort Technology (REW) and Cboe VVIX Index (^VVIX) have volatilities of 19.92% and 19.92%, 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
| REW | ^VVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.92% | 19.92% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 42.41% | 64.73% | -22.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.67% | 86.86% | -37.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.97% | 88.18% | -35.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.45% | 86.05% | -36.60% |
Frequently Asked Questions
REW and ^VVIX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^VVIX has higher volatility (19.92%) compared to REW (19.92%). In terms of maximum drawdown, REW dropped -99.99% vs ^VVIX's -64.71%.
^VVIX currently has the higher Sharpe Ratio (0.02 vs -1.04), 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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