SPX.AX vs. ^VIX

Last updated Apr 2, 2026

Compare and contrast key facts about Spenda Limited (SPX.AX) and CBOE Volatility Index (^VIX).

Performance

SPX.AX vs. ^VIX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Spenda Limited (SPX.AX) and CBOE Volatility Index (^VIX). The values are adjusted to include any dividend payments, if applicable.

SPX.AX vs. ^VIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPX.AX Spenda Limited	-20.00%	-72.22%	-30.77%	18.18%	-78.85%	36.84%	442.86%	-50.00%	-82.05%	56.00%
^VIX CBOE Volatility Index	59.12%	-20.09%	53.38%	-42.50%	34.16%	-19.87%	50.60%	-45.54%	154.94%	-27.36%

Different Trading Currencies

SPX.AX is traded in AUD, while ^VIX is traded in USD. To make them comparable, the ^VIX values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPX.AX achieves a -20.00% return, which is significantly lower than ^VIX's 59.12% return. Over the past 10 years, SPX.AX has underperformed ^VIX with an annualized return of -32.38%, while ^VIX has yielded a comparatively higher 6.74% annualized return.

SPX.AX

• 1D: -20.00%
• 1M: -33.33%
• YTD: -20.00%
• 6M: -50.00%
• 1Y: -71.43%
• 3Y*: -44.97%
• 5Y*: -52.76%
• 10Y*: -32.38%

^VIX

• 1D: 0.00%
• 1M: 6.39%
• YTD: 59.12%
• 6M: 41.35%
• 1Y: 3.76%
• 3Y*: 9.25%
• 5Y*: 9.39%
• 10Y*: 6.74%

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

Return for Risk

SPX.AX vs. ^VIX — Risk / Return Rank

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

SPX.AX

SPX.AX Risk / Return Rank: 52
SPX.AX Sharpe Ratio Rank: 36
SPX.AX Sortino Ratio Rank: 99
SPX.AX Omega Ratio Rank: 98
SPX.AX Calmar Ratio Rank: 11
SPX.AX Martin Ratio Rank: 16

^VIX

^VIX Risk / Return Rank: 23
^VIX Sharpe Ratio Rank: 16
^VIX Sortino Ratio Rank: 45
^VIX Omega Ratio Rank: 39
^VIX Calmar Ratio Rank: 3
^VIX Martin Ratio Rank: 10

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.

SPX.AX vs. ^VIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spenda Limited (SPX.AX) and CBOE Volatility Index (^VIX). 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.

	SPX.AX	^VIX	Difference
Sharpe ratio Return per unit of total volatility	-0.08	0.03	-0.10
Sortino ratio Return per unit of downside risk	5.39	1.19	+4.20
Omega ratio Gain probability vs. loss probability	1.79	1.14	+0.65
Calmar ratio Return relative to maximum drawdown	-0.80	-0.44	-0.37
Martin ratio Return relative to average drawdown	-1.23	-0.57	-0.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPX.AX vs. ^VIX - Sharpe Ratio Comparison

The current SPX.AX Sharpe Ratio is -0.08, which is lower than the ^VIX Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of SPX.AX and ^VIX, 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

	SPX.AX	^VIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.08	0.03	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	0.07	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.10	0.05	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.04	-0.14

Correlation

The correlation between SPX.AX and ^VIX is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

SPX.AX vs. ^VIX - Drawdown Comparison

The maximum SPX.AX drawdown since its inception was -100.00%, which is greater than ^VIX's maximum drawdown of -91.83%. Use the drawdown chart below to compare losses from any high point for SPX.AX and ^VIX.

Drawdown Indicators

	SPX.AX	^VIX	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-88.70%	-11.30%
Max Drawdown (1Y) Largest decline over 1 year	-93.33%	-74.26%	-19.07%
Max Drawdown (5Y) Largest decline over 5 years	-97.92%	-74.26%	-23.66%
Max Drawdown (10Y) Largest decline over 10 years	-98.40%	-85.66%	-12.74%
Current Drawdown Current decline from peak	-100.00%	-71.13%	-28.87%
Average Drawdown Average peak-to-trough decline	-87.07%	-64.04%	-23.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.91%	46.12%	+14.79%

Volatility

SPX.AX vs. ^VIX - Volatility Comparison

Spenda Limited (SPX.AX) has a higher volatility of 77.73% compared to CBOE Volatility Index (^VIX) at 49.16%. This indicates that SPX.AX's price experiences larger fluctuations and is considered to be riskier than ^VIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPX.AX	^VIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	77.73%	49.16%	+28.57%
Volatility (6M) Calculated over the trailing 6-month period	374.29%	96.74%	+277.55%
Volatility (1Y) Calculated over the trailing 1-year period	932.50%	144.55%	+787.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	431.11%	130.08%	+301.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	318.35%	140.11%	+178.24%