SVIX vs. DOG
SVIX (-1x Short VIX Futures ETF) and DOG (ProShares Short Dow30) are both exchange-traded funds - SVIX is a Volatility fund tracking the Short VIX Futures Index, while DOG is a Inverse Equities fund tracking the DJ Industrial Average (-100%). Both are passively managed. Over the past 3 years, SVIX returned -6.83%/yr vs -7.85%/yr for DOG. Their -0.67 correlation means they have often moved in opposite directions in the past. SVIX charges 1.47%/yr vs 0.95%/yr for DOG.
Performance
SVIX vs. DOG - Performance Comparison
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Returns By Period
In the year-to-date period, SVIX achieves a -0.08% return, which is significantly higher than DOG's -6.75% return.
SVIX
- 1D
- 3.02%
- 1M
- 1.89%
- 6M
- 6.65%
- YTD
- -0.08%
- 1Y
- 51.31%
- 3Y*
- -6.83%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.88%
DOG
- 1D
- -0.51%
- 1M
- 1.03%
- 6M
- -5.42%
- YTD
- -6.75%
- 1Y
- -13.86%
- 3Y*
- -7.85%
- 5Y*
- -5.65%
- 10Y*
- -11.12%
- ALL TIME*
- -10.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $40.27M | $36.96M | $41.35M | |
| $67.82M | $60.76M | $62.62M |
SVIX vs. DOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SVIX -1x Short VIX Futures ETF | -0.08% | -4.49% | -32.76% | 157.37% | -1.48% |
DOG ProShares Short Dow30 | -6.75% | -8.40% | -5.62% | -7.05% | 4.16% |
Correlation
The correlation between SVIX and DOG is -0.73, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.73 |
Correlation (3Y) Balances recent behavior with more history. | -0.67 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022 | -0.67 |
The correlation between SVIX and DOG has been stable across timeframes, ranging from -0.73 to -0.67 - a consistent structural relationship.
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Return for Risk
SVIX vs. DOG — Risk / Return Rank
SVIX
DOG
SVIX vs. DOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for -1x Short VIX Futures ETF (SVIX) and ProShares Short Dow30 (DOG). 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.
| SVIX | DOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.59 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.85 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | -0.85 | +1.77 |
| Martin ratioReturn relative to average drawdown | 2.61 | -1.48 | +4.09 |
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Drawdowns
SVIX vs. DOG - Drawdown Comparison
The maximum SVIX drawdown since its inception was -79.30%, smaller than the maximum DOG drawdown of -92.90%. Use the drawdown chart below to compare losses from any high point for SVIX and DOG.
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Drawdown Indicators
| SVIX | DOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.30% | -92.90% | +13.60% |
Max Drawdown (1Y)Largest decline over 1 year | -42.69% | -15.02% | -27.67% |
Max Drawdown (3Y)Largest decline over 3 years | -79.30% | -30.86% | -48.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.07% | — |
Current DrawdownCurrent decline from peak | -52.28% | -92.81% | +40.53% |
Average DrawdownAverage peak-to-trough decline | -32.40% | -66.59% | +34.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.03% | 8.60% | +6.43% |
Volatility
SVIX vs. DOG - Volatility Comparison
-1x Short VIX Futures ETF (SVIX) has a higher volatility of 14.34% compared to ProShares Short Dow30 (DOG) at 3.74%. This indicates that SVIX's price experiences larger fluctuations and is considered to be riskier than DOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVIX | DOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.34% | 3.74% | +10.60% |
Volatility (6M)Calculated over the trailing 6-month period | 42.92% | 9.94% | +32.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.46% | 12.59% | +43.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.81% | 14.83% | +50.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.81% | 17.49% | +48.32% |
SVIX vs. DOG - Expense Ratio Comparison
SVIX has a 1.47% expense ratio, which is higher than DOG's 0.95% expense ratio.
Dividends
SVIX vs. DOG - Dividend Comparison
SVIX has not paid dividends to shareholders, while DOG's dividend yield for the trailing twelve months is around 3.38%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DOG ProShares Short Dow30 | 3.38% | 3.65% | 5.72% | 4.54% | 0.41% | 0.00% | 0.14% | 1.54% | 0.86% | 0.04% |
SVIX -1x Short VIX Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVIX and DOG have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVIX has higher volatility (14.34%) compared to DOG (3.74%). In terms of maximum drawdown, SVIX dropped -79.30% vs DOG's -92.90%.
On 3-year performance, SVIX leads with -6.83% vs -7.85% for DOG. On fees, DOG is cheaper at 0.95% per year. On volatility, DOG has been the lower-risk option at 3.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SVIX has performed better with a -6.83% return vs -7.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DOG is cheaper with a 0.95% expense ratio, compared with 1.47% for SVIX.
DOG has the higher dividend yield at 3.38%, compared with 0.00% for SVIX.
SVIX is categorized as Volatility, while DOG is Inverse Equities. SVIX tracks Short VIX Futures Index, while DOG tracks DJ Industrial Average (-100%). They also come from different issuers: Volatility Shares and ProShares. Their fees differ too: 1.47% for SVIX and 0.95% for DOG.
SVIX currently has the higher Sharpe Ratio (0.70 vs -1.01), 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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