SVIX vs. ETHU

Last updated Jun 24, 2026

SVIX (-1x Short VIX Futures ETF) and ETHU (Volatility Shares 2x Ether ETF) are both exchange-traded funds - SVIX is a Volatility fund tracking the Short VIX Futures Index, while ETHU is a Leveraged Cryptocurrency fund actively managed by Volatility Shares. SVIX is passively managed, while ETHU is actively managed. Over the past year, SVIX returned 56.04% vs -73.33% for ETHU. At a 0.43 correlation, their price movements are largely independent. SVIX charges 1.47%/yr vs 2.67%/yr for ETHU.

Performance

SVIX vs. ETHU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in -1x Short VIX Futures ETF (SVIX) and Volatility Shares 2x Ether ETF (ETHU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVIX achieves a -8.30% return, which is significantly higher than ETHU's -76.57% return.

SVIX

• 1D: -4.80%
• 1M: 7.92%
• YTD: -8.30%
• 6M: -6.56%
• 1Y: 56.04%
• 3Y*: -5.66%
• 5Y*: —
• 10Y*: —

ETHU

• 1D: -8.34%
• 1M: -38.44%
• YTD: -76.57%
• 6M: -76.68%
• 1Y: -73.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SVIX vs. ETHU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SVIX -1x Short VIX Futures ETF	-8.30%	-4.49%	-44.42%
ETHU Volatility Shares 2x Ether ETF	-76.57%	-64.38%	-48.73%

Correlation

The correlation between SVIX and ETHU is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jun 4, 2024	0.43

Return for Risk

SVIX vs. ETHU — Risk / Return Rank

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

SVIX

SVIX Risk / Return Rank: 29
SVIX Sharpe Ratio Rank: 29
SVIX Sortino Ratio Rank: 29
SVIX Omega Ratio Rank: 33
SVIX Calmar Ratio Rank: 28
SVIX Martin Ratio Rank: 28

ETHU

ETHU Risk / Return Rank: 4
ETHU Sharpe Ratio Rank: 5
ETHU Sortino Ratio Rank: 5
ETHU Omega Ratio Rank: 6
ETHU Calmar Ratio Rank: 2
ETHU Martin Ratio Rank: 4

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.

SVIX vs. ETHU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for -1x Short VIX Futures ETF (SVIX) and Volatility Shares 2x Ether ETF (ETHU). 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	ETHU	Difference
Sharpe ratio: Return per unit of total volatility	1.02	-0.53	+1.55
Sortino ratio: Return per unit of downside risk	1.53	-0.37	+1.90
Omega ratio: Gain probability vs. loss probability	1.21	0.96	+0.25
Calmar ratio: Return relative to maximum drawdown	1.32	-0.78	+2.10
Martin ratio: Return relative to average drawdown	3.76	-1.12	+4.88

SVIX vs. ETHU - Sharpe Ratio Comparison

The current SVIX Sharpe Ratio is 1.02, which is higher than the ETHU Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of SVIX and ETHU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SVIX vs. ETHU - Drawdown Comparison

The maximum SVIX drawdown since its inception was -79.30%, smaller than the maximum ETHU drawdown of -96.27%. Use the drawdown chart below to compare losses from any high point for SVIX and ETHU.

Drawdown Indicators

	SVIX	ETHU	Difference
Max Drawdown Largest peak-to-trough decline	-79.30%	-96.27%	+16.97%
Max Drawdown (1Y) Largest decline over 1 year	-42.69%	-93.66%	+50.97%
Max Drawdown (3Y) Largest decline over 3 years	-79.30%	—	—
Current Drawdown Current decline from peak	-56.20%	-95.94%	+39.74%
Average Drawdown Average peak-to-trough decline	-31.87%	-69.93%	+38.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.93%	65.51%	-50.58%

Volatility

SVIX vs. ETHU - Volatility Comparison

The current volatility for -1x Short VIX Futures ETF (SVIX) is 16.67%, while Volatility Shares 2x Ether ETF (ETHU) has a volatility of 39.76%. This indicates that SVIX experiences smaller price fluctuations and is considered to be less risky than ETHU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVIX	ETHU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.67%	39.76%	-23.09%
Volatility (6M) Calculated over the trailing 6-month period	43.44%	95.70%	-52.26%
Volatility (1Y) Calculated over the trailing 1-year period	55.33%	138.92%	-83.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.26%	143.29%	-77.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.26%	143.29%	-77.03%

SVIX vs. ETHU - Expense Ratio Comparison

SVIX has a 1.47% expense ratio, which is lower than ETHU's 2.67% expense ratio.

Dividends

SVIX vs. ETHU - Dividend Comparison

SVIX has not paid dividends to shareholders, while ETHU's dividend yield for the trailing twelve months is around 6.26%.

Position	TTM	2025	2024
ETHU Volatility Shares 2x Ether ETF	6.26%	2.31%	0.41%
SVIX -1x Short VIX Futures ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SVIX and ETHU in my portfolio?

SVIX and ETHU have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SVIX or ETHU?

ETHU has higher volatility (39.76%) compared to SVIX (16.67%). In terms of maximum drawdown, SVIX dropped -79.30% vs ETHU's -96.27%.

Which ETF is better, SVIX or ETHU?

On 1-year performance, SVIX leads with 56.04% vs -73.33% for ETHU. On fees, SVIX is cheaper at 1.47% per year. On volatility, SVIX has been the lower-risk option at 16.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SVIX or ETHU?

Over the 1-year period, SVIX has performed better with a 56.04% return vs -73.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SVIX or ETHU?

SVIX is cheaper with a 1.47% expense ratio, compared with 2.67% for ETHU.

Which ETF pays a higher dividend yield, SVIX or ETHU?

ETHU has the higher dividend yield at 6.26%, compared with 0.00% for SVIX.

What is the main difference between SVIX and ETHU?

SVIX is categorized as Volatility, while ETHU is Leveraged Cryptocurrency. Their fees differ too: 1.47% for SVIX and 2.67% for ETHU.

Which has better risk-adjusted returns?

SVIX currently has the higher Sharpe Ratio (1.02 vs -0.53), 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.