SVIX vs. PSMJ

Last updated Apr 1, 2026

Compare and contrast key facts about Volatility Shares -1x Short VIX Futures ETF (SVIX) and Pacer Swan SOS Moderate (July) ETF (PSMJ).

SVIX and PSMJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SVIX is managed by Volatility Shares. It was launched on Mar 28, 2022. PSMJ is an actively managed fund by Pacer. It was launched on Jun 30, 2021.

Performance

SVIX vs. PSMJ - Performance Comparison

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

SVIX vs. PSMJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SVIX Volatility Shares -1x Short VIX Futures ETF	-35.16%	-4.49%	-32.76%	157.37%	-0.88%
PSMJ Pacer Swan SOS Moderate (July) ETF	-1.16%	13.29%	14.06%	19.80%	-2.62%

Returns By Period

In the year-to-date period, SVIX achieves a -35.16% return, which is significantly lower than PSMJ's -1.16% return.

SVIX

• 1D: 9.17%
• 1M: -25.51%
• YTD: -35.16%
• 6M: -26.52%
• 1Y: -22.76%
• 3Y*: -1.64%
• 5Y*: —
• 10Y*: —

PSMJ

• 1D: 1.57%
• 1M: -1.88%
• YTD: -1.16%
• 6M: 0.87%
• 1Y: 14.41%
• 3Y*: 13.33%
• 5Y*: —
• 10Y*: —

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

SVIX vs. PSMJ - Expense Ratio Comparison

SVIX has a 1.47% expense ratio, which is higher than PSMJ's 0.61% expense ratio.

SVIX

Volatility Shares -1x Short VIX Futures ETF

PSMJ

Pacer Swan SOS Moderate (July) ETF

Return for Risk

SVIX vs. PSMJ — Risk / Return Rank

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

SVIX

SVIX Risk / Return Rank: 8
SVIX Sharpe Ratio Rank: 7
SVIX Sortino Ratio Rank: 11
SVIX Omega Ratio Rank: 11
SVIX Calmar Ratio Rank: 5
SVIX Martin Ratio Rank: 4

PSMJ

PSMJ Risk / Return Rank: 82
PSMJ Sharpe Ratio Rank: 77
PSMJ Sortino Ratio Rank: 81
PSMJ Omega Ratio Rank: 87
PSMJ Calmar Ratio Rank: 75
PSMJ Martin Ratio Rank: 89

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. PSMJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Shares -1x Short VIX Futures ETF (SVIX) and Pacer Swan SOS Moderate (July) ETF (PSMJ). 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.

	SVIX	PSMJ	Difference
Sharpe ratio Return per unit of total volatility	-0.31	1.42	-1.73
Sortino ratio Return per unit of downside risk	0.05	2.15	-2.10
Omega ratio Gain probability vs. loss probability	1.01	1.36	-0.35
Calmar ratio Return relative to maximum drawdown	-0.45	2.01	-2.45
Martin ratio Return relative to average drawdown	-1.03	11.57	-12.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SVIX vs. PSMJ - Sharpe Ratio Comparison

The current SVIX Sharpe Ratio is -0.31, which is lower than the PSMJ Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of SVIX and PSMJ, 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

	SVIX	PSMJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.31	1.42	-1.73
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	1.07	-1.04

Correlation

The correlation between SVIX and PSMJ is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SVIX vs. PSMJ - Dividend Comparison

Neither SVIX nor PSMJ has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021
SVIX Volatility Shares -1x Short VIX Futures ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSMJ Pacer Swan SOS Moderate (July) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%

Drawdowns

SVIX vs. PSMJ - Drawdown Comparison

The maximum SVIX drawdown since its inception was -79.30%, which is greater than PSMJ's maximum drawdown of -10.87%. Use the drawdown chart below to compare losses from any high point for SVIX and PSMJ.

Drawdown Indicators

	SVIX	PSMJ	Difference
Max Drawdown Largest peak-to-trough decline	-79.30%	-10.87%	-68.43%
Max Drawdown (1Y) Largest decline over 1 year	-49.47%	-7.31%	-42.16%
Current Drawdown Current decline from peak	-69.03%	-2.19%	-66.84%
Average Drawdown Average peak-to-trough decline	-30.26%	-1.41%	-28.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.52%	1.27%	+20.25%

Volatility

SVIX vs. PSMJ - Volatility Comparison

Volatility Shares -1x Short VIX Futures ETF (SVIX) has a higher volatility of 29.79% compared to Pacer Swan SOS Moderate (July) ETF (PSMJ) at 2.92%. This indicates that SVIX's price experiences larger fluctuations and is considered to be riskier than PSMJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVIX	PSMJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.79%	2.92%	+26.87%
Volatility (6M) Calculated over the trailing 6-month period	47.49%	4.13%	+43.36%
Volatility (1Y) Calculated over the trailing 1-year period	74.62%	10.19%	+64.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.26%	9.09%	+58.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	67.26%	9.09%	+58.17%