SVIX vs. SEF
SVIX (-1x Short VIX Futures ETF) and SEF (ProShares Short Financials) are both exchange-traded funds - SVIX is a Volatility fund tracking the Short VIX Futures Index, while SEF is a Inverse Equities fund tracking the Dow Jones U.S. Financials Index (-100%). Both are passively managed. Over the past 3 years, SVIX returned -2.73%/yr vs -12.14%/yr for SEF. Their -0.60 correlation means they have often moved in opposite directions in the past. SVIX charges 1.47%/yr vs 0.95%/yr for SEF.
Performance
SVIX vs. SEF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SVIX achieves a 0.58% return, which is significantly higher than SEF's -2.97% return.
SVIX
- 1D
- 0.66%
- 1M
- 2.57%
- 6M
- 2.35%
- YTD
- 0.58%
- 1Y
- 52.31%
- 3Y*
- -2.73%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.02%
SEF
- 1D
- -0.56%
- 1M
- -2.73%
- 6M
- -4.74%
- YTD
- -2.97%
- 1Y
- -7.57%
- 3Y*
- -12.14%
- 5Y*
- -7.56%
- 10Y*
- -12.22%
- ALL TIME*
- -13.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $316.98K | $220.26K | $247.07K | |
| $63.66M | $59.67M | $62.71M |
SVIX vs. SEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SVIX -1x Short VIX Futures ETF | 0.58% | -4.49% | -32.76% | 157.37% | -1.48% |
SEF ProShares Short Financials | -2.97% | -9.82% | -17.81% | -8.81% | 13.61% |
Correlation
The correlation between SVIX and SEF is -0.56, 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. | -0.56 |
Correlation (3Y) Balances recent behavior with more history. | -0.56 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022 | -0.60 |
The correlation between SVIX and SEF has been stable across timeframes, ranging from -0.60 to -0.56 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SVIX vs. SEF — Risk / Return Rank
SVIX
SEF
SVIX vs. SEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for -1x Short VIX Futures ETF (SVIX) and ProShares Short Financials (SEF). 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 | SEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.92 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | -0.48 | +1.71 |
| Martin ratioReturn relative to average drawdown | 3.49 | -1.17 | +4.66 |
Loading charts...
Drawdowns
SVIX vs. SEF - Drawdown Comparison
The maximum SVIX drawdown since its inception was -79.30%, smaller than the maximum SEF drawdown of -96.53%. Use the drawdown chart below to compare losses from any high point for SVIX and SEF.
Loading charts...
Drawdown Indicators
| SVIX | SEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.30% | -96.53% | +17.23% |
Max Drawdown (1Y)Largest decline over 1 year | -42.69% | -15.98% | -26.71% |
Max Drawdown (3Y)Largest decline over 3 years | -79.30% | -39.77% | -39.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -73.23% | — |
Current DrawdownCurrent decline from peak | -51.96% | -96.52% | +44.56% |
Average DrawdownAverage peak-to-trough decline | -32.42% | -82.82% | +50.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.03% | 6.48% | +8.55% |
Volatility
SVIX vs. SEF - Volatility Comparison
-1x Short VIX Futures ETF (SVIX) has a higher volatility of 14.34% compared to ProShares Short Financials (SEF) at 3.84%. This indicates that SVIX's price experiences larger fluctuations and is considered to be riskier than SEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SVIX | SEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.34% | 3.84% | +10.50% |
Volatility (6M)Calculated over the trailing 6-month period | 42.92% | 11.03% | +31.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.96% | 14.55% | +41.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.78% | 17.92% | +47.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.78% | 20.46% | +45.32% |
SVIX vs. SEF - Expense Ratio Comparison
SVIX has a 1.47% expense ratio, which is higher than SEF's 0.95% expense ratio.
Dividends
SVIX vs. SEF - Dividend Comparison
SVIX has not paid dividends to shareholders, while SEF's dividend yield for the trailing twelve months is around 3.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SEF ProShares Short Financials | 3.46% | 4.33% | 5.72% | 4.43% | 0.39% | 0.00% | 0.12% | 1.25% | 0.41% |
SVIX -1x Short VIX Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVIX and SEF have a correlation of -0.56, 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 SEF (3.84%). In terms of maximum drawdown, SVIX dropped -79.30% vs SEF's -96.53%.
On 3-year performance, SVIX leads with -2.73% vs -12.14% for SEF. On fees, SEF is cheaper at 0.95% per year. On volatility, SEF has been the lower-risk option at 3.84%. 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 -2.73% return vs -12.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SEF is cheaper with a 0.95% expense ratio, compared with 1.47% for SVIX.
SEF has the higher dividend yield at 3.46%, compared with 0.00% for SVIX.
SVIX is categorized as Volatility, while SEF is Inverse Equities. SVIX tracks Short VIX Futures Index, while SEF tracks Dow Jones U.S. Financials Index (-100%). They also come from different issuers: Volatility Shares and ProShares. Their fees differ too: 1.47% for SVIX and 0.95% for SEF.
SVIX currently has the higher Sharpe Ratio (0.94 vs -0.52), 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.
Find the right allocation for SVIX and SEF
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer