SVIX vs. USD
SVIX (-1x Short VIX Futures ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - SVIX is a Volatility fund tracking the Short VIX Futures Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 3 years, SVIX returned -5.66%/yr vs 114.28%/yr for USD. A 0.57 correlation means they provide meaningful diversification when combined. SVIX charges 1.47%/yr vs 0.95%/yr for USD.
Performance
SVIX vs. USD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SVIX achieves a -8.30% return, which is significantly lower than USD's 84.65% return.
SVIX
- 1D
- -4.80%
- 1M
- 7.92%
- YTD
- -8.30%
- 6M
- -6.56%
- 1Y
- 56.04%
- 3Y*
- -5.66%
- 5Y*
- —
- 10Y*
- —
USD
- 1D
- -12.35%
- 1M
- 1.73%
- YTD
- 84.65%
- 6M
- 79.76%
- 1Y
- 206.76%
- 3Y*
- 114.28%
- 5Y*
- 63.13%
- 10Y*
- 61.02%
SVIX vs. USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SVIX -1x Short VIX Futures ETF | -8.30% | -4.49% | -32.76% | 157.37% | -1.48% |
USD ProShares Ultra Semiconductors | 84.65% | 62.08% | 139.64% | 228.79% | -62.52% |
Correlation
The correlation between SVIX and USD is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022 | 0.57 |
The correlation between SVIX and USD has been stable across timeframes, ranging from 0.50 to 0.57 - 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. USD — Risk / Return Rank
SVIX
USD
SVIX vs. USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for -1x Short VIX Futures ETF (SVIX) and ProShares Ultra Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.40 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 6.54 | -5.23 |
| Martin ratioReturn relative to average drawdown | 3.76 | 18.16 | -14.39 |
Loading charts...
Drawdowns
SVIX vs. USD - Drawdown Comparison
The maximum SVIX drawdown since its inception was -79.30%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for SVIX and USD.
Loading charts...
Drawdown Indicators
| SVIX | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.30% | -88.63% | +9.33% |
Max Drawdown (1Y)Largest decline over 1 year | -42.69% | -31.80% | -10.89% |
Max Drawdown (3Y)Largest decline over 3 years | -79.30% | -64.46% | -14.84% |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.85% | — |
Current DrawdownCurrent decline from peak | -56.20% | -14.69% | -41.51% |
Average DrawdownAverage peak-to-trough decline | -31.87% | -32.29% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.93% | 11.44% | +3.49% |
Volatility
SVIX vs. USD - Volatility Comparison
The current volatility for -1x Short VIX Futures ETF (SVIX) is 16.67%, while ProShares Ultra Semiconductors (USD) has a volatility of 34.07%. This indicates that SVIX experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SVIX | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.67% | 34.07% | -17.40% |
Volatility (6M)Calculated over the trailing 6-month period | 43.44% | 54.13% | -10.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.33% | 67.96% | -12.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.26% | 77.73% | -11.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.26% | 69.83% | -3.57% |
SVIX vs. USD - Expense Ratio Comparison
SVIX has a 1.47% expense ratio, which is higher than USD's 0.95% expense ratio.
Dividends
SVIX vs. USD - Dividend Comparison
SVIX has not paid dividends to shareholders, while USD's dividend yield for the trailing twelve months is around 0.25%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
USD ProShares Ultra Semiconductors | 0.25% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
SVIX and USD have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (34.07%) compared to SVIX (16.67%). In terms of maximum drawdown, SVIX dropped -79.30% vs USD's -88.63%.
On 3-year performance, USD leads with 114.28% vs -5.66% for SVIX. On fees, USD is cheaper at 0.95% 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.
Over the 3-year period, USD has performed better with a 114.28% return vs -5.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USD is cheaper with a 0.95% expense ratio, compared with 1.47% for SVIX.
USD has the higher dividend yield at 0.25%, compared with 0.00% for SVIX.
SVIX is categorized as Volatility, while USD is Leveraged Equities. SVIX tracks Short VIX Futures Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: Volatility Shares and ProShares. Their fees differ too: 1.47% for SVIX and 0.95% for USD.
USD currently has the higher Sharpe Ratio (3.06 vs 1.02), 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 USD
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