SVOL vs. VXX
SVOL (Simplify Volatility Premium ETF) and VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) are both Volatility funds. SVOL is actively managed, while VXX is passively managed. Over the past 5 years, SVOL returned 6.71%/yr vs -45.73%/yr for VXX. At a correlation of -0.81, they often move in opposite directions. SVOL charges 0.50%/yr vs 0.89%/yr for VXX.
Performance
SVOL vs. VXX - Performance Comparison
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Returns By Period
In the year-to-date period, SVOL achieves a 2.12% return, which is significantly higher than VXX's -17.72% return.
SVOL
- 1D
- -0.43%
- 1M
- 2.98%
- 6M
- -0.27%
- YTD
- 2.12%
- 1Y
- 12.85%
- 3Y*
- 6.02%
- 5Y*
- 6.71%
- 10Y*
- —
VXX
- 1D
- 3.08%
- 1M
- -10.00%
- 6M
- -15.71%
- YTD
- -17.72%
- 1Y
- -51.81%
- 3Y*
- -38.94%
- 5Y*
- -45.73%
- 10Y*
- -46.79%
SVOL vs. VXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | 2.12% | 2.41% | 6.77% | 22.88% | -3.30% | 12.70% |
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | -17.72% | -42.21% | -26.22% | -72.52% | -23.80% | -61.71% |
Correlation
The correlation between SVOL and VXX is -0.80, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.81 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | -0.81 |
The correlation between SVOL and VXX has been stable across timeframes, ranging from -0.81 to -0.80 - a consistent structural relationship.
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Return for Risk
SVOL vs. VXX — Risk / Return Rank
SVOL
VXX
SVOL vs. VXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Volatility Premium ETF (SVOL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX). 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.
| SVOL | VXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.67 | ||
| Sortino ratioReturn per unit of downside risk | +2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.84 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | -0.96 | +2.09 |
| Martin ratioReturn relative to average drawdown | 3.25 | -1.55 | +4.79 |
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Drawdowns
SVOL vs. VXX - Drawdown Comparison
The maximum SVOL drawdown since its inception was -33.50%, smaller than the maximum VXX drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SVOL and VXX.
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Drawdown Indicators
| SVOL | VXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -100.00% | +66.50% |
Max Drawdown (1Y)Largest decline over 1 year | -11.42% | -53.98% | +42.56% |
Max Drawdown (3Y)Largest decline over 3 years | -33.50% | -80.49% | +46.99% |
Max Drawdown (5Y)Largest decline over 5 years | -33.50% | -96.22% | +62.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.82% | — |
Current DrawdownCurrent decline from peak | -0.52% | -100.00% | +99.48% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -95.09% | +90.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 33.53% | -29.56% |
Volatility
SVOL vs. VXX - Volatility Comparison
The current volatility for Simplify Volatility Premium ETF (SVOL) is 3.89%, while iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) has a volatility of 14.39%. This indicates that SVOL experiences smaller price fluctuations and is considered to be less risky than VXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVOL | VXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.89% | 14.39% | -10.50% |
Volatility (6M)Calculated over the trailing 6-month period | 10.39% | 43.73% | -33.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.35% | 56.27% | -38.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.02% | 67.95% | -45.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.80% | 70.30% | -48.50% |
SVOL vs. VXX - Expense Ratio Comparison
SVOL has a 0.50% expense ratio, which is lower than VXX's 0.89% expense ratio.
Dividends
SVOL vs. VXX - Dividend Comparison
SVOL's dividend yield for the trailing twelve months is around 21.81%, while VXX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | 21.81% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% |
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVOL and VXX have a correlation of -0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VXX has higher volatility (14.39%) compared to SVOL (3.89%). In terms of maximum drawdown, SVOL dropped -33.50% vs VXX's -100.00%.
On 5-year performance, SVOL leads with 6.71% vs -45.73% for VXX. On fees, SVOL is cheaper at 0.50% per year. On volatility, SVOL has been the lower-risk option at 3.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SVOL has performed better with a 6.71% return vs -45.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SVOL is cheaper with a 0.50% expense ratio, compared with 0.89% for VXX.
SVOL has the higher dividend yield at 21.81%, compared with 0.00% for VXX.
They also come from different issuers: Simplify and Barclays Capital. Their fees differ too: 0.50% for SVOL and 0.89% for VXX.
SVOL currently has the higher Sharpe Ratio (0.75 vs -0.93), 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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