SVXY vs. IQQQ
SVXY (ProShares Short VIX Short-Term Futures ETF) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - SVXY is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index (-100%), while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, SVXY returned 33.37% vs 38.70% for IQQQ. A 0.71 correlation means they provide meaningful diversification when combined. SVXY charges 1.38%/yr vs 0.55%/yr for IQQQ.
Performance
SVXY vs. IQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SVXY achieves a -0.92% return, which is significantly lower than IQQQ's 18.72% return.
SVXY
- 1D
- -0.20%
- 1M
- 8.44%
- YTD
- -0.92%
- 6M
- 7.55%
- 1Y
- 33.37%
- 3Y*
- 13.21%
- 5Y*
- 15.76%
- 10Y*
- -1.59%
IQQQ
- 1D
- -0.30%
- 1M
- 9.88%
- YTD
- 18.72%
- 6M
- 17.39%
- 1Y
- 38.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SVXY vs. IQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SVXY ProShares Short VIX Short-Term Futures ETF | -0.92% | 10.63% | -10.54% |
IQQQ ProShares Nasdaq-100 High Income ETF | 18.72% | 17.11% | 13.39% |
Correlation
The correlation between SVXY and IQQQ is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024 | 0.71 |
The correlation between SVXY and IQQQ has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.
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Return for Risk
SVXY vs. IQQQ — Risk / Return Rank
SVXY
IQQQ
SVXY vs. IQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short VIX Short-Term Futures ETF (SVXY) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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.
| SVXY | IQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.43 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 3.49 | -2.03 |
| Martin ratioReturn relative to average drawdown | 4.78 | 12.41 | -7.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SVXY | IQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 2.53 | -1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 1.25 | -1.03 |
Drawdowns
SVXY vs. IQQQ - Drawdown Comparison
The maximum SVXY drawdown since its inception was -95.25%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for SVXY and IQQQ.
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Drawdown Indicators
| SVXY | IQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.25% | -20.41% | -74.84% |
Max Drawdown (1Y)Largest decline over 1 year | -22.94% | -11.13% | -11.81% |
Max Drawdown (3Y)Largest decline over 3 years | -46.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -46.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -95.25% | — | — |
Current DrawdownCurrent decline from peak | -80.15% | -0.30% | -79.85% |
Average DrawdownAverage peak-to-trough decline | -56.87% | -3.64% | -53.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.00% | 3.13% | +3.87% |
Volatility
SVXY vs. IQQQ - Volatility Comparison
The current volatility for ProShares Short VIX Short-Term Futures ETF (SVXY) is 3.76%, while ProShares Nasdaq-100 High Income ETF (IQQQ) has a volatility of 3.99%. This indicates that SVXY experiences smaller price fluctuations and is considered to be less risky than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVXY | IQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 3.99% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 21.42% | 11.54% | +9.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.62% | 15.40% | +13.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.38% | 18.57% | +16.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.75% | 18.57% | +32.18% |
SVXY vs. IQQQ - Expense Ratio Comparison
SVXY has a 1.38% expense ratio, which is higher than IQQQ's 0.55% expense ratio.
Dividends
SVXY vs. IQQQ - Dividend Comparison
SVXY has not paid dividends to shareholders, while IQQQ's dividend yield for the trailing twelve months is around 4.42%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IQQQ ProShares Nasdaq-100 High Income ETF | 4.42% | 10.34% | 7.27% |
SVXY ProShares Short VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVXY and IQQQ have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IQQQ has higher volatility (3.99%) compared to SVXY (3.76%). In terms of maximum drawdown, SVXY dropped -95.25% vs IQQQ's -20.41%.
On 1-year performance, IQQQ leads with 38.70% vs 33.37% for SVXY. On fees, IQQQ is cheaper at 0.55% per year. On volatility, SVXY has been the lower-risk option at 3.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IQQQ has performed better with a 38.70% return vs 33.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IQQQ is cheaper with a 0.55% expense ratio, compared with 1.38% for SVXY.
IQQQ has the higher dividend yield at 4.42%, compared with 0.00% for SVXY.
SVXY is categorized as Volatility, while IQQQ is Nasdaq-100. SVXY tracks S&P 500 VIX Short-Term Futures Index (-100%), while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 1.38% for SVXY and 0.55% for IQQQ.
IQQQ currently has the higher Sharpe Ratio (2.53 vs 1.17), 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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