SVXY vs. VOO
SVXY (ProShares Short VIX Short-Term Futures ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - SVXY is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index (-100%), while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SVXY returned -1.59%/yr vs 15.56%/yr for VOO. A 0.75 correlation means they provide meaningful diversification when combined. SVXY charges 1.38%/yr vs 0.03%/yr for VOO.
Performance
SVXY vs. VOO - 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 VOO's 10.91% return. Over the past 10 years, SVXY has underperformed VOO with an annualized return of -1.59%, while VOO has yielded a comparatively higher 15.56% annualized 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%
VOO
- 1D
- -0.70%
- 1M
- 5.04%
- YTD
- 10.91%
- 6M
- 10.93%
- 1Y
- 28.04%
- 3Y*
- 22.44%
- 5Y*
- 13.90%
- 10Y*
- 15.56%
SVXY vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SVXY ProShares Short VIX Short-Term Futures ETF | -0.92% | 10.63% | -3.17% | 76.21% | -4.66% | 48.53% | -36.47% | 54.21% | -91.75% | 181.84% |
VOO Vanguard S&P 500 ETF | 10.91% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between SVXY and VOO is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2011 | 0.75 |
The correlation between SVXY and VOO has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.
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Return for Risk
SVXY vs. VOO — Risk / Return Rank
SVXY
VOO
SVXY vs. VOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short VIX Short-Term Futures ETF (SVXY) and Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.43 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 3.16 | -1.70 |
| Martin ratioReturn relative to average drawdown | 4.78 | 14.73 | -9.95 |
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 | VOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 2.39 | -1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.83 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | 0.87 | -0.90 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.89 | -0.67 |
Drawdowns
SVXY vs. VOO - Drawdown Comparison
The maximum SVXY drawdown since its inception was -95.25%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SVXY and VOO.
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Drawdown Indicators
| SVXY | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.25% | -33.99% | -61.26% |
Max Drawdown (1Y)Largest decline over 1 year | -22.94% | -8.90% | -14.04% |
Max Drawdown (3Y)Largest decline over 3 years | -46.45% | -18.69% | -27.76% |
Max Drawdown (5Y)Largest decline over 5 years | -46.45% | -24.52% | -21.93% |
Max Drawdown (10Y)Largest decline over 10 years | -95.25% | -33.99% | -61.26% |
Current DrawdownCurrent decline from peak | -80.15% | -0.70% | -79.45% |
Average DrawdownAverage peak-to-trough decline | -56.87% | -3.69% | -53.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.00% | 1.91% | +5.09% |
Volatility
SVXY vs. VOO - Volatility Comparison
ProShares Short VIX Short-Term Futures ETF (SVXY) has a higher volatility of 3.76% compared to Vanguard S&P 500 ETF (VOO) at 2.84%. This indicates that SVXY's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVXY | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 2.84% | +0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 21.42% | 8.90% | +12.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.62% | 11.80% | +16.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.38% | 16.81% | +18.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.75% | 18.01% | +32.74% |
SVXY vs. VOO - Expense Ratio Comparison
SVXY has a 1.38% expense ratio, which is higher than VOO's 0.03% expense ratio.
Dividends
SVXY vs. VOO - Dividend Comparison
SVXY has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SVXY ProShares Short VIX Short-Term 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% |
VOO Vanguard S&P 500 ETF | 1.03% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
SVXY and VOO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVXY has higher volatility (3.76%) compared to VOO (2.84%). In terms of maximum drawdown, SVXY dropped -95.25% vs VOO's -33.99%.
On 10-year performance, VOO leads with 15.56% vs -1.59% for SVXY. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOO has performed better with a 15.56% return vs -1.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO is cheaper with a 0.03% expense ratio, compared with 1.38% for SVXY.
VOO has the higher dividend yield at 1.03%, compared with 0.00% for SVXY.
SVXY is categorized as Volatility, while VOO is S&P 500. SVXY tracks S&P 500 VIX Short-Term Futures Index (-100%), while VOO tracks S&P 500 Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 1.38% for SVXY and 0.03% for VOO.
VOO currently has the higher Sharpe Ratio (2.39 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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