SVXY vs. ZIVB

Last updated Jun 23, 2026

SVXY (ProShares Short VIX Short-Term Futures ETF) and ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) are both exchange-traded funds - SVXY is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index (-0.5x), while ZIVB is a Inverse Equities fund actively managed by Volatility Shares. SVXY is passively managed, while ZIVB is actively managed. At a correlation of -0.13, they often move in opposite directions. SVXY charges 0.95%/yr vs 1.35%/yr for ZIVB.

Performance

SVXY vs. ZIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short VIX Short-Term Futures ETF (SVXY) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SVXY

• 1D: 0.14%
• 1M: 7.11%
• YTD: 2.06%
• 6M: 2.78%
• 1Y: 39.97%
• 3Y*: 11.27%
• 5Y*: 15.52%
• 10Y*: 2.76%

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SVXY vs. ZIVB - Yearly Performance Comparison

	2026 (YTD)
SVXY ProShares Short VIX Short-Term Futures ETF	4.24%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	33.28%

Correlation

The correlation between SVXY and ZIVB is -0.13, 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 (All Time) Calculated using the full available price history since May 28, 2026	-0.13

Return for Risk

SVXY vs. ZIVB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SVXY

SVXY Risk / Return Rank: 39
SVXY Sharpe Ratio Rank: 40
SVXY Sortino Ratio Rank: 37
SVXY Omega Ratio Rank: 42
SVXY Calmar Ratio Rank: 36
SVXY Martin Ratio Rank: 38

ZIVB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SVXY vs. ZIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short VIX Short-Term Futures ETF (SVXY) and -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB). 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.

	SVXY	ZIVB	Difference
Sharpe ratio: Return per unit of total volatility	1.39	—	—
Sortino ratio: Return per unit of downside risk	1.88	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	1.75	—	—
Martin ratio: Return relative to average drawdown	5.71	—	—

Drawdowns

SVXY vs. ZIVB - Drawdown Comparison

The maximum SVXY drawdown since its inception was -95.25%, which is greater than ZIVB's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SVXY and ZIVB.

Drawdown Indicators

	SVXY	ZIVB	Difference
Max Drawdown Largest peak-to-trough decline	-95.25%	0.00%	-95.25%
Max Drawdown (1Y) Largest decline over 1 year	-22.94%	—	—
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 Drawdown Current decline from peak	-79.55%	0.00%	-79.55%
Average Drawdown Average peak-to-trough decline	-56.93%	0.00%	-56.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.02%	—	—

Volatility

Volatility by Period

	SVXY	ZIVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.30%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.60%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.87%	115.80%	-86.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.38%	115.80%	-80.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.36%	115.80%	-65.44%

SVXY vs. ZIVB - Expense Ratio Comparison

SVXY has a 0.95% expense ratio, which is lower than ZIVB's 1.35% expense ratio.

Dividends

SVXY vs. ZIVB - Dividend Comparison

SVXY has not paid dividends to shareholders, while ZIVB's dividend yield for the trailing twelve months is around 2.37%.

Position	TTM
SVXY ProShares Short VIX Short-Term Futures ETF	0.00%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	2.37%

Frequently Asked Questions

Can I hold both SVXY and ZIVB in my portfolio?

SVXY and ZIVB have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SVXY or ZIVB?

On fees, SVXY is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SVXY or ZIVB?

SVXY is cheaper with a 0.95% expense ratio, compared with 1.35% for ZIVB.

Which ETF pays a higher dividend yield, SVXY or ZIVB?

ZIVB has the higher dividend yield at 2.37%, compared with 0.00% for SVXY.

What is the main difference between SVXY and ZIVB?

SVXY is categorized as Volatility, while ZIVB is Inverse Equities. They also come from different issuers: ProShares and Volatility Shares. Their fees differ too: 0.95% for SVXY and 1.35% for ZIVB.