TLSA vs. VIXM

Last updated Jun 3, 2026

TLSA (Tiziana Life Sciences PLC) is a stock, while VIXM (ProShares VIX Mid-Term Futures ETF) is Volatility fund tracking the S&P 500 VIX Mid-Term Futures Index. Over the past 5 years, TLSA returned -10.21%/yr vs -14.02%/yr for VIXM. At a correlation of -0.12, they often move in opposite directions.

Performance

TLSA vs. VIXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tiziana Life Sciences PLC (TLSA) and ProShares VIX Mid-Term Futures ETF (VIXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLSA achieves a -8.72% return, which is significantly lower than VIXM's 0.92% return.

TLSA

• 1D: -2.86%
• 1M: 1.49%
• YTD: -8.72%
• 6M: -24.02%
• 1Y: -5.56%
• 3Y*: 9.71%
• 5Y*: -10.21%
• 10Y*: —

VIXM

• 1D: -0.58%
• 1M: -1.91%
• YTD: 0.92%
• 6M: -3.39%
• 1Y: -9.09%
• 3Y*: -13.33%
• 5Y*: -14.02%
• 10Y*: -11.20%

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

TLSA vs. VIXM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TLSA Tiziana Life Sciences PLC	-8.72%	114.02%	24.32%	-6.43%	-37.66%	-52.48%	86.96%	-27.52%	-10.78%
VIXM ProShares VIX Mid-Term Futures ETF	0.92%	5.60%	-13.67%	-44.83%	-0.69%	-16.70%	72.38%	-20.38%	4.58%

Correlation

The correlation between TLSA and VIXM is -0.21, 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	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (5Y) Calculated over the trailing 5-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Nov 21, 2018	-0.12

The correlation between TLSA and VIXM shifts across timeframes, from -0.21 (1 year) to -0.09 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

TLSA vs. VIXM — Risk / Return Rank

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

TLSA

TLSA Risk / Return Rank: 39
TLSA Sharpe Ratio Rank: 37
TLSA Sortino Ratio Rank: 42
TLSA Omega Ratio Rank: 39
TLSA Calmar Ratio Rank: 40
TLSA Martin Ratio Rank: 39

VIXM

VIXM Risk / Return Rank: 4
VIXM Sharpe Ratio Rank: 4
VIXM Sortino Ratio Rank: 4
VIXM Omega Ratio Rank: 4
VIXM Calmar Ratio Rank: 3
VIXM Martin Ratio Rank: 3

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.

TLSA vs. VIXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tiziana Life Sciences PLC (TLSA) and ProShares VIX Mid-Term Futures ETF (VIXM). 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.

	TLSA	VIXM	Difference
Sharpe ratio Return per unit of total volatility	-0.07	-0.48	+0.41
Sortino ratio Return per unit of downside risk	0.50	-0.55	+1.05
Omega ratio Gain probability vs. loss probability	1.05	0.93	+0.12
Calmar ratio Return relative to maximum drawdown	0.00	-0.63	+0.63
Martin ratio Return relative to average drawdown	0.00	-1.10	+1.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLSA vs. VIXM - Sharpe Ratio Comparison

The current TLSA Sharpe Ratio is -0.07, which is higher than the VIXM Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of TLSA and VIXM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TLSA	VIXM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.07	-0.48	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	-0.46	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	-0.55	+0.52

Drawdowns

TLSA vs. VIXM - Drawdown Comparison

The maximum TLSA drawdown since its inception was -94.03%, roughly equal to the maximum VIXM drawdown of -96.23%. Use the drawdown chart below to compare losses from any high point for TLSA and VIXM.

Drawdown Indicators

	TLSA	VIXM	Difference
Max Drawdown Largest peak-to-trough decline	-94.03%	-96.23%	+2.20%
Max Drawdown (1Y) Largest decline over 1 year	-54.00%	-15.22%	-38.78%
Max Drawdown (3Y) Largest decline over 3 years	-59.51%	-41.95%	-17.56%
Max Drawdown (5Y) Largest decline over 5 years	-84.02%	-63.40%	-20.62%
Max Drawdown (10Y) Largest decline over 10 years	—	-75.72%	—
Current Drawdown Current decline from peak	-80.54%	-95.77%	+15.23%
Average Drawdown Average peak-to-trough decline	-70.28%	-81.51%	+11.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.93%	8.71%	+25.22%

Volatility

TLSA vs. VIXM - Volatility Comparison

Tiziana Life Sciences PLC (TLSA) has a higher volatility of 23.02% compared to ProShares VIX Mid-Term Futures ETF (VIXM) at 3.29%. This indicates that TLSA's price experiences larger fluctuations and is considered to be riskier than VIXM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLSA	VIXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.02%	3.29%	+19.73%
Volatility (6M) Calculated over the trailing 6-month period	53.09%	13.90%	+39.19%
Volatility (1Y) Calculated over the trailing 1-year period	78.54%	18.98%	+59.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.55%	30.68%	+61.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	112.53%	32.90%	+79.63%

Dividends

TLSA vs. VIXM - Dividend Comparison

Neither TLSA nor VIXM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TLSA and VIXM in my portfolio?

TLSA and VIXM have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLSA or VIXM?

TLSA has higher volatility (23.02%) compared to VIXM (3.29%). In terms of maximum drawdown, TLSA dropped -94.03% vs VIXM's -96.23%.

Which has better risk-adjusted returns?

TLSA currently has the higher Sharpe Ratio (-0.07 vs -0.48), 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.