VIXM vs. BND

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares VIX Mid-Term Futures ETF (VIXM) and Vanguard Total Bond Market ETF (BND).

VIXM and BND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VIXM is a passively managed fund by ProShares that tracks the performance of the S&P 500 VIX Mid-Term Futures Index. It was launched on Jan 3, 2011. BND is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Aggregate Float Adjusted Index. It was launched on Apr 3, 2007. Both VIXM and BND are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VIXM vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares VIX Mid-Term Futures ETF (VIXM) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

VIXM vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIXM ProShares VIX Mid-Term Futures ETF	12.31%	5.60%	-13.67%	-44.83%	-0.69%	-16.70%	72.38%	-20.38%	26.43%	-50.05%
BND Vanguard Total Bond Market ETF	0.05%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Returns By Period

In the year-to-date period, VIXM achieves a 12.31% return, which is significantly higher than BND's 0.05% return. Over the past 10 years, VIXM has underperformed BND with an annualized return of -10.48%, while BND has yielded a comparatively higher 1.67% annualized return.

VIXM

• 1D: -2.72%
• 1M: 9.31%
• YTD: 12.31%
• 6M: 8.41%
• 1Y: 8.20%
• 3Y*: -13.85%
• 5Y*: -12.86%
• 10Y*: -10.48%

BND

• 1D: 0.22%
• 1M: -1.74%
• YTD: 0.05%
• 6M: 0.95%
• 1Y: 4.24%
• 3Y*: 3.59%
• 5Y*: 0.24%
• 10Y*: 1.67%

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

VIXM vs. BND - Expense Ratio Comparison

VIXM has a 0.85% expense ratio, which is higher than BND's 0.03% expense ratio.

VIXM

ProShares VIX Mid-Term Futures ETF

BND

Vanguard Total Bond Market ETF

Return for Risk

VIXM vs. BND — Risk / Return Rank

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

VIXM

VIXM Risk / Return Rank: 21
VIXM Sharpe Ratio Rank: 20
VIXM Sortino Ratio Rank: 24
VIXM Omega Ratio Rank: 24
VIXM Calmar Ratio Rank: 21
VIXM Martin Ratio Rank: 16

BND

BND Risk / Return Rank: 59
BND Sharpe Ratio Rank: 60
BND Sortino Ratio Rank: 58
BND Omega Ratio Rank: 49
BND Calmar Ratio Rank: 74
BND Martin Ratio Rank: 56

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.

VIXM vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Mid-Term Futures ETF (VIXM) and Vanguard Total Bond Market ETF (BND). 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.

	VIXM	BND	Difference
Sharpe ratio Return per unit of total volatility	0.28	0.99	-0.71
Sortino ratio Return per unit of downside risk	0.64	1.41	-0.77
Omega ratio Gain probability vs. loss probability	1.09	1.18	-0.09
Calmar ratio Return relative to maximum drawdown	0.37	1.81	-1.44
Martin ratio Return relative to average drawdown	0.54	4.98	-4.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIXM vs. BND - Sharpe Ratio Comparison

The current VIXM Sharpe Ratio is 0.28, which is lower than the BND Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of VIXM and BND, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VIXM	BND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	0.99	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.41	0.04	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.32	0.30	-0.62
Sharpe Ratio (All Time) Calculated using the full available price history	-0.53	0.59	-1.12

Correlation

The correlation between VIXM and BND is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VIXM vs. BND - Dividend Comparison

VIXM has not paid dividends to shareholders, while BND's dividend yield for the trailing twelve months is around 3.91%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VIXM ProShares VIX Mid-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%
BND Vanguard Total Bond Market ETF	3.91%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%

Drawdowns

VIXM vs. BND - Drawdown Comparison

The maximum VIXM drawdown since its inception was -96.23%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VIXM and BND.

Drawdown Indicators

	VIXM	BND	Difference
Max Drawdown Largest peak-to-trough decline	-96.23%	-18.58%	-77.65%
Max Drawdown (1Y) Largest decline over 1 year	-23.73%	-2.44%	-21.29%
Max Drawdown (5Y) Largest decline over 5 years	-63.40%	-17.91%	-45.49%
Max Drawdown (10Y) Largest decline over 10 years	-75.72%	-18.58%	-57.14%
Current Drawdown Current decline from peak	-95.29%	-2.58%	-92.71%
Average Drawdown Average peak-to-trough decline	-81.36%	-3.07%	-78.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.12%	0.89%	+15.23%

Volatility

VIXM vs. BND - Volatility Comparison

ProShares VIX Mid-Term Futures ETF (VIXM) has a higher volatility of 9.86% compared to Vanguard Total Bond Market ETF (BND) at 1.63%. This indicates that VIXM's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIXM	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.86%	1.63%	+8.23%
Volatility (6M) Calculated over the trailing 6-month period	15.23%	2.52%	+12.71%
Volatility (1Y) Calculated over the trailing 1-year period	29.79%	4.30%	+25.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.22%	6.00%	+25.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.06%	5.52%	+27.54%