VIXM vs. NVDA

Last updated Jul 15, 2026

VIXM (ProShares VIX Mid-Term Futures ETF) is Volatility fund tracking the S&P 500 VIX Mid-Term Futures Index, while NVDA (NVIDIA Corporation) is a stock. Over the past 10 years, VIXM returned -11.68%/yr vs 66.52%/yr for NVDA. At a correlation of -0.49, they often move in opposite directions.

Performance

VIXM vs. NVDA - Performance Comparison

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

Returns By Period

In the year-to-date period, VIXM achieves a -6.22% return, which is significantly lower than NVDA's 13.70% return. Over the past 10 years, VIXM has underperformed NVDA with an annualized return of -11.68%, while NVDA has yielded a comparatively higher 66.52% annualized return.

VIXM

• 1D: -0.42%
• 1M: -6.04%
• 6M: -4.34%
• YTD: -6.22%
• 1Y: -14.41%
• 3Y*: -10.10%
• 5Y*: -14.31%
• 10Y*: -11.68%

NVDA

• 1D: 4.06%
• 1M: 3.22%
• 6M: 14.13%
• YTD: 13.70%
• 1Y: 29.26%
• 3Y*: 67.12%
• 5Y*: 62.14%
• 10Y*: 66.52%

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

VIXM vs. NVDA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIXM ProShares VIX Mid-Term Futures ETF	-6.22%	5.60%	-13.67%	-44.83%	-0.69%	-16.70%	72.38%	-20.38%	26.43%	-50.05%
NVDA NVIDIA Corporation	13.70%	38.92%	171.25%	239.02%	-50.26%	125.48%	122.30%	76.94%	-30.82%	81.99%

Correlation

The correlation between VIXM and NVDA is -0.36, 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	-0.36
Correlation (3Y) Calculated over the trailing 3-year period	-0.41
Correlation (5Y) Calculated over the trailing 5-year period	-0.50
Correlation (10Y) Calculated over the trailing 10-year period	-0.50
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011	-0.49

The correlation between VIXM and NVDA shifts across timeframes, from -0.50 (5 years) to -0.36 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VIXM vs. NVDA — Risk / Return Rank

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

VIXM

VIXM Risk / Return Rank: 3
VIXM Sharpe Ratio Rank: 3
VIXM Sortino Ratio Rank: 3
VIXM Omega Ratio Rank: 3
VIXM Calmar Ratio Rank: 3
VIXM Martin Ratio Rank: 1

NVDA

NVDA Risk / Return Rank: 70
NVDA Sharpe Ratio Rank: 72
NVDA Sortino Ratio Rank: 67
NVDA Omega Ratio Rank: 64
NVDA Calmar Ratio Rank: 73
NVDA Martin Ratio Rank: 72

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. NVDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Mid-Term Futures ETF (VIXM) and NVIDIA Corporation (NVDA). 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.

	VIXM	NVDA	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	0.82	-1.60
Sortino ratio: Return per unit of downside risk	-0.99	1.34	-2.33
Omega ratio: Gain probability vs. loss probability	0.88	1.16	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.75	1.45	-2.21
Martin ratio: Return relative to average drawdown	-1.55	3.13	-4.68

VIXM vs. NVDA - Sharpe Ratio Comparison

The current VIXM Sharpe Ratio is -0.78, which is lower than the NVDA Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of VIXM and NVDA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VIXM vs. NVDA - Drawdown Comparison

The maximum VIXM drawdown since its inception was -96.23%, which is greater than NVDA's maximum drawdown of -89.72%. Use the drawdown chart below to compare losses from any high point for VIXM and NVDA.

Drawdown Indicators

	VIXM	NVDA	Difference
Max Drawdown Largest peak-to-trough decline	-96.23%	-89.72%	-6.51%
Max Drawdown (1Y) Largest decline over 1 year	-19.16%	-20.21%	+1.05%
Max Drawdown (3Y) Largest decline over 3 years	-37.26%	-36.88%	-0.38%
Max Drawdown (5Y) Largest decline over 5 years	-63.40%	-66.34%	+2.94%
Max Drawdown (10Y) Largest decline over 10 years	-72.55%	-66.34%	-6.21%
Current Drawdown Current decline from peak	-96.07%	-10.05%	-86.02%
Average Drawdown Average peak-to-trough decline	-81.60%	-36.11%	-45.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.30%	9.38%	-0.08%

Volatility

VIXM vs. NVDA - Volatility Comparison

The current volatility for ProShares VIX Mid-Term Futures ETF (VIXM) is 3.38%, while NVIDIA Corporation (NVDA) has a volatility of 11.33%. This indicates that VIXM experiences smaller price fluctuations and is considered to be less risky than NVDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIXM	NVDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	11.33%	-7.95%
Volatility (6M) Calculated over the trailing 6-month period	13.99%	27.64%	-13.65%
Volatility (1Y) Calculated over the trailing 1-year period	18.62%	35.88%	-17.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.60%	51.89%	-21.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.63%	49.91%	-17.28%

Dividends

VIXM vs. NVDA - Dividend Comparison

VIXM has not paid dividends to shareholders, while NVDA's dividend yield for the trailing twelve months is around 0.13%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVDA NVIDIA Corporation	0.13%	0.02%	0.03%	0.03%	0.11%	0.05%	0.12%	0.27%	0.46%	0.29%	0.45%	1.20%
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%

Frequently Asked Questions

Can I hold both VIXM and NVDA in my portfolio?

VIXM and NVDA have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIXM or NVDA?

NVDA has higher volatility (11.33%) compared to VIXM (3.38%). In terms of maximum drawdown, VIXM dropped -96.23% vs NVDA's -89.72%.

Which has better risk-adjusted returns?

NVDA currently has the higher Sharpe Ratio (0.82 vs -0.78), 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.