VIXM vs. SVOL
VIXM (ProShares VIX Mid-Term Futures ETF) and SVOL (Simplify Volatility Premium ETF) are both Volatility funds. VIXM is passively managed, while SVOL is actively managed. Over the past 5 years, VIXM returned -13.49%/yr vs 6.70%/yr for SVOL. At a correlation of -0.77, they often move in opposite directions. VIXM charges 0.85%/yr vs 0.50%/yr for SVOL.
Performance
VIXM vs. SVOL - Performance Comparison
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Returns By Period
In the year-to-date period, VIXM achieves a 1.31% return, which is significantly higher than SVOL's -0.40% return.
VIXM
- 1D
- 0.39%
- 1M
- -2.34%
- YTD
- 1.31%
- 6M
- -2.83%
- 1Y
- -8.35%
- 3Y*
- -13.22%
- 5Y*
- -13.49%
- 10Y*
- -11.17%
SVOL
- 1D
- -0.12%
- 1M
- 2.98%
- YTD
- -0.40%
- 6M
- 1.29%
- 1Y
- 10.62%
- 3Y*
- 6.58%
- 5Y*
- 6.70%
- 10Y*
- —
VIXM vs. SVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VIXM ProShares VIX Mid-Term Futures ETF | 1.31% | 5.60% | -13.67% | -44.83% | -0.69% | -12.41% |
SVOL Simplify Volatility Premium ETF | -0.40% | 2.41% | 6.77% | 22.88% | -3.30% | 12.25% |
Correlation
The correlation between VIXM and SVOL is -0.66, 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 | -0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.77 |
Correlation (All Time) Calculated using the full available price history since May 14, 2021 | -0.77 |
The correlation between VIXM and SVOL shifts across timeframes, from -0.77 (all time) to -0.66 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VIXM vs. SVOL — Risk / Return Rank
VIXM
SVOL
VIXM vs. SVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Mid-Term Futures ETF (VIXM) and Simplify Volatility Premium ETF (SVOL). 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 | SVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.12 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | 0.82 | -1.37 |
| Martin ratioReturn relative to average drawdown | -0.96 | 1.94 | -2.90 |
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
| VIXM | SVOL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | 0.51 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.31 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.34 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.55 | 0.35 | -0.90 |
Drawdowns
VIXM vs. SVOL - Drawdown Comparison
The maximum VIXM drawdown since its inception was -96.23%, which is greater than SVOL's maximum drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for VIXM and SVOL.
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Drawdown Indicators
| VIXM | SVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.23% | -33.50% | -62.73% |
Max Drawdown (1Y)Largest decline over 1 year | -15.22% | -13.01% | -2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -41.41% | -33.50% | -7.91% |
Max Drawdown (5Y)Largest decline over 5 years | -63.40% | -33.50% | -29.90% |
Max Drawdown (10Y)Largest decline over 10 years | -75.72% | — | — |
Current DrawdownCurrent decline from peak | -95.75% | -2.98% | -92.77% |
Average DrawdownAverage peak-to-trough decline | -81.52% | -4.77% | -76.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.74% | 5.49% | +3.25% |
Volatility
VIXM vs. SVOL - Volatility Comparison
ProShares VIX Mid-Term Futures ETF (VIXM) has a higher volatility of 3.19% compared to Simplify Volatility Premium ETF (SVOL) at 1.41%. This indicates that VIXM's price experiences larger fluctuations and is considered to be riskier than SVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIXM | SVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 1.41% | +1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 13.91% | 9.57% | +4.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.98% | 20.90% | -1.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.68% | 21.99% | +8.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.90% | 21.92% | +10.98% |
VIXM vs. SVOL - Expense Ratio Comparison
VIXM has a 0.85% expense ratio, which is higher than SVOL's 0.50% expense ratio.
Dividends
VIXM vs. SVOL - Dividend Comparison
VIXM has not paid dividends to shareholders, while SVOL's dividend yield for the trailing twelve months is around 22.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | 22.10% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% |
VIXM ProShares VIX Mid-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VIXM and SVOL have a correlation of -0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIXM has higher volatility (3.19%) compared to SVOL (1.41%). In terms of maximum drawdown, VIXM dropped -96.23% vs SVOL's -33.50%.
On 5-year performance, SVOL leads with 6.70% vs -13.49% for VIXM. On fees, SVOL is cheaper at 0.50% per year. On volatility, SVOL has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SVOL has performed better with a 6.70% return vs -13.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SVOL is cheaper with a 0.50% expense ratio, compared with 0.85% for VIXM.
SVOL has the higher dividend yield at 22.10%, compared with 0.00% for VIXM.
They also come from different issuers: ProShares and Simplify. Their fees differ too: 0.85% for VIXM and 0.50% for SVOL.
SVOL currently has the higher Sharpe Ratio (0.51 vs -0.44), 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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