VIXM vs. SVXY
Compare and contrast key facts about ProShares VIX Mid-Term Futures ETF (VIXM) and ProShares Short VIX Short-Term Futures ETF (SVXY).
VIXM and SVXY 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 4, 2011. SVXY is a passively managed fund by ProShares that tracks the performance of the S&P 500 VIX Short-Term Futures Index (-100%). It was launched on Oct 3, 2011. Both VIXM and SVXY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VIXM or SVXY.
Key characteristics
| VIXM | SVXY | |
|---|---|---|
| YTD Return | -15.94% | 0.75% |
| 1Y Return | -22.59% | 13.40% |
| 3Y Return (Ann) | -22.31% | 18.38% |
| 5Y Return (Ann) | -8.88% | 11.64% |
| 10Y Return (Ann) | -13.56% | -3.26% |
| Sharpe Ratio | -0.59 | 0.37 |
| Sortino Ratio | -0.79 | 0.66 |
| Omega Ratio | 0.90 | 1.13 |
| Calmar Ratio | -0.23 | 0.16 |
| Martin Ratio | -1.22 | 1.13 |
| Ulcer Index | 18.40% | 12.47% |
| Daily Std Dev | 37.92% | 38.12% |
| Max Drawdown | -96.20% | -95.25% |
| Current Drawdown | -96.13% | -81.16% |
Correlation
The correlation between VIXM and SVXY is -0.89. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
VIXM vs. SVXY - Performance Comparison
In the year-to-date period, VIXM achieves a -15.94% return, which is significantly lower than SVXY's 0.75% return. Over the past 10 years, VIXM has underperformed SVXY with an annualized return of -13.56%, while SVXY has yielded a comparatively higher -3.26% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VIXM vs. SVXY - Expense Ratio Comparison
VIXM has a 0.85% expense ratio, which is lower than SVXY's 1.38% expense ratio.
Risk-Adjusted Performance
VIXM vs. SVXY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Mid-Term Futures ETF (VIXM) and ProShares Short VIX Short-Term Futures ETF (SVXY). 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.
Dividends
VIXM vs. SVXY - Dividend Comparison
Neither VIXM nor SVXY has paid dividends to shareholders.
Drawdowns
VIXM vs. SVXY - Drawdown Comparison
The maximum VIXM drawdown since its inception was -96.20%, roughly equal to the maximum SVXY drawdown of -95.25%. Use the drawdown chart below to compare losses from any high point for VIXM and SVXY. For additional features, visit the drawdowns tool.
Volatility
VIXM vs. SVXY - Volatility Comparison
The current volatility for ProShares VIX Mid-Term Futures ETF (VIXM) is 8.59%, while ProShares Short VIX Short-Term Futures ETF (SVXY) has a volatility of 9.06%. This indicates that VIXM experiences smaller price fluctuations and is considered to be less risky than SVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.