VIXM vs. TLSA
VIXM (ProShares VIX Mid-Term Futures ETF) is Volatility fund tracking the S&P 500 VIX Mid-Term Futures Index, while TLSA (Tiziana Life Sciences PLC) is a stock. Over the past 5 years, VIXM returned -14.31%/yr vs -8.94%/yr for TLSA. At a correlation of -0.12, they often move in opposite directions.
Performance
VIXM vs. TLSA - Performance Comparison
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Returns By Period
In the year-to-date period, VIXM achieves a -6.22% return, which is significantly higher than TLSA's -16.78% 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%
TLSA
- 1D
- -6.77%
- 1M
- 12.73%
- 6M
- -8.15%
- YTD
- -16.78%
- 1Y
- -16.22%
- 3Y*
- 22.11%
- 5Y*
- -8.94%
- 10Y*
- —
VIXM vs. TLSA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VIXM ProShares VIX Mid-Term Futures ETF | -6.22% | 5.60% | -13.67% | -44.83% | -0.69% | -16.70% | 72.38% | -20.38% | 7.65% |
TLSA Tiziana Life Sciences PLC | -16.78% | 114.02% | 24.32% | -6.43% | -37.66% | -52.48% | 86.96% | -27.52% | -29.05% |
Correlation
The correlation between VIXM and TLSA is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2018 | -0.12 |
The correlation between VIXM and TLSA shifts across timeframes, from -0.23 (1 year) to -0.10 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VIXM vs. TLSA — Risk / Return Rank
VIXM
TLSA
VIXM vs. TLSA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Mid-Term Futures ETF (VIXM) and Tiziana Life Sciences PLC (TLSA). 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 | TLSA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.03 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.29 | -0.47 |
| Martin ratioReturn relative to average drawdown | -1.55 | -0.43 | -1.12 |
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Drawdowns
VIXM vs. TLSA - Drawdown Comparison
The maximum VIXM drawdown since its inception was -96.23%, roughly equal to the maximum TLSA drawdown of -94.03%. Use the drawdown chart below to compare losses from any high point for VIXM and TLSA.
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Drawdown Indicators
| VIXM | TLSA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.23% | -94.03% | -2.20% |
Max Drawdown (1Y)Largest decline over 1 year | -19.16% | -56.80% | +37.64% |
Max Drawdown (3Y)Largest decline over 3 years | -37.26% | -56.80% | +19.54% |
Max Drawdown (5Y)Largest decline over 5 years | -63.40% | -80.42% | +17.02% |
Max Drawdown (10Y)Largest decline over 10 years | -72.55% | — | — |
Current DrawdownCurrent decline from peak | -96.07% | -82.26% | -13.81% |
Average DrawdownAverage peak-to-trough decline | -81.60% | -70.44% | -11.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.30% | 37.95% | -28.65% |
Volatility
VIXM vs. TLSA - Volatility Comparison
The current volatility for ProShares VIX Mid-Term Futures ETF (VIXM) is 3.38%, while Tiziana Life Sciences PLC (TLSA) has a volatility of 22.48%. This indicates that VIXM experiences smaller price fluctuations and is considered to be less risky than TLSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIXM | TLSA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 22.48% | -19.10% |
Volatility (6M)Calculated over the trailing 6-month period | 13.99% | 55.48% | -41.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.62% | 80.17% | -61.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.60% | 93.00% | -62.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.63% | 112.37% | -79.74% |
Dividends
VIXM vs. TLSA - Dividend Comparison
Neither VIXM nor TLSA has paid dividends to shareholders.
Frequently Asked Questions
VIXM and TLSA have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLSA has higher volatility (22.48%) compared to VIXM (3.38%). In terms of maximum drawdown, VIXM dropped -96.23% vs TLSA's -94.03%.
TLSA currently has the higher Sharpe Ratio (-0.20 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.
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