VIXM vs. YQQQ

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares VIX Mid-Term Futures ETF (VIXM) and YieldMax Short N100 Option Income Strategy ETF (YQQQ).

VIXM and YQQQ 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. YQQQ is an actively managed fund by YieldMax. It was launched on Aug 14, 2024.

Performance

VIXM vs. YQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares VIX Mid-Term Futures ETF (VIXM) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). The values are adjusted to include any dividend payments, if applicable.

VIXM vs. YQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VIXM ProShares VIX Mid-Term Futures ETF	12.31%	5.60%	1.33%
YQQQ YieldMax Short N100 Option Income Strategy ETF	11.80%	-9.97%	-4.06%

Returns By Period

The year-to-date returns for both stocks are quite close, with VIXM having a 12.31% return and YQQQ slightly lower at 11.80%.

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%

YQQQ

• 1D: -2.73%
• 1M: 6.61%
• YTD: 11.80%
• 6M: 13.19%
• 1Y: -6.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VIXM vs. YQQQ - Expense Ratio Comparison

VIXM has a 0.85% expense ratio, which is lower than YQQQ's 0.99% expense ratio.

YQQQ

YieldMax Short N100 Option Income Strategy ETF

VIXM

ProShares VIX Mid-Term Futures ETF

Return for Risk

VIXM vs. YQQQ — 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

YQQQ

YQQQ Risk / Return Rank: 6
YQQQ Sharpe Ratio Rank: 5
YQQQ Sortino Ratio Rank: 5
YQQQ Omega Ratio Rank: 4
YQQQ Calmar Ratio Rank: 8
YQQQ Martin Ratio Rank: 9

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. YQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Mid-Term Futures ETF (VIXM) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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	YQQQ	Difference
Sharpe ratio Return per unit of total volatility	0.28	-0.38	+0.66
Sortino ratio Return per unit of downside risk	0.64	-0.39	+1.03
Omega ratio Gain probability vs. loss probability	1.09	0.94	+0.15
Calmar ratio Return relative to maximum drawdown	0.37	-0.25	+0.61
Martin ratio Return relative to average drawdown	0.54	-0.33	+0.87
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. YQQQ - Sharpe Ratio Comparison

The current VIXM Sharpe Ratio is 0.28, which is higher than the YQQQ Sharpe Ratio of -0.38. The chart below compares the historical Sharpe Ratios of VIXM and YQQQ, 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	YQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	-0.38	+0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.41	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.53	-0.13	-0.40

Correlation

The correlation between VIXM and YQQQ is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VIXM vs. YQQQ - Dividend Comparison

VIXM has not paid dividends to shareholders, while YQQQ's dividend yield for the trailing twelve months is around 27.35%.

	TTM	2025	2024
VIXM ProShares VIX Mid-Term Futures ETF	0.00%	0.00%	0.00%
YQQQ YieldMax Short N100 Option Income Strategy ETF	27.35%	31.71%	7.88%

Drawdowns

VIXM vs. YQQQ - Drawdown Comparison

The maximum VIXM drawdown since its inception was -96.23%, which is greater than YQQQ's maximum drawdown of -24.85%. Use the drawdown chart below to compare losses from any high point for VIXM and YQQQ.

Drawdown Indicators

	VIXM	YQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-96.23%	-24.85%	-71.38%
Max Drawdown (1Y) Largest decline over 1 year	-23.73%	-24.85%	+1.12%
Max Drawdown (5Y) Largest decline over 5 years	-63.40%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-75.72%	—	—
Current Drawdown Current decline from peak	-95.29%	-11.80%	-83.49%
Average Drawdown Average peak-to-trough decline	-81.36%	-13.36%	-68.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.12%	18.66%	-2.54%

Volatility

VIXM vs. YQQQ - Volatility Comparison

ProShares VIX Mid-Term Futures ETF (VIXM) has a higher volatility of 9.86% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 5.23%. This indicates that VIXM's price experiences larger fluctuations and is considered to be riskier than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIXM	YQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.86%	5.23%	+4.63%
Volatility (6M) Calculated over the trailing 6-month period	15.23%	9.36%	+5.87%
Volatility (1Y) Calculated over the trailing 1-year period	29.79%	17.29%	+12.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.22%	16.38%	+14.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.06%	16.38%	+16.68%