VIXM vs. YQQQ
VIXM (ProShares VIX Mid-Term Futures ETF) and YQQQ (YieldMax Short N100 Option Income Strategy ETF) are both exchange-traded funds - VIXM is a Volatility fund tracking the S&P 500 VIX Mid-Term Futures Index, while YQQQ is a Derivative Income fund actively managed by YieldMax. VIXM is passively managed, while YQQQ is actively managed. Over the past year, VIXM returned -14.47% vs -8.89% for YQQQ. Their 0.58 correlation means they have sometimes moved together and sometimes differently. VIXM charges 0.85%/yr vs 0.99%/yr for YQQQ.
Performance
VIXM vs. YQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, VIXM achieves a -5.57% return, which is significantly higher than YQQQ's -6.51% return.
VIXM
- 1D
- 0.21%
- 1M
- 0.70%
- 6M
- -5.57%
- YTD
- -5.57%
- 1Y
- -14.47%
- 3Y*
- -10.95%
- 5Y*
- -14.33%
- 10Y*
- -11.18%
- ALL TIME*
- -18.02%
YQQQ
- 1D
- -3.25%
- 1M
- -0.65%
- 6M
- -8.29%
- YTD
- -6.51%
- 1Y
- -8.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -10.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.24M | $6.07M | $4.69M | |
| $673.44K | $501.36K | $591.79K |
VIXM vs. YQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VIXM ProShares VIX Mid-Term Futures ETF | -5.57% | 5.60% | 0.84% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | -6.51% | -9.97% | -5.17% |
Correlation
The correlation between VIXM and YQQQ is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2024 | 0.58 |
The correlation between VIXM and YQQQ has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
VIXM vs. YQQQ — Risk / Return Rank
VIXM
YQQQ
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.
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 | YQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 0.91 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.41 | -0.34 |
| Martin ratioReturn relative to average drawdown | -1.43 | -0.88 | -0.54 |
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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 -29.10%. Use the drawdown chart below to compare losses from any high point for VIXM and YQQQ.
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Drawdown Indicators
| VIXM | YQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.23% | -29.10% | -67.13% |
Max Drawdown (1Y)Largest decline over 1 year | -19.36% | -21.80% | +2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -37.26% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -63.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -72.34% | — | — |
Current DrawdownCurrent decline from peak | -96.04% | -26.25% | -69.79% |
Average DrawdownAverage peak-to-trough decline | -81.65% | -15.19% | -66.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.17% | 10.09% | +0.08% |
Volatility
VIXM vs. YQQQ - Volatility Comparison
The current volatility for ProShares VIX Mid-Term Futures ETF (VIXM) is 3.09%, while YieldMax Short N100 Option Income Strategy ETF (YQQQ) has a volatility of 5.53%. This indicates that VIXM experiences smaller price fluctuations and is considered to be less risky than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIXM | YQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 5.53% | -2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 13.72% | 12.40% | +1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.41% | 14.63% | +3.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.50% | 16.68% | +13.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.61% | 16.68% | +15.93% |
VIXM vs. YQQQ - Expense Ratio Comparison
VIXM has a 0.85% expense ratio, which is lower than YQQQ's 0.99% expense ratio.
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 30.23%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
VIXM ProShares VIX Mid-Term Futures ETF | 0.00% | 0.00% | 0.00% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | 30.23% | 31.71% | 7.88% |
Frequently Asked Questions
VIXM and YQQQ have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YQQQ has higher volatility (5.53%) compared to VIXM (3.09%). In terms of maximum drawdown, VIXM dropped -96.23% vs YQQQ's -29.10%.
On 1-year performance, YQQQ leads with -8.89% vs -14.47% for VIXM. On fees, VIXM is cheaper at 0.85% per year. On volatility, VIXM has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, YQQQ has performed better with a -8.89% return vs -14.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VIXM is cheaper with a 0.85% expense ratio, compared with 0.99% for YQQQ.
YQQQ has the higher dividend yield at 30.23%, compared with 0.00% for VIXM.
VIXM is categorized as Volatility, while YQQQ is Derivative Income. They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.85% for VIXM and 0.99% for YQQQ.
YQQQ currently has the higher Sharpe Ratio (-0.61 vs -0.79), 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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