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 -8.35% vs -14.25% for YQQQ. A 0.58 correlation means they provide meaningful diversification when combined. VIXM charges 0.85%/yr vs 0.99%/yr for YQQQ.
Performance
VIXM vs. YQQQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VIXM achieves a 1.31% return, which is significantly higher than YQQQ's -8.94% 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%
YQQQ
- 1D
- 0.06%
- 1M
- -7.64%
- YTD
- -8.94%
- 6M
- -6.62%
- 1Y
- -14.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VIXM vs. YQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VIXM ProShares VIX Mid-Term Futures ETF | 1.31% | 5.60% | 1.33% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | -8.94% | -9.97% | -4.06% |
Correlation
The correlation between VIXM and YQQQ is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2024 | 0.58 |
The correlation between VIXM and YQQQ has been stable across timeframes, ranging from 0.55 to 0.58 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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.
| VIXM | YQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.83 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | -0.69 | +0.14 |
| Martin ratioReturn relative to average drawdown | -0.96 | -1.68 | +0.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VIXM | YQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | -1.14 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | — | — |
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 | -0.77 | +0.23 |
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 -28.21%. Use the drawdown chart below to compare losses from any high point for VIXM and YQQQ.
Loading charts...
Drawdown Indicators
| VIXM | YQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.23% | -28.21% | -68.02% |
Max Drawdown (1Y)Largest decline over 1 year | -15.22% | -20.82% | +5.60% |
Max Drawdown (3Y)Largest decline over 3 years | -41.41% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -63.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -75.72% | — | — |
Current DrawdownCurrent decline from peak | -95.75% | -28.17% | -67.58% |
Average DrawdownAverage peak-to-trough decline | -81.52% | -14.22% | -67.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.74% | 8.52% | +0.22% |
Volatility
VIXM vs. YQQQ - Volatility Comparison
The current volatility for ProShares VIX Mid-Term Futures ETF (VIXM) is 3.19%, while YieldMax Short N100 Option Income Strategy ETF (YQQQ) has a volatility of 3.90%. 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.
Loading charts...
Volatility by Period
| VIXM | YQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 3.90% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 13.91% | 9.87% | +4.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.98% | 12.51% | +6.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.68% | 16.26% | +14.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.90% | 16.26% | +16.64% |
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 31.75%.
| 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 | 31.75% | 31.71% | 7.88% |
Frequently Asked Questions
VIXM and YQQQ have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YQQQ has higher volatility (3.90%) compared to VIXM (3.19%). In terms of maximum drawdown, VIXM dropped -96.23% vs YQQQ's -28.21%.
On 1-year performance, VIXM leads with -8.35% vs -14.25% for YQQQ. On fees, VIXM is cheaper at 0.85% per year. On volatility, VIXM has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VIXM has performed better with a -8.35% return vs -14.25%. 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 31.75%, 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.
VIXM currently has the higher Sharpe Ratio (-0.44 vs -1.14), 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.
Find the right allocation for VIXM and YQQQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer