VIXY vs. VXX
Compare and contrast key facts about ProShares VIX Short-Term Futures ETF (VIXY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX).
VIXY and VXX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VIXY is a passively managed fund by ProFund Advisors LLC that tracks the performance of the S&P 500 VIX Short-Term Futures Index Total Return. It was launched on Jan 3, 2011. VXX is a passively managed fund by Barclays Capital that tracks the performance of the S&P 500 VIX Short-Term Futures Index Total Return. It was launched on Jan 19, 2018. Both VIXY and VXX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
VIXY vs. VXX - Performance Comparison
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VIXY vs. VXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIXY ProShares VIX Short-Term Futures ETF | 30.93% | -43.05% | -27.43% | -72.74% | -24.98% | -72.40% | 10.54% | -67.81% | 66.78% | -72.78% |
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | 31.21% | -42.21% | -26.22% | -72.52% | -23.80% | -72.41% | 11.04% | -67.75% | 67.91% | -72.64% |
Returns By Period
The year-to-date returns for both investments are quite close, with VIXY having a 30.93% return and VXX slightly higher at 31.21%. Both investments have delivered pretty close results over the past 10 years, with VIXY having a -46.69% annualized return and VXX not far ahead at -46.34%.
VIXY
- 1D
- -2.27%
- 1M
- 18.96%
- YTD
- 30.93%
- 6M
- 4.58%
- 1Y
- -33.30%
- 3Y*
- -42.97%
- 5Y*
- -45.91%
- 10Y*
- -46.69%
VXX
- 1D
- -2.72%
- 1M
- 18.69%
- YTD
- 31.21%
- 6M
- 5.34%
- 1Y
- -32.54%
- 3Y*
- -42.18%
- 5Y*
- -45.27%
- 10Y*
- -46.34%
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VIXY vs. VXX - Expense Ratio Comparison
VIXY has a 0.85% expense ratio, which is lower than VXX's 0.89% expense ratio.
Return for Risk
VIXY vs. VXX — Risk / Return Rank
VIXY
VXX
VIXY vs. VXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Short-Term Futures ETF (VIXY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX). 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.
| VIXY | VXX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.45 | -0.44 | -0.01 |
Sortino ratioReturn per unit of downside risk | -0.27 | -0.25 | -0.02 |
Omega ratioGain probability vs. loss probability | 0.97 | 0.97 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | -0.48 | -0.47 | -0.01 |
Martin ratioReturn relative to average drawdown | -0.61 | -0.59 | -0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VIXY | VXX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.45 | -0.44 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.65 | -0.66 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.64 | -0.65 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.68 | -0.75 | +0.07 |
Correlation
The correlation between VIXY and VXX is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VIXY vs. VXX - Dividend Comparison
Neither VIXY nor VXX has paid dividends to shareholders.
Drawdowns
VIXY vs. VXX - Drawdown Comparison
The maximum VIXY drawdown since its inception was -100.00%, roughly equal to the maximum VXX drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for VIXY and VXX.
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Drawdown Indicators
| VIXY | VXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -69.84% | -69.85% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -96.84% | -96.67% | -0.17% |
Max Drawdown (10Y)Largest decline over 10 years | -99.88% | -99.87% | -0.01% |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -92.10% | -95.03% | +2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.73% | 54.84% | -0.11% |
Volatility
VIXY vs. VXX - Volatility Comparison
ProShares VIX Short-Term Futures ETF (VIXY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) have volatilities of 29.36% and 28.80%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIXY | VXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.36% | 28.80% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 47.36% | 46.98% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.05% | 74.80% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.36% | 69.04% | +2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.66% | 71.15% | +1.51% |