VXX vs. EDGE
VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) and EDGE (MRBL Enhanced Equity ETF) are both exchange-traded funds - VXX is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index Total Return, while EDGE is a Derivative Income fund actively managed by MRBL. VXX is passively managed, while EDGE is actively managed. Over the past year, VXX returned -50.97% vs 22.99% for EDGE. At a correlation of -0.82, they often move in opposite directions. VXX charges 0.89%/yr vs 0.74%/yr for EDGE.
Performance
VXX vs. EDGE - Performance Comparison
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Returns By Period
In the year-to-date period, VXX achieves a -15.07% return, which is significantly lower than EDGE's 9.74% return.
VXX
- 1D
- 4.80%
- 1M
- -4.50%
- 6M
- -14.91%
- YTD
- -15.07%
- 1Y
- -50.97%
- 3Y*
- -37.91%
- 5Y*
- -45.98%
- 10Y*
- -46.50%
EDGE
- 1D
- -0.75%
- 1M
- 1.37%
- 6M
- 8.42%
- YTD
- 9.74%
- 1Y
- 22.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VXX vs. EDGE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | -15.07% | -37.14% |
EDGE MRBL Enhanced Equity ETF | 9.74% | 12.94% |
Correlation
The correlation between VXX and EDGE is -0.82, 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 | -0.82 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2025 | -0.82 |
The correlation between VXX and EDGE has been stable across timeframes, ranging from -0.82 to -0.82 - a consistent structural relationship.
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Return for Risk
VXX vs. EDGE — Risk / Return Rank
VXX
EDGE
VXX vs. EDGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and MRBL Enhanced Equity ETF (EDGE). 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.
| VXX | EDGE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.80 | ||
| Sortino ratioReturn per unit of downside risk | -4.05 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.37 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 2.56 | -3.50 |
| Martin ratioReturn relative to average drawdown | -1.49 | 13.11 | -14.61 |
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Drawdowns
VXX vs. EDGE - Drawdown Comparison
The maximum VXX drawdown since its inception was -100.00%, which is greater than EDGE's maximum drawdown of -20.66%. Use the drawdown chart below to compare losses from any high point for VXX and EDGE.
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Drawdown Indicators
| VXX | EDGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -20.66% | -79.34% |
Max Drawdown (1Y)Largest decline over 1 year | -54.59% | -9.01% | -45.58% |
Max Drawdown (3Y)Largest decline over 3 years | -80.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -96.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.82% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -1.38% | -98.62% |
Average DrawdownAverage peak-to-trough decline | -95.09% | -2.70% | -92.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.19% | 1.76% | +32.43% |
Volatility
VXX vs. EDGE - Volatility Comparison
iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) has a higher volatility of 13.10% compared to MRBL Enhanced Equity ETF (EDGE) at 3.53%. This indicates that VXX's price experiences larger fluctuations and is considered to be riskier than EDGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VXX | EDGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.10% | 3.53% | +9.57% |
Volatility (6M)Calculated over the trailing 6-month period | 44.02% | 10.20% | +33.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.52% | 12.18% | +44.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.95% | 15.84% | +52.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.30% | 15.84% | +54.46% |
VXX vs. EDGE - Expense Ratio Comparison
VXX has a 0.89% expense ratio, which is higher than EDGE's 0.74% expense ratio.
Dividends
VXX vs. EDGE - Dividend Comparison
Neither VXX nor EDGE has paid dividends to shareholders.
Frequently Asked Questions
VXX and EDGE have a correlation of -0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VXX has higher volatility (13.10%) compared to EDGE (3.53%). In terms of maximum drawdown, VXX dropped -100.00% vs EDGE's -20.66%.
On 1-year performance, EDGE leads with 22.99% vs -50.97% for VXX. On fees, EDGE is cheaper at 0.74% per year. On volatility, EDGE has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EDGE has performed better with a 22.99% return vs -50.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EDGE is cheaper with a 0.74% expense ratio, compared with 0.89% for VXX.
VXX and EDGE have nearly identical dividend yields, around 0.00%.
VXX is categorized as Volatility, while EDGE is Derivative Income. They also come from different issuers: Barclays Capital and MRBL. Their fees differ too: 0.89% for VXX and 0.74% for EDGE.
EDGE currently has the higher Sharpe Ratio (1.90 vs -0.90), 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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