VXX vs. QID
VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) and QID (ProShares UltraShort QQQ) are both exchange-traded funds - VXX is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index Total Return, while QID is a Leveraged Equities fund tracking the NASDAQ-100 Index (-200%). Both are passively managed. Over the past 10 years, VXX returned -46.79%/yr vs -38.08%/yr for QID. A 0.71 correlation means they provide meaningful diversification when combined. VXX charges 0.89%/yr vs 0.95%/yr for QID.
Performance
VXX vs. QID - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VXX achieves a -17.72% return, which is significantly higher than QID's -25.93% return. Over the past 10 years, VXX has underperformed QID with an annualized return of -46.79%, while QID has yielded a comparatively higher -38.08% annualized return.
VXX
- 1D
- 3.08%
- 1M
- -10.00%
- 6M
- -15.71%
- YTD
- -17.72%
- 1Y
- -51.81%
- 3Y*
- -38.94%
- 5Y*
- -45.73%
- 10Y*
- -46.79%
QID
- 1D
- 3.88%
- 1M
- 3.29%
- 6M
- -22.92%
- YTD
- -25.93%
- 1Y
- -38.72%
- 3Y*
- -34.83%
- 5Y*
- -29.05%
- 10Y*
- -38.08%
VXX vs. QID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | -17.72% | -42.21% | -26.22% | -72.52% | -23.80% | -72.41% | 11.04% | -67.75% | 67.91% | -72.64% |
QID ProShares UltraShort QQQ | -25.93% | -34.97% | -34.06% | -57.19% | 66.30% | -44.93% | -69.71% | -49.57% | -9.90% | -44.00% |
Correlation
The correlation between VXX and QID is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2009 | 0.71 |
The correlation between VXX and QID has been stable across timeframes, ranging from 0.67 to 0.71 - 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
VXX vs. QID — Risk / Return Rank
VXX
QID
VXX vs. QID - 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 ProShares UltraShort QQQ (QID). 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 | QID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.83 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.87 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.55 | -1.71 | +0.16 |
Loading charts...
Drawdowns
VXX vs. QID - Drawdown Comparison
The maximum VXX drawdown since its inception was -100.00%, roughly equal to the maximum QID drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for VXX and QID.
Loading charts...
Drawdown Indicators
| VXX | QID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.99% | -0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -53.98% | -44.65% | -9.33% |
Max Drawdown (3Y)Largest decline over 3 years | -80.49% | -79.50% | -0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -96.22% | -88.72% | -7.50% |
Max Drawdown (10Y)Largest decline over 10 years | -99.82% | -99.25% | -0.57% |
Current DrawdownCurrent decline from peak | -100.00% | -99.99% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -95.09% | -87.05% | -8.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.53% | 22.67% | +10.86% |
Volatility
VXX vs. QID - Volatility Comparison
The current volatility for iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) is 14.39%, while ProShares UltraShort QQQ (QID) has a volatility of 17.47%. This indicates that VXX experiences smaller price fluctuations and is considered to be less risky than QID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VXX | QID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.39% | 17.47% | -3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 43.73% | 30.68% | +13.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.27% | 37.22% | +19.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.95% | 45.60% | +22.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.30% | 44.85% | +25.45% |
VXX vs. QID - Expense Ratio Comparison
VXX has a 0.89% expense ratio, which is lower than QID's 0.95% expense ratio.
Dividends
VXX vs. QID - Dividend Comparison
VXX has not paid dividends to shareholders, while QID's dividend yield for the trailing twelve months is around 7.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | 7.96% | 6.25% | 7.99% | 5.63% | 0.15% | 0.00% | 0.92% | 2.54% | 1.38% | 0.08% |
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VXX and QID have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QID has higher volatility (17.47%) compared to VXX (14.39%). In terms of maximum drawdown, VXX dropped -100.00% vs QID's -99.99%.
On 10-year performance, QID leads with -38.08% vs -46.79% for VXX. On fees, VXX is cheaper at 0.89% per year. On volatility, VXX has been the lower-risk option at 14.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QID has performed better with a -38.08% return vs -46.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VXX is cheaper with a 0.89% expense ratio, compared with 0.95% for QID.
QID has the higher dividend yield at 7.96%, compared with 0.00% for VXX.
VXX is categorized as Volatility, while QID is Leveraged Equities. VXX tracks S&P 500 VIX Short-Term Futures Index Total Return, while QID tracks NASDAQ-100 Index (-200%). They also come from different issuers: Barclays Capital and ProShares. Their fees differ too: 0.89% for VXX and 0.95% for QID.
VXX currently has the higher Sharpe Ratio (-0.93 vs -1.05), 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 VXX and QID
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