VXX vs. VTI
VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) and VTI (Vanguard Total Stock Market ETF) are both exchange-traded funds - VXX is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index Total Return, while VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index. Both are passively managed. Over the past 10 years, VXX returned -46.79%/yr vs 14.67%/yr for VTI. At a correlation of -0.78, they often move in opposite directions. VXX charges 0.89%/yr vs 0.03%/yr for VTI.
Performance
VXX vs. VTI - Performance Comparison
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Returns By Period
In the year-to-date period, VXX achieves a -17.72% return, which is significantly lower than VTI's 10.96% return. Over the past 10 years, VXX has underperformed VTI with an annualized return of -46.79%, while VTI has yielded a comparatively higher 14.67% 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%
VTI
- 1D
- -0.78%
- 1M
- 1.22%
- 6M
- 8.45%
- YTD
- 10.96%
- 1Y
- 21.85%
- 3Y*
- 19.76%
- 5Y*
- 12.01%
- 10Y*
- 14.67%
VXX vs. VTI - 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% |
VTI Vanguard Total Stock Market ETF | 10.96% | 17.10% | 23.81% | 26.05% | -19.52% | 25.68% | 21.08% | 30.67% | -5.23% | 21.21% |
Correlation
The correlation between VXX and VTI is -0.76, 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 | -0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2009 | -0.78 |
The correlation between VXX and VTI has been stable across timeframes, ranging from -0.78 to -0.73 - a consistent structural relationship.
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Return for Risk
VXX vs. VTI — Risk / Return Rank
VXX
VTI
VXX vs. VTI - 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 Vanguard Total Stock Market ETF (VTI). 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 | VTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.83 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.31 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.46 | -3.42 |
| Martin ratioReturn relative to average drawdown | -1.55 | 10.78 | -12.32 |
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Drawdowns
VXX vs. VTI - Drawdown Comparison
The maximum VXX drawdown since its inception was -100.00%, which is greater than VTI's maximum drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for VXX and VTI.
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Drawdown Indicators
| VXX | VTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -55.45% | -44.55% |
Max Drawdown (1Y)Largest decline over 1 year | -53.98% | -8.92% | -45.06% |
Max Drawdown (3Y)Largest decline over 3 years | -80.49% | -19.30% | -61.19% |
Max Drawdown (5Y)Largest decline over 5 years | -96.22% | -25.36% | -70.86% |
Max Drawdown (10Y)Largest decline over 10 years | -99.82% | -35.00% | -64.82% |
Current DrawdownCurrent decline from peak | -100.00% | -0.94% | -99.06% |
Average DrawdownAverage peak-to-trough decline | -95.09% | -8.00% | -87.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.53% | 2.03% | +31.50% |
Volatility
VXX vs. VTI - Volatility Comparison
iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) has a higher volatility of 14.39% compared to Vanguard Total Stock Market ETF (VTI) at 4.08%. This indicates that VXX's price experiences larger fluctuations and is considered to be riskier than VTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VXX | VTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.39% | 4.08% | +10.31% |
Volatility (6M)Calculated over the trailing 6-month period | 43.73% | 10.13% | +33.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.27% | 12.85% | +43.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.95% | 17.51% | +50.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.30% | 18.29% | +52.01% |
VXX vs. VTI - Expense Ratio Comparison
VXX has a 0.89% expense ratio, which is higher than VTI's 0.03% expense ratio.
Dividends
VXX vs. VTI - Dividend Comparison
VXX has not paid dividends to shareholders, while VTI's dividend yield for the trailing twelve months is around 1.05%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTI Vanguard Total Stock Market ETF | 1.05% | 1.12% | 1.27% | 1.44% | 1.66% | 1.21% | 1.42% | 1.78% | 2.04% | 1.71% | 1.92% | 1.98% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
VXX and VTI have a correlation of -0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VXX has higher volatility (14.39%) compared to VTI (4.08%). In terms of maximum drawdown, VXX dropped -100.00% vs VTI's -55.45%.
On 10-year performance, VTI leads with 14.67% vs -46.79% for VXX. On fees, VTI is cheaper at 0.03% per year. On volatility, VTI has been the lower-risk option at 4.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VTI has performed better with a 14.67% return vs -46.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTI is cheaper with a 0.03% expense ratio, compared with 0.89% for VXX.
VTI has the higher dividend yield at 1.05%, compared with 0.00% for VXX.
VXX is categorized as Volatility, while VTI is Large Cap Blend Equities. VXX tracks S&P 500 VIX Short-Term Futures Index Total Return, while VTI tracks CRSP US Total Market Index. They also come from different issuers: Barclays Capital and Vanguard. Their fees differ too: 0.89% for VXX and 0.03% for VTI.
VTI currently has the higher Sharpe Ratio (1.71 vs -0.93), 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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