WEBS vs. VXX
WEBS (Daily Dow Jones Internet Bear 3X Shares) and VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) are both exchange-traded funds - WEBS is a Leveraged Equities fund tracking the Dow Jones Internet Composite Index (300%), while VXX is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index Total Return. Both are passively managed. Over the past 5 years, WEBS returned -33.85%/yr vs -46.49%/yr for VXX. A 0.59 correlation means they provide meaningful diversification when combined. WEBS charges 1.07%/yr vs 0.89%/yr for VXX.
Performance
WEBS vs. VXX - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a -11.73% return, which is significantly higher than VXX's -18.96% return.
WEBS
- 1D
- 4.75%
- 1M
- -3.57%
- 6M
- -16.73%
- YTD
- -11.73%
- 1Y
- -16.44%
- 3Y*
- -44.25%
- 5Y*
- -33.85%
- 10Y*
- —
VXX
- 1D
- 2.88%
- 1M
- -4.96%
- 6M
- -18.50%
- YTD
- -18.96%
- 1Y
- -53.28%
- 3Y*
- -39.21%
- 5Y*
- -46.49%
- 10Y*
- -46.77%
WEBS vs. VXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -11.73% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | -18.96% | -42.21% | -26.22% | -72.52% | -23.80% | -72.41% | 11.04% | -21.33% |
Correlation
The correlation between WEBS and VXX is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.59 |
The correlation between WEBS and VXX has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.
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Return for Risk
WEBS vs. VXX — Risk / Return Rank
WEBS
VXX
WEBS vs. VXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) 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.
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.
| WEBS | VXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.83 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | -0.98 | +0.67 |
| Martin ratioReturn relative to average drawdown | -0.68 | -1.57 | +0.88 |
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Drawdowns
WEBS vs. VXX - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, roughly equal to the maximum VXX drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for WEBS and VXX.
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Drawdown Indicators
| WEBS | VXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -100.00% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -54.59% | +1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -80.75% | -9.58% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -96.27% | -0.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.82% | — |
Current DrawdownCurrent decline from peak | -99.57% | -100.00% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -91.18% | -95.09% | +3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.10% | 34.04% | -9.94% |
Volatility
WEBS vs. VXX - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) has a higher volatility of 18.31% compared to iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) at 12.14%. This indicates that WEBS's price experiences larger fluctuations and is considered to be riskier than VXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WEBS | VXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.31% | 12.14% | +6.17% |
Volatility (6M)Calculated over the trailing 6-month period | 47.79% | 43.82% | +3.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.11% | 56.30% | +3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.26% | 67.94% | +14.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.49% | 70.29% | +19.20% |
WEBS vs. VXX - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is higher than VXX's 0.89% expense ratio.
Dividends
WEBS vs. VXX - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 3.10%, while VXX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.10% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% |
Frequently Asked Questions
WEBS and VXX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEBS has higher volatility (18.31%) compared to VXX (12.14%). In terms of maximum drawdown, WEBS dropped -99.63% vs VXX's -100.00%.
On 5-year performance, WEBS leads with -33.85% vs -46.49% for VXX. On fees, VXX is cheaper at 0.89% per year. On volatility, VXX has been the lower-risk option at 12.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, WEBS has performed better with a -33.85% return vs -46.49%. 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 1.07% for WEBS.
WEBS has the higher dividend yield at 3.10%, compared with 0.00% for VXX.
WEBS is categorized as Leveraged Equities, while VXX is Volatility. WEBS tracks Dow Jones Internet Composite Index (300%), while VXX tracks S&P 500 VIX Short-Term Futures Index Total Return. They also come from different issuers: Direxion and Barclays Capital. Their fees differ too: 1.07% for WEBS and 0.89% for VXX.
WEBS currently has the higher Sharpe Ratio (-0.27 vs -0.95), 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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