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 -36.81%/yr vs -46.46%/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 -17.52% return, which is significantly lower than VXX's -11.22% return.
WEBS
- 1D
- -0.84%
- 1M
- -14.10%
- YTD
- -17.52%
- 6M
- -14.99%
- 1Y
- -29.15%
- 3Y*
- -49.50%
- 5Y*
- -36.81%
- 10Y*
- —
VXX
- 1D
- -3.33%
- 1M
- -18.15%
- YTD
- -11.22%
- 6M
- -24.41%
- 1Y
- -54.83%
- 3Y*
- -42.32%
- 5Y*
- -46.46%
- 10Y*
- -46.89%
WEBS vs. VXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -17.52% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -13.16% |
VXX iPath Series B S&P 500 VIX Short-Term Futures ETN | -11.22% | -42.21% | -26.22% | -72.52% | -23.80% | -72.41% | 11.04% | -20.59% |
Correlation
The correlation between WEBS and VXX is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | 0.59 |
The correlation between WEBS and VXX has been stable across timeframes, ranging from 0.53 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.
| WEBS | VXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.81 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | -0.96 | +0.41 |
| Martin ratioReturn relative to average drawdown | -1.25 | -1.37 | +0.12 |
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
| WEBS | VXX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.51 | -0.99 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | -0.69 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | -0.77 | +0.18 |
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% | -57.39% | +3.85% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -79.68% | -10.65% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -95.79% | -1.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.86% | — |
Current DrawdownCurrent decline from peak | -99.60% | -100.00% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -91.10% | -95.08% | +3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.38% | 40.04% | -16.66% |
Volatility
WEBS vs. VXX - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) has a higher volatility of 15.71% compared to iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) at 8.62%. 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 | 15.71% | 8.62% | +7.09% |
Volatility (6M)Calculated over the trailing 6-month period | 43.40% | 40.99% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.59% | 55.62% | +1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.78% | 67.94% | +13.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.82% | 70.95% | +18.87% |
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 3.96%, 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 | 3.96% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% |
Frequently Asked Questions
WEBS and VXX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEBS has higher volatility (15.71%) compared to VXX (8.62%). In terms of maximum drawdown, WEBS dropped -99.63% vs VXX's -100.00%.
On 5-year performance, WEBS leads with -36.81% vs -46.46% for VXX. On fees, VXX is cheaper at 0.89% per year. On volatility, VXX has been the lower-risk option at 8.62%. 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 -36.81% return vs -46.46%. 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 3.96%, 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 (-0.51 vs -0.99), 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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