XV vs. SVXY

Last updated Jun 24, 2026

XV (Simplify Target 15 Distribution ETF) and SVXY (ProShares Short VIX Short-Term Futures ETF) are both exchange-traded funds - XV is a Derivative Income fund actively managed by Simplify, while SVXY is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index (-0.5x). XV is actively managed, while SVXY is passively managed. Over the past year, XV returned 11.50% vs 35.14% for SVXY. A 0.57 correlation means they provide meaningful diversification when combined. XV charges 0.75%/yr vs 0.95%/yr for SVXY.

Performance

XV vs. SVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Target 15 Distribution ETF (XV) and ProShares Short VIX Short-Term Futures ETF (SVXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XV achieves a 3.78% return, which is significantly higher than SVXY's -0.69% return.

XV

• 1D: -0.64%
• 1M: 1.14%
• YTD: 3.78%
• 6M: 3.82%
• 1Y: 11.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SVXY

• 1D: -2.69%
• 1M: 4.23%
• YTD: -0.69%
• 6M: 0.15%
• 1Y: 35.14%
• 3Y*: 10.26%
• 5Y*: 14.63%
• 10Y*: 2.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XV vs. SVXY - Yearly Performance Comparison

	2026 (YTD)	2025
XV Simplify Target 15 Distribution ETF	3.78%	16.13%
SVXY ProShares Short VIX Short-Term Futures ETF	-0.69%	51.48%

Correlation

The correlation between XV and SVXY 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 (All Time) Calculated using the full available price history since Apr 15, 2025	0.57

The correlation between XV and SVXY has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.

Return for Risk

XV vs. SVXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XV

XV Risk / Return Rank: 40
XV Sharpe Ratio Rank: 38
XV Sortino Ratio Rank: 37
XV Omega Ratio Rank: 36
XV Calmar Ratio Rank: 43
XV Martin Ratio Rank: 48

SVXY

SVXY Risk / Return Rank: 34
SVXY Sharpe Ratio Rank: 35
SVXY Sortino Ratio Rank: 33
SVXY Omega Ratio Rank: 37
SVXY Calmar Ratio Rank: 32
SVXY Martin Ratio Rank: 35

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XV vs. SVXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Target 15 Distribution ETF (XV) and ProShares Short VIX Short-Term Futures ETF (SVXY). 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.

	XV	SVXY	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.22	+0.05
Sortino ratio: Return per unit of downside risk	1.82	1.69	+0.12
Omega ratio: Gain probability vs. loss probability	1.23	1.24	-0.01
Calmar ratio: Return relative to maximum drawdown	2.02	1.54	+0.48
Martin ratio: Return relative to average drawdown	7.61	5.02	+2.59

XV vs. SVXY - Sharpe Ratio Comparison

The current XV Sharpe Ratio is 1.27, which is comparable to the SVXY Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of XV and SVXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XV vs. SVXY - Drawdown Comparison

The maximum XV drawdown since its inception was -5.73%, smaller than the maximum SVXY drawdown of -95.25%. Use the drawdown chart below to compare losses from any high point for XV and SVXY.

Drawdown Indicators

	XV	SVXY	Difference
Max Drawdown Largest peak-to-trough decline	-5.73%	-95.25%	+89.52%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-22.94%	+17.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-46.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-95.25%	—
Current Drawdown Current decline from peak	-0.70%	-80.10%	+79.40%
Average Drawdown Average peak-to-trough decline	-0.97%	-56.93%	+55.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	7.02%	-5.50%

Volatility

XV vs. SVXY - Volatility Comparison

The current volatility for Simplify Target 15 Distribution ETF (XV) is 3.23%, while ProShares Short VIX Short-Term Futures ETF (SVXY) has a volatility of 8.75%. This indicates that XV experiences smaller price fluctuations and is considered to be less risky than SVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XV	SVXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	8.75%	-5.52%
Volatility (6M) Calculated over the trailing 6-month period	6.47%	22.73%	-16.26%
Volatility (1Y) Calculated over the trailing 1-year period	9.18%	28.95%	-19.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.87%	35.40%	-24.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.87%	49.67%	-38.80%

XV vs. SVXY - Expense Ratio Comparison

XV has a 0.75% expense ratio, which is lower than SVXY's 0.95% expense ratio.

Dividends

XV vs. SVXY - Dividend Comparison

XV's dividend yield for the trailing twelve months is around 19.11%, while SVXY has not paid dividends to shareholders.

Position	TTM	2025
SVXY ProShares Short VIX Short-Term Futures ETF	0.00%	0.00%
XV Simplify Target 15 Distribution ETF	19.11%	13.87%

Frequently Asked Questions

Can I hold both XV and SVXY in my portfolio?

XV and SVXY 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.

Which is riskier, XV or SVXY?

SVXY has higher volatility (8.75%) compared to XV (3.23%). In terms of maximum drawdown, XV dropped -5.73% vs SVXY's -95.25%.

Which ETF is better, XV or SVXY?

On 1-year performance, SVXY leads with 35.14% vs 11.50% for XV. On fees, XV is cheaper at 0.75% per year. On volatility, XV has been the lower-risk option at 3.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XV or SVXY?

Over the 1-year period, SVXY has performed better with a 35.14% return vs 11.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XV or SVXY?

XV is cheaper with a 0.75% expense ratio, compared with 0.95% for SVXY.

Which ETF pays a higher dividend yield, XV or SVXY?

XV has the higher dividend yield at 19.11%, compared with 0.00% for SVXY.

What is the main difference between XV and SVXY?

XV is categorized as Derivative Income, while SVXY is Volatility. They also come from different issuers: Simplify and ProShares. Their fees differ too: 0.75% for XV and 0.95% for SVXY.

Which has better risk-adjusted returns?

XV currently has the higher Sharpe Ratio (1.27 vs 1.22), 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.