XXXX vs. ^VVIX
XXXX (MAX S&P 500 4X Leveraged ETN) is Leveraged Equities fund tracking the S&P 500 Index (400%), while ^VVIX (Cboe VVIX Index) is an index. Over the past year, XXXX returned 50.23% vs -16.53% for ^VVIX. Their -0.68 correlation means they have often moved in opposite directions in the past.
Performance
XXXX vs. ^VVIX - Performance Comparison
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Returns By Period
In the year-to-date period, XXXX achieves a 17.80% return, which is significantly higher than ^VVIX's -1.11% return.
XXXX
- 1D
- 2.70%
- 1M
- -1.64%
- 6M
- 14.26%
- YTD
- 17.80%
- 1Y
- 50.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 43.46%
^VVIX
- 1D
- -3.19%
- 1M
- 3.20%
- 6M
- -15.29%
- YTD
- -1.11%
- 1Y
- -16.53%
- 3Y*
- 1.56%
- 5Y*
- -4.63%
- 10Y*
- -0.24%
- ALL TIME*
- 0.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^VVIX Cboe VVIX Index | $0.00 | $0.00 | $0.00 |
| $20.46M | $24.54M | $27.64M |
XXXX vs. ^VVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XXXX MAX S&P 500 4X Leveraged ETN | 17.80% | 17.36% | 61.36% | 16.77% |
^VVIX Cboe VVIX Index | -1.11% | -11.18% | 19.97% | -0.91% |
Correlation
The correlation between XXXX and ^VVIX is -0.70, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.70 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2023 | -0.68 |
The correlation between XXXX and ^VVIX has been stable across timeframes, ranging from -0.70 to -0.68 - a consistent structural relationship.
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Return for Risk
XXXX vs. ^VVIX — Risk / Return Rank
XXXX
^VVIX
XXXX vs. ^VVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MAX S&P 500 4X Leveraged ETN (XXXX) and Cboe VVIX Index (^VVIX). 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.
| XXXX | ^VVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.06 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | -0.18 | +1.26 |
| Martin ratioReturn relative to average drawdown | 3.77 | -0.27 | +4.04 |
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Drawdowns
XXXX vs. ^VVIX - Drawdown Comparison
The maximum XXXX drawdown since its inception was -62.27%, roughly equal to the maximum ^VVIX drawdown of -64.71%. Use the drawdown chart below to compare losses from any high point for XXXX and ^VVIX.
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Drawdown Indicators
| XXXX | ^VVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.27% | -64.71% | +2.44% |
Max Drawdown (1Y)Largest decline over 1 year | -37.25% | -38.94% | +1.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -52.75% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -53.07% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -64.71% | — |
Current DrawdownCurrent decline from peak | -11.53% | -55.86% | +44.33% |
Average DrawdownAverage peak-to-trough decline | -11.54% | -44.01% | +32.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.68% | 25.02% | -14.34% |
Volatility
XXXX vs. ^VVIX - Volatility Comparison
The current volatility for MAX S&P 500 4X Leveraged ETN (XXXX) is 14.40%, while Cboe VVIX Index (^VVIX) has a volatility of 25.85%. This indicates that XXXX experiences smaller price fluctuations and is considered to be less risky than ^VVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XXXX | ^VVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.40% | 25.85% | -11.45% |
Volatility (6M)Calculated over the trailing 6-month period | 40.30% | 64.83% | -24.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.96% | 89.10% | -38.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.70% | 88.44% | -27.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.70% | 86.29% | -25.59% |
Frequently Asked Questions
XXXX and ^VVIX have a correlation of -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^VVIX has higher volatility (25.85%) compared to XXXX (14.40%). In terms of maximum drawdown, XXXX dropped -62.27% vs ^VVIX's -64.71%.
XXXX currently has the higher Sharpe Ratio (0.79 vs -0.08), 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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