XXXX vs. ^VVIX

Performance

Risk-Adjusted Performance

Drawdowns

Volatility

XXXX vs. ^VVIX

Last updated May 19, 2025

Compare and contrast key facts about MAX S&P 500 4X Leveraged ETN (XXXX) and CBOE VIX Volatility Index (^VVIX).

XXXX is a passively managed fund by Max that tracks the performance of the S&P 500. It was launched on Dec 4, 2023.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: XXXX or ^VVIX.

Correlation

The correlation between XXXX and ^VVIX is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Performance

XXXX vs. ^VVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAX S&P 500 4X Leveraged ETN (XXXX) and CBOE VIX Volatility Index (^VVIX). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

XXXX:

-0.02

^VVIX:

0.19

Sortino Ratio

XXXX:

0.59

^VVIX:

1.23

Omega Ratio

XXXX:

1.09

^VVIX:

1.14

Calmar Ratio

XXXX:

0.04

^VVIX:

0.35

Martin Ratio

XXXX:

0.11

^VVIX:

0.63

Ulcer Index

XXXX:

21.40%

^VVIX:

35.29%

Daily Std Dev

XXXX:

77.27%

^VVIX:

115.31%

Max Drawdown

XXXX:

-62.27%

^VVIX:

-78.10%

Current Drawdown

XXXX:

-30.73%

^VVIX:

-54.27%

Returns By Period

In the year-to-date period, XXXX achieves a -18.45% return, which is significantly lower than ^VVIX's -9.00% return.

XXXX

YTD

-18.45%

1M

56.19%

6M

-21.05%

1Y

-1.88%

5Y*

N/A

10Y*

N/A

^VVIX

YTD

-9.00%

1M

-18.34%

6M

-4.03%

1Y

21.05%

5Y*

-5.46%

10Y*

2.65%

*Annualized

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Risk-Adjusted Performance

XXXX vs. ^VVIX — Risk-Adjusted Performance Rank

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

XXXX

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

^VVIX

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

XXXX vs. ^VVIX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for MAX S&P 500 4X Leveraged ETN (XXXX) and CBOE VIX Volatility 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.

The current XXXX Sharpe Ratio is -0.02, which is lower than the ^VVIX Sharpe Ratio of 0.19. The chart below compares the historical Sharpe Ratios of XXXX and ^VVIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Drawdowns

XXXX vs. ^VVIX - Drawdown Comparison

The maximum XXXX drawdown since its inception was -62.27%, smaller than the maximum ^VVIX drawdown of -78.10%. Use the drawdown chart below to compare losses from any high point for XXXX and ^VVIX. For additional features, visit the drawdowns tool.

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Volatility

XXXX vs. ^VVIX - Volatility Comparison

MAX S&P 500 4X Leveraged ETN (XXXX) and CBOE VIX Volatility Index (^VVIX) have volatilities of 20.98% and 21.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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