ZVOL vs. SVXY
Compare and contrast key facts about Volatility Premium Plus ETF (ZVOL) and ProShares Short VIX Short-Term Futures ETF (SVXY).
ZVOL and SVXY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZVOL is a passively managed fund by Volatility Shares that tracks the performance of the S&P 500 VIX Mid Term Futures Inverse Daily Index. It was launched on Apr 17, 2023. SVXY is a passively managed fund by ProShares that tracks the performance of the S&P 500 VIX Short-Term Futures Index (-100%). It was launched on Oct 3, 2011. Both ZVOL and SVXY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
ZVOL vs. SVXY - Performance Comparison
Loading graphics...
ZVOL vs. SVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZVOL Volatility Premium Plus ETF | -11.39% | -10.71% | 9.27% | 51.65% |
SVXY ProShares Short VIX Short-Term Futures ETF | -17.30% | 10.63% | -3.17% | 51.48% |
Returns By Period
In the year-to-date period, ZVOL achieves a -11.39% return, which is significantly higher than SVXY's -17.30% return.
ZVOL
- 1D
- 3.23%
- 1M
- -8.77%
- YTD
- -11.39%
- 6M
- -7.42%
- 1Y
- -12.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SVXY
- 1D
- 4.90%
- 1M
- -12.39%
- YTD
- -17.30%
- 6M
- -10.09%
- 1Y
- 0.09%
- 3Y*
- 12.84%
- 5Y*
- 13.74%
- 10Y*
- -1.26%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ZVOL vs. SVXY - Expense Ratio Comparison
ZVOL has a 1.35% expense ratio, which is lower than SVXY's 1.38% expense ratio.
Return for Risk
ZVOL vs. SVXY — Risk / Return Rank
ZVOL
SVXY
ZVOL vs. SVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Premium Plus ETF (ZVOL) 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.
| ZVOL | SVXY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.42 | 0.00 | -0.42 |
Sortino ratioReturn per unit of downside risk | -0.40 | 0.26 | -0.65 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.04 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | -0.56 | 0.00 | -0.56 |
Martin ratioReturn relative to average drawdown | -1.28 | 0.01 | -1.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| ZVOL | SVXY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.42 | 0.00 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.38 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.19 | +0.13 |
Correlation
The correlation between ZVOL and SVXY is 0.90, 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.
Dividends
ZVOL vs. SVXY - Dividend Comparison
ZVOL's dividend yield for the trailing twelve months is around 69.95%, while SVXY has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZVOL Volatility Premium Plus ETF | 69.95% | 53.44% | 30.68% | 0.55% |
SVXY ProShares Short VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
ZVOL vs. SVXY - Drawdown Comparison
The maximum ZVOL drawdown since its inception was -37.25%, smaller than the maximum SVXY drawdown of -95.25%. Use the drawdown chart below to compare losses from any high point for ZVOL and SVXY.
Loading graphics...
Drawdown Indicators
| ZVOL | SVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.25% | -95.25% | +58.00% |
Max Drawdown (1Y)Largest decline over 1 year | -22.85% | -26.50% | +3.65% |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.45% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -95.25% | — |
Current DrawdownCurrent decline from peak | -29.42% | -83.43% | +54.01% |
Average DrawdownAverage peak-to-trough decline | -12.80% | -56.57% | +43.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.96% | 9.75% | +0.21% |
Volatility
ZVOL vs. SVXY - Volatility Comparison
The current volatility for Volatility Premium Plus ETF (ZVOL) is 9.28%, while ProShares Short VIX Short-Term Futures ETF (SVXY) has a volatility of 15.28%. This indicates that ZVOL 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.
Loading graphics...
Volatility by Period
| ZVOL | SVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.28% | 15.28% | -6.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.78% | 24.61% | -9.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.52% | 38.20% | -8.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.91% | 35.91% | -6.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.91% | 51.24% | -21.33% |