^VIX vs. SPY
Compare and contrast key facts about CBOE Volatility Index (^VIX) and SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^VIX or SPY.
Correlation
The correlation between ^VIX and SPY is 0.98, 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
^VIX vs. SPY - Performance Comparison
Key characteristics
^VIX:
0.58
SPY:
0.54
^VIX:
2.28
SPY:
0.89
^VIX:
1.28
SPY:
1.13
^VIX:
1.17
SPY:
0.58
^VIX:
2.18
SPY:
2.39
^VIX:
45.88%
SPY:
4.51%
^VIX:
171.20%
SPY:
20.07%
^VIX:
-88.70%
SPY:
-55.19%
^VIX:
-67.99%
SPY:
-10.54%
Returns By Period
In the year-to-date period, ^VIX achieves a 52.56% return, which is significantly higher than SPY's -6.44% return. Over the past 10 years, ^VIX has underperformed SPY with an annualized return of 7.02%, while SPY has yielded a comparatively higher 11.95% annualized return.
^VIX
52.56%
54.34%
38.73%
65.75%
-5.73%
7.02%
SPY
-6.44%
-5.00%
-5.02%
9.54%
15.80%
11.95%
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Risk-Adjusted Performance
^VIX vs. SPY — Risk-Adjusted Performance Rank
^VIX
SPY
^VIX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for CBOE Volatility Index (^VIX) and SPDR S&P 500 ETF (SPY). 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.
Drawdowns
^VIX vs. SPY - Drawdown Comparison
The maximum ^VIX drawdown since its inception was -88.70%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ^VIX and SPY. For additional features, visit the drawdowns tool.
Volatility
^VIX vs. SPY - Volatility Comparison
CBOE Volatility Index (^VIX) has a higher volatility of 82.11% compared to SPDR S&P 500 ETF (SPY) at 15.09%. This indicates that ^VIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.