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SVIX vs SVXY

-1x Short VIX Futures ETF

SVIXCCboe

ProShares Short VIX Short-Term Futures ETF

SVXYBCboe

Overlap

Expense ratio

SVXY −0.52pt a year

SVIX1.47%SVXY0.95%

Avg volume · 30D

SVIX 1.6×the volume

SVIX2.6MSVXY1.58M

3Y return · a year

SVXY +16.8pt

SVIX−7.5%SVXY+9.3%

SVIX vs SVXY Performance

Nov 7, 2025 – Nov 9, 2026

+19.4%SVIX+19.5%SVXY

Nov 7, 2025 to Nov 9, 2026. SVIX +19.4%. SVXY +19.5%. Use the arrow keys to read each point.−20%0%40%60%Nov 2025May 2026Nov 2026
Expense ratio
SVIX 1.47%
SVXY 0.95%, better
Fund size
SVIX $176M
SVXY $185M
1Y total return
SVIX +19.4%
SVXY +19.5%, better
Holdings
SVIX 2
SVXY 1
Avg volume (30D)
SVIX 2.6M sh, better
SVXY 1.58M sh
NAV per share
SVIX $20.42
SVXY $54.78
52W range

ETF.net Grade

SVIX: Cost 50, Risk 47, Mission not scored, Tradability 60, Holdings not scored, Durability 55. SVXY: Cost 50, Risk 71, Mission not scored, Tradability 88, Holdings not scored, Durability 76.
Pillar letters and Scores for SVIX, SVXY, with each pillar’s weight
PillarSVIXSVXY
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightC47A71Higher
Tradability15% weightB60A88Higher
Holdings10% weightNot scoredNot scored
Durability5% weightB55A76Higher

Rank among Leveraged Inverse (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. SVIX and SVXY are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

SVXY ranks 1st and SVIX 18th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BPSQProShares Short QQQScore 65
  3. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  4. Rank 4BRWMProShares Short Russell2000Score 63
  5. Rank 14BSRSProShares UltraShort Real EstateScore 53
  6. Rank 18CSVIX-1x Short VIX Futures ETFScore 52
  7. Rank 18CTWMProShares UltraShort Russell2000Score 52

Our read on each fund

ETF.net Research

SVIXC-1x Short VIX Futures ETF

SVXYBProShares Short VIX Short-Term Futures ETF

In short

SVIX The undiluted short-volatility trade. SVIX aims for the full inverse of a VIX futures index for one day at a time, the dose the market's older short-vol ETF gave up when it halved its target back in 2018.

SVXY Short volatility, half dose. SVXY targets one-half the inverse of a VIX short-term futures index each day, a deliberately de-tuned take on the short-vol trade, and it has run that mandate since 2011.

Stated mandate

SVIX SVIX seeks daily investment results corresponding to the Short VIX Futures Index for one day only. Its exposure is obtained through VIX futures and related instruments, with daily inverse performance and compounding effects.

SVXY SVXY seeks daily results equal to one-half the inverse of the S&P 500 VIX Short-Term Futures Index. Its objective is measured daily, so returns over longer periods can differ from the stated daily target.

Why people hold it

  • SVIX Full-strength short vol: SVIX targets -1x the daily move of the Short VIX Futures Index, while the long-running alternative (SVXY) has targeted only -0.5x since 2018.proshares.com
  • No futures account needed. The VIX futures exposure sits inside a commodity pool that trades in an ordinary brokerage account, and the fund is actively traded.
  • Rules, not a trader's hunch: exposure tracks a named benchmark, the Short VIX Futures Index, and resets every day.
  • SVXY The half-strength design is the whole idea: a -0.5x daily target rather than full inverse, so a jump in VIX futures lands with half the force of a one-for-one short.proshares.com
  • 0.95% a year sits below the typical leveraged and inverse fund, and among that crowd this is one of the stronger implementations in its peer group.
  • Launched in 2011 and actively traded, so it has a long operating history and a working market for getting in and out.

Worth knowing

  • SVIX At 1.47% a year, the fee sits above the typical leveraged and inverse fund in its group. Part of the price of the full -1x wrapper.
  • Built for one day only. Daily resets compound, so a stretch of days can land far from -1x the index over that same stretch.
  • Short vol leans on calm markets and takes the pain when VIX futures spike. In 2018, one such spike led ProShares to cut its short-vol ETF's target exposure in half.sec.govproshares.com
  • SVXY The objective resets daily. Hold longer and compounding takes over, so results over weeks or months can look nothing like half the inverse of the index.proshares.com
  • It is a commodity pool holding VIX futures, not a basket of stocks. Reporting and tax treatment follow different rules than a standard equity ETF.proshares.com
  • Pure price vehicle with no distribution stream, and volatility spikes arrive fast, which is exactly what a short-vol position is on the wrong side of.

Full SVIX profile⁠

Full SVXY profile⁠

SVIX vs SVXY Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SVIX vs SVXY Cost

Overpaying SVIX vs SVXY

$7,987

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SVIX 1.47%

    $25,856

  • SVXY 0.95%

    $17,869

$10,000
30 years

Cost over time

  • SVIX 1.47%
  • SVXY 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530SVIX $25,856SVXY $17,869

Year by year

YearSVIXSVXYOverpaying
10$2,541$1,678$863
20$9,353$6,322$3,031
30$25,856$17,869$7,987

Expense ratio

  • 1.47%SVIX
  • 0.95%SVXY, cheaper
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

SVXY 6th cheapest of 53 funds

SVIX 53rd cheapest of 53 funds

SVIX vs SVXY Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
SVIX None
SVXY None

Distribution history

SVIXAll SVIX payments⁠

No distribution history available.

SVXYAll SVXY payments⁠

No distribution history available.

SVIX vs SVXY Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SVIX 55.4%SVXY 26.5%, better
Return per unit of riskSharpe ratio, 3 years
SVIX 0.19SVXY 0.42, better
Worst fallMax drawdown, 5 years
SVIX −79.3%since Mar 2022SVXY −46.4%
Market sensitivityBeta, 5 years
SVIX 2.95SVXY 1.30

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