CBOE Volatility Index (^VIX) Historical Monthly & Quarterly Returns
Close-to-close returns by month and quarter. Compare performance across years.
Calculated from 37 years of price history (1990–2026).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +16.7% | +13.9% | +27.1% | 33.1% | +2.9% | — | — | — | — | — | — | — |
| 2025 | 5.3% | +19.5% | +13.5% | +10.9% | 24.8% | 9.9% | 0.1% | 8.1% | +6.0% | +7.1% | 6.3% | 8.6% |
| 2024 | +15.3% | 6.6% | 2.9% | +20.3% | 17.4% | 3.7% | +31.5% | 8.3% | +11.5% | +38.4% | 41.7% | +28.4% |
| 2023 | 10.5% | +6.7% | 9.7% | 15.6% | +13.7% | 24.2% | +0.3% | 0.4% | +29.1% | +3.5% | 28.8% | 3.6% |
| 2022 | +44.2% | +21.4% | 31.8% | +62.5% | 21.6% | +9.6% | 25.7% | +21.3% | +22.2% | 18.2% | 20.5% | +5.3% |
| 2021 | +45.5% | 15.5% | 30.6% | 4.1% | 9.9% | 5.5% | +15.2% | 9.6% | +40.4% | 29.7% | +67.2% | 36.7% |
| 2020 | +36.7% | +112.9% | +33.5% | 36.2% | 19.4% | +10.6% | 19.6% | +8.0% | 0.2% | +44.2% | 45.9% | +10.6% |
| 2019 | 34.8% | 10.8% | 7.2% | 4.3% | +42.6% | 19.4% | +6.9% | +17.7% | 14.4% | 18.6% | 4.5% | +9.2% |
| 2018 | +23.0% | +46.2% | +0.6% | 20.2% | 3.1% | +4.3% | 20.3% | +0.2% | 5.8% | +75.2% | 14.9% | +40.7% |
| 2017 | 14.6% | +7.8% | 4.3% | 12.5% | 3.8% | +7.4% | 8.2% | +3.2% | 10.2% | +7.0% | +10.8% | 2.1% |
| 2016 | +10.9% | +1.7% | 32.1% | +12.5% | 9.6% | +10.1% | 24.1% | +13.1% | 1.0% | +28.4% | 21.9% | +5.3% |
| 2015 | +9.2% | 36.4% | +14.6% | 4.8% | 4.9% | +31.7% | 33.5% | +134.6% | 13.8% | 38.5% | +7.0% | +12.9% |
| 2014 | +34.2% | 24.0% | 0.9% | 3.4% | 15.0% | +1.5% | +46.5% | 29.3% | +36.1% | 14.0% | 5.0% | +44.0% |
| 2013 | 20.8% | +8.6% | 18.1% | +6.5% | +20.6% | +3.4% | 20.2% | +26.5% | 2.4% | 17.2% | 0.4% | +0.1% |
| 2012 | 16.9% | 5.2% | 15.9% | +10.6% | +40.3% | 29.0% | +10.8% | 7.7% | 10.0% | +18.2% | 14.7% | +13.5% |
| 2011 | +10.0% | 6.0% | 3.3% | 16.9% | +4.7% | +6.9% | +52.8% | +25.2% | +35.9% | 30.3% | 7.2% | 15.8% |
| 2010 | +13.6% | 20.8% | 9.8% | +25.4% | +45.4% | +7.7% | 32.0% | +10.9% | 9.0% | 10.5% | +11.0% | 24.6% |
| 2009 | +12.1% | +3.4% | 4.8% | 17.3% | 20.8% | 8.9% | 1.6% | +0.3% | 1.5% | +19.8% | 20.1% | 11.5% |
| 2008 | +16.4% | +1.3% | 3.5% | 18.8% | 14.2% | +34.3% | 4.2% | 10.0% | +90.8% | +52.0% | 7.7% | 27.6% |
| 2007 | 9.9% | +48.0% | 5.1% | 2.9% | 8.2% | +24.4% | +44.9% | 0.6% | 23.0% | +2.9% | +23.4% | 1.6% |
| 2006 | +7.3% | 4.7% | 7.7% | +1.8% | +41.8% | 20.4% | +14.3% | 17.7% | 2.7% | 7.3% | 1.7% | +6.0% |
| 2005 | 3.5% | 5.8% | +16.1% | +9.2% | 13.2% | 9.4% | 3.9% | +8.9% | 5.4% | +28.5% | 21.3% | +0.1% |
| 2004 | 9.2% | 12.5% | +15.1% | +2.7% | 9.8% | 7.5% | +6.8% | 0.2% | 12.8% | +22.0% | 18.6% | +0.4% |
| 2003 | +8.9% | 4.9% | 1.6% | 27.2% | 8.2% | +0.3% | 0.2% | 4.4% | +22.0% | 29.1% | +1.4% | +12.2% |
| 2002 | 11.4% | +2.4% | 19.4% | +25.9% | 8.8% | +27.1% | +26.1% | +1.9% | +21.6% | 21.5% | 11.7% | +4.1% |
| 2001 | 18.0% | +28.7% | +1.0% | 11.0% | 11.1% | 15.8% | +13.4% | +15.3% | +28.1% | +5.1% | 25.7% | 4.5% |
| 2000 | +6.6% | 6.3% | +1.3% | +10.7% | 9.7% | 17.4% | +6.1% | 18.8% | +22.1% | +14.9% | +25.5% | 9.4% |
| 1999 | +7.5% | +6.2% | 16.6% | +7.8% | +1.3% | 16.9% | +16.8% | 0.8% | +3.9% | 12.6% | +8.9% | 3.2% |
| 1998 | 10.6% | 13.6% | +30.6% | 12.6% | +0.7% | 7.6% | +25.8% | +78.5% | 7.5% | 31.5% | 7.3% | 6.1% |
| 1997 | 6.9% | +8.4% | +4.9% | 9.4% | 4.3% | +12.2% | 0.2% | +15.3% | 7.5% | +53.2% | 21.8% | 12.5% |
| 1996 | +0.1% | +36.0% | +10.8% | 16.2% | +1.5% | 14.9% | +42.3% | 12.6% | 0.4% | +6.8% | 5.4% | +22.1% |
| 1995 | 9.4% | 1.8% | +13.8% | 12.1% | +17.2% | 17.4% | +18.5% | 14.6% | +10.6% | +8.6% | 16.3% | +8.1% |
| 1994 | 8.8% | +39.9% | +37.5% | 32.7% | 5.4% | +14.9% | 25.7% | +7.5% | +19.3% | +2.0% | +9.5% | 17.2% |
| 1993 | 1.2% | +6.0% | 4.8% | 0.9% | +8.5% | 16.4% | +4.2% | +1.0% | +9.6% | 11.8% | +20.1% | 15.3% |
| 1992 | 9.9% | 4.1% | 3.0% | 4.0% | 10.8% | 3.7% | 1.3% | +3.1% | +5.2% | +13.1% | 19.4% | 3.4% |
| 1991 | 20.7% | +1.5% | 20.5% | +8.1% | 12.7% | +22.7% | 22.4% | 4.7% | +9.6% | 2.3% | +30.9% | 4.7% |
| 1990 | +47.1% | 13.3% | 10.3% | 1.1% | 11.0% | 10.8% | +36.2% | +41.6% | 2.6% | +3.2% | 26.2% | +19.0% |
| Avg | +3.9% | +6.2% | 1.2% | 2.8% | 1.0% | 0.8% | +4.9% | +8.0% | +8.2% | +4.5% | 5.5% | +0.9% |
| Median | +0.1% | +1.5% | 3.3% | 4.0% | 8.2% | 3.7% | +2.2% | +0.7% | +1.9% | +3.4% | 7.2% | 0.8% |
| Win % | 51% | 54% | 38% | 38% | 35% | 47% | 53% | 56% | 50% | 58% | 31% | 50% |
2026
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
1991
1990
Avg
Median
Win %
Frequently asked questions
What is the best performing month for CBOE Volatility Index (^VIX) index?
Historically, September is the best performing month for CBOE Volatility Index (^VIX) index with an average return of +8.17%.
What is the worst performing month for CBOE Volatility Index (^VIX) index?
Historically, November is the worst performing month for CBOE Volatility Index (^VIX) index with an average return of 5.53%.
What is the best performing quarter for CBOE Volatility Index (^VIX) index?
Historically, Q3 is the best performing quarter for CBOE Volatility Index (^VIX) index with an average return of +19.73%.
What is the worst performing quarter for CBOE Volatility Index (^VIX) index?
Historically, Q2 is the worst performing quarter for CBOE Volatility Index (^VIX) index with an average return of 5.47%.
What is the best performing year for CBOE Volatility Index (^VIX) index?
Historically, 2018 is the best performing year for CBOE Volatility Index (^VIX) index with a return of +130.25%.
What is the worst performing year for CBOE Volatility Index (^VIX) index?
Historically, 2009 is the worst performing year for CBOE Volatility Index (^VIX) index with a return of 45.80%.
Which month has the highest win rate for CBOE Volatility Index (^VIX) index?
Historically, October has the highest win rate for CBOE Volatility Index (^VIX) index — positive in 58% of years.
Which month has the lowest win rate for CBOE Volatility Index (^VIX) index?
Historically, November has the lowest win rate for CBOE Volatility Index (^VIX) index — positive in 31% of years.
Which quarter has the highest win rate for CBOE Volatility Index (^VIX) index?
Historically, Q3 has the highest win rate for CBOE Volatility Index (^VIX) index — positive in 61% of years.
Which quarter has the lowest win rate for CBOE Volatility Index (^VIX) index?
Historically, Q2 has the lowest win rate for CBOE Volatility Index (^VIX) index — positive in 30% of years.
Data & methodology
How are returns calculated?
We compare the closing price at the end of each period (month or quarter) with the closing price at the end of the previous period. The return is the percentage change. Based on historical closing prices from our data provider.
What is average vs median?
Average is the arithmetic mean of returns for each period across years. Median is the middle value. Both exclude empty cells. Use median to reduce impact of outliers.
What does the heatmap show?
Green cells indicate positive returns, red cells indicate negative returns. The darker the color, the stronger the move. Average and Median rows summarize each column across years.
What is Win %?
Percentage of years when the period had a positive return. For example, 80% for January means January was positive in 80% of the years in the selected range.