The vxx is exposed to futures market risks, mainly the risk of loss from fluctuations in the value of the underlying short term futures contracts Vxx achieves this by combining two vix futures products On the other hand, the vix does not face any risks because it is not tradeable—it only indicates market predictions for future volatility.
Exposing the VXX: Understanding Volatility Contango and Time Decay
Including fees, performance, dividend yield, holdings and technical indicators to make a better investment decision.