2x Long VIX Futures ETF

Frequently Asked Questions About UVIX

What does UVIX invest in?

This index is designed to track the daily performance of a hypothetical investment basket consisting of long positions in VIX futures contracts, specifically those with the closest two expiration dates. To maintain a consistent average time until maturity for these futures, the portfolio is adjusted through a daily rebalancing mechanism. The index's value is finalized each day at 4:00 p.m. Eastern Time, calculated from the average trading price of its component futures during the period between 3:45 p.m. and 4:00 p.m. Eastern Time.

What is the expense ratio of UVIX?

2x Long VIX Futures ETF (UVIX) charges an expense ratio of 2.19%. This is the annual fee deducted from fund assets to cover management and operations.

Is UVIX a good long-term hold?

UVIX is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does UVIX's daily reset work?

UVIX rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is UVIX?

2x Long VIX Futures ETF (UVIX) manages $268.4M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is UVIX actively managed or an index fund?

UVIX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.