Information on Volatility Linked ETPs

Long Volatility Linked ETPs

Long Short-Term Volatility Linked ETPs

Many volatility linked long ETPs are designed to offer a return based on a portfolio that owns VIX futures contracts targeting a one month maturity. These are commonly referred to as a short-term futures ETPs and offer returns equal to an index that holds the front two month futures contracts in a way that results in a consistent one-month maturity. Information on short-term volatility linked indexes may be found here.

There are a couple of long short-term focused ETPs that have slightly different strategies than targeting a one-month time horizon using VIX futures. The VelocityShares 1X Long VSTOXX Futures ETN uses the same approach as the ETPs focusing on a strategy using VIX futures, but uses VSTOXX Futures to target a one-month maturity. Finally, the REX VolmaxxTM Long VIX Weeklys Futures Strategy ETF uses a weighting in VIX futures that targets a maturity less than one month.

More information for each of these long short-term exchange traded products may be found by clicking on the ETP’s name on the table below.

Exchange Traded Product Brand Issuer Strategy Ticker
iPath® S&P 500 VIX Short-Term FuturesTM ETN iPath Barclays Bank PLC One Month Maturity with VIX Futures VXX
iPath® Series B S&P 500 VIX Short-Term FuturesTM ETN iPath Barclays Bank PLC One Month Maturity with VIX Futures VXXB
ProShares VIX Short-Term Futures ETN ProShares ProShares One Month Maturity with VIX Futures VIXY
REX VolmaxxTM Long VIX Weeklys Futures Strategy ETF REX VolMAXX Exchange Traded Concepts Less Than One Month Maturity with VIX Futures VMAX
VelocityShares 1x Long VSTOXX Futures ETN VelocityShares UBS AG One Month Maturity with VSTOXX Futures EVIX
VelocityShares Daily Long VIX Short-Term ETN VelocityShares Credit Suisse AG One Month Maturity with VIX Futures VIIX

Long Mid-Term Volatility Linked ETPs

There are also ETPs that offer a consistent five-month maturity through holding a portfolio of VIX futures contracts. These exchange traded products are referred to as mid-term and will hold positions in the fourth, fifth, sixth, and seventh month futures contracts. Information on mid-term volatility linked indices may be found here.

Exchange Traded Product Brand Issuer Strategy Ticker
iPath® S&P 500 VIX Mid-Term FuturesTM ETN iPath Barclays Bank PLC Five Month Maturity with VIX Futures VXZ
iPath® Series B S&P 500 VIX Mid-Term FuturesTM ETN iPath Barclays Bank PLC Five Month Maturity with VIX Futures VXZB
ProShares VIX Mid-Term Futures ETF ProShares ProShares Five Month Maturity with VIX Futures VIXM
VelocityShares Daily Long VIX Medium-Term ETN VelocityShares Credit Suisse AG Five Month Maturity with VIX Futures VIIZ


Investments in ETPs involve risk, including the possible loss of principal, and are not appropriate for all investors. Non-traditional ETPs, including leveraged and inverse ETPs, pose additional risks and can result in magnified gains or losses in an investment. Specific risks are outlined in the fund prospectus and may include concentration risk, correlation risk, counterparty risk, credit risk, market risk, interest rate risk, volatility risk, tracking error risk, among others. Investors should consult with their tax advisors to determine how the profit and loss on any particular investment strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations. The information in this program is provided for general education and information purposes only. No statement within this program should be construed as a recommendation to buy or sell a security or to provide investment advice.

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