Key stats
About -1x Short VIX Mid-Term Futures Strategy ETF
Expense ratio
1.42%
Home page
Inception date
Apr 19, 2023
ZIVB aims to provide daily inverse exposure to mid-term VIX futures with an average term-to-maturity of five months. The VIX is a non-investable index that captures the implied volatility of the S&P 500. The fund rolls its short positions and rebalances its portfolio daily, whereby the time and manner of rebalancing are at the discretion of the fund adviser. As a daily inverse product, ZIVB is designed as a short-term trading tool and not a long-term investment vehicle. Returns over holding periods greater than one day can be significantly different from -1x of the index. ZIVB does not deliver inverse returns on the VIX itself. The fund provides the inverse returns of the fourth, fifth, sixth, and seventh-month futures, rolled daily. ZIVB indirectly obtains exposure by utilizing a Cayman Island Subsidiary, thus, avoiding issuing a K-1 form to investors. The fund is structured as a commodity pool, which means investors can avoid the counterparty risk of an exchange-traded note.
Classification
What's in the fund
Exposure type
Mutual fund
Bonds, Cash & Other100.00%
Mutual fund99.94%
Cash0.06%
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