Quadratic Interest Rate Volatility and Inflation Hedge ETF
$16.87−0.04 (−0.24%)
- 1.02%
- $223M
- −9.8%
- 3.89%
- 0.2M sh
- $16.96
- low $15.99high $19.63
The ETF.net IVOL Grade
D
Score 26 out of 100
- 13 of 13
Score 26 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F3 out of 100Rank 13 of 13Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C41 out of 100Rank 9 of 13Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C43 out of 100Rank 10 of 13Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C52 out of 100Rank 2 of 6Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A74 out of 100Rank 3 of 13
Our read on IVOL
DMost Treasury funds are a bet on where rates go. IVOL is a bet on the curve's shape: a TIPS core plus long interest-rate options, built to hedge inflation expectations, fixed-income volatility and a steepening yield curve.
The fund seeks to hedge fixed-income volatility, inflation expectations, and yield-curve steepening through inflation-protected U.S. Treasury securities and long OTC interest-rate options.
Why people hold it
- A bond fund with a view. Inflation-protected Treasuries supply the CPI-linked core; long OTC interest-rate options target yield-curve steepening and swings in rate volatility.
- Its Treasury-cohort peers are plain index trackers (VGIT, SCHP). The options sleeve gives IVOL a payoff shape a ladder-tracking fund structurally cannot produce.
- Not a startup experiment: trading since 2019, a US-focused 1940 Act fund, and it distributes monthly.
Worth knowing
- The specialist machinery costs. The 1.02% expense ratio runs more than eight times the 0.12% median for its Treasury peer group, among the priciest in that aisle.
- Options drive the ride. When the curve flattens or rate volatility cools, that same mechanism works against the fund, so it can diverge sharply from a plain TIPS holding.
- Monthly payouts come from TIPS income and options positioning, so amounts move around. Treat it as a hedge sleeve, not a fixed coupon.
IVOL Holdings
- Bonds
- 11
- 100%
- SCHP
Sectors
- Financials100.0%
Geography
- United States100.00%
IVOL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
IVOL$9,018
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | IVOL |
|---|---|
| Year to date | −9.3% |
| 1 month | +1.3% |
| 3 months | −1.4% |
| 1 year | −9.8% |
| 3 years | −3.3% |
| 5 years | −6.1% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | IVOL |
|---|---|---|
| 2026 YTD | −9.3% | |
| 2025 | +12.0% | |
| 2024 | −11.1% | |
| 2023 | −5.2% | |
| 2022 | −12.7% | |
| 2021 | −0.3% | |
| 2020 | +14.6% |
IVOL in the news
IVOL Dividends
- 3.89%
- $0.66
- $0.05 per share
- Monthly
Distribution history
IVOL Risk
- 8.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.86
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −30.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.53
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
IVOL Cost
1.02%
IVOL1.02%
- The middle half of Portfolio Hedging funds
- Median 0.63%
Every other Portfolio Hedging fund charges less.
Other funds in Portfolio Hedging
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- DONEHTrueShares Equity Hedge ETFExpense ratio 0.79%1 year return —
- DVIXYProShares - VIX Short-Term Futures ETFExpense ratio 0.85%1 year return −55.9%
- DVIXMProShares VIX Mid-Term Futures ETFExpense ratio 0.85%1 year return −22.7%