Quadratic Interest Rate Volatility and Inflation Hedge ETF
$16.09−0.20 (−1.20%)
- Expense ratio
- 1.02%
- Fund size
- $237M
- 1Y return
- −13.7%
- Yield · Last 12 months
- 4.10%
- Holdings
- 8
- Volume · 30D
- 0.2M sh
- NAV per share
- $16.29
- 52W range
The ETF.net IVOL Grade
Score 27 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 3Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 39Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 49Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 100Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 74Category rank
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
- 8
- 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.
Returns run to the Sep 22, 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 | −13.0% |
| 1 month | −6.6% |
| 3 months | −4.7% |
| 1 year | −13.7% |
| 3 years | −3.5% |
| 5 years | −6.7% |
| 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 | −13.0% | |
| 2025 | +12.0% | |
| 2024 | −11.1% | |
| 2023 | −5.2% | |
| 2022 | −12.7% | |
| 2021 | −0.3% | |
| 2020 | +14.6% |
IVOL in the news
ETF.net Research hasn’t filed on IVOL yet — coverage lands here as it’s written.
IVOL Dividends
- 4.10%
- $0.67
- $0.05 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 28, 2026 | Aug 31, 2026 | $0.05 |
| Jul 30, 2026 | Jul 31, 2026 | $0.05 |
| Jun 29, 2026 | Jun 30, 2026 | $0.05 |
| May 28, 2026 | May 29, 2026 | $0.05 |
| Apr 29, 2026 | Apr 30, 2026 | $0.06 |
| Mar 30, 2026 | Mar 31, 2026 | $0.06 |
| Feb 26, 2026 | Feb 27, 2026 | $0.06 |
| Jan 29, 2026 | Jan 30, 2026 | $0.06 |
| Dec 30, 2025 | Dec 31, 2025 | $0.06 |
| Nov 26, 2025 | Nov 28, 2025 | $0.06 |
| Oct 30, 2025 | Oct 31, 2025 | $0.06 |
| Sep 29, 2025 | Sep 30, 2025 | $0.06 |
IVOL Risk
- 8.6%
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.
- −0.79
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.
- −30.5%
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
- The middle half of Portfolio Hedging funds
- Median 0.63%
Every other Portfolio Hedging fund charges less.